Statutes > New Mexico Statutes > Chapter 10 - Public Officers and Employees. > Article 11 - Retirement of Public Officers and Employees Generally, 10-11-1 through 10-11-142. > Section 10-11-55.3 - Municipal general member coverage plan 3; amount of pension; form of payment A.

Section 10-11-55.3 - Municipal general member coverage plan 3; amount of pension; form of payment A.

10-11-55.3. Municipal general member coverage plan 3; amount of pension; form of payment A.

Under municipal general member coverage plan 3, the amount of pension under form of payment A is equal to three percent of the final average salary multiplied by credited service.  The amount shall not exceed eighty percent of the final average salary.