State general member coverage plan 3; amount of

pension; form of payment A. Under state general member coverage plan 3: A. for a member with age and service requirements provided under Paragraph (1) or (3) of Subsection A of Section 10-11-26.2 NMSA 1978, the amount of pension under form of payment A is equal to three percent of final average salary multiplied by service credit. The amount shall not exceed one hundred percent of the final average salary; and B. for a member with age and service requirements provided under Paragraph (2) or (4) of Subsection A of Section 10-11-26.2 NMSA 1978, the amount of pension under form of payment A is equal to two and one-half percent of the final average salary multiplied by service credit. The amount shall not exceed one hundred percent of the final average salary. History: Laws 1994, ch. 128, § 4; 2013, ch. 225, § 11; 2023, ch. 53, § 1; 2026, ch. 14, § 6.