Municipal general member coverage plan 2; amount of

pension; form of payment A. Under municipal general member coverage plan 2: A. for a member with age and service requirements provided in Subsection A of Section 10-11-51 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 credited service. The amount shall not exceed one hundred percent of the final average salary; and B. for a member with age and service requirements provided in Subsection B of Section 10-11-51 NMSA 1978, the amount of pension under form of payment A is equal to two 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 1987, ch. 253, § 52; 2013, ch. 225, § 36; 2023, ch. 53, § 5.