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 10-11-88 - Municipal fire member coverage plan 1; amount of pension; form of payment A.

Section 10-11-88 - Municipal fire member coverage plan 1; amount of pension; form of payment A.

10-11-88. Municipal fire member coverage plan 1; amount of pension; form of payment A.

Under municipal fire member coverage plan 1, the amount of pension under form of payment A is equal to two percent of the final average salary multiplied by credited service. The amount shall not exceed sixty percent of the final average salary.