Under state general member coverage plan 1, final average salary is one thirty-sixth of the greatest aggregate amount of salary paid a member for thirty-six consecutive months of credited service. Under state general member coverage plan 1, if a member has less than thirty-six months of credited service, final average salary is the aggregate amount of salary paid a member for the member's period of credited service divided by the member's credited service.
§ 10-11-18 NMSA 1978
State general member coverage plan 1; final average salary
Known as the Public Employees Retirement Act
The act spans §§ 10-11-1 to 10-11-99 (201 sections).
Laws 1987, ch. 253, § 18.
Official source: NMOneSource (New Mexico Compilation Commission). Reproduced from public-domain New Mexico statutes; confirm against the official source for the current text. Not legal advice.