A member may designate a spouse or dependent child as a beneficiary. In the event a retirement annuitant dies, the surviving beneficiary shall receive an annuity equal to two-thirds of the retirement annuity being paid to the retirement annuitant at the time of death; provided that the annuity paid to a beneficiary spouse shall cease upon the surviving spouse's marriage or death and the annuity paid to a beneficiary dependent child shall cease upon the child reaching eighteen years of age or upon the child's death, whichever comes first.
History: Laws 1983, ch. 263, § 7; 2009, ch. 262, § 5.
The 2009 amendment, effective June 19, 2009, added the first sentence; in the second sentence, after the third instance of "annuity", added "paid to a beneficiary spouse" and after "death", added the remainder of the sentence.
Structure 2021 New Mexico Statutes
Chapter 10 - Public Officers and Employees
Article 11A - Volunteer Firefighters Retirement
Section 10-11A-1 - Short title.
Section 10-11A-2 - Definitions.
Section 10-11A-5 - Retirement benefits; eligibility.
Section 10-11A-6 - Determination of service credit.
Section 10-11A-7 - Retirement annuity; surviving beneficiary.