Section 10-11A-7 - Retirement annuity; surviving beneficiary. - New Mexico Statutes

10-11A-7. Retirement annuity; surviving beneficiary.

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.