A. If an error or omission in an application for retirement or its supporting documents results in an overpayment to a member or the beneficiary of a member, the board shall correct the error or omission and adjust all future payments accordingly. The board shall recover all overpayments that are made.B. A member or the beneficiary of a member who is paid more than the amount owed because that member or beneficiary provided fraudulent information on the application for retirement shall be liable for the repayment of that amount to the fund, interest on that amount at the rate set by the board and costs of collection, including attorney fees. Recovery of overpayments shall extend back to the date of the first payment that was made based on fraudulent information.C. The board shall not be estopped from acting in accordance with applicable statutes because of statements of fact or law made by the board or its employees.History: Laws 1998, ch. 38, § 2; 2023, ch. 156, § 20. ANNOTATIONSThe 2023 amendment, effective June 16, 2023, in Subsection B, after 'amount', deleted 'he is', after 'owed because', deleted 'he' and added 'that member or beneficiary', and after 'information on', NSThe 2023 amendment, effective June 16, 2023, in Subsection B, after 'amount', deleted 'he is', after 'owed because', deleted 'he' and added 'that member or beneficiary', and after 'information on', deleted 'his' and added 'the'.
New Mexico Legal Code