Section 10. Payment Of Pension

Pension payments will be processed or mailed monthly, not later than the last day of the month for which they are paid. A. A retired member may have the pension warrant mailed directly to any location specified in writing by the retired member; provided, however, that after December 31, 1998, the provisions of Paragraph (4) of Subsection B of 2.83.700.10 NMAC shall apply. Arrangements providing for electronic transfer of pension payments to the retiree’s banking institution are permitted so long as the retired member's right to receipt of the funds is not altered except as ordered by a court of competent jurisdiction. B. In the event a retired member is incapacitated or unable to sign his or her pension warrant, proof that a guardian has been appointed for the retired member, or proof of appointment of a conservator for the estate, or a copy of a durable power of attorney for a third party shall be filed with PERA.