New Mexico Administrative Code

A. Any public employer that seeks to become an affiliated public employer shall provide the association with the following information for review: (1) a certified copy of the resolution or ordinance adopted by the public employer pursuant to NMSA 1978, Section 10-11-122(B); and (…

Public Employees Retirement Association (PERA), 33 Plaza La Prensa, Santa Fe, New Mexico 87507

A. Except as otherwise provided in the Public Employees Retirement Act and rules and regulations periodically adopted in accordance therewith, the board may provide for its organization, operation and procedures by vote of the board at any meeting of the board. B. The board may p…

A. Whenever the amount of any benefit is to be determined on the basis of actuarial assumptions, the assumptions shall be specified by the board in a manner that precludes employer discretion. B. No part of the corpus or income of the fund may be used for or diverted to a purpose…

This rule affects the members, former members, retirees, beneficiaries, public employers, retirement board and the association under the Public Employees Retirement Act.

A. At the first regular meeting of each calendar year, the board shall elect a chair and a vice-chair. The duties of the officers shall include the following. (1)The chair shall preside at all regular and special meetings of the board. (2)The vice-chair shall serve as chair in th…

A. New board members shall attend a new board member orientation within two months of being elected or appointed to office. New board member orientation shall be provided by PERA staff and shall include fiduciary responsibility, investing principles, an actuarial primer and an ov…

This rule is authorized by Sections 10-11-130, 10-11A-4, 10-12B-3, 10-12C-3 NMSA 1978, as amended.

A. In the event any member of the PERA board retires from his or her job, resigns from the board, is removed from the board or dies, except the ex-officio members of the board, that member shall be considered to have resigned from the board and the board shall, by resolution, dec…

Permanent.

A. The board shall hold regular meetings on the last Thursday of each month, unless otherwise established by resolution of the board. The board may establish by resolution a different meeting schedule for regular meetings of the board. B. A board member may participate in a board…

December 30, 2015, unless a different date is cited at the end of a section.

A. The chair shall appoint no more than six board members to each of the following standing committees: rules and administration, audit and budget, legislative, investments, deferred compensation, investment plan, and governance. The disability review committee shall have at leas…

The objective of this rule is to establish procedures for the organization and operation of the retirement board.

A. During the January monthly meeting, the retirement board shall adopt a resolution specifying when nominating petitions are due to be returned to PERA or an independent contractor hired by PERA to assist with the election. These nominating petitions are due not earlier than six…

A. During the January monthly meeting, the retirement board shall adopt a resolution specifying when nominating petitions are due to be returned to PERA or an independent contractor hired by PERA to assist with the election. These nominating petitions are due not earlier than six…

The call of the annual meeting and secret election ballots shall be mailed at least 30 days prior to the annual meeting of the association. Mailed ballots shall be returned to a designated United States post office locked box and picked up by the election committee or an independ…

Restrictions on building and land use shall be provided for by the executive director as needed subject to the advice and consent of the board.

Public Employees Retirement Association, P. O. Box 2123, Santa Fe, New Mexico 87504-2123

A. PERA requires that the following information be contained in a court order to withhold amounts due in satisfaction of current or delinquent child support obligations. (1) specific information identifying the member or retired member, i.e., full name, address, social security n…

This rule affects the members, former members, retirees, beneficiaries, and the association under the Public Employees Retirement Act.

Member files must contain current names and addresses for persons having a court-determined interest in member retirement accounts. Any person who has such an interest must provide PERA with a written statement of change of name or address. If a warrant is returned as undeliverab…

This rule is authorized by NMSA 1978, Sections 10-11-130, and 10-11-136.1, as amended.

Permanent.

December 15, 1995 unless a different date is cited at the end of a section.

The objective of this rule is to establish standards and procedures for withholding from retirement pensions/contributions the amounts due pursuant to a child support enforcement order.

[Reserved]

Public Employees Retirement Association (PERA), 33 Plaza La Prensa, Santa Fe, New Mexico 87507

This rule affects the members, public employers, retirement board and the association under the Public Employees Retirement Act.

This rule is authorized by Sections 10-11-124, 10-11-129 and 10-11-130 NMSA 1978, as amended.

Permanent.

December 30, 2015, unless a different date is cited at the end of a section.

The objectives of this rule are to establish standards and procedures for refunding member contributions and to identify federal obligations which may be satisfied out of benefits payable.

A. "Another qualified plan" for the purposes of the direct rollover provisions in Section 10-11-124(C) NMSA 1978, means an eligible retirement plan, including: (1)an individual retirement account described in Internal Revenue Code Section 408(a); (2)an individual retirement annui…

A. No partial refund of a member's contributions is permitted. B. A member shall not receive a refund of contributions if the member terminates employment with one affiliated public employer and is thereafter employed by the same or another affiliated public employer within thirt…

A. A member's accumulated member contributions, plus interest, shall constitute unclaimed member contributions pursuant to Section 10-11-128 NMSA 1978 if the following conditions are met: (1) the member has applied for and received a refund of member contributions; (2) a balance …

Public Employees Retirement Association, P. O. Box 2123, Santa Fe, New Mexico 87504-2123

This rule affects the affiliated public employers and employees under the municipal fire member coverage plans of the Public Employees Retirement Act during the fiscal year 1997.

This rule is authorized by Section 2, Chapter 8 of the New Mexico Laws of 1996 and Section 10-11-130, NMSA 1978.

Permanent.

April 1, 1996. This rule was originally adopted as an emergency rule. See notice of adoption of emergency rule and notice of PERA rulemaking, March 28, 1996, published in the New Mexico register on April 15, 1996. The rule was adopted by the PERA board as a permanent rule on May …

On March 4, 1996, legislation was signed by Governor Gary Johnson which appropriated $300,000 from the general fund to the employers accumulation fund for the fiscal year 1997 for the purpose of funding municipal fire member coverage plans. The legislation called for the followin…

Definitions of terms used in this rule are found in 2.80.100.7 NMAC Definitions, and Section 10-11-2, NMSA 1978.

On or before July 1, 1996, each affiliated public employer with a municipal fire member coverage plan shall file with the association a certified copy of a duly enacted resolution or ordinance of its governing body. The resolution or ordinance shall specify what percentage of the…

Public Employees Retirement Association, P. O. Box 2123, Santa Fe, New Mexico 87504-2123

A. Except as provided in Subsection B below, leave without pay for a period that exceeds twelve (12) weeks shall be deemed a break in service. A member on leave without pay for a period exceeding twelve (12) weeks is no longer continuously employed for the purpose of NMSA 1978, S…

This rule affects the members, former members, beneficiaries, public employers, retirement board and the association under the Public Employees Retirement Act.

This rule is authorized by NMSA 1978, Sections 10-11-130 and 10-11-8, as amended.

Permanent.