New Mexico Administrative Code

At the time of refund of a member's contributory balance, interest shall be paid at the refund rate through the end of the calendar quarter preceding the date of the refund; except that no interest shall be paid on contributions credited to a member's account for any period prior…

This rule defines earnings on which member contributions shall be made, refund of contributions, purchase of contributory employment and non-reported service, and the payment of interest on refunds.

The Educational Retirement Act, Section 22-11-1 to 22-11-55, NMSA 1978.

Permanent

July 1, 2012, unless a later date is cited at the end of a section.

Clarification of the definition of earnings on which member contributions shall be made, the process to obtain refunds and to purchase contributory employment and non-reported service and the calculation of interest on such refunds and purchases.

A. Terms used herein shall have the definitions as set forth in the Educational Retirement Act. Additional definitions used in this regulation are set forth below. B. "Non-reported service" means service for which contributions should have been made by both a member and a local a…

A. Except as otherwise set forth herein and subject to the limitations set forth in Section 22-11-21.2 NMSA 1978, a member's annual salary for the purpose of contributions to the fund and computation of the member's benefit shall consist of total compensation or wages paid to the…

A. In the event that a member should terminate employment for reasons other than retirement, disability, or death, the member shall be entitled to a refund of the member's contributions, plus interest calculated at the refund rate, reduced by the sum of any disability benefits wh…

Educational Retirement Board, P.O. Box 26129, Santa Fe, New Mexico 87502-0129

No service credit can be earned, purchased or otherwise credited for any of the time a retired member is employed by a local administrative unit unless the retired member has suspended their retirement benefit. While a retired member is employed by a local administrative unit, no…

A. Beginning July 1, 2020, a member may pay to convert unused sick leave to earned service credit in accordance with Section 22-11-34.1 NMSA 1978. Earned service credit that is purchased in accordance with Section 22-11-34.1 NMSA 1978 shall be known as "sick leave service credit.…

This rule applies to earned and allowed service credit.

The Educational Retirement Act, Sections 22-11-1 to 22-11-55 NMSA 1978.

Permanent

October 31, 2017, unless a later date is cited at the end of a section.

Clarifies requirements, conditions and procedures for determining a member's years of service, and the purchase of allowed service credit.

A. Earned service credit shall be granted on a quarterly basis. B. A member shall receive one quarter of credit for each calendar quarter in which the member has earnings from regular employment and renders services for a minimum of 16 days. A member is considered to have rendere…

A. For purposes of granting allowed service credit pursuant to Paragraph (2) of Subsection A of Section 22-11-34 NMSA 1978, a member engaged in military service that interrupted the member's employment under a state system in New Mexico shall return to employment within 18 months…

Educational Retirement Board, P. O. Box 26129, Santa Fe, New Mexico 87502-0129

A. Upon retirement, the following procedures shall apply with regard to commencement of the member's benefit: (1) If the retiring member's employment terminated at least 90 days prior to the effective date of retirement, the benefit may be commenced at the end of the month follow…

A. Whenever a retiring member completes the academic year for which the member has been contracted or employed, the member's effective date of retirement shall be July 1, provided that application is made as stipulated in Subsection B of 2.82.5.11 NMAC. Whenever a retiring member…

The director is authorized to approve duly executed applications for age and service retirement on behalf of the board in order to insure timely approval of same; however, all such approvals must be ratified by the educational retirement board at a subsequent meeting of the board…

A. Option B provided in accordance with Subsection D of Section 22-11-29 NMSA 1978 shall be operative: (1) during periods of non-participation, if contributions are not withdrawn, and (2) during periods of time when a member is receiving disability benefits, and (3) during the pe…

A. The adjustment factor to be applied annually to eligible benefits shall be determined by using the "Consumer Price Index for All Urban Consumers U.S. City Average All Items". B. If a member who was certified by the board as disabled at the time of regular retirement returns to…

A. A retired member cannot return to employment with any LAU until the member submits and ERB approves a return to work application prescribed by the Board verifying their eligibility for the return to work program. B. For purposes of return to work, including Sections 15 through…

A. A retired member may return to employment (includes "substitution") at a level of .25 FTE or less without affecting the retired member's retirement benefit provided the retired member submits a return to work application and is approved by ERB prior to commencing employment. B…

A. A retired member may return to employment (includes "substitution") pursuant to Subsection H of Section 22-11-25.1 NMSA 1978 without affecting the retired member's retirement benefit provided that: (1) the retired member has not rendered service to an LAU for at least 90 conse…

A. A retired member may return to employment pursuant to Subsection I of Section 22-11-25.1 NMSA 1978 without affecting the retired member's retirement benefit provided that: (1) the retired member has not rendered service to a local administrative unit for at least 90 consecutiv…

The rights of members to benefits accrued, to the extent funded, will become vested to the extent required by and upon the events set forth in Treas. Reg. Section 1.401-6(a)(1). See 26 CFR 1.401-6.

This rule applies to procedures and eligibility for retirement, and the calculation of and selection of options for benefits.

The Educational Retirement Act of New Mexico is intended to satisfy Section 401(a) of the Internal Revenue Code and to be a governmental plan within the meaning of Section 414(d) of the Internal Revenue Code.

The Educational Retirement Act shall allow direct rollovers to non-spouse beneficiaries for lump sum distributions only, and such distributions must be requested before the end of the year after the year of the member's death. No partial rollovers shall be permitted. A direct rol…

In the case of a death or disability occurring on or after January 1, 2007, if a member dies while performing qualified military service (as defined in section 414(u)), the survivors of the member are entitled to any additional benefits (other than benefit accruals relating to th…

The Educational Retirement Act, Sections 22-11-1 to 22-11-55 NMSA 1978.

Permanent

July 1, 2024, unless a later date is cited at the end of a section or paragraph.

To specify procedures for retirement, benefits and options, and provide rules for the restoring process.

A. A member shall not be considered eligible to retire unless the member shall have completed at least five years of contributory employment even though such member might otherwise be eligible by reason of age and service, and tender of payment for contributory employment. B. A s…

A. Retirement application forms furnished by the director and made available in each local administrative unit, may be initiated by the member or the member's employer. The member may also write to the director to apply for benefits. In either case, the application must be signed…

Educational Retirement Board, P.O. Box 26129, Santa Fe, New Mexico 87502-0129.

A. The effective date of disability benefits shall be the first day of the month following the member's termination of employment, or the first day of the month following receipt of the member's application, whichever is later. B. The applicant for disability benefits shall not b…

A. The medical review authority shall, in its recommendation to the educational retirement board, report whether the applicant is or is not totally disabled to continue with his/her employment and unable to obtain and retain other gainful employment commensurate with his/her back…

A. The requirements of Section 22-11-36 NMSA 1978 shall be met in the following manner: (1) Each recipient of disability benefits shall be required to furnish a report from his/her personal physician or health care provider or report to an assigned medical examiner for examinatio…

The director is authorized to approve duly executed applications for disability benefits on behalf of the board in order to insure timely approval of same if the medical review authority has determined that the applicant is disabled; however, all such approvals must be ratified b…

This rule applies to disability retirement.

The Educational Retirement Act, Sections 22-11-1 to 22-11-55 NMSA 1978.

Permanent.