New Mexico Administrative Code

Permanent.

October 10, 2023, unless a different date is cited at the end of a section.

The objective of this rule is to establish the procedure for the payment of a survivor pension under the Magistrate Retirement Act.

[RESERVED]

The procedure for payment of a survivor pension is: A. Applicants for pre-retirement survivor pensions shall notify PERA of the death of the member and complete an application for benefits. B. The completed application shall be returned to PERA along with the following documents:…

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

This rule affects retired members who are not covered by the Retiree Health Care Act and the association under the Magistrate Retirement Act.

This rule is authorized by NMSA 1978, Sections 10-12C-3 and 10-12C-15, as amended.

Permanent.

July 1, 1992 unless a different date is cited at the end of a Section.

The objective of this rule is to establish a procedure for certain members to continue group insurance coverage.

[Reserved]

A. Each retired member who desires to continue insurance coverage under the provisions of any state group insurance plan in effect at the time of retirement, is required to file with the association the appropriate documentation. B. In the event a retired member desires to termin…

Public Employees Retirement Association

This rule affects participants and the deferred compensation third party administrator under the Deferred Compensation Act.

This rule is authorized by NMSA 1978, Section 10-7A-11.

Permanent.

December 29, 1989 unless a different date is cited at the end of a section.

The objective of this rule is to establish standards and procedures for handling withdrawal applications for financial hardship.

[Reserved]

A. Unforeseeable emergency withdrawal applications. The deferred compensation third party administrator shall handle the processing of unforeseeable emergency withdrawal applications including, but not limited to: (1) sending out withdrawal applications; (2) answering questions o…

In accordance with the Deferred Compensation Act, the board shall adopt and amend a deferred compensation plan. The plan shall comply with the requirements of Internal Revenue Code Section 457, as amended, and may be amended to include provisions that allow for trustee-to-trustee…

Public Employees Retirement Association, P.O. Box 2123, Santa Fe, New Mexico 87503-2123

This rule affects participants, ex-spouses of participants, former participants, ex-spouses of former participants, and the deferred compensation third party administrator under the Deferred Compensation Act.

This rule is authorized by NMSA 1978, Sections 10-7A-11 and 10-7A-12.

Permanent.

July 1, 1991 unless a different date is cited at the end of a section.

The objective of this rule is to establish standards and procedures for dividing the community interest in deferred compensation plans.

[Reserved]

A. Funds from a deferred compensation account may be paid to an alternate payee upon submission of a domestic relations order that conforms to the requirements of this rule and the deferred compensation plan. Funds may also be paid as a result of an approved unforeseen emergency …

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

This rule affects participants, former participants, beneficiaries, and the deferred compensation third party administrator under the Deferred Compensation Act.

This rule is authorized by NMSA 1978, Section 10-7A-11.

Permanent.

December 29, 1989 unless a different date is cited at the end of a section.

The objective of this rule is to establish standards and procedures for distribution after the participant terminates employment.

[Reserved]

A participant shall make a distribution election or determination as provided for in the deferred compensation plan and as allowed by in the Internal Revenue Code, Section 457, as amended. The election shall be filed with the deferred compensation third party administrator by the…

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

This rule affects participants, former participants, local public bodies, the retirement board and the deferred compensation administrator under the Deferred Compensation Act.

This rule is authorized by NMSA 1978, Sections 10-7A-8 and 10-7A-11, as amended.

Permanent.

November 15, 1997 unless a different date is cited at the end of a section.

The objective of this rule is to set forth standards and procedures for establishing and terminating local public employee participation in the deferred compensation plan.

[Reserved]

A. A local public body electing to participate in the deferred compensation plan shall file an agreement, in a form acceptable to the board, with the deferred compensation administrator and the board within fifteen (15) working days of approval by the governing authority of the l…

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 coverage plans of the Public Employees Retirement Act, the educational retirement association, the educational retirement board and the public employees retirement board.

This rule is authorized by NMSA 1978, Section 10-13A-3, as amended.

Permanent.