reglab/housing_qa huggingface dataset:
NM Stat § 10-11-123 (2021)
2021 New Mexico Statutes|Chapter 10 - Public Officers and Employees|Article 11 - Retirement of Public Officers and Employees Generally|Section 10-11-123 - Funds of association.

A. The accounting funds of the association are the "member contribution fund", "employers accumulation fund", "retirement reserve fund" and "income fund". The maintenance of separate accounting funds shall not require the actual segregation of the assets of the association among the various funds. B. The accounting funds provided for in Subsection A of this section are trust funds and shall be used only for the purposes provided in the Public Employees Retirement Act. History: Laws 1987, ch. 253, § 123. ANNOTATIONSSegregation and allocation of investments. — There is no statutory requirement that the various funds be segregated as to investments, and no prohibition against the allocation of a share of an investment to each of the several funds. 1958 Op. Att'y Gen. No. 58-172. Am. Jur. 2d, A.L.R. and C.J.S. references. — 81A C.J.S. States §§ 46, 112 to 119, 223, 224, 229.
NM Stat § 10-11-125 (2021)
2021 New Mexico Statutes|Chapter 10 - Public Officers and Employees|Article 11 - Retirement of Public Officers and Employees Generally|Section 10-11-125 - Member contributions; tax treatment.

Upon implementation, each affiliated public employer shall, solely for the purpose of compliance with Section 414(h) of the Internal Revenue Code, pick up, for the purposes specified in that section, member contributions required by the Public Employees Retirement Act for all salary earned by the member after implementation. Member contributions picked up under the provisions of this section shall be treated as affiliated public employer contributions for purposes of determining income tax obligations under the Internal Revenue Code; however, such picked up member contributions shall be included in the determination of the member's gross annual salary for all other purposes under federal and state laws. Members' contributions picked up under this section shall continue to be designated member contributions for all purposes of the Public Employees Retirement Act and shall be considered as part of the member's salary for purposes of determining the amount of the member's contribution. The provisions of this section are mandatory, and the member shall have no option concerning the pick up or to receive the contributed amounts directly instead of having them paid by the affiliated public employer to the association. With respect to members employed by an affiliated public employer other than the state, implementation occurs upon the employer's filing of a resolution with the association stating the employer's intent to pick up member contributions as provided in this section. With respect to members employed by the state, implementation occurs upon authorization by the association. In no event may implementation occur other than at the beginning of a pay period. History: Laws 1987, ch. 253, § 125. ANNOTATIONSCross references. — For Section 414(h) of the Internal Revenue Code, see 26 U.S.C. § 414(h). Provisions are salary reductions subject to FICA tax. — "Pickup" provisions of this section and Section 22-11-21.1 NMSA 1978, whereby the state designated certain employee pension contributions as employer contributions, constitute salary reduction agreements, and, as such, are subject to FICA taxes under 26 U.S.C. § 3121(v)(1)(B), 42 U.S.C. § 409(I)(2), and 26 U.S.C. § 3306(r)(1)(B), following the 1984 amendments to those sections. Public Emps. Ret. Bd. v. Shalala, 153 F.3d 1160 (10th Cir. 1998).
NM Stat § 10-11-126 (2021)
2021 New Mexico Statutes|Chapter 10 - Public Officers and Employees|Article 11 - Retirement of Public Officers and Employees Generally|Section 10-11-126 - Employers accumulation fund; employers contributions; transfers to retirement reserve fund.

A. The employers accumulation fund is the fund in which shall be accumulated contributions by affiliated public employers. Except as provided in Section 5 [10-11-5 NMSA 1978] of the Public Employees Retirement Act, an affiliated public employer shall remit its contributions to the association in accordance with the procedures and schedules established by the association. The association may assess an interest charge and a penalty charge on any remittance not made by its due date. B. Each year following receipt of the report of the annual actuarial valuation, the excess, if any, of the reported actuarial present value of pensions being paid and likely to be paid to retired members and survivor pension beneficiaries and residual refunds likely to be paid to refund beneficiaries of retired members and to survivor pension beneficiaries over the balance in the retirement reserve fund shall be transferred to the retirement reserve fund from the employers accumulation fund. History: Laws 1987, ch. 253, § 126. ANNOTATIONSEmployee contributions not exempt from state income tax. — The amounts deducted from the salaries of public employees for the Public Employees Retirement Act contributions are not exempt from the state income tax. 1982 Op. Att'y Gen. No. 82-09. Am. Jur. 2d, A.L.R. and C.J.S. references. — 81A C.J.S. States §§ 46, 112 to 119.
NM Stat § 10-11-127 (2021)
2021 New Mexico Statutes|Chapter 10 - Public Officers and Employees|Article 11 - Retirement of Public Officers and Employees Generally|Section 10-11-127 - Retirement reserve fund.

The retirement reserve fund is the fund from which shall be paid all pensions to retired members and survivor pension beneficiaries and all residual refunds to refund beneficiaries of retired members and survivor pension beneficiaries. History: Laws 1987, ch. 253, § 127.
NM Stat § 10-11-128 (2021)
2021 New Mexico Statutes|Chapter 10 - Public Officers and Employees|Article 11 - Retirement of Public Officers and Employees Generally|Section 10-11-128 - Income fund.

The income fund is the fund to which shall be credited all interest, dividends, rents and other income from investments of the association, all gifts and bequests, all unclaimed member contributions and all other money the disposition of which is not specifically provided for in the Public Employees Retirement Act. There shall be paid or transferred from the income fund all administrative expenses of the association. History: Laws 1987, ch. 253, § 128. ANNOTATIONSAm. Jur. 2d, A.L.R. and C.J.S. references. — 81A C.J.S. States §§ 46, 112 to 119.
NM Stat § 10-11-129 (2021)
2021 New Mexico Statutes|Chapter 10 - Public Officers and Employees|Article 11 - Retirement of Public Officers and Employees Generally|Section 10-11-129 - Distribution of income fund.

The association shall at least annually distribute all or a portion of the balance in the income fund to the member contribution fund, the retirement reserve fund and the employer accumulation fund. Distribution rates shall be determined by the retirement board and may vary by fund. History: Laws 1987, ch. 253, § 129.
NM Stat § 10-11-129.1 (2021)
2021 New Mexico Statutes|Chapter 10 - Public Officers and Employees|Article 11 - Retirement of Public Officers and Employees Generally|Section 10-11-129.1 - Legislative retirement fund.

The "legislative retirement fund" is created in the state treasury. The fund shall consist of money distributed, transferred or otherwise accruing to the fund. Money in the fund may be appropriated by the legislature to finance state legislator member coverage plan 2 pursuant to the Public Employees Retirement Act. Income from investment of the fund shall accrue to the fund, and balances in the fund at the end of any fiscal year shall not revert to the general fund. History: Laws 2003, ch. 85, § 13. ANNOTATIONSEffective dates. — Laws 2003, ch. 85, § 14 made the act effective July 1, 2003.
NM Stat § 10-11-130.1 (2021)
2021 New Mexico Statutes|Chapter 10 - Public Officers and Employees|Article 11 - Retirement of Public Officers and Employees Generally|Section 10-11-130.1 - Restrictions on receipt of gifts; restriction on campaign contributions; required reporting.

A. Except for gifts of food or beverage given in a place of public accommodation, consumed at the time of receipt, not exceeding fifty dollars ($50.00) for a single gift and the aggregate value of which gifts may not exceed one hundred fifty dollars ($150) in a calendar year, neither a retirement board member nor an employee of the retirement board or association shall receive or accept anything of value directly or indirectly from a person who: (1) has a current contract with the retirement board or association; (2) is a potential bidder, offeror or contractor for the provision of services or personal property to the retirement board or association; (3) is authorized to invest public funds pursuant to state or federal law or is an employee or agent of such a person; or (4) is an organization, association or other entity having a membership that includes persons described in Paragraphs (1) through (3) of this subsection. B. No person who is a candidate in a primary or general election for a position that qualifies the person for ex-officio membership on the retirement board, no member serving ex officio on the retirement board and no person who is a nominee for retirement board membership by election by some or all of the members of the association pursuant to the Public Employees Retirement Act shall accept anything of a value of more than twenty-five dollars ($25.00) as a contribution to an ex-officio member's statewide campaign in a primary or general election or as a contribution to the campaign of a nominee for membership on the board as a member elected by all or some of the members of the association from a person who: (1) has a current contract with the retirement board or association; (2) is a potential bidder, offeror or contractor for the provision of services or personal property to the retirement board or association; (3) is authorized to invest public funds pursuant to state or federal law or is an employee or agent of such a person; or (4) is an organization, association or other entity having a membership that includes persons described in Paragraphs (1) through (3) of this subsection. C. Within ten days after an election in which one or more board members are elected by some or all of the members of the association pursuant to the Public Employees Retirement Act, all persons who were candidates for board membership in that election shall file with the association a report disclosing all contributions to their respective campaigns whether made directly to the candidate, a political action committee or to some other entity supporting the candidate's election. The contributions shall be reported by amount and specific source. Within sixty days after the election, the association shall publish the reports required by this subsection. History: Laws 1999, ch. 153, § 1.
NM Stat § 10-11-131 (2021)
2021 New Mexico Statutes|Chapter 10 - Public Officers and Employees|Article 11 - Retirement of Public Officers and Employees Generally|Section 10-11-131 - Retirement board; officers; employment of services.

A. The retirement board shall elect from its own number a chairman and a vice chairman. B. The retirement board shall appoint an executive director who shall be the chief administrative officer for the retirement board and the association. C. The retirement board shall employ professional, technical, clerical and other services as required for the operation of the association. The compensation for employed services shall be fixed by the retirement board. D. The state treasurer shall be the treasurer of the association and the custodian of its funds. The treasurer's general bond to the state shall cover all liability for acts as treasurer of the association. The treasurer shall credit all receipts of money and assets of the association to the association. The treasurer shall make disbursements from association assets only upon warrants issued by the secretary of finance and administration based upon vouchers signed by the executive secretary or vouchers signed by the state treasurer for purposes of investment. History: Laws 1987, ch. 253, § 131; 1997, ch. 189, § 10. ANNOTATIONSThe 1997 amendment, effective June 20, 1997, substituted "director" for "secretary" in Subsection B. Generally, as to salary of executive secretary. — The retirement board has the authority to fix the salary of the executive secretary of such board, and in the absence of any attempt of the state personnel board to classify the position and fix the salary of the executive secretary, no consent or approval from said board is required. 1955 Op. Att'y Gen. No. 55-6070.
NM Stat § 10-11-133.1 (2021)
2021 New Mexico Statutes|Chapter 10 - Public Officers and Employees|Article 11 - Retirement of Public Officers and Employees Generally|Section 10-11-133.1 - Disclosure of third-party marketers; penalty.

A. The retirement board shall not make any investment, other than investments in publicly traded equities or publicly traded fixed-income securities, unless the recipient of the investment discloses the identity of any third-party marketer who rendered services on behalf of the recipient in obtaining the investment and also discloses the amount of any fee, commission or retainer paid to the third-party marketer for the services rendered. B. Information disclosed pursuant to Subsection A of this section shall be included in the quarterly performance reports of the retirement board. C. Any person who knowingly withholds information required by Subsection A of this section is guilty of a fourth degree felony and shall be punished by a fine of not more than twenty thousand dollars ($20,000) or by imprisonment for a definite term not to exceed eighteen months or both. D. As used in this section, "third-party marketer" means a person who, on behalf of an investment fund manager or other person seeking an investment from the fund and under a written or implied agreement, receives a fee, commission or retainer for such services from the person seeking an investment from the fund. History: Laws 2009, ch. 152, § 2. ANNOTATIONSEffective dates. — Laws 2009, ch. 152 contained no effective date provision, but, pursuant to N.M. Const., art. IV, § 23, was effective June 19, 2009, 90 days after the adjournment of the legislature.
NM Stat § 10-11-134 (2021)
2021 New Mexico Statutes|Chapter 10 - Public Officers and Employees|Article 11 - Retirement of Public Officers and Employees Generally|Section 10-11-134 - Survivor benefit fund; disposition.

A. The pensions being paid from the survivor benefit fund on June 30, 1987 shall thereafter be paid from the retirement reserve fund. B. The actuarial present value of pensions being paid from the survivor benefit fund on June 30, 1987 shall be transferred from the survivor benefit fund to the retirement reserve fund. C. Affiliated public employer contributions to the survivor benefit fund shall be discontinued effective the first full pay period after June 30, 1987. D. Each affiliated public employer contributing to the survivor benefit fund as of June 30, 1987 shall have its equity in the survivor benefit fund credited toward future employer contributions. The amount of credit shall be transferred from the survivor benefit fund to the employer accumulation fund as credits are earned. E. The association shall determine the equity of each affiliated public employer in the survivor benefit fund in proportion to contributions made during the year ended June 30, 1986 and the number of months the affiliated public employer has contributed to the survivor benefit fund. The determination shall be made after the provisions of Subsections A and B of this section have been implemented. History: Laws 1987, ch. 253, § 134. ANNOTATIONSCompiler's notes. — Laws 1987, ch. 355, § 10 provided that notwithstanding other acts of the legislature, the contributions made by the New Mexico state police and the corrections department to the public employees' retirement association for the survivors' benefit fund are hereby suspended.
NM Stat § 10-11-136.1 (2021)
2021 New Mexico Statutes|Chapter 10 - Public Officers and Employees|Article 11 - Retirement of Public Officers and Employees Generally|Section 10-11-136.1 - Legal process to satisfy child support obligations.

A court of competent jurisdiction, solely for the purposes of enforcing current or delinquent child support obligations, may provide by appropriate order for withholding amounts due in satisfaction of current or delinquent child support obligations from the pensions or other benefits provided for in the Public Employees Retirement Act and for payment of such amounts to third parties. The court shall not alter the manner in which the amount of pensions or other benefits is calculated by the association. The court shall not cause any increase in the actuarial present value of the pensions or other benefits to be paid by the association. Payments made pursuant to such orders shall only be made when member contributions are refunded or a pension is payable in accordance with the provisions of the Public Employees Retirement Act; in no case shall more money be paid out, either in a lump sum or in monthly benefits, of association funds in enforcement of current or delinquent child support obligations than would otherwise be payable at that time. History: 1978 Comp., § 10-11-136.1, enacted by Laws 1989, ch. 125, § 2; 1993, ch. 160, § 8. ANNOTATIONSCross references. — For exemption from legal process for Public Employees Retirement Act benefits, see 10-11-135 NMSA 1978. For rules governing garnishment and writs of execution in the district, magistrate, and metropolitan courts, see Rules 1-065.1, 2-801, and 3-801 NMRA, respectively. For form for claim of exemptions on executions, see Rule 4-803 NMRA. For form for order on claim of exemption and order to pay in execution proceedings, see Rule 4-804 NMRA. For form for application for writ of garnishment and affidavit, see Rule 4-805 NMRA. For form for notice of right to claim exemptions from execution, see Rule 4-808A NMRA. For form for claim of exemption from garnishment, see Rule 4-809 NMRA. The 1993 amendment, effective June 18, 1993, inserted "the" before "Public Employees Retirement Act" in the first sentence and substituted the language beginning "member contributions are refunded" and ending "Public Employees Retirement Act" for "the member terminates public employment and requests a refund of contributions or when the member retires" in the last sentence.
NM Stat § 10-11-137 (2021)
2021 New Mexico Statutes|Chapter 10 - Public Officers and Employees|Article 11 - Retirement of Public Officers and Employees Generally|Section 10-11-137 - Insurance and banking laws not applicable.

None of the laws of this state regulating insurance or insurance companies or banking institutions shall apply to the association. History: Laws 1987, ch. 253, § 137. ANNOTATIONSCross references. — For exemption from legal process for Public Employees Retirement Act benefits, see 10-11-135 NMSA 1978. For exemption from legal process for Judicial Retirement Act benefits, see 10-12B-7 NMSA 1978. For exemption from legal process for Magistrate Retirement Act benefits, see 10-12C-7 NMSA 1978. For exemption from legal process for Educational Retirement Act benefits, see 22-11-42 NMSA 1978. For exemption from legal process for interest from state police pension fund, see 29-4-10 NMSA 1978. For exemption from legal process for married persons or heads of households, see 42-10-1 NMSA 1978. Am. Jur. 2d, A.L.R. and C.J.S. references. — 67 C.J.S. Officers and Public Employees § 243.
NM Stat § 10-11-138 (2021)
2021 New Mexico Statutes|Chapter 10 - Public Officers and Employees|Article 11 - Retirement of Public Officers and Employees Generally|Section 10-11-138 - Gifts and bequests.

The retirement board is authorized and empowered to receive donations, gifts and bequests and credit them to the income fund. History: Laws 1987, ch. 253, § 138. ANNOTATIONSEffect of gift on annuity. — A retired member of the public employees' retirement association who was granted an annuity effective March 20, 1957, of $66.13 per month could not reduce his annuity by $1.00 per month by contributing or giving said $1.00 per month as a gift to the public employees' retirement association. 1959 Op. Att'y Gen. No. 59-119. Public Employees Retirement Board members could not accept expense-paid trip. — Public Employees Retirement Board members could not accept an offer of an expense-paid trip to Columbus, Ohio to be hosted by Public Employees Benefit Services Corporation. 1989 Op. Att'y Gen. No. 89-21.
NM Stat § 10-11-139 (2021)
2021 New Mexico Statutes|Chapter 10 - Public Officers and Employees|Article 11 - Retirement of Public Officers and Employees Generally|Section 10-11-139 - Repealed.

ANNOTATIONSRepeals. — Laws 1993, ch. 29, § 2 repealed 10-11-139 NMSA 1978, as enacted by Laws 1987, ch. 176, § 1, relating to the applicability of definitions, effective June 18, 1993. For provisions of former section, see the 1992 NMSA 1978 on NMOneSource.com.
NM Stat § 10-11-140 (2021)
2021 New Mexico Statutes|Chapter 10 - Public Officers and Employees|Article 11 - Retirement of Public Officers and Employees Generally|Section 10-11-140 - Repealed.

ANNOTATIONSRepeals. — Laws 1989, ch. 80, § 2 repealed 10-11-140 NMSA 1978, as amended by Laws 1988, ch. 110, § 1, relating to purchase of service credit, effective July 1, 1992.
NM Stat § 10-11-142 (2021)
2021 New Mexico Statutes|Chapter 10 - Public Officers and Employees|Article 11 - Retirement of Public Officers and Employees Generally|Section 10-11-142 - Notice of eligibility and changes in benefits.

The association shall give written notice, to the member's last known address of record, to a member when: A. the member meets the minimum age and service requirements for normal retirement pursuant to the coverage plan applicable to the member; or B. when a change has been made, by law or rule, to a retirement requirement that applied to the member prior to the change or to the amount of normal retirement pension for which the member would have been eligible prior to the change. History: Laws 2009, ch. 158, § 1. ANNOTATIONSEffective dates. — Laws 2009, ch. 158, § 2 made Laws 2009, ch. 158, § 1 effective July 1, 2009.
NM Stat § 10-11-143 (2021)
2021 New Mexico Statutes|Chapter 10 - Public Officers and Employees|Article 11 - Retirement of Public Officers and Employees Generally|Section 10-11-143 - Contribution rate reductions; coverage plan funded ratio. (Effective July 1, 2022.)

A. Prior to May 1 of each year, the retirement board shall certify to the association the coverage plan funded ratio for each coverage plan as of June 30 of the preceding calendar year.B. If a certified coverage plan funded ratio is greater than or equal to eighty percent pursuant to Subsection A of this section, the retirement board shall certify to the association the projected funded ratio of the coverage plan, including any potential contribution rate reductions, for July 1 of the next succeeding fiscal year.C. If the projected coverage plan funded ratio, calculated pursuant to Subsection B of this section, is equal to or greater than:(1) eighty percent and less than ninety percent, the employer and employee contribution rates for the coverage plan shall each be reduced by five-tenths percent in the next fiscal year;(2) ninety percent and less than one hundred percent, the employer and employee contribution rates for the coverage plan shall each be reduced by one percent in the next fiscal year; or(3) one hundred percent, the employer and employee contribution rates for the coverage plan shall each be reduced by two percent in the next fiscal year.D. The percentage of the employer and employee contribution shall not be reduced to less than the employer and employee contribution rates in effect on June 30, 2020. History: Laws 2020, ch. 11, § 62. ANNOTATIONSEffective dates. — Laws 2020, ch. 11, § 67 makes Laws 2020, ch. 11, § 62 effective July 1, 2022.