reglab/statecodes huggingface dataset:
2023 New Mexico Statutes › Chapter 22 - Public Schools › Article 11 - Educational Retirement › Section 22-11-23.2 - Retirement eligibility membership on or after July 1, 2013.

A. A member who initially became a member on or after July 1, 2013 or a member who was a member at any time prior to July 1, 2013 and had, before that date, been refunded all member contributions pursuant to Subsection A of Section 22-11-15 NMSA 1978, and had not restored all refunded contributions and interest before July 1, 2013, shall be eligible for retirement benefits when:
(1) the member is any age and has thirty or more years of earned service credit; provided that the benefits of a member who retires pursuant to this paragraph prior to attaining the age of fifty-five years shall be reduced to an amount equal to the actuarial equivalent of the benefit the member would receive if the member had retired at the age of fifty-five years. The board shall recalculate the actuarial factors on which benefits are reduced no less frequently than every ten years beginning July 1, 2013. The benefits of a retired member that have been reduced at the time of retirement pursuant to this paragraph shall not be subject to further change based upon the board's recalculation of the actuarial factors;
(2) the member is at least sixty-seven years of age and has five or more years of earned service credit; or
(3) the sum of the member's age and years of earned service credit equals at least eighty; provided that a member who retires pursuant to this paragraph shall be subject to the benefit reductions provided in Subsection I of Section 22-11-30 NMSA 1978.
B. A member shall be subject to the provisions of this section as they existed at the beginning of the member's last cumulated four quarters of earned service credit, regardless of later amendment.
History:
1978 Comp., § 22-11-23.2, enacted by Laws 2013, ch. 61, § 4.
ANNOTATIONS
Effective dates.
— Laws 2013, ch. 61, § 8 made Laws 2013, ch. , § 3 effective July 1, 2013.
2023 New Mexico Statutes › Chapter 22 - Public Schools › Article 11 - Educational Retirement › Section 22-11-23.3 - Retirement eligibility; initial membership on or after July 1, 2019.

A member who initially became a member on or after July 1, 2019 or a member who was a member before July 1, 2019 and had, before that date, been refunded all member contributions in accordance with Subsection A of Section 22-11-15 NMSA 1978 and had not restored all refunded contributions and interest before July 1, 2019, is eligible for retirement benefits when:
A. the member is any age and has thirty or more years of earned service credit;
B. the member is at least sixty-seven years of age and has five or more years of earned service credit; or
C. the sum of the member's age and years of earned service credit equals at least eighty.
History:
1978 Comp., § 22-11-23.3, enacted by Laws 2019, ch. 258, § 2.
ANNOTATIONS
Effective dates.
— Laws 2019, ch. 258, § 8 made Laws 2019, ch. 258, § 2 effective July 1, 2019.
2023 New Mexico Statutes › Chapter 22 - Public Schools › Article 11 - Educational Retirement › Section 22-11-24 - Retirement benefits; minimum contributory employment.

A. A member must have acquired not less than five years of contributory employment to be eligible for retirement benefits pursuant to the Educational Retirement Act.
B. A member desiring to retire before having completed five years of contributory employment shall be limited to the maximum benefit he would have been entitled to receive under any statute repealed by the Educational Retirement Act. A member may acquire five years or less of contributory employment by contributing to the fund, for each year of contributory employment desired, a sum equal to the prevailing combined contributions of the member and the local administrative unit in effect at the time the contributory employment is acquired. This contribution shall be computed on the member's average annual salary for the last five years of employment plus an additional sum as interest from the effective date of the Educational Retirement Act as fixed by the board, but not to exceed three percent a year.
C. Years of contributory employment purchased pursuant to this section shall not be considered as an addition to service actually performed in computing the sum of the member's retirement benefit.
D. The retirement benefits of members retired pursuant to the Educational Retirement Act prior to July 1, 1959 and who have acquired contributory employment years by purchase, shall be computed upon the basis of the amount paid therefor.
History:
1953 Comp., § 77-9-23, enacted by Laws 1967, ch. 16, § 147.
ANNOTATIONS
Effective dates.
— The Educational Retirement Act, enacted as part of the Public School Code (Laws 1967, ch. 16), contains no effective date. However, Laws 1967, ch. 16, § 303, made the Public School Code effective on July 1, 1967.
2023 New Mexico Statutes › Chapter 22 - Public Schools › Article 11 - Educational Retirement › Section 22-11-25 - Retirement; reemployment.

A. A member retired pursuant to the provisions of the Educational Retirement Act may be removed from retirement status by returning to employment. A reemployed member shall make regular contributions pursuant to the Educational Retirement Act. Upon termination of reemployment, the member shall be eligible for retirement benefits again based upon all service credit acquired. In no case shall the retirement benefits be less than the member was receiving prior to the member's reemployment.
B. At the time of retirement following a period of reemployment, the member's retirement benefits shall be paid in accordance with the terms of the option selected at the time of the first retirement.
History:
1953 Comp., § 77-9-24, enacted by Laws 1967, ch. 16, § 148; 2017, ch. 21, § 10.
ANNOTATIONS
The 2017 amendment,
effective June 16, 2017, removed outdated provisions in the section regarding retirement benefits following reemployment; in Subsection A, after "Education Retirement Act may", deleted "remove himself" and added "be removed", after "based upon all", deleted "service-credit" and added "service credit", after "receiving prior to", deleted "his" and added "the member's", and after the next occurrence of "reemployment", deleted the remainder of the subsection, which related to the amount of retirement benefits following reemployment; deleted former Subsection B and redesignated former Subsection C as Subsection B; and in Subsection B, after "first retirement.", deleted the remainder of the subsection.
Suspension of benefits upon resumption of employment.
— An employee of a public school system, retired pursuant to the provisions of the Educational Retirement Act, may not resume employment with the department of education without suspension of her educational retirement benefits. 1987 Op. Att'y Gen. No. 87-38 (decided under former Section 10-11-8 NMSA 1978).
The suspension provisions of the disbursing system
apply to the benefits granted pursuant to the [Public Employees Retirement] Reciprocity Act to a member retired under the public employee retirement association and the educational retirement system who resumes employment. 1988 Op. Att'y Gen. No. 88-22.
Am. Jur. 2d, A.L.R. and C.J.S. references. —
Validity of legislation providing for additional retirement or disability allowances for public employees previously retired or disabled, 27 A.L.R.2d 1442.
2023 New Mexico Statutes › Chapter 22 - Public Schools › Article 11 - Educational Retirement › Section 22-11-25.2 - Persons receiving retirement benefits pursuant to the Public Employees Retirement Act.

A. An employee who is retired pursuant to the Public Employees Retirement Act [Chapter 10, Article 11 NMSA 1978] and who has not suspended retirement benefits received pursuant to that act shall not make contributions to the fund as otherwise required by the Educational Retirement Act. A local administrative unit that employs such a retiree shall make contributions to the fund as required by that act.
B. An employee who receives retirement benefits pursuant to the Public Employees Retirement Act is not entitled to acquire or purchase service credit for the period of employment with a local administrative unit.
History:
Laws 2003, ch. 248, § 1; 2019, ch. 258, § 4; 2020, ch. 10, § 3.
ANNOTATIONS
The 2020 amendment,
effective May 20, 2020, exempted retirees under the Public Employees Retirement Act from contribution requirements under the Educational Retirement Act if they have not suspended retirement benefits; in Subsection A, after "shall", added "not"; and deleted former Subsection B, which related to certain employees exempted from contribution requirements, and redesignated the succeeding subsection accordingly.
The 2019 amendment,
effective July 1, 2019, provided that an employee hired prior to July 1, 2019 by a local administrative unit as a police officer, who is retired and who has not suspended retirement benefits, shall not make contributions to the fund so long as the employee remains working as a certified police officer, and provided that the local administrative unit that hired the certified police officer shall make contributions to the fund; in Subsection A, after "that act shall", deleted "not", and added the last sentence; added a new Subsection B and redesignated former Subsection B as Subsection C; in Subsection C, after "Retirement Act", deleted "and who does not make contributions to the fund", and after "service credit", deleted "or to acquire or purchase service credit in the future"; and deleted former Subsection C.
2023 New Mexico Statutes › Chapter 22 - Public Schools › Article 11 - Educational Retirement › Section 22-11-26 - Death during reemployment.

If a member dies during a period of reemployment following retirement pursuant to the Educational Retirement Act, the benefits to be paid shall be determined according to the following:
A. if the member did not elect to exercise Option B or C pursuant to Subsection A of Section 22-11-29 NMSA 1978 at the time of first retirement, the member's beneficiary or estate shall receive an amount equal to the sum of the member's contributions, including contributions made by the member during the period of last reemployment, plus accumulated interest at the rate set by the board, less the total benefits received prior to the last reemployment; or
B. if a retirement benefit has been paid to the member pursuant to either Option B or Option C of Subsection A of Section 22-11-29 NMSA 1978 prior to reemployment, the reemployed member shall be considered as retiring on the day preceding the date of death, and the benefits due the surviving beneficiary, computed as of that date, shall be commenced effective on the date of death in accordance with the terms of the option elected.
History:
1953 Comp., § 77-9-25, enacted by Laws 1967, ch. 16, § 149; 1981, ch. 294, § 1; 1993, ch. 69, § 8; 1999, ch. 93, § 1; 2003, ch. 39, § 5.
ANNOTATIONS
The 2003 amendment,
effective June 20, 2003, in Subsection A inserted "Subsection A of" following "pursuant to" near the beginning and substituted "rate set by the board," for "average rate earned by the fund during the preceding five fiscal years," near the end; and inserted "of Subsection A" following "Option C" near the beginning of Subsection B.
The 1999 amendment,
effective June 18, 1999, in Subsection A substituted the language beginning "an amount" to the end for "the difference, if any, between the member's total contribution and total benefits received prior to last reemployment, plus contributions made by the member during the period of last reemployment".
The 1993 amendment,
effective June 18, 1993, substituted "retirement" for "retiring" in the introductory paragraph and substituted the language beginning "last reemployment" for "death" at the end of Subsection A.
2023 New Mexico Statutes › Chapter 22 - Public Schools › Article 11 - Educational Retirement › Section 22-11-27 - Deferred retirement; restriction.

A. A member who is eligible for retirement may continue in employment and shall continue to pay contributions as provided by the Educational Retirement Act.
B. Provided that the contributions that the member has made are left in the fund, a member eligible for retirement benefits pursuant to the provisions of Section 22-11-23, 22-11-23.1 or 22-11-23.2 NMSA 1978 may terminate employment and retire at any time upon satisfying the applicable age and earned service requirements for retirement.
C. A member shall not be on a retirement status while engaged in employment unless the employment falls within an exception established by statute or rule of the board.
History:
1953 Comp., § 77-9-26, enacted by Laws 1967, ch. 16, § 150; 1971, ch. 12, § 3; 1974, ch. 5, § 3; 2003, ch. 39, § 6; 2013, ch. 61, § 5.
ANNOTATIONS
Cross references.
— For retirement eligibility generally,
see
22-11-23 NMSA 1978.
The 2013 amendment,
effective July 1, 2013, permitted a member who is eligible for retirement benefits to retire upon satisfaction of the applicable age and earned service requirements; in Subsection A, after "A member", added "who is"; in Subsection B, at the beginning to the sentence, deleted "A member" and added "Provided that the contributions that the member has made are left in the fund, a member eligible for retirement benefits pursuant to the provisions of Section 22-11-23, 22-11-23.1 or 22-11.23.2 NMSA 1978" and after "at any time", deleted "after his age and his earned service credit equal the sum of seventy-five if the contributions he has made are left in the fund" and added "upon satisfying the applicable age and earned service requirements for retirement"; deleted former Subsection C, which provided for the retirement of a member who has five years or more of earned service credit; and in Subsection C, after "A member shall", added "not" and after "employment falls within", deleted "exceptions" and added "an exception".
The 2003 amendment,
effective June 20, 2003, added "unless the employment falls within exceptions established by statute or rule of the board" at the end of Subsection D.
2023 New Mexico Statutes › Chapter 22 - Public Schools › Article 11 - Educational Retirement › Section 22-11-28 - Applications for retirement; effective date.

A. Application for retirement shall be made by a member on forms provided by the board.
B. Retirement pursuant to the Educational Retirement Act shall become effective on July 1 following approval of the application for retirement by the board. With approval of the board and the local administrative unit employing the member, retirement pursuant to the Educational Retirement Act may become effective on the first day of any month during the year.
History:
1953 Comp., § 77-9-27, enacted by Laws 1967, ch. 16, § 151; 1975, ch. 191, § 2.
2023 New Mexico Statutes › Chapter 22 - Public Schools › Article 11 - Educational Retirement › Section 22-11-30.1 - Educational retirement; qualified excess benefit.

The educational retirement board, by rule, may establish and maintain a qualified excess benefit arrangement under Section 415(m) of the United States Internal Revenue Code of 1986 for employees hired before July 1, 1999. The amount of annual benefit that would be payable but for the limitation imposed by Section 415 of the United States Internal Revenue Code of 1986 to an employee hired before July 1, 1999 shall be paid from a qualified excess benefit arrangement established and maintained pursuant to this section.
History:
Laws 1999, ch. 274, § 1.
ANNOTATIONS
Cross references.
— For Section 415 of the Internal Revenue Code,
see
26 U.S.C. § 415.
2023 New Mexico Statutes › Chapter 22 - Public Schools › Article 11 - Educational Retirement › Section 22-11-32 - Adjustment of benefits.

A. If retirement or disability benefits cause a decrease in the amount of monetary payments due to a member or beneficiary from any public agency, the retirement or disability benefits shall be reduced to result in the maximum total benefits to the member or beneficiary.
B. If there is a change in the effect of retirement or disability benefits on any monetary payments due to a member or beneficiary from any public agency, the retirement or disability benefits shall be adjusted to result in the maximum total benefits to the member or beneficiary. In no event shall the retirement or disability benefits be increased in an amount greater than that authorized by the Educational Retirement Act.
C. The provisions of this section are mandatory and are not subject to option or election by any member or beneficiary. Each member or beneficiary shall inform the director of all facts necessary for the director to carry out the provisions of this section.
D. If the director, in good faith, seeks to ascertain all facts necessary to comply with provisions of this section, but payment of retirement or disability benefits is made without making an adjustment as provided by this section, neither the board, the director or any public officer or employee shall be liable because of the payment.
E. As used in this section:
(1) "retirement or disability benefits" means retirement or disability benefits payable to a member or beneficiary pursuant to the Educational Retirement Act ;
(2) "public agency" includes the federal government, any department or agency of the federal government, any state and any department, agency and political subdivision of a state; and
(3) "total benefits" means retirement or disability benefits plus any other monetary payments due to the member or beneficiary from any public agency.
History:
1953 Comp., § 77-9-31, enacted by Laws 1967, ch. 16, § 155.
ANNOTATIONS
Cross references.
— For effect of article upon benefits being paid under laws repealed by article or under laws establishing public employees retirement association,
see
22-11-44 NMSA 1978.
2023 New Mexico Statutes › Chapter 22 - Public Schools › Article 11 - Educational Retirement › Section 22-11-33 - Earned service credit.

A. Upon a member filing an application for retirement or disability benefits, earned service credit for the time of contributory employment shall be certified by the director and subject to the review of the board.
B. A member shall be certified to have earned service credit for that period of time when the member was engaged in prior employment. Earned service credit shall not be certified for that period of employment for which the contributions have been withdrawn from the fund by the member.
C. Earned service credit shall be certified for periods of employment interrupted for some cause other than retirement or disability. This shall be done if a member withdrawing contributions from the fund for this period returns to the fund, for each year of earned service credit desired, a sum equal to the member's contribution to the fund during this period and an additional sum as interest compounded annually from the date the contributions were withdrawn to the date of payment of the amount of returned contributions at the rate of interest set by the board.
History:
1953 Comp., § 77-9-33, enacted by Laws 1967, ch. 16, § 156; 2003, ch. 39, § 9; 2017, ch. 21, § 13.
ANNOTATIONS
Cross references.
— For reciprocal service credits under Public Employees Retirement Reciprocity Act,
see
10-13A-4 NMSA 1978.
The 2017 amendment,
effective June 16, 2017, removed the provision that allowed the educational retirement board to accept installment payments for allowed service credit; in Subsection B, after "period of time when", deleted "he" and added "the member"; and in Subsection C, deleted the last sentence of the section which provided "These payments may be made in installments, and, if the payments made to the fund are insufficient for the restoration of any full year of earned service credit, the member shall be certified to have acquired earned service credit for that period of time which is proportionate to the payments made.".
The 2003 amendment,
effective June 20, 2003, substituted "set by the board" for "earned by the fund during the five-year period immediately preceding the application for the earned service-credit" following "rate of interest" near the middle of Subsection C.
2023 New Mexico Statutes › Chapter 22 - Public Schools › Article 11 - Educational Retirement › Section 22-11-34.1 - Sick leave service credit.

A. Beginning on July 1, 2020, a member who has acquired the minimum number of years of contributory employment to be eligible for retirement benefits under the Educational Retirement Act may pay to have unused sick leave, earned from the member's contributory employment and for which the member has otherwise not received payment, converted to earned service credit, up to a maximum of:
(1) six days of unused sick leave per year of contributory employment; and
(2) four calendar quarters of earned service credit.
B. The following standards apply to the conversion of unused sick leave to earned service credit under this section:
(1) eight hours of sick leave equals one day of sick leave;
(2) thirty-eight to eighty-two days of sick leave equals one quarter of earned service credit;
(3) eighty-three to one hundred twenty-seven days of sick leave equals two quarters of earned service credit;
(4) one hundred twenty-eight to one hundred seventy-two days of sick leave equals three quarters of earned service credit; and
(5) one hundred seventy-three or more days of sick leave equals four quarters of service credit.
C. A member who elects to convert unused sick leave to earned service credit under this section shall, in accordance with rules that the board shall establish, submit to the board verification from local administrative units of the member's unused sick leave.
D. The cost to a member of converting unused sick leave to earned service credit is the actuarial present value, as determined by the board, of the benefit attributable to the conversion. The board shall establish rules pertaining to payments for converting unused sick leave to earned service credit.
History:
Laws 2019, ch. 31, § 1.
ANNOTATIONS
Effective dates.
— Laws 2019, ch. 31, § 2 made Laws 2019, ch. 31 effective July 1, 2020.
2023 New Mexico Statutes › Chapter 22 - Public Schools › Article 11 - Educational Retirement › Section 22-11-35 - Disability benefit; eligibility; medical examination.

A. A member shall be eligible for disability benefits if the member has acquired ten years or more of earned service credit and if the board certifies the member to be totally disabled to continue the member's employment and unable to obtain and retain other gainful employment commensurate with the member's background, education and experience.
B. Prior to any certification of disability by the board, the board shall require each applicant for disability benefits to submit medical records as required by the board in support of the applicant's disability claim.
History:
1953 Comp., § 77-9-35, enacted by Laws 1967, ch. 16, § 158; 2017, ch. 21, § 15.
ANNOTATIONS
The 2017 amendment,
effective June 16, 2017, removed the provision that required applicants for disability benefits to submit to a medical examination by a doctor approved by the educational retirement board, and required applicants for disability benefits to submit his or her medical records in support of the applicant's disability claim; in Subsection A, substituted "the member" for "he" or "his" throughout the subsection, and after "earned", changed "service-credit" to "service credit"; and in Subsection B, after "submit", deleted "himself to a medical examination by the medical authority" and added "medical records as required by the board in support of the applicant's disability claim".
Scope of board's authority.
— The legislature, through this section has granted the board the authority to award disability benefits if certain requirements are met. If the board certifies the eligible member to be totally disabled, the board must award benefits. Once the determination of total disability is made, it is the duty of the board to certify the member as disabled. There is nothing in this grant of authority which authorizes the board to refuse to accept an application for disability if the applicant continues to hold a property interest in a bus contract.
Gonzales v. N.M. Educ. Retirement Bd.
, 1990-NMSC-024, 109 N.M. 592, 788 P.2d 348, cert. denied, 498 U.S. 818, 111 S. Ct. 61, 112 L. Ed. 2d 36 (1990).
2023 New Mexico Statutes › Chapter 22 - Public Schools › Article 11 - Educational Retirement › Section 22-11-37 - Disability benefit.

A. The annual disability benefit shall be equal to two percent of the member's average annual salary multiplied by the number of years of the member's total service-credit if the result is greater than one-third of the member's average annual salary. If the result of that formula is less than one-third of the member's average annual salary, the annual disability benefit shall be equal to the lesser of the following amounts:
(1) two percent of the member's average annual salary multiplied by the sum of the member's total service-credit plus the number of years, calculated to the nearest completed quarter, from the effective date of the member's disability to the member's sixtieth birthday; or
(2) one-third of the member's average annual salary.
B. A member's average annual salary for the purpose of computing disability benefits shall be the average salary for the last five years of employment or for any other consecutive five-year period for which contribution was made by the member, whichever is higher.
C. The annual disability benefit shall be paid in equal monthly installments.
History:
1953 Comp., § 77-9-37, enacted by Laws 1967, ch. 16, § 160; 1973, ch. 350, § 1; 1991, ch. 140, § 4.
ANNOTATIONS
The 1991 amendment,
effective June 14, 1991, in Subsection A, substituted "two percent" for "one and one-half percent" in the first sentence and in Paragraph (1); inserted "annual" preceding "salary" in Subsection B; and made minor stylistic changes in Subsections A and B.
2023 New Mexico Statutes › Chapter 22 - Public Schools › Article 11 - Educational Retirement › Section 22-11-38 - Disability retirement.

A member receiving disability benefits upon attaining the age of sixty years shall be considered as retiring pursuant to the Educational Retirement Act at the rate of benefits received for the disability.
History:
1953 Comp., § 77-9-38, enacted by Laws 1967, ch. 16, § 161.
2023 New Mexico Statutes › Chapter 22 - Public Schools › Article 11 - Educational Retirement › Section 22-11-39 - Report of improved health; penalty.

A. A member receiving disability benefits shall report to the director in writing any substantial improvement in the member's disability within thirty days after the member has or reasonably should have knowledge of the improvement.
B. A member failing to report to the director as required by this section is guilty of a petty misdemeanor.
History:
1953 Comp., § 77-9-39, enacted by Laws 1967, ch. 16, § 162; 2017, ch. 21, § 17.
ANNOTATIONS
Cross references.
— For requirement of reports and examinations of members receiving disability benefits generally,
see
22-11-36 NMSA 1978.
The 2017 amendment,
effective June 16, 2017, in Subsection A, after "improvement in", deleted "his" and added "the member's", after "thirty days after", deleted "he" and added "the member"; and in Subsection B, after "petty", changed "misdeameanor" to "misdemeanor".
2023 New Mexico Statutes › Chapter 22 - Public Schools › Article 11 - Educational Retirement › Section 22-11-40 - Restoration to fund.

If a member is obligated to restore any sum of money to the fund and fails or refuses to do so for a period of three months after written demand is made by the director, the member shall forfeit membership and receive no further benefits pursuant to the Educational Retirement Act. The director shall determine whether the former member's contributions to the fund exceed the total amount of disability or retirement benefits the member has received and shall withdraw from any such balance of contributions the amount of money the member is obligated to restore to the fund. Any balance of the contribution remaining in the fund shall be paid to the former member or the former member's beneficiary. In the event the money the former member is obligated to restore to the fund is not restored to the fund, the former member shall be subject to civil action by the board for its recovery.
History:
1953 Comp., § 77-9-40, enacted by Laws 1967, ch. 16, § 163; 2017, ch. 21, § 18.
ANNOTATIONS
Cross references.
— For suspension of benefits upon failure to file certificate of reexamination,
see
22-11-36 NMSA 1978.
The 2017 amendment,
effective June 16, 2017, removed the provision related to the suspension of disability benefits for the failure of a member to make a required report; in the catchline, deleted "Reports"; deleted Subsection A, which related to the suspension of disability benefits for the failure of a member to make a required report, and deleted the subsection designation "B."; in the undesignated paragraph, after "director", deleted "he" and added "the member", after "forfeit", deleted "his", after "disability or retirement benefits", deleted "he" and added "the member", and after "former member or", deleted "his" and added "the former member's".
2023 New Mexico Statutes › Chapter 22 - Public Schools › Article 11 - Educational Retirement › Section 22-11-41 - Repealed.

ANNOTATIONS
Repeals.
— Laws 1993, ch. 69, § 11 repealed 22-11-41 NMSA 1978, as enacted by Laws 1967, ch. 16, § 164, relating to prohibitions on insurance and continued eligibility after retirement, effective June 18, 1993. For provisions of former section,
see
the 1992 NMSA 1978 on
NMOneSource.com.
2023 New Mexico Statutes › Chapter 22 - Public Schools › Article 11 - Educational Retirement › Section 22-11-43 - Insurance or banking laws inapplicable.

In the absence of specific provisions to the contrary, no law of this state regulating insurance policies, insurance companies or banking institutions shall apply to the administration of the Educational Retirement Act.
History:
1953 Comp., § 77-9-43, enacted by Laws 1967, ch. 16, § 166.
2023 New Mexico Statutes › Chapter 22 - Public Schools › Article 11 - Educational Retirement › Section 22-11-44 - Saving clause; retirement benefits; disability benefits.

A. Any person retired pursuant to the provisions of any laws repealed by the Educational Retirement Act shall be considered to have retired pursuant to the Educational Retirement Act and shall continue to receive retirement benefits in the same amount as received prior to the enactment of the Educational Retirement Act.
B. Any person receiving disability benefits pursuant to any laws repealed by the Educational Retirement Act shall continue to receive disability benefits in the same amount as received prior to the enactment of the Educational Retirement Act and shall be considered to have been granted disability benefits pursuant to and be subject to the provisions of the Educational Retirement Act.
C. Nothing in the Educational Retirement Act shall be construed to adversely affect any benefits being paid pursuant to any laws repealed by the Educational Retirement Act or any laws establishing the public employees retirement association.
D. No person who was covered under the provisions of any statute repealed by the Educational Retirement Act shall be retired at a monthly benefit that is less than the person would have received had the person's employment continued to be performed under such repealed provisions.
History:
1953 Comp., § 77-9-44, enacted by Laws 1967, ch. 16, § 167; 2017, ch. 21, § 19.
ANNOTATIONS
The 2017 amendment,
effective June 16, 2017, made technical changes; in Subsection C, after "public employees retirement association", deleted "of New Mexico"; and in Subsection D, after "No person who was", deleted "heretofore", after "monthly benefit", deleted "which" and added "that", after "less than", deleted "he" and added "the person", and after "received had", deleted "his" and added "the person's".
2023 New Mexico Statutes › Chapter 22 - Public Schools › Article 11 - Educational Retirement › Section 22-11-44.1 - Repealed.

ANNOTATIONS
Repeals.
— Laws 1993, ch. 69, § 11 repealed 22-11-44.1 NMSA 1978, as enacted by Laws 1982, ch. 37, § 2, relating to the transfer of assets of the New Mexico activities association, effective June 18, 1993. For provisions of former section,
see
the 1992 NMSA 1978 on
NMOneSource.com.
2023 New Mexico Statutes › Chapter 22 - Public Schools › Article 11 - Educational Retirement › Section 22-11-45 - Repealed.

History:
1953 Comp., § 77-9-45, enacted by Laws 1967, ch. 16, § 168; repealed by Laws 2017, ch. 21, § 20.
ANNOTATIONS
Repeals.
— Laws 2017, ch. 21, § 20 repealed 22-11-45 NMSA 1978, as enacted by Laws 1967, ch. 16, § 168, relating to elections of the public employees retirement association, payment of contributions, effective June 16, 2017. For provisions of former section,
see
the 2016 NMSA 1978 on
NMOneSource.com
.
2023 New Mexico Statutes › Chapter 22 - Public Schools › Article 11 - Educational Retirement › Section 22-11-48 - Alternative retirement plan; contributory employment.

A. Contributions made by a qualifying state educational institution on behalf of a participant together with any interest accrued on those contributions shall be credited to the benefit of the participant and shall be distributed or treated as agreed upon between the contractor or carrier providing the alternative retirement plan benefits and the board.
B. Contributions of a participant who terminates employment together with any applicable interest accrued on those contributions shall remain the property of the participant and the contributions, interest and any benefits based on them shall be treated as agreed upon between the contractor or carrier providing the alternative retirement plan benefits and the board.
History:
1978 Comp., § 22-11-48, enacted by Laws 1991, ch. 118, § 6.
2023 New Mexico Statutes › Chapter 22 - Public Schools › Article 11 - Educational Retirement › Section 22-11-50 - Alternative retirement plan; tax treatment.

The board shall have the authority to determine whether the alternative retirement plan shall be qualified under Section 401(a) or 403(a) of the Internal Revenue Code of 1986, as amended, and shall make that determination based upon which choice is most advantageous to the participants as a whole.
History:
1978 Comp., § 22-11-50, enacted by Laws 1991, ch. 118, § 8.
ANNOTATIONS
Cross references.
— For Sections 401(a) and 403(a) of the Internal Revenue Code,
see
26 U.S.C. §§ 401(a) and 403(a), respectively.
2023 New Mexico Statutes › Chapter 22 - Public Schools › Article 11 - Educational Retirement › Section 22-11-51 - Alternative retirement plans; benefits; transfer upon unemployment.

A. No retirement, death or other benefit shall be paid by the board from the fund for services credited under the alternative retirement plan. Such benefits are payable to participants or their beneficiaries only by the appropriate alternative retirement plan contractor or carrier in accordance with the terms of the applicable contracts or certificates; provided, however, that retirement benefits shall, at the option of the participant, be paid in the form of a lifetime income, if held in an annuity contract; payments for a term of years; or a single-sum cash payment.
B. Upon termination of employment with a qualifying state educational institution, a participant may transfer or roll over the account balance to another eligible retirement plan or may withdraw the balance as permitted for a plan qualified under Section 401(a) of the Internal Revenue Code of 1986.
History:
1978 Comp., § 22-11-51, enacted by Laws 1991, ch. 118, § 9; 1999, ch. 261, § 4; 2009, ch. 9, § 2.
ANNOTATIONS
Cross references.
— For Section 401(a)(17) of the federal Internal Revenue Code,
see
26 U.S.C. § 401(a).
The 2009 amendment,
effective March 18, 2009, in Subsection A, gives a participant the option to have benefits paid in the form of a lifetime income if the benefit is held in an annuity contract, payments for a term of years, or a single-sum cash payment; and added Subsection B.
The 1999 amendment,
effective June 18, 1999, purported to amend this section but made no change.
2023 New Mexico Statutes › Chapter 22 - Public Schools › Article 11 - Educational Retirement › Section 22-11-52 - Alternative retirement plan; selection of contractor or carrier; administration.

A. The board shall solicit and review proposals for providing retirement, death and any other benefits deemed desirable by the board for participants in the alternative retirement plan. The board shall solicit proposals for providing the benefits through contracts or investments held in trust or a custodial account that meets the requirements of Section 401(a) or 403(a) of the Internal Revenue Code of 1986, including, without limitation, annuity contracts or certificates that are fixed or variable in nature or some combination thereof.
B. The board, after consultation with the qualifying state educational institutions, shall select no less than two nor more than five contractors or carriers to provide the contracts or certificates. In making its selection, the board shall consider, among other things, the following criteria:
(1) the portability of the benefits offered, based upon the number of states and institutions of higher education in which the offeror provides similar benefits;
(2) the nature and extent of the rights and benefits that would be provided to the participants, including the right to maintain their accounts or to transfer the balance to another eligible retirement plan upon termination of employment with the qualifying educational institution, to the extent permitted for a plan qualified under Section 401(a) of the Internal Revenue Code of 1986;
(3) the relation of the rights and benefits to the contributions that would be made by the participants and the qualifying state educational institutions;
(4) the ability of the offeror to provide the rights and benefits;
(5) the suitability of the rights and benefits for recruitment and retention of employees by the qualifying state educational institutions; and
(6) compliance with the requirements of the Educational Retirement Act and Section 401(a) or 403(a) of the Internal Revenue Code of 1986.
C. The board shall provide for the administration and maintenance of the alternative retirement plan and may adopt rules and regulations for that purpose.
History:
1978 Comp., § 22-11-52, enacted by Laws 1991, ch. 118, § 10; 2009, ch. 9, § 3.
ANNOTATIONS
Cross references.
— For Sections 401(a)(17) and 403(a) of the federal Internal Revenue Code,
see
26 U.S.C. §§ 401(a)(17) and 403(a), respectively.
The 2009 amendment,
effective March 18, 2009, in Subsection A, required the board to solicit proposals for providing benefits through contracts or investments held in trust or a custodial account that meets the requirements of Section 401(a) or 403(a) of the Internal Revenue Code; in Paragraph (2) of Subsection B, provided that the rights of participants include the right to maintain an account or to transfer the balance of an account to another eligible retirement plan upon termination of employment to the extent permitted under Section 401(a) of the Internal Revenue Code; and in Paragraph (6) of Subsection B, added compliance with Section 401(a) or 403(a) of the Internal Revenue Code as a criteria.
2023 New Mexico Statutes › Chapter 22 - Public Schools › Article 11 - Educational Retirement › Section 22-11-53 - Correction of errors and omissions; estoppel.

A. If an error or omission in an application for retirement or its supporting documents results in an overpayment to a member or the beneficiary of a member, the board shall correct the error or omission and adjust all future payments accordingly. The board shall recover all overpayments that are made.
B. A member or the beneficiary of a member who is paid more than the amount owed because that member or beneficiary provided fraudulent information on the application for retirement shall be liable for the repayment of that amount to the fund, interest on that amount at the rate set by the board and costs of collection, including attorney fees. Recovery of overpayments shall extend back to the date of the first payment that was made based on fraudulent information.
C. The board shall not be estopped from acting in accordance with applicable statutes because of statements of fact or law made by the board or its employees.
History:
Laws 1998, ch. 38, § 2; 2023, ch. 156, § 20.
ANNOTATIONS
The 2023 amendment,
effective June 16, 2023, in Subsection B, after "amount", deleted "he is", after "owed because", deleted "he" and added "that member or beneficiary", and after "information on", deleted "his" and added "the".
2023 New Mexico Statutes › Chapter 22 - Public Schools › Article 11 - Educational Retirement › Section 22-11-54 - Disclosure of third-party marketers; penalty.

A. The 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 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, § 3.
ANNOTATIONS
Effective 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.
2023 New Mexico Statutes › Chapter 22 - Public Schools › Article 11 - Educational Retirement › Section 22-11-55 - Disclosure of member or retired member information; penalty.

A. Other than names of members and local administrative units by which a member was employed; dates of employment, retirement and reported death; service credit; reported salary; retirement and disability benefits; and amounts of contributions made by members and local administrative units, neither the board nor its employees or contractors shall allow public inspection or disclosure of any information regarding a member or retired member to anyone except:
(1) the member, retired member or the spouse or authorized representative of the member or retired member;
(2) other persons specifically identified in a prior release and consent, in the form prescribed by the board, executed by the member, retired member, spouse or authorized representative; or
(3) the attorney general, appropriate law enforcement agencies, the state auditor or the public education department or higher education department, if the information provided relates to contributions, payments or management of money received by, or the financial controls or procedures of, a local administrative unit.
B. No person receiving information disclosed by a violation of Subsection A of this section shall disclose that information to any other person unless authorized by an applicable confidentiality agreement, board rule or state law.
C. Whoever knowingly violates a provision of Subsection A or B of this section is guilty of a petty misdemeanor and shall be sentenced in accordance with Section 31-19-1 NMSA 1978.
History:
Laws 2009, ch. 240, § 1; 2009, ch. 248, § 1; 2010, ch. 60, § 1.
ANNOTATIONS
The 2010 amendment,
effective May 19, 2010, in Subsection A, after "reported salary", added "retirement and disability benefits".
2023 New Mexico Statutes › Chapter 22 - Public Schools › Article 12 - Compulsory School Attendance (Repealed.) › Section 22-12-1 - Repealed.

History:
1953 Comp., § 77-10-1, enacted by Laws 1967, ch. 16, § 169; 2003, ch. 153, § 55; repealed by Laws 2019, ch. 223, § 17.
ANNOTATIONS
Repeals.
— Laws 2019, ch. 223, § 17 repealed 22-12-1 NMSA 1978, as enacted by Laws 1967, ch. 16, § 169, relating to short title, effective June 14, 2019. For provisions of former section,
see
the 2018 NMSA 1978 on
NMOneSource.com
.
2023 New Mexico Statutes › Chapter 22 - Public Schools › Article 12 - Compulsory School Attendance (Repealed.) › Section 22-12-2 - Repealed.

History:
1953 Comp., § 77-10-2, enacted by Laws 1967, ch. 16, § 170; 1967, ch. 133, § 1; 1972, ch. 17, § 2; 1974, ch. 7, § 2; 1975, ch. 332, § 3; 1975, ch. 338, § 2; 1981, ch. 7, § 1; 1985, ch. 21, § 4; 1997, ch. 194, § 1; 2001, ch. 183, § 1; 2004, ch. 28, § 2; 2007, ch. 307, § 6; 2007, ch. 308, § 6; 2015, ch. 122, § 13; repealed by Laws 2019, ch. 223, § 17.
ANNOTATIONS
Repeals.
— Laws 2019, ch. 223, § 17 repealed 22-12-2 NMSA 1978, as enacted by Laws 1967, ch. 16, § 170, relating to compulsory school attendance, responsibility, effective June 14, 2019. For provisions of former section,
see
the 2018 NMSA 1978 on
NMOneSource.com
.
2023 New Mexico Statutes › Chapter 22 - Public Schools › Article 12 - Compulsory School Attendance (Repealed.) › Section 22-12-2.1 - Repealed.

History:
1978 Comp., § 22-12-2.1, enacted by Laws 1986, ch. 33, § 27; 1987, ch. 305, § 1; 1988, ch. 20, § 1; 1993, ch. 27, § 1; 1997, ch. 239, § 1; 1997, ch. 245, § 1; repealed by Laws 2019, ch. 223, § 17.
ANNOTATIONS
Repeals.
— Laws 2019, ch. 223, § 17 repealed Section 22-12-2.1 NMSA 1978, as enacted by Laws 1986, ch. 33, § 27, relating to interscholastic extracurricular activities, student participation, effective June 14, 2019. For provisions of former section,
see
the 2018 NMSA 1978 on
NMOneSource.com
.
2023 New Mexico Statutes › Chapter 22 - Public Schools › Article 12 - Compulsory School Attendance (Repealed.) › Section 22-12-3 - Repealed.

History:
1953 Comp., § 77-10-2.1, enacted by Laws 1971, ch. 238, § 1; 1997, ch. 258, § 1; 2003, ch. 153, § 56; 2006, ch. 94, § 42; repealed by Laws 2019, ch. 223, § 17.
ANNOTATIONS
Repeals.
— Laws 2019, ch. 223, § 17 repealed Section 22-12-3 NMSA 1978, as enacted by Laws 1971, ch. 238, § 1, relating to religious instruction excusal, effective June 14, 2019. For provisions of former section,
see
the 2018 NMSA 1978 on
NMOneSource.com.
2023 New Mexico Statutes › Chapter 22 - Public Schools › Article 12 - Compulsory School Attendance (Repealed.) › Section 22-12-3.1 - Repealed.

History:
Laws 2013, ch. 198, § 1; repealed by Laws 2019, ch. 223, § 17.
ANNOTATIONS
Repeals.
— Laws 2019, ch. 223, § 17 repealed Section 22-12-3.1 NMSA 1978, as enacted by Laws 2013, ch. 198, § 1, relating to excused absences for pregnant and parenting students, effective June 14, 2019. For provisions of former section,
see
the 2018 NMSA 1978 on
NMOneSource.com.
2023 New Mexico Statutes › Chapter 22 - Public Schools › Article 12 - Compulsory School Attendance (Repealed.) › Section 22-12-4 - Repealed.

History:
1953 Comp., § 77-10-3, enacted by Laws 1967, ch. 16, § 171; reenacted by Laws 1978, ch. 211, § 10; repealed by Laws 2019, ch. 223, § 17.
ANNOTATIONS
Repeals.
— Laws 2019, ch. 223, § 17 repealed Section 22-12-4 NMSA 1978, as enacted by Laws 1978, ch. 211, § 10, relating to right to education, effective June 14, 2019. For provisions of former section,
see
the 2018 NMSA 1978 on
NMOneSource.com.
2023 New Mexico Statutes › Chapter 22 - Public Schools › Article 12 - Compulsory School Attendance (Repealed.) › Section 22-12-5 - Repealed.

History:
1953 Comp., § 77-10-4, enacted by Laws 1967, ch. 16, § 172; 1979, ch. 55, § 1; 1990 (1st S.S.), ch. 9, § 11; repealed by Laws 2019, ch. 223, § 17.
ANNOTATIONS
Repeals.
— Laws 2019, ch. 223, § 17 repealed Section 22-12-5 NMSA 1978, as enacted by Laws 1967, ch. 16, § 172, relating to school attendance, effective June 14, 2019. For provisions of former section,
see
the 2018 NMSA 1978 on
NMOneSource.com.