reglab/statecodes huggingface dataset:
New Mexico Administrative Code › Title 2 - PUBLIC FINANCE › Chapter 80 - PUBLIC EMPLOYEES RETIREMENT › Part 1200 - LEGISLATIVE RETIREMENT › Section 2.80.1200.9 - ENROLLMENT

Current through Register Vol. 35, No. 13, July 16, 2024
A. Participation in
				state legislator member coverage plan 1 is voluntary for legislators and
				lieutenant governors whose terms of office ended on or before December 21,
				2002. Legislators and lieutenant governors may enroll in state legislator
				member coverage plan 1 by completing and filing a written application with PERA
				and paying member contributions on or before December 31, 2003 for one year or
				more of service credit earned by them after December 31, 1959. No survivor,
				estate, heir, personal representative or beneficiary of a deceased legislator
				or lieutenant governor may enroll in the plan. State legislative member
				coverage plan 1 closes to new members on December 31, 2003.
B. The board, the attorney general and
				certain retirees and members under state legislator member coverage plan 1
				entered into stipulated partial final judgments in the matter of State v.
				Public Employees Retirement Board et al., First Judicial District Court, Case
				No. SF 87-2682(C). Unless otherwise provided by law, the association is bound
				by the provisions of the judgments so long as the judgments remain valid and
				effective.
C. Participation in
				state legislator member coverage plan 2 is voluntary for legislators and
				lieutenant governors whose terms of office ended after December 31, 2002.
				Legislators and lieutenant governors may enroll in state legislator member
				coverage plan 2 by completing and filing a written application with PERA on or
				before the later of one hundred eighty (180) days from July 1, 2003 or one
				hundred eighty (180) days after first taking office, and paying member
				contributions for one or more years of service credit earned after December 31,
				2002. No survivor, estate, heir, personal representative or beneficiary of a
				deceased legislator or lieutenant governor may enroll in the plan.
New Mexico Administrative Code › Title 2 - PUBLIC FINANCE › Chapter 80 - PUBLIC EMPLOYEES RETIREMENT › Part 1200 - LEGISLATIVE RETIREMENT › Section 2.80.1200.10 - SERVICE CREDIT

Current through Register Vol. 35, No. 13, July 16, 2024
A. Service
				under state legislator member coverage plan 1 or state legislator member
				coverage plan 2 shall be credited by the calendar year.
B. One year of service credit may be earned
				for each calendar year during which the member fulfilled the obligations of the
				position of legislator or lieutenant governor for more than six months of the
				calendar year, including the legislative session. No service credit may be
				posted to a member's file until member contributions plus interest, if any,
				have been paid to PERA and the legislative council service has verified
				legislative service for the years claimed.
C. If a legislative member has service credit
				under PERA, other than as a legislative member, the legislative service credit
				and the regular PERA service credit may be combined for retirement purposes,
				provided that:
(1) the legislative member has
				at least five years of service credit under a coverage plan other than state
				legislator member coverage plan 1 or state legislator member coverage plan 2;
				and
(2) the legislative member
				meets the age requirement for normal retirement in the other coverage plan; in
				computing the benefits for the combined service, the pension shall be the sum
				of the benefits under state legislator member coverage plan 1 or state
				legislator member coverage plan 2 for the service as a legislator and the
				benefits for the remaining service under the applicable coverage
				plan.
New Mexico Administrative Code › Title 2 - PUBLIC FINANCE › Chapter 80 - PUBLIC EMPLOYEES RETIREMENT › Part 1200 - LEGISLATIVE RETIREMENT › Section 2.80.1200.11 - MEMBER CONTRIBUTIONS

Current through Register Vol. 35, No. 13, July 16, 2024
Member contributions for the current calendar year are due
				  within the calendar year, and no interest shall be charged by PERA on
				  contributions timely paid. Interest will be assessed on unremitted member
				  contributions for calendar years preceding the current calendar year at a rate
				  set by the board, and will accrue from the first day of the year after the
				  service year for which credit is claimed until the date of payment, except that
				  no interest shall accrue for the period from January 1, 1989 through December
				  31, 1996. The board shall set the rate of interest annually by resolution at a
				  July meeting, to be effective on the following January 1st for that calendar
				  year. The rate of interest for unremitted member contributions paid in 1996
				  shall be as follows:
A. For calendar
				years prior to January 1, 1984, interest shall be calculated at the rate of
				5.25% compounded annually from December 31 of the applicable year through
				December 31, 1983, and at the rate of 10% compounded annually thereafter up to
				the date of payment.
B. For
				calendar years after December 31, 1983, interest shall be calculated at the
				rate of 10% compounded annually from December 31 of the applicable year to the
				date of payment.
New Mexico Administrative Code › Title 2 - PUBLIC FINANCE › Chapter 80 - PUBLIC EMPLOYEES RETIREMENT › Part 1200 - LEGISLATIVE RETIREMENT › Section 2.80.1200.12 - BENEFITS SUSPENDED BECAUSE OF LITIGATION

Current through Register Vol. 35, No. 13, July 16, 2024
The administration of state legislator member coverage plan 1
				  was suspended from December 29, 1988 through November 2, 1993 and July 12, 1994
				  through the thirtieth day after the effective date of this rule. Retirees or
				  their beneficiaries who were receiving benefits or who had filed applications
				  for benefits prior to one or both of these periods of suspension may receive
				  benefits for the period(s). In order to pay such benefits, PERA must receive
				  updated information concerning the affected persons on PERA forms. In making
				  benefit payments for these periods, PERA is entitled to rely upon the
				  information furnished to PERA. PERA is not obligated to pay benefits for these
				  periods until the thirty-first day after the effective date of this rule, or
				  sixty days from PERA's receipt of the updated information, whichever comes
				  later. No interest will be paid by PERA on benefits accumulated for periods
				  during which administration of the plan was suspended; however, applicable cost
				  of living adjustments will be included.
New Mexico Administrative Code › Title 2 - PUBLIC FINANCE › Chapter 80 - PUBLIC EMPLOYEES RETIREMENT › Part 1200 - LEGISLATIVE RETIREMENT › Section 2.80.1200.13 - APPLICATIONS FOR BENEFITS

Current through Register Vol. 35, No. 13, July 16, 2024
Persons who are eligible for but are not yet receiving
				  benefits under the plan may apply for benefits pursuant to the procedures set
				  forth in the PERA Act and PERA rules. The effective date of the pension shall
				  be no earlier than the first day of the month following the month in which the
				  application for a benefit was filed. No interest shall be paid by PERA on
				  benefits which accrue from the effective date of the benefit to the date of the
				  first pension check.
New Mexico Administrative Code › Title 2 - PUBLIC FINANCE › Chapter 80 - PUBLIC EMPLOYEES RETIREMENT › Part 1400 - RECIPROCITY › Section 2.80.1400.1 - ISSUING AGENCY

Current through Register Vol. 35, No. 13, July 16, 2024
Public Employees Retirement Association, P. O. Box 2123,
				  Santa Fe, New Mexico 87504-2123
New Mexico Administrative Code › Title 2 - PUBLIC FINANCE › Chapter 80 - PUBLIC EMPLOYEES RETIREMENT › Part 1400 - RECIPROCITY › Section 2.80.1400.2 - SCOPE

Current through Register Vol. 35, No. 13, July 16, 2024
This rule affects the members, former members, normal
				  retirees (as distinguished from disability retirees), beneficiaries, public
				  employers, retirement board, and the association under the Public Employees
				  Retirement Act.
New Mexico Administrative Code › Title 2 - PUBLIC FINANCE › Chapter 80 - PUBLIC EMPLOYEES RETIREMENT › Part 1400 - RECIPROCITY › Section 2.80.1400.3 - STATUTORY AUTHORITY

Current through Register Vol. 35, No. 13, July 16, 2024
This rule is authorized by NMSA 1978, Sections
				  10-13A-2,
				  10-13A-3,
				  10-13A-4,
				  and
				  10-11-130
				  as amended.
New Mexico Administrative Code › Title 2 - PUBLIC FINANCE › Chapter 80 - PUBLIC EMPLOYEES RETIREMENT › Part 1400 - RECIPROCITY › Section 2.80.1400.6 - OBJECTIVE

Current through Register Vol. 35, No. 13, July 16, 2024
The objective of this rule is to establish standards and
				  procedures for reciprocity retirement, for eligible reciprocal service credit,
				  and for overlapping service credit.
New Mexico Administrative Code › Title 2 - PUBLIC FINANCE › Chapter 80 - PUBLIC EMPLOYEES RETIREMENT › Part 1400 - RECIPROCITY › Section 2.80.1400.10 - GENERAL PROVISIONS

Current through Register Vol. 35, No. 13, July 16, 2024
A.
				"Salary" is defined by each state system for that state system. Each system
				shall certify the member's salary as defined by that system to the payor
				system, and the payor system shall accept that salary for pension calculation
				purposes where applicable.
B. The
				Public Employees Retirement Reciprocity Act applies to normal retirement only,
				and does not apply to disability retirement or pre-retirement survivor
				pensions.
C. PERA retiree: If a
				retired member whose service credit at retirement was acquired only under PERA
				is:
(1) subsequently employed by an employer
				covered under another state system, and
(2) the retired member becomes a contributing
				member of that system, and
(3) the
				retired member's PERA pension is suspended for the period of membership under
				that system, and
(4) the retired
				member acquires service credit under that system, then the subsequently
				acquired service credit is eligible reciprocal service credit; when the member
				terminates the subsequent employment and retires again, the subsequent
				retirement shall be governed by the provisions of the Public Employees
				Retirement Reciprocity Act.
New Mexico Administrative Code › Title 2 - PUBLIC FINANCE › Chapter 80 - PUBLIC EMPLOYEES RETIREMENT › Part 1500 - APPEAL OF DENIAL OF CLAIM OF BENEFITS › Section 2.80.1500.1 - ISSUING AGENCY

Current through Register Vol. 35, No. 13, July 16, 2024
Public Employees Retirement Association, P. O. Box 2123,
				  Santa Fe, New Mexico 87504-2123
New Mexico Administrative Code › Title 2 - PUBLIC FINANCE › Chapter 80 - PUBLIC EMPLOYEES RETIREMENT › Part 1500 - APPEAL OF DENIAL OF CLAIM OF BENEFITS › Section 2.80.1500.2 - SCOPE

Current through Register Vol. 35, No. 13, July 16, 2024
This rule affects the members, former members, retirees,
				  beneficiaries, public employers, retirement board, and the association under
				  the Public Employees Retirement Act, Judicial Retirement Act, Magistrate
				  Retirement Act and Volunteer Firefighters Retirement Act.
New Mexico Administrative Code › Title 2 - PUBLIC FINANCE › Chapter 80 - PUBLIC EMPLOYEES RETIREMENT › Part 1500 - APPEAL OF DENIAL OF CLAIM OF BENEFITS › Section 2.80.1500.3 - STATUTORY AUTHORITY

Current through Register Vol. 35, No. 13, July 16, 2024
This rule is authorized by NMSA 1978, Section
				  10-11-120,
				  10-11-130,
				  10-12B-3,
				  10-12C-3,
				  and
				  10-11A-4,
				  as amended.
New Mexico Administrative Code › Title 2 - PUBLIC FINANCE › Chapter 80 - PUBLIC EMPLOYEES RETIREMENT › Part 1500 - APPEAL OF DENIAL OF CLAIM OF BENEFITS › Section 2.80.1500.5 - EFFECTIVE DATE

Current through Register Vol. 35, No. 13, July 16, 2024
July 1, 1993 unless a different date is cited at the end of a
				  section.
New Mexico Administrative Code › Title 2 - PUBLIC FINANCE › Chapter 80 - PUBLIC EMPLOYEES RETIREMENT › Part 1500 - APPEAL OF DENIAL OF CLAIM OF BENEFITS › Section 2.80.1500.6 - OBJECTIVE

Current through Register Vol. 35, No. 13, July 16, 2024
The objective of this rule is to establish procedures and
				  requirements for appealing denials of claims for benefits.
New Mexico Administrative Code › Title 2 - PUBLIC FINANCE › Chapter 80 - PUBLIC EMPLOYEES RETIREMENT › Part 1600 - DETERMINATION OF COMMUNITY INTEREST AND DIVISION OF RETIREMENT PENSIONS/CONTRIBUTIONS AT DIVORCE › Section 2.80.1600.1 - ISSUING AGENCY

Current through Register Vol. 35, No. 13, July 16, 2024
Public Employees Retirement Association, P. O. Box 2123,
				  Santa Fe, New Mexico 87504-2123
New Mexico Administrative Code › Title 2 - PUBLIC FINANCE › Chapter 80 - PUBLIC EMPLOYEES RETIREMENT › Part 1600 - DETERMINATION OF COMMUNITY INTEREST AND DIVISION OF RETIREMENT PENSIONS/CONTRIBUTIONS AT DIVORCE › Section 2.80.1600.2 - SCOPE

Current through Register Vol. 35, No. 13, July 16, 2024
This rule affects members, former members, retirees,
				  beneficiaries, and the association under the Public Employees Retirement Act.
				  This rule also affects the spouses and ex-spouses of members, former members
				  and retirees under the act.
New Mexico Administrative Code › Title 2 - PUBLIC FINANCE › Chapter 80 - PUBLIC EMPLOYEES RETIREMENT › Part 1600 - DETERMINATION OF COMMUNITY INTEREST AND DIVISION OF RETIREMENT PENSIONS/CONTRIBUTIONS AT DIVORCE › Section 2.80.1600.3 - STATUTORY AUTHORITY

Current through Register Vol. 35, No. 13, July 16, 2024
This rule is authorized by NMSA 1978, Sections
				  10-11-136,
				  10-11-130,
				  and
				  10-11-116,
				  as amended.
New Mexico Administrative Code › Title 2 - PUBLIC FINANCE › Chapter 80 - PUBLIC EMPLOYEES RETIREMENT › Part 1600 - DETERMINATION OF COMMUNITY INTEREST AND DIVISION OF RETIREMENT PENSIONS/CONTRIBUTIONS AT DIVORCE › Section 2.80.1600.5 - EFFECTIVE DATE

Current through Register Vol. 35, No. 13, July 16, 2024
December 15, 1995 unless a different date is cited at the end
				  of a section.
New Mexico Administrative Code › Title 2 - PUBLIC FINANCE › Chapter 80 - PUBLIC EMPLOYEES RETIREMENT › Part 1600 - DETERMINATION OF COMMUNITY INTEREST AND DIVISION OF RETIREMENT PENSIONS/CONTRIBUTIONS AT DIVORCE › Section 2.80.1600.6 - OBJECTIVE

Current through Register Vol. 35, No. 13, July 16, 2024
The objective of this rule is to establish procedures for
				  dividing the community interest in retirement pensions or
				  contributions.
New Mexico Administrative Code › Title 2 - PUBLIC FINANCE › Chapter 80 - PUBLIC EMPLOYEES RETIREMENT › Part 1600 - DETERMINATION OF COMMUNITY INTEREST AND DIVISION OF RETIREMENT PENSIONS/CONTRIBUTIONS AT DIVORCE › Section 2.80.1600.10 - DIVORCE DECREE OR ORDER

Current through Register Vol. 35, No. 13, July 16, 2024
A. The
				following information must be contained in a court order which divides the
				community interest in PERA retirement pensions or contributions:
(1) specific information identifying the
				parties, i.e., full names, addresses, social security numbers, retirement
				numbers if any;
(2) a declaration
				that there is a community interest in a member's pension or member
				contributions;
(3) the percentage
				or dollar amount of each party's interest in the gross pension as calculated at
				the time of retirement;
(4) the
				percentage or dollar amount of each party's interest in member
				contributions;
(5) a direct order
				to PERA restraining refund of member contributions except according to the
				provisions of the decree or order, if such a restraint is desired;
(6) liability for and payment of federal and
				state income taxes;
(7) a direct
				order to PERA to issue separate warrants to each party.
New Mexico Administrative Code › Title 2 - PUBLIC FINANCE › Chapter 80 - PUBLIC EMPLOYEES RETIREMENT › Part 1600 - DETERMINATION OF COMMUNITY INTEREST AND DIVISION OF RETIREMENT PENSIONS/CONTRIBUTIONS AT DIVORCE › Section 2.80.1600.20 - CHANGE OF NAME OR ADDRESS

Current through Register Vol. 35, No. 13, July 16, 2024
Member files must contain current names and addresses for
				  persons having a court-determined interest in member retirement accounts. Any
				  person with such an interest must provide PERA with a written statement of
				  change of name or address. If a warrant is returned as undeliverable because of
				  incorrect name or address, the money due the person will accumulate in the fund
				  until PERA is furnished with the correct information. No interest shall be paid
				  on any monies so accumulated.
New Mexico Administrative Code › Title 2 - PUBLIC FINANCE › Chapter 80 - PUBLIC EMPLOYEES RETIREMENT › Part 1600 - DETERMINATION OF COMMUNITY INTEREST AND DIVISION OF RETIREMENT PENSIONS/CONTRIBUTIONS AT DIVORCE › Section 2.80.1600.30 - FORM OF PAYMENT

Current through Register Vol. 35, No. 13, July 16, 2024
A. When a
				retired member who has chosen either form of payment B or C with the retired
				member's spouse as the named survivor beneficiary is divorced, the retired
				member may either:
1) make no change in the
				form of payment and beneficiary; or
2) change the form of payment to form of
				payment A, which does not provide for a survivor beneficiary, if an appropriate
				court order so provides.
New Mexico Administrative Code › Title 2 - PUBLIC FINANCE › Chapter 80 - PUBLIC EMPLOYEES RETIREMENT › Part 1600 - DETERMINATION OF COMMUNITY INTEREST AND DIVISION OF RETIREMENT PENSIONS/CONTRIBUTIONS AT DIVORCE › Section 2.80.1600.40 - TAXES

Current through Register Vol. 35, No. 13, July 16, 2024
A. Each party must
				submit a completed W-4 form to PERA when applying for a retirement
				pension.
B. The member must submit
				a completed PERA termination notice/request for refund when applying for a
				refund of contributions.
New Mexico Administrative Code › Title 2 - PUBLIC FINANCE › Chapter 80 - PUBLIC EMPLOYEES RETIREMENT › Part 1600 - DETERMINATION OF COMMUNITY INTEREST AND DIVISION OF RETIREMENT PENSIONS/CONTRIBUTIONS AT DIVORCE › Section 2.80.1600.50 - BENEFICIARY DESIGNATIONS

Current through Register Vol. 35, No. 13, July 16, 2024
An order requiring one or more beneficiary designations shall
				  be addressed to the member, and the member shall be responsible for executing
				  the proper PERA forms and providing the documentation necessary to effectuate
				  the designation(s). A member who violates such a court order may be in contempt
				  of court.
New Mexico Administrative Code › Title 2 - PUBLIC FINANCE › Chapter 80 - PUBLIC EMPLOYEES RETIREMENT › Part 1700 - MUNICIPAL ELECTION FOR CHANGE IN COVERAGE PLAN › Section 2.80.1700.1 - ISSUING AGENCY

Current through Register Vol. 35, No. 13, July 16, 2024
Public Employees Retirement Association, P. O. Box 2123,
				  Santa Fe, New Mexico 87504-2123
New Mexico Administrative Code › Title 2 - PUBLIC FINANCE › Chapter 80 - PUBLIC EMPLOYEES RETIREMENT › Part 1700 - MUNICIPAL ELECTION FOR CHANGE IN COVERAGE PLAN › Section 2.80.1700.2 - SCOPE

Current through Register Vol. 35, No. 13, July 16, 2024
This rule affects the affiliated public employers and their
				  employees, the retirement board and the association under the Public Employees
				  Retirement Act.
New Mexico Administrative Code › Title 2 - PUBLIC FINANCE › Chapter 80 - PUBLIC EMPLOYEES RETIREMENT › Part 1700 - MUNICIPAL ELECTION FOR CHANGE IN COVERAGE PLAN › Section 2.80.1700.3 - STATUTORY AUTHORITY

Current through Register Vol. 35, No. 13, July 16, 2024
This rule is authorized by NMSA 1978, Sections
				  10-11-130,
				  10-11-50,
				  10-11-55.1,
				  10-11-74,
				  10-11-80,
				  10-11-104,
				  10-11-110,
				  as amended.
New Mexico Administrative Code › Title 2 - PUBLIC FINANCE › Chapter 80 - PUBLIC EMPLOYEES RETIREMENT › Part 1700 - MUNICIPAL ELECTION FOR CHANGE IN COVERAGE PLAN › Section 2.80.1700.5 - EFFECTIVE DATE

Current through Register Vol. 35, No. 13, July 16, 2024
November 1, 1994 unless a different date is cited at the end
				  of a section.
New Mexico Administrative Code › Title 2 - PUBLIC FINANCE › Chapter 80 - PUBLIC EMPLOYEES RETIREMENT › Part 1700 - MUNICIPAL ELECTION FOR CHANGE IN COVERAGE PLAN › Section 2.80.1700.6 - OBJECTIVE

Current through Register Vol. 35, No. 13, July 16, 2024
The objective of this rule is to establish procedures for
				  affiliated public employers to conduct elections to adopt a new coverage plan
				  or to change coverage plans for their employees.
New Mexico Administrative Code › Title 2 - PUBLIC FINANCE › Chapter 80 - PUBLIC EMPLOYEES RETIREMENT › Part 1800 - EXECUTIVE DIRECTOR › Section 2.80.1800.1 - ISSUING AGENCY

Current through Register Vol. 35, No. 13, July 16, 2024
Public Employees Retirement Association, 33 Plaza La Prensa,
				  Santa Fe, New Mexico 87507.
New Mexico Administrative Code › Title 2 - PUBLIC FINANCE › Chapter 80 - PUBLIC EMPLOYEES RETIREMENT › Part 1800 - EXECUTIVE DIRECTOR › Section 2.80.1800.2 - SCOPE

Current through Register Vol. 35, No. 13, July 16, 2024
This rule applies to the retirement board and the executive
				  director under the Public Employees Retirement Act. This rule affects the
				  members, former members, retirees, beneficiaries, public employers and the
				  association under the Public Employees Retirement Act.
New Mexico Administrative Code › Title 2 - PUBLIC FINANCE › Chapter 80 - PUBLIC EMPLOYEES RETIREMENT › Part 1800 - EXECUTIVE DIRECTOR › Section 2.80.1800.3 - STATUTORY AUTHORITY

Current through Register Vol. 35, No. 13, July 16, 2024
This rule is authorized by NMSA 1978, Section
				  10-11-130,
				  10-11-131,
				  as amended.
New Mexico Administrative Code › Title 2 - PUBLIC FINANCE › Chapter 80 - PUBLIC EMPLOYEES RETIREMENT › Part 1800 - EXECUTIVE DIRECTOR › Section 2.80.1800.6 - OBJECTIVE

Current through Register Vol. 35, No. 13, July 16, 2024
The objective of this rule is to clarify the authority of the
				  executive director, and to provide for an annual evaluation of the executive
				  director by the retirement board.
New Mexico Administrative Code › Title 2 - PUBLIC FINANCE › Chapter 80 - PUBLIC EMPLOYEES RETIREMENT › Part 1800 - EXECUTIVE DIRECTOR › Section 2.80.1800.8 - GENERAL PROVISIONS

Current through Register Vol. 35, No. 13, July 16, 2024
A. The
				board, at a regular meeting, shall employ an executive director who shall serve
				at the pleasure of the board and at a salary set by the board. The executive
				director shall be the chief administrative officer of the board and of the
				association and serve as a fiduciary to the retirement fund. The executive
				director shall attest to official actions of the board when required
				.
B. The executive director is
				authorized to approve duly executed applications for affiliation by public
				employers, and applications for normal, disability and survivor pensions in
				order to insure timely processing of retirement pensions. In cases of
				disability retirement applications, approval by the disability review committee
				is necessary prior to approval by the executive director. All approvals by the
				executive director for pensions must be submitted for ratification by the board
				at its next regular meeting.
C. The
				executive director is authorized to perform any acts required of the board
				pursuant to a proper delegation of authority and rules and policies and
				procedures adopted by the board.
D.
				The board shall conduct an annual written evaluation of the executive director
				by the anniversary date of the appointment of the executive director.
E. The executive director shall adhere to the
				standards set forth in and be subject to the enforcement provisions of the New
				Mexico Governmental Conduct Act.
New Mexico Administrative Code › Title 2 - PUBLIC FINANCE › Chapter 80 - PUBLIC EMPLOYEES RETIREMENT › Part 1800 - EXECUTIVE DIRECTOR › Section 2.80.1800.9 - CONDUCT OF BUSINESS

Current through Register Vol. 35, No. 13, July 16, 2024
A. The
				business affairs of the board shall be conducted by the executive director
				within the authority outlined by the public employees retirement act and rules
				and policies and procedures adopted by the board.
B. On behalf of the board, the executive
				director is authorized to execute vouchers, delegate others to execute
				vouchers, buy and sell, or assign, or otherwise acquire or dispose of stocks,
				bonds, notes, or other securities held by the board, and execute such other
				documents as may be necessary to the administration of the public employees
				retirement act.
C. The executive
				director shall obtain the board's approval before requesting a formal opinion
				interpreting the law from the attorney general. The director may, however,
				obtain advice, either oral or written, from the attorney general as the need
				may arise.
D. The executive
				director is authorized to decide whether the association will seek lead
				plaintiff status in securities class action lawsuits in order to ensure a
				timely decision is made in accordance with applicable deadlines set out by the
				court. The executive director shall promptly apprise the board chair of such
				decisions. All such decisions shall be presented at the next board meeting and
				the board may ratify or reject the executive director's decision. If the board
				rejects the executive director's decision, the association shall seek to remove
				itself from lead plaintiff status.
E. The executive director may recommend and
				propose repeal, replacement, amendments, or new rules for action by the board.
				Any such recommendation shall be provided to each board member with the agenda
				for the meeting at which the recommendation will be considered, within a
				reasonable time, prior to being considered by the board.
New Mexico Administrative Code › Title 2 - PUBLIC FINANCE › Chapter 80 - PUBLIC EMPLOYEES RETIREMENT › Part 1800 - EXECUTIVE DIRECTOR › Section 2.80.1800.10 - ADMINISTRATIVE BUDGETS

Current through Register Vol. 35, No. 13, July 16, 2024
A. The executive
				director shall prepare budgets and requests for appropriations, which shall be
				considered and approved by the board prior to submission to the department of
				finance and administration or legislature.
B. The executive director shall annually
				prepare an organizational chart coincident with the adoption of the budget.
				This chart shall include a description of all positions required for the
				operation of the association, and the executive director shall be responsible
				for staffing these positions. This responsibility shall include the authority
				for the employment, promotion, demotion and dismissal of all
				employees.
New Mexico Administrative Code › Title 2 - PUBLIC FINANCE › Chapter 80 - PUBLIC EMPLOYEES RETIREMENT › Part 1800 - EXECUTIVE DIRECTOR › Section 2.80.1800.11 - ACTUARY

Current through Register Vol. 35, No. 13, July 16, 2024
The executive director shall contract with an actuarial firm
				  to be engaged for the purpose of performing routine actuarial services and
				  annual actuarial valuations to be provided for in a contract to be approved by
				  the board, subject to compliance with the procurement code rules and
				  procedures.
New Mexico Administrative Code › Title 2 - PUBLIC FINANCE › Chapter 80 - PUBLIC EMPLOYEES RETIREMENT › Part 1900 - PUBLIC EMPLOYERS › Section 2.80.1900.1 - ISSUING AGENCY

Current through Register Vol. 35, No. 13, July 16, 2024
Public Employees Retirement Association, P. O. Box 2123,
				  Santa Fe, New Mexico 87504-2123
New Mexico Administrative Code › Title 2 - PUBLIC FINANCE › Chapter 80 - PUBLIC EMPLOYEES RETIREMENT › Part 1900 - PUBLIC EMPLOYERS › Section 2.80.1900.2 - SCOPE

Current through Register Vol. 35, No. 13, July 16, 2024
This rule affects municipal employers, employees of
				  affiliated public employers, and the association under the Public Employees
				  Retirement Act.
New Mexico Administrative Code › Title 2 - PUBLIC FINANCE › Chapter 80 - PUBLIC EMPLOYEES RETIREMENT › Part 1900 - PUBLIC EMPLOYERS › Section 2.80.1900.3 - STATUTORY AUTHORITY

Current through Register Vol. 35, No. 13, July 16, 2024
This rule is authorized by NMSA 1978, Sections
				  10-11-122
				  and
				  10-11-130,
				  as amended.
New Mexico Administrative Code › Title 2 - PUBLIC FINANCE › Chapter 80 - PUBLIC EMPLOYEES RETIREMENT › Part 1900 - PUBLIC EMPLOYERS › Section 2.80.1900.6 - OBJECTIVE

Current through Register Vol. 35, No. 13, July 16, 2024
The objective of this rule is to set forth the information
				  that is required by the association from public employers seeking affiliation
				  with PERA.
New Mexico Administrative Code › Title 2 - PUBLIC FINANCE › Chapter 80 - PUBLIC EMPLOYEES RETIREMENT › Part 1900 - PUBLIC EMPLOYERS › Section 2.80.1900.8 - GENERAL PROVISIONS

Current through Register Vol. 35, No. 13, July 16, 2024
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
(2) if the public
				employer is a local public body subject to the jurisdiction of the local
				government division of the New Mexico department of finance and administration,
				written certification by the local government division that the public employer
				has the approved budget sufficient to pay the contributions required upon
				affiliation with PERA; and
(3) such
				written information as the association may request to establish that the
				employer seeking to affiliate qualifies as one of the entities specifically
				listed in the definition of "public employer" contained in NMSA 1978, Section
				10-11-2(P); and
(4) such
				information as is required by the association to make a good faith
				determination that the public employer meets the definition of a "governmental
				plan" as that term is used in Section 414(d) of the Internal Revenue Code of
				1986, as amended, including but not limited to the following:
(a) a fully completed affiliated public
				employer questionnaire, in a form prescribed by the association, containing
				information pertinent to determining the employer's qualified plan status;
				and
(b) any supplementary
				information requested by the association to clarify, supplement, explain, or
				correct the information contained in the completed questionnaire;
(5) in the event that the
				association determines that the information provided by the employer in the
				questionnaire, or in any supplementary submission, is in any way unclear or
				insufficient to permit the association to make a good faith determination that
				the employer meets the governmental plan definition, the association may
				request that the employer seek a ruling from the internal revenue service to
				confirm that the employer meets such definition.
New Mexico Administrative Code › Title 2 - PUBLIC FINANCE › Chapter 80 - PUBLIC EMPLOYEES RETIREMENT › Part 2000 - WITHHOLDING OF RETIREMENT PENSIONS/CONTRIBUTIONS PURSUANT TO A CHILD SUPPORT OBLIGATION ENFORCEMENT ORDER › Section 2.80.2000.1 - ISSUING AGENCY

Current through Register Vol. 35, No. 13, July 16, 2024
Public Employees Retirement Association, P. O. Box 2123,
				  Santa Fe, New Mexico 87504-2123
New Mexico Administrative Code › Title 2 - PUBLIC FINANCE › Chapter 80 - PUBLIC EMPLOYEES RETIREMENT › Part 2000 - WITHHOLDING OF RETIREMENT PENSIONS/CONTRIBUTIONS PURSUANT TO A CHILD SUPPORT OBLIGATION ENFORCEMENT ORDER › Section 2.80.2000.2 - SCOPE

Current through Register Vol. 35, No. 13, July 16, 2024
This rule affects the members, former members, retirees,
				  beneficiaries, and the association under the Public Employees Retirement
				  Act.
New Mexico Administrative Code › Title 2 - PUBLIC FINANCE › Chapter 80 - PUBLIC EMPLOYEES RETIREMENT › Part 2000 - WITHHOLDING OF RETIREMENT PENSIONS/CONTRIBUTIONS PURSUANT TO A CHILD SUPPORT OBLIGATION ENFORCEMENT ORDER › Section 2.80.2000.3 - STATUTORY AUTHORITY

Current through Register Vol. 35, No. 13, July 16, 2024
This rule is authorized by NMSA 1978, Sections
				  10-11-130,
				  and
				  10-11-136.1,
				  as amended.
New Mexico Administrative Code › Title 2 - PUBLIC FINANCE › Chapter 80 - PUBLIC EMPLOYEES RETIREMENT › Part 2000 - WITHHOLDING OF RETIREMENT PENSIONS/CONTRIBUTIONS PURSUANT TO A CHILD SUPPORT OBLIGATION ENFORCEMENT ORDER › Section 2.80.2000.5 - EFFECTIVE DATE

Current through Register Vol. 35, No. 13, July 16, 2024
December 15, 1995 unless a different date is cited at the end
				  of a section.
New Mexico Administrative Code › Title 2 - PUBLIC FINANCE › Chapter 80 - PUBLIC EMPLOYEES RETIREMENT › Part 2000 - WITHHOLDING OF RETIREMENT PENSIONS/CONTRIBUTIONS PURSUANT TO A CHILD SUPPORT OBLIGATION ENFORCEMENT ORDER › Section 2.80.2000.6 - OBJECTIVE

Current through Register Vol. 35, No. 13, July 16, 2024
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.
New Mexico Administrative Code › Title 2 - PUBLIC FINANCE › Chapter 80 - PUBLIC EMPLOYEES RETIREMENT › Part 2000 - WITHHOLDING OF RETIREMENT PENSIONS/CONTRIBUTIONS PURSUANT TO A CHILD SUPPORT OBLIGATION ENFORCEMENT ORDER › Section 2.80.2000.10 - CHILD SUPPORT OBLIGATION ENFORCEMENT ORDER

Current through Register Vol. 35, No. 13, July 16, 2024
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 number,
				retirement number, if any;
(2)
				specific information identifying the third party payee, i.e., full name,
				address, Social Security number, if any, or account code for child support
				enforcement bureau;
(3) dollar
				amount to be withheld from the pension payment or refund of member
				contributions;
(4) the period of
				time pension payments or refunds of member contributions will be affected by
				the order;
(5) a direct order to
				PERA to issue separate warrants to each party.
New Mexico Administrative Code › Title 2 - PUBLIC FINANCE › Chapter 80 - PUBLIC EMPLOYEES RETIREMENT › Part 2000 - WITHHOLDING OF RETIREMENT PENSIONS/CONTRIBUTIONS PURSUANT TO A CHILD SUPPORT OBLIGATION ENFORCEMENT ORDER › Section 2.80.2000.20 - CHANGE OF NAME OR ADDRESS

Current through Register Vol. 35, No. 13, July 16, 2024
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 undeliverable because of
				  incorrect name or address, the money due the person will accumulate in the fund
				  until PERA is furnished with the correct information. No interest shall be paid
				  on any monies so accumulated.
New Mexico Administrative Code › Title 2 - PUBLIC FINANCE › Chapter 80 - PUBLIC EMPLOYEES RETIREMENT › Part 2100 - MEMBER CONTRIBUTIONS › Section 2.80.2100.1 - ISSUING AGENCY

Current through Register Vol. 35, No. 13, July 16, 2024
Public Employees Retirement Association (PERA), 33 Plaza La
				  Prensa, Santa Fe, New Mexico 87507
New Mexico Administrative Code › Title 2 - PUBLIC FINANCE › Chapter 80 - PUBLIC EMPLOYEES RETIREMENT › Part 2100 - MEMBER CONTRIBUTIONS › Section 2.80.2100.2 - SCOPE

Current through Register Vol. 35, No. 13, July 16, 2024
This rule affects the members, public employers, retirement
				  board and the association under the Public Employees Retirement
				  Act.
New Mexico Administrative Code › Title 2 - PUBLIC FINANCE › Chapter 80 - PUBLIC EMPLOYEES RETIREMENT › Part 2100 - MEMBER CONTRIBUTIONS › Section 2.80.2100.3 - STATUTORY AUTHORITY

Current through Register Vol. 35, No. 13, July 16, 2024
This rule is authorized by Sections
				  10-11-124,
				  10-11-129
				  and
				  10-11-130
				  NMSA 1978, as amended.
New Mexico Administrative Code › Title 2 - PUBLIC FINANCE › Chapter 80 - PUBLIC EMPLOYEES RETIREMENT › Part 2100 - MEMBER CONTRIBUTIONS › Section 2.80.2100.6 - OBJECTIVE

Current through Register Vol. 35, No. 13, July 16, 2024
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.
New Mexico Administrative Code › Title 2 - PUBLIC FINANCE › Chapter 80 - PUBLIC EMPLOYEES RETIREMENT › Part 2100 - MEMBER CONTRIBUTIONS › Section 2.80.2100.7 - DEFINITIONS

Current through Register Vol. 35, No. 13, July 16, 2024
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 annuity described
				in Internal Revenue Code Section 408(b);
(3)a qualified trust described in Internal
				Revenue Code Section 401(a) that accepts the distributee's eligible rollover
				distribution;
(4)an annuity plan
				described in Internal Revenue Code Section 403(a);
(5)effective January 1, 2002, an annuity
				contract described in Internal Revenue Code Section 403(b);
(6)effective January 1, 2002, a plan eligible
				under Internal Revenue Code Section 457(b) that is maintained by a state,
				political subdivision of a state or any agency or instrumentality of a state or
				political subdivision of a state that agrees to separately account for amounts
				transferred into the plan; or
(7)effective January 1, 2008, a Roth IRA
				described in Internal Revenue Code Section 408A.
New Mexico Administrative Code › Title 2 - PUBLIC FINANCE › Chapter 80 - PUBLIC EMPLOYEES RETIREMENT › Part 2100 - MEMBER CONTRIBUTIONS › Section 2.80.2100.9 - UNCLAIMED CONTRIBUTIONS

Current through Register Vol. 35, No. 13, July 16, 2024
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 of five hundred dollars ($500) or less remains on the member's
				account;
(3) PERA has sent a letter
				to the member's last known address on file with the association notifying the
				member that the funds are available for disbursement and received no response
				within 60 days of the mailing.
New Mexico Administrative Code › Title 2 - PUBLIC FINANCE › Chapter 80 - PUBLIC EMPLOYEES RETIREMENT › Part 2200 - MUNICIPAL FIRE MEMBER COVERAGE PLANS › Section 2.80.2200.1 - ISSUING AGENCY

Current through Register Vol. 35, No. 13, July 16, 2024
Public Employees Retirement Association, P. O. Box 2123,
				  Santa Fe, New Mexico 87504-2123
New Mexico Administrative Code › Title 2 - PUBLIC FINANCE › Chapter 80 - PUBLIC EMPLOYEES RETIREMENT › Part 2200 - MUNICIPAL FIRE MEMBER COVERAGE PLANS › Section 2.80.2200.2 - SCOPE

Current through Register Vol. 35, No. 13, July 16, 2024
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.
New Mexico Administrative Code › Title 2 - PUBLIC FINANCE › Chapter 80 - PUBLIC EMPLOYEES RETIREMENT › Part 2200 - MUNICIPAL FIRE MEMBER COVERAGE PLANS › Section 2.80.2200.3 - STATUTORY AUTHORITY

Current through Register Vol. 35, No. 13, July 16, 2024
This rule is authorized by Section 2, Chapter 8 of the New
				  Mexico Laws of 1996 and Section
				  10-11-130,
				  NMSA 1978.
New Mexico Administrative Code › Title 2 - PUBLIC FINANCE › Chapter 80 - PUBLIC EMPLOYEES RETIREMENT › Part 2200 - MUNICIPAL FIRE MEMBER COVERAGE PLANS › Section 2.80.2200.5 - EFFECTIVE DATE

Current through Register Vol. 35, No. 13, July 16, 2024
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 30,
				  1996. The effective date of the permanent rule relates back to the effective
				  date of the emergency rule.
New Mexico Administrative Code › Title 2 - PUBLIC FINANCE › Chapter 80 - PUBLIC EMPLOYEES RETIREMENT › Part 2200 - MUNICIPAL FIRE MEMBER COVERAGE PLANS › Section 2.80.2200.6 - OBJECTIVE

Current through Register Vol. 35, No. 13, July 16, 2024
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 following: "The
				  amount of the appropriation shall be matched by employers or employees, or
				  both, of participants in the municipal fire member plans by a contribution of
				  an amount equal to one percent of the municipal fire member plan's monthly
				  payroll for fiscal year 1997." House Appropriations and Finance Committee
				  Substitute for House Bills 667 and 693, Section 2. The objective of this rule
				  is to establish administrative procedures to implement this "match" in time for
				  fiscal year 1997. Because of the limited period of time between the end of the
				  1996 legislative session and the effective date of the legislation, this rule
				  was originally adopted as an emergency rule to give municipalities adequate
				  time to take official action with respect to the allocation of the match
				  between the employers and employees. Immediate adoption of this rule was also
				  necessary for the preservation of the soundness of the fund and the general
				  welfare of the association.
New Mexico Administrative Code › Title 2 - PUBLIC FINANCE › Chapter 80 - PUBLIC EMPLOYEES RETIREMENT › Part 2200 - MUNICIPAL FIRE MEMBER COVERAGE PLANS › Section 2.80.2200.7 - DEFINITIONS

Current through Register Vol. 35, No. 13, July 16, 2024
Definitions of terms used in this rule are found in
				  2.80.100.7 NMAC
				  Definitions, and Section
				  10-11-2,
				  NMSA 1978.
New Mexico Administrative Code › Title 2 - PUBLIC FINANCE › Chapter 80 - PUBLIC EMPLOYEES RETIREMENT › Part 2200 - MUNICIPAL FIRE MEMBER COVERAGE PLANS › Section 2.80.2200.8 - REPORTING REQUIREMENT

Current through Register Vol. 35, No. 13, July 16, 2024
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 mandatory
				  contribution equal to 1% of the municipal fire member plan monthly payroll for
				  fiscal year 1997 will be contributed by the employer, if any, and what
				  percentage by the employee, if any. If no such resolution or ordinance is filed
				  with PERA by July 1, 1996, the entire 1% contribution shall be allocated to the
				  employer and deposited into the employers accumulation fund.
New Mexico Administrative Code › Title 2 - PUBLIC FINANCE › Chapter 80 - PUBLIC EMPLOYEES RETIREMENT › Part 2300 - LEAVE WITHOUT PAY › Section 2.80.2300.1 - ISSUING AGENCY

Current through Register Vol. 35, No. 13, July 16, 2024
Public Employees Retirement Association, P. O. Box 2123,
				  Santa Fe, New Mexico 87504-2123
New Mexico Administrative Code › Title 2 - PUBLIC FINANCE › Chapter 80 - PUBLIC EMPLOYEES RETIREMENT › Part 2300 - LEAVE WITHOUT PAY › Section 2.80.2300.2 - SCOPE

Current through Register Vol. 35, No. 13, July 16, 2024
This rule affects the members, former members, beneficiaries,
				  public employers, retirement board and the association under the Public
				  Employees Retirement Act.
New Mexico Administrative Code › Title 2 - PUBLIC FINANCE › Chapter 80 - PUBLIC EMPLOYEES RETIREMENT › Part 2300 - LEAVE WITHOUT PAY › Section 2.80.2300.3 - STATUTORY AUTHORITY

Current through Register Vol. 35, No. 13, July 16, 2024
This rule is authorized by NMSA 1978, Sections
				  10-11-130
				  and
				  10-11-8,
				  as amended.
New Mexico Administrative Code › Title 2 - PUBLIC FINANCE › Chapter 80 - PUBLIC EMPLOYEES RETIREMENT › Part 2300 - LEAVE WITHOUT PAY › Section 2.80.2300.10 - BREAK IN SERVICE

Current through Register Vol. 35, No. 13, July 16, 2024
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, Section 10-11-8(G), as amended.
B. A member who leaves the employ of an
				affiliated public employer to enter a uniformed service of the United States
				and is reemployed under the Uniformed Services Employment and Reemployment
				Rights Act of 1994, as amended, shall be treated as not having incurred a break
				in service.
New Mexico Administrative Code › Title 2 - PUBLIC FINANCE › Chapter 81 - RETIREE HEALTH CARE FUNDS › Part 1 - GENERAL PROVISIONS › Section 2.81.1.2 - SCOPE

Current through Register Vol. 35, No. 13, July 16, 2024
Applies to the board of the retiree health care authority and
				  to all employers, employees and eligible retirees, spouses and dependents
				  participating in the coverages under the Act.
New Mexico Administrative Code › Title 2 - PUBLIC FINANCE › Chapter 81 - RETIREE HEALTH CARE FUNDS › Part 1 - GENERAL PROVISIONS › Section 2.81.1.3 - STATUTORY AUTHORITY

Current through Register Vol. 35, No. 13, July 16, 2024
This Rule is promulgated pursuant to the Retiree Health Care
				  Act, the New Mexico Retiree Health Care Act (the "Act"), Sections
				  10-7C-1 et
				  seq. NMSA 1978.
New Mexico Administrative Code › Title 2 - PUBLIC FINANCE › Chapter 81 - RETIREE HEALTH CARE FUNDS › Part 1 - GENERAL PROVISIONS › Section 2.81.1.6 - OBJECTIVE

Current through Register Vol. 35, No. 13, July 16, 2024
The objective of this Rule is to establish procedures
				  governing the board of the retiree health care authority ("the
				  board").
New Mexico Administrative Code › Title 2 - PUBLIC FINANCE › Chapter 81 - RETIREE HEALTH CARE FUNDS › Part 1 - GENERAL PROVISIONS › Section 2.81.1.8 - MEMBERSHIP OF THE BOARD

Current through Register Vol. 35, No. 13, July 16, 2024
The board shall be composed of those persons or their
				  designees as set out in Section 6 the Act.
New Mexico Administrative Code › Title 2 - PUBLIC FINANCE › Chapter 81 - RETIREE HEALTH CARE FUNDS › Part 1 - GENERAL PROVISIONS › Section 2.81.1.9 - BOARD OFFICERS/TERMS OF OFFICE

Current through Register Vol. 35, No. 13, July 16, 2024
Officers of the board shall consist of a president, vice
				  president and a secretary who shall be elected from the board membership. The
				  president shall preside over all board meetings and in his/her absence the
				  vice-president shall preside and in the absence of both the president and the
				  vice-president then the secretary shall preside. The terms of officers shall be
				  for one year and they shall be elected at the annual meeting of the board. An
				  officer may be reelected to the same position or elected to fill another
				  position as an officer of the board. Any officer of the board shall serve in
				  the capacity to which the officer was elected until written notification of the
				  replacement is filed with the board pursuant to Section 10 [now
				  2.81.1.10
				  NMAC] of this Rule or until the member resigns their position as an officer of
				  the board, or until authorized written notification of a change of a board
				  member is filed with the NMRHCA by the proper person or entity.