New Mexico Administrative Code › Title 2 - PUBLIC FINANCE › Chapter 80 - PUBLIC EMPLOYEES RETIREMENT › Part 2100 - MEMBER CONTRIBUTIONS › Section 2.80.2100.8 - GENERAL PROVISIONS

Current through Register Vol. 35, No. 13, July 16, 2024
A. No
				partial refund of a member's contributions is permitted.
B. A member shall not receive a refund of
				contributions if the member terminates employment with one affiliated public
				employer and is thereafter employed by the same or another affiliated public
				employer within thirty (30) days of termination. The application for a refund
				of member contributions, if desired, must be fled prior to any subsequent
				employment. If the application for refund is not fled within this period of
				time, no refund shall be permitted until termination of all affiliated public
				employment.
C. Requests for refunds
				of member contributions shall be made on forms provided by the association.
(1)The member or the member's legal
				representative, or the member's designated refund beneficiary or the
				beneficiary's legal representative, if the member is deceased, must complete
				and sign the request for refund.
(2)If the member is deceased, the applicant
				for refund must provide PERA with a copy of the member's death certificate. If
				the deceased member has no living beneficiary, then the personal representative
				of the estate must provide PERA with a copy of the letters of administration or
				order of appointment of personal representative, signed and fled in court; or
				must comply with NMSA 1978, Section
				45-3-1201.
(3)If the member has been divorced, the
				member shall provide PERA with complete endorsed copies of all court documents
				necessary to ascertain the current marital status of the member and whether any
				ex-spouse of the member is entitled to any portion of the member's
				contributions. Such documents shall include the final decrees and marital
				property settlements for all marriages during the member's employment with an
				affiliated public employer. If the member's only divorce was prior to becoming
				a PERA member, then the final divorce decree is required, but no marital
				property settlement is required. If the member was divorced more than once
				before becoming a PERA member, then only the most recent final decree is
				required. The requirement for providing a copy of a final decree may be waived,
				in PERA's discretion, when PERA can establish through online court records that
				a divorce decree was entered on a specific date and no further documentation is
				deemed necessary to administer benefits. If the member's former spouse is
				entitled to a portion of a refund of member contributions pursuant to a court
				order entered under NMSA 1978, Section
				10-11-136,
				the member's former spouse may request, on a form prescribed by the
				association, that his or her share of a refund of member contributions be
				transferred directly to another qualified plan as allowed by the Internal
				Revenue Code, as specified under Subsection L of 2.80.2100.8 NMAC.
(4)The member's last affiliated public
				employer must certify to the termination of employment of the member before a
				refund may be made.
(5)No refund
				shall be permitted unless a membership application is on file with PERA. The
				requirement for a membership application may be waived, in PERA's discretion,
				when PERA can establish membership for the applicable time period through other
				documentation.
(6)After tax employee
				contributions that are not includible in gross income may be directly refunded
				to the member.