reglab/statecodes huggingface dataset:
New Mexico Administrative Code › Title 2 - PUBLIC FINANCE › Chapter 70 - CAPITAL EXPENDITURES › Part 4 - POLICY ON CAPITAL EXPENDITURES BY STATE EDUCATIONAL INSTITUTIONS › Section 2.70.4.8 - PROJECTS REQUIRING REVIEW

Current through Register Vol. 35, No. 13, July 16, 2024
A. All
				projects that fall under the following categories must be submitted for review
				by the state board of finance:
(1) any
				purchase of real property;
(2) any
				construction of a new building;
(3)
				any project involving a bond issue which requires state board of finance
				approval;
(4) any other major
				project, including construction of facilities such as parking lots or radio
				towers; site improvements or landscaping; and remodeling or non-emergency
				repair of an existing building, but not demolition unless part of a larger
				project that requires approval.
New Mexico Administrative Code › Title 2 - PUBLIC FINANCE › Chapter 70 - CAPITAL EXPENDITURES › Part 4 - POLICY ON CAPITAL EXPENDITURES BY STATE EDUCATIONAL INSTITUTIONS › Section 2.70.4.9 - INFORMATION REQUIRED FOR SUBMISSION FOR PURCHASE OF REAL PROPERTY

Current through Register Vol. 35, No. 13, July 16, 2024
A. To ensure that
				the state board of finance will have sufficient information to review capital
				outlay expenditures at New Mexico's educational institutions, the following
				information will be required to be submitted to the board after the higher
				education department has approved the request:
(1) legal description of the
				property;
(2) a copy of the
				appraisal and concurrence therewith, if performed by an independent appraiser,
				by the property tax division of the taxation and revenue department;
(3) a site improvement survey to verify the
				legal description and to uncover the existence of recorded and unrecorded
				easements and encroachments;
(4) a
				description of the use to which the property will be placed;
(5) the source of funds for the purchase to
				include citation of the relevant section of the law when source of funds is
				legislative appropriation and in the case of bond funding, representation that
				bond proceeds are available;
(6)
				current title binder evidencing clear title with no non-standard exceptions,
				and agreement by the title company that it will delete general exceptions 1
				through 6 and the first two-thirds of 7;
(7) merchantable fee simple title by warranty
				deed, except if the seller is a public entity;
(8) phase I of an environmental assessment to
				verify prior use of the land with regard to possible environmental
				hazards;
(9) a copy of the purchase
				agreement, which should contain a provision making the acquisition subject to
				the approval of higher education department and the state board of finance;
				and
(10) evidence of approval of
				acquisition by applicable board of regents and higher education
				department.
New Mexico Administrative Code › Title 2 - PUBLIC FINANCE › Chapter 70 - CAPITAL EXPENDITURES › Part 4 - POLICY ON CAPITAL EXPENDITURES BY STATE EDUCATIONAL INSTITUTIONS › Section 2.70.4.10 - INFORMATION REQUIRED FOR SUBMISSION FOR CONSTRUCTION OF BUILDINGS OR OTHER FACILITIES; MAJOR REMODELING OR REPAIRS

Current through Register Vol. 35, No. 13, July 16, 2024
A. To ensure that the state board of finance
				will have sufficient information to review capital outlay expenditures at New
				Mexico's educational institutions, the following information will be required
				to be submitted to the board after the higher education department has approved
				the request:
(1) a description of the
				facility to be constructed or repaired, including the types of space to be
				included, the function of the facility, and the relationship of the project to
				the institution's five-year master plan;
(2) the total square footage of the facility,
				both net assignable square feet and gross square feet;
(3) the cost per square foot for the
				construction or repair of the facility and the cost per square foot for the
				total project;
(4) a budget for the
				project, including architects and engineering fees and contingencies;
(5) source of funds to include citation of
				the relevant section of the law when source of funds is legislative
				appropriation and in the case of bond funding, representation that bond
				proceeds are available;
(6)
				certificate of adequate parking as required in Section
				21-1-21.1,
				NMSA 1978, as amended;
(7) evidence
				of approval of expenditure by applicable board of regents and higher education
				department;
(8) evidence of
				approval by higher education department of the following criteria as it may be
				amended by higher education department from time to time:
(a) if the facility is less than or equal to
				5,000 square feet, evidence of energy efficient measures;
(b) if the facility is greater than 5,000
				square feet and less than or equal to 15,000 square feet, evidence of fifty
				percent reduction in energy use compared to existing facilities of similar type
				as defined by the United States department of energy; or
(c) if the facility is greater than 15,000
				square feet, evidence of fifty percent reduction in energy use compared to
				existing facilities of similar type as defined by the United States department
				of energy and the achievement of a LEED silver rating or better.
New Mexico Administrative Code › Title 2 - PUBLIC FINANCE › Chapter 70 - CAPITAL EXPENDITURES › Part 4 - POLICY ON CAPITAL EXPENDITURES BY STATE EDUCATIONAL INSTITUTIONS › Section 2.70.4.11 - REVISED PROJECTS

Current through Register Vol. 35, No. 13, July 16, 2024
To ensure that the project actually constructed will be
				  substantially the same as that approved by the higher education department and
				  the state board of finance, any change in the project resulting in a change in
				  the budget of more than ten percent will require separate review and approval
				  by the state board of finance. The same information will be required for such
				  changes as is required for the original submission of the project. Any
				  additional information which can help in evaluating a proposed project can be
				  requested by the state board of finance prior to approval.
New Mexico Administrative Code › Title 2 - PUBLIC FINANCE › Chapter 70 - CAPITAL EXPENDITURES › Part 5 - POLICY FOR USE OF CAPITOL BUILDINGS REPAIR FUND › Section 2.70.5.2 - SCOPE

Current through Register Vol. 35, No. 13, July 16, 2024
Property control division of the general services department
				  and all other agencies that own or use capitol buildings.
New Mexico Administrative Code › Title 2 - PUBLIC FINANCE › Chapter 70 - CAPITAL EXPENDITURES › Part 5 - POLICY FOR USE OF CAPITOL BUILDINGS REPAIR FUND › Section 2.70.5.3 - STATUTORY AUTHORITY

Current through Register Vol. 35, No. 13, July 16, 2024
Section
				  15-3B-17,
				  NMSA 1978, as amended, which establishes the capitol buildings repair fund and
				  limitations on the use of money in the fund. Executive Order 2006-001, which
				  establishes energy efficiency green building standards for state of New Mexico
				  executive buildings.
New Mexico Administrative Code › Title 2 - PUBLIC FINANCE › Chapter 70 - CAPITAL EXPENDITURES › Part 5 - POLICY FOR USE OF CAPITOL BUILDINGS REPAIR FUND › Section 2.70.5.6 - OBJECTIVE

Current through Register Vol. 35, No. 13, July 16, 2024
To establish guidelines to be used by the property control
				  division, general services department, in reviewing and recommending
				  expenditures from the capitol buildings repair fund for qualifying state-owned
				  buildings; and seeking authorization from the state board of
				  finance.
New Mexico Administrative Code › Title 2 - PUBLIC FINANCE › Chapter 70 - CAPITAL EXPENDITURES › Part 5 - POLICY FOR USE OF CAPITOL BUILDINGS REPAIR FUND › Section 2.70.5.7 - DEFINITIONS (AS USED IN THIS POLICY)

Current through Register Vol. 35, No. 13, July 16, 2024
A. "Capitol building" is any building,
				located in Santa Fe, New Mexico, owned by the executive, legislative or
				judicial branch of state government that is not an income beneficiary from a
				specific grant of land from the United States congress in the state's enabling
				act.
B. "Capitol buildings repair
				fund" is a fund that may be used to repair, remodel and equip capitol buildings
				and adjacent lands, to repair or replace building machinery and building
				equipment located in capitol buildings. Fund monies cannot be utilized for
				acquisition of furniture.
New Mexico Administrative Code › Title 2 - PUBLIC FINANCE › Chapter 70 - CAPITAL EXPENDITURES › Part 5 - POLICY FOR USE OF CAPITOL BUILDINGS REPAIR FUND › Section 2.70.5.8 - POLICY

Current through Register Vol. 35, No. 13, July 16, 2024
A. The capitol
				buildings repair fund will only be utilized when the property control division
				director, upon approval of the state board of finance, determines:
(1) that an immediate need or emergency
				exists or that the expenditure is consistent with an approved schedule of
				repairs; and
(2) that no other
				sources of funding are readily available; it is not the intent of this policy
				to fund new capital outlay projects or agency personnel costs.
New Mexico Administrative Code › Title 2 - PUBLIC FINANCE › Chapter 70 - CAPITAL EXPENDITURES › Part 5 - POLICY FOR USE OF CAPITOL BUILDINGS REPAIR FUND › Section 2.70.5.9 - REPORTS

Current through Register Vol. 35, No. 13, July 16, 2024
A. Property control
				division will report semi-annually to the state board of finance regarding:
(1) updated inventory of buildings including
				an approved check list of conditions;
(2) status report of approved
				projects;
(3) proposed schedules of
				repairs;
(4) evidence that projects
				in the proposed schedule of repairs complies with Executive Order 2006-001 as
				it may be amended from time to time, with respect to the following criteria:
(a) if the facility is greater than 15,000
				square feet or uses over 50 kilowatt peak electrical demand and the project
				comprises upgrades or replacement of two of the three major systems (HVAC,
				lighting, and plumbing), evidence of a minimum rating of "LEED" silver and a
				minimum delivered energy performance standard of one half the U.S. energy
				consumption for that building type as defined by the United States department
				of energy; and
(b) if the facility
				is greater than 5,000 square feet and less than or equal to 15,000 square feet,
				evidence of achieving a minimum delivered energy performance standard of one
				half the U.S. energy consumption for that building type as defined by the
				United States department of energy; or
(c) for all other projects, evidence of the
				use of cost-effective, energy-efficient, green building practices to the
				maximum extent possible; and
(5) financial projections for the capitol
				buildings repair fund.
New Mexico Administrative Code › Title 2 - PUBLIC FINANCE › Chapter 70 - CAPITAL EXPENDITURES › Part 5 - POLICY FOR USE OF CAPITOL BUILDINGS REPAIR FUND › Section 2.70.5.10 - PROCEDURES AND REVISED PROJECTS

Current through Register Vol. 35, No. 13, July 16, 2024
A.
				All requests for capitol buildings repair funds shall be made to the director,
				property control division, general services department, 1100 St. Francis Drive,
				Santa Fe, New Mexico 87501, telephone (505) 827-2141.
B. The state board of finance director shall
				review and recommend action to the state board of finance. No money shall be
				expended from the capitol buildings repair fund without authorization of the
				state board of finance.
C. To
				ensure that projects requested from the capitol buildings repair fund approved
				by the state board of finance will be completed in substantially the same form
				as approved, any change in a project resulting in a change in the project's
				budget of more than 10 percent will require separate review and approval by the
				state board of finance. The same information will be required for such changes
				as is required for the original submission of the project.
D. Any additional information that can help
				in evaluating a proposed project can be requested by the state board of finance
				prior to final approval.
New Mexico Administrative Code › Title 2 - PUBLIC FINANCE › Chapter 70 - CAPITAL EXPENDITURES › Part 5 - POLICY FOR USE OF CAPITOL BUILDINGS REPAIR FUND › Section 2.70.5.11 - OTHER USES FOR CAPITOL BUILDINGS REPAIR FUND

Current through Register Vol. 35, No. 13, July 16, 2024
A. The capitol buildings repair fund may also
				be used:
(1) to contract for options to
				purchase real estate, such real estate, if purchased, to be put to state use;
				provided that no more than ten thousand dollars ($10,000) shall be expended for
				any single option; any money used for consideration in acquiring an option to
				purchase real estate shall be applied against the purchase price of the real
				estate if the option is exercised;
(2) in the event any capital outlay project
				exceeds authorized project cost by no more than five percent, the state board
				of finance may authorize the property control division to supplement the
				authorized cost by an allocation not to exceed five percent of the authorized
				cost from the capitol buildings repair fund to the extent of the unencumbered
				and unexpended balance of the fund.
New Mexico Administrative Code › Title 2 - PUBLIC FINANCE › Chapter 79 - INDIVIDUAL DEVELOPMENT ACCOUNTS › Part 1 - GENERAL PROVISIONS › Section 2.79.1.2 - SCOPE

Current through Register Vol. 35, No. 13, July 16, 2024
All individual development account program administrators
				  funded pursuant to the Act, state agencies and other stakeholders affected by
				  the rule. The scope of these rules includes, but is not limited to:
A. policies concerning the eligible uses for
				and establishment of individual development accounts;
B. selection criteria and requirements for
				participating individual development account program administrators;
				and
C. eligibility criteria for
				individual account owners.
New Mexico Administrative Code › Title 2 - PUBLIC FINANCE › Chapter 79 - INDIVIDUAL DEVELOPMENT ACCOUNTS › Part 1 - GENERAL PROVISIONS › Section 2.79.1.3 - STATUTORY AUTHORITY

Current through Register Vol. 35, No. 13, July 16, 2024
The Individual Development Account Act, Section
				  58-30-5,
				  NMSA 1978 and Section
				  9-6-5
				  Subsection E, NMSA 1978.
New Mexico Administrative Code › Title 2 - PUBLIC FINANCE › Chapter 79 - INDIVIDUAL DEVELOPMENT ACCOUNTS › Part 1 - GENERAL PROVISIONS › Section 2.79.1.6 - OBJECTIVE

Current through Register Vol. 35, No. 13, July 16, 2024
The Individual Development Account Act (Sections
				  58-30-1
				  through
				  58-30-12
				  NMSA 1978; being Laws 2003, Chapter 362) established a structure to provide
				  oversight to individual development account programs in New Mexico funded
				  through the act. These rules are designed to:
A. identify and promote quality individual
				development account initiatives throughout the state while encouraging
				innovation and diversity;
B. ensure
				accountability of account owners, account programs, program administrators as
				well as other stakeholders; and
C.
				provide standards of eligibility and program administration for individual
				development account programs in New Mexico.
New Mexico Administrative Code › Title 2 - PUBLIC FINANCE › Chapter 79 - INDIVIDUAL DEVELOPMENT ACCOUNTS › Part 1 - GENERAL PROVISIONS › Section 2.79.1.7 - DEFINITIONS

Current through Register Vol. 35, No. 13, July 16, 2024
A.
"Account
				owner"
means the person in whose name an individual development account
				is originally established.
B.
"Act"
means the Individual Development Account Act, Sections
				58-30-1
				through
				58-30-12
				NMSA 1978.
C.
"Allowable
				use"
means monies expended from an individual development account for
				the account owner or the account owner's spouse or dependents for a use listed
				below:
(1) expenses to attend an approved
				post-secondary or vocational educational institution, including, but not
				limited to, payment for tuition, books, supplies and equipment required for
				courses;
(2) costs to acquire or
				construct a principal residence that is the first principal residence acquired
				or constructed by the account owner;
(3) costs of major home improvements or
				repairs on the principal residence of the account owner;
(4) capitalization or costs to start or
				expand a business including equipment, tangible personal property, operational
				and inventory expenses, legal and accounting fees and other costs normally
				associated with starting or expanding a business;
(5) acquisition of a vehicle necessary to
				obtain or maintain employment by an account owner or the spouse of an account
				owner, and
(6) in the case of a
				deceased account owner, amounts deposited by the account owner and held in an
				individual development account shall be distributed to a beneficiary if not in
				conflict with the New Mexico Uniform Probate Code Sections
				45-1-101
				through
				45-1-404,
				NMSA 1978. If the beneficiary is eligible to maintain the account, according to
				the provisions of the act and these rules, then the account as well as matching
				funds designated for that account from the program reserve fund of the program
				administrator may be transferred and maintained in the name of the surviving
				spouse, dependent or beneficiary.
New Mexico Administrative Code › Title 2 - PUBLIC FINANCE › Chapter 79 - INDIVIDUAL DEVELOPMENT ACCOUNTS › Part 1 - GENERAL PROVISIONS › Section 2.79.1.8 - RESPONSIBILITIES OF THE DIVISION

Current through Register Vol. 35, No. 13, July 16, 2024
A.
				Annually, based on the availability of state funds including administrative
				costs of program administrators, the division shall solicit requests for
				proposals from non-profit organizations or tribes interested in establishing or
				further developing an individual development account program.
B. The director shall determine if the entity
				is eligible to be a program administrator under the act and these rules.
				Individual development account programs and program administrators are subject
				to review and approval by the director.
C. Prior to receiving funds pursuant to the
				act, an individual development account program and program administrator shall
				be approved the director.
D. The
				director shall monitor all individual development account programs and program
				administrators subject to the act and these rules and consult with the regional
				planning and development councils (COGs/EDDs) on program implementation as
				needed to ensure that account owners' accounts and the reserve fund accounts
				are being operated according to federal law, the provisions of the act and
				these rules.
E. Each November, the
				division shall provide a report of the activities under the act to the governor
				and to an appropriate interim committee of the legislature.
F. The division shall provide staff support
				and administrative services for the individual development account advisory
				committee in accordance with the act.
New Mexico Administrative Code › Title 2 - PUBLIC FINANCE › Chapter 79 - INDIVIDUAL DEVELOPMENT ACCOUNTS › Part 1 - GENERAL PROVISIONS › Section 2.79.1.9 - RESPONSIBILITIES OF THE ADVISORY COMMITTEE

Current through Register Vol. 35, No. 13, July 16, 2024
Pursuant to the act and these rules, the advisory committee
				  shall provide oversight of the administration of individual development account
				  programs operated by program administrators and subject to the act and these
				  rules, suggest possible changes that benefit account owners or improve the
				  effectiveness of the individual development account programs throughout the
				  state.
A. The advisory committee shall
				meet at least two times in a calendar year to review the implementation of the
				act and these rules.
B. The
				advisory committee members are appointed by the governor and consist of the
				lieutenant governor and eight members to represent the state geographically.
				The director or his designee serves as an ex-officio member of the advisory
				committee.
New Mexico Administrative Code › Title 2 - PUBLIC FINANCE › Chapter 79 - INDIVIDUAL DEVELOPMENT ACCOUNTS › Part 1 - GENERAL PROVISIONS › Section 2.79.1.11 - ACCOUNT OWNER AGREEMENT

Current through Register Vol. 35, No. 13, July 16, 2024
The program administrator operating an approved individual
				  development account program shall be required to enter into an account owner
				  agreement containing the following minimum requirements with an eligible
				  individual:
A. a provision that the
				program administrator and account owner shall establish, in a timely manner, an
				individual development account in an authorized financial
				institution;
B. a deposit plan
				specifying the amount, form and schedule of deposits to be made by the account
				owner;
C. the rate at which the
				account owner's deposits will be matched;
D. the allowable use for which the account is
				maintained;
E. a provision that the
				program administrator shall provide financial literacy and asset-specific
				training approved by the division;
F. a provision that the account owner shall
				attend the financial literacy and asset-specific training;
G. an explanation of the withdrawal policies,
				including:
(1) the policies governing
				withdrawal of savings upon completion of the program,
(2) early withdrawal due to an account
				owner's decision to leave the program,
(3) termination of account due to
				non-compliance by the account owner, and
(4) emergency withdrawals including the
				provision that if an account owner withdraws money from his individual
				development account for a use other than an allowable use, he forfeits a
				proportionate amount from the reserve account unless an amount equal to the
				withdrawn money is deposited into his individual development account within the
				twelve months following the withdrawal;
New Mexico Administrative Code › Title 2 - PUBLIC FINANCE › Chapter 79 - INDIVIDUAL DEVELOPMENT ACCOUNTS › Part 1 - GENERAL PROVISIONS › Section 2.79.1.12 - FINANCIAL INSTITUTIONS

Current through Register Vol. 35, No. 13, July 16, 2024
A program administrator operating an approved state
				  individual development account program shall be required to enter into a
				  written governing instrument with an authorized financial institution. The
				  written governing agreement shall provide for:
A. the establishment of individual
				development accounts in the form of trust or custodial accounts for the benefit
				of the account owners, which meet the requirements of Section 404(5) of the
				Assets for Independence Act, as amended, and into which accounts the account
				owners shall make deposits;
B. an
				assurance that the financial institution shall pay at least a market rate of
				interest on the individual development accounts;
C. an assurance that the financial
				institution shall not charge fees on the account;
D. an assurance that if an account owner
				appears on ChexSystems, the financial institution will open the account as long
				as it does not violate the internal administrative rules of the financial
				institution; refusal to open an account based upon this may occur only in
				extreme circumstances such as the account owner having a previous conviction of
				fraud or other crime;
E. an
				assurance that the financial institution shall provide monthly savings
				statements to both the account owner and the program administrator;
				and
F. an assurance that the
				financial institution shall not require an account owner to make any purchase
				or enter into any commercial transaction with a specific individual, business,
				financial institution or other entity.
New Mexico Administrative Code › Title 2 - PUBLIC FINANCE › Chapter 79 - INDIVIDUAL DEVELOPMENT ACCOUNTS › Part 1 - GENERAL PROVISIONS › Section 2.79.1.14 - ELIGIBLE ACCOUNT OWNERS

Current through Register Vol. 35, No. 13, July 16, 2024
A. To
				participate as an account owner in an individual development account program
				approved by the director an individual, at the time of application, shall be a
				member of a household located in New Mexico whose adjusted gross income is not
				in excess of 200 percent of the federal poverty guidelines and shall:
(1) have earned income;
(2) be eighteen years of age or older;
				and
(3) be a citizen or legal
				resident of the United States.
New Mexico Administrative Code › Title 2 - PUBLIC FINANCE › Chapter 79 - INDIVIDUAL DEVELOPMENT ACCOUNTS › Part 1 - GENERAL PROVISIONS › Section 2.79.1.15 - REPORTING REQUIREMENTS OF PROGRAM ADMINISTRATORS

Current through Register Vol. 35, No. 13, July 16, 2024
A program administrator whose individual development account
				  program is approved by the director shall report to the division no later than
				  November 1st of each year. The report shall not identify individual account
				  owners and shall include, but not be limited to:
A. the number of individual development
				accounts established, by savings objective, and their status;
B. verification that deposits are being made
				by the account owners pursuant to the approved savings plans;
C. the balance and sources of funding in the
				program administrator's local reserve fund;
D. the total money in the aggregate deposited
				in individual development accounts and reserve accounts administered by the
				program administrator;
E. the
				amounts withdrawn from individual development accounts for either allowable
				uses or for uses other than allowable uses;
F. the projected balance of savings to be
				deposited by account owners, by quarter, in order to complete their savings
				goal;
G. levels of participation in
				financial literacy education courses differentiating between individual
				development account participants and the general public; and
H. other information requested by the
				director to monitor the costs and outcomes of the individual development
				account program.
New Mexico Administrative Code › Title 2 - PUBLIC FINANCE › Chapter 79 - INDIVIDUAL DEVELOPMENT ACCOUNTS › Part 1 - GENERAL PROVISIONS › Section 2.79.1.16 - TERMINATION OF INDIVIDUAL DEVELOPMENT ACCOUNT PROGRAMS APPROVED UNDER THE ACT

Current through Register Vol. 35, No. 13, July 16, 2024
A. An
				individual development account program shall be terminated if:
(1) the division determines that the
				individual development account program or program administrator is not
				operating pursuant to the provisions of the Individual Development Account Act
				or these rules;
(2) the provider of
				the program no longer retains its status as a program administrator;
(3) the program administrator ceases to
				provide an individual development account program; or
(4) the division provides written notice to
				the program administrator.
New Mexico Administrative Code › Title 2 - PUBLIC FINANCE › Chapter 79 - INDIVIDUAL DEVELOPMENT ACCOUNTS › Part 1 - GENERAL PROVISIONS › Section 2.79.1.17 - NON-DISCRIMINATION

Current through Register Vol. 35, No. 13, July 16, 2024
A. No eligible
				individual, as defined by the act and these rules, shall be excluded from
				participation in, be denied benefits of, or be subjected to discrimination
				under any activity or program funded in whole or in part with division funds on
				the grounds of the race, religion, color, national origin, sex, sexual
				preference, age, or handicap of any person.
B. If an individual believes that he has been
				unfairly denied access to an approved state individual development account
				program or otherwise treated inequitably as an account owner, the individual
				may file a complaint with the division no later than thirty days after the
				alleged injury. The division shall investigate the complaint and shall attempt
				to informally resolve it. Where applicable, the division may refer the
				individual to the appropriate state or federal agency for potential
				relief.
New Mexico Administrative Code › Title 2 - PUBLIC FINANCE › Chapter 80 - PUBLIC EMPLOYEES RETIREMENT › Part 100 - GENERAL PROVISIONS › Section 2.80.100.1 - 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 100 - GENERAL PROVISIONS › Section 2.80.100.2 - 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.
New Mexico Administrative Code › Title 2 - PUBLIC FINANCE › Chapter 80 - PUBLIC EMPLOYEES RETIREMENT › Part 100 - GENERAL PROVISIONS › Section 2.80.100.3 - STATUTORY AUTHORITY

Current through Register Vol. 35, No. 13, July 16, 2024
This rule is authorized by NMSA 1978, Sections
				  10-11-2
				  and
				  10-11-130,
				  as amended.
New Mexico Administrative Code › Title 2 - PUBLIC FINANCE › Chapter 80 - PUBLIC EMPLOYEES RETIREMENT › Part 100 - GENERAL PROVISIONS › Section 2.80.100.6 - OBJECTIVE

Current through Register Vol. 35, No. 13, July 16, 2024
The objective of Part 100 of Chapter 80 is to define terms
				  used in the Public Employees Retirement Act and its rules and
				  regulations.
New Mexico Administrative Code › Title 2 - PUBLIC FINANCE › Chapter 80 - PUBLIC EMPLOYEES RETIREMENT › Part 200 - ORGANIZATION AND OPERATION OF THE PUBLIC EMPLOYEES RETIREMENT BOARD › Section 2.80.200.1 - 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 200 - ORGANIZATION AND OPERATION OF THE PUBLIC EMPLOYEES RETIREMENT BOARD › Section 2.80.200.2 - 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.
New Mexico Administrative Code › Title 2 - PUBLIC FINANCE › Chapter 80 - PUBLIC EMPLOYEES RETIREMENT › Part 200 - ORGANIZATION AND OPERATION OF THE PUBLIC EMPLOYEES RETIREMENT BOARD › Section 2.80.200.3 - STATUTORY AUTHORITY

Current through Register Vol. 35, No. 13, July 16, 2024
This rule is authorized by Sections
				  10-11-130,
				  10-11A-4,
				  10-12B-3,
				  10-12C-3
				  NMSA 1978, as amended.
New Mexico Administrative Code › Title 2 - PUBLIC FINANCE › Chapter 80 - PUBLIC EMPLOYEES RETIREMENT › Part 200 - ORGANIZATION AND OPERATION OF THE PUBLIC EMPLOYEES RETIREMENT BOARD › Section 2.80.200.5 - EFFECTIVE DATE

Current through Register Vol. 35, No. 13, July 16, 2024
December 30, 2015, 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 200 - ORGANIZATION AND OPERATION OF THE PUBLIC EMPLOYEES RETIREMENT BOARD › Section 2.80.200.6 - OBJECTIVE

Current through Register Vol. 35, No. 13, July 16, 2024
The objective of this rule is to establish procedures for the
				  organization and operation of the retirement board.
New Mexico Administrative Code › Title 2 - PUBLIC FINANCE › Chapter 80 - PUBLIC EMPLOYEES RETIREMENT › Part 200 - ORGANIZATION AND OPERATION OF THE PUBLIC EMPLOYEES RETIREMENT BOARD › Section 2.80.200.10 - RULES AND REGULATIONS

Current through Register Vol. 35, No. 13, July 16, 2024
A. Except
				as otherwise provided in the Public Employees Retirement Act and rules and
				regulations periodically adopted in accordance therewith, the board may provide
				for its organization, operation and procedures by vote of the board at any
				meeting of the board.
B. The board
				may promulgate rules and regulations for the administration of the Public
				Employees Retirement Act, Judicial Retirement Act, Magistrate Retirement Act,
				Volunteer Firefighters Retirement Act and Deferred Compensation Act.
(1)Prior to the adoption, amendment or repeal
				of any rule, the board shall, at least 30 days prior to its proposed action:
(a) publish notice of its proposed action in
				a newspaper with a general statewide circulation; the notice shall:
(i) give the time and place of any public
				hearing and state the manner in which data, views or arguments may be submitted
				to the board by any interested person;
(ii) describe the substance of the proposed
				action, or state the subjects and issues involved;
(iii) include any additional matter required
				by any law, together with specific reference to the statutory authority under
				which the rule is proposed; and
New Mexico Administrative Code › Title 2 - PUBLIC FINANCE › Chapter 80 - PUBLIC EMPLOYEES RETIREMENT › Part 200 - ORGANIZATION AND OPERATION OF THE PUBLIC EMPLOYEES RETIREMENT BOARD › Section 2.80.200.11 - ACTUARIAL ASSUMPTIONS AND USE OF TRUST FUND

Current through Register Vol. 35, No. 13, July 16, 2024
A. Whenever the amount of any benefit is to
				be determined on the basis of actuarial assumptions, the assumptions shall be
				specified by the board in a manner that precludes employer
				discretion.
B. No part of the
				corpus or income of the fund may be used for or diverted to a purpose other
				than the exclusive benefit of the members and their beneficiaries.
C. The board may not engage in a transaction
				prohibited by Section 503(b) of the Internal Revenue Code.
New Mexico Administrative Code › Title 2 - PUBLIC FINANCE › Chapter 80 - PUBLIC EMPLOYEES RETIREMENT › Part 200 - ORGANIZATION AND OPERATION OF THE PUBLIC EMPLOYEES RETIREMENT BOARD › Section 2.80.200.20 - OFFICERS

Current through Register Vol. 35, No. 13, July 16, 2024
A. At the first
				regular meeting of each calendar year, the board shall elect a chair and a
				vice-chair. The duties of the officers shall include the following.
(1)The chair shall preside at all regular and
				special meetings of the board.
(2)The vice-chair shall serve as chair in the
				absence of the chair.
New Mexico Administrative Code › Title 2 - PUBLIC FINANCE › Chapter 80 - PUBLIC EMPLOYEES RETIREMENT › Part 200 - ORGANIZATION AND OPERATION OF THE PUBLIC EMPLOYEES RETIREMENT BOARD › Section 2.80.200.21 - BOARD TRAINING AND EDUCATION

Current through Register Vol. 35, No. 13, July 16, 2024
A. New board members shall attend a new board
				member orientation within two months of being elected or appointed to office.
				New board member orientation shall be provided by PERA staff and shall include
				fiduciary responsibility, investing principles, an actuarial primer and an
				overview of the operations of the association.
B. Each board member shall annually certify
				his or her compliance with the statutory requirements of Section 10-11-133(F)
				NMSA 1978 on the form prescribed by the association on or before December
				31st of each calendar year.
New Mexico Administrative Code › Title 2 - PUBLIC FINANCE › Chapter 80 - PUBLIC EMPLOYEES RETIREMENT › Part 200 - ORGANIZATION AND OPERATION OF THE PUBLIC EMPLOYEES RETIREMENT BOARD › Section 2.80.200.30 - VACANCY ON THE BOARD

Current through Register Vol. 35, No. 13, July 16, 2024
A. In the
				event any member of the PERA board retires from his or her job, resigns from
				the board, is removed from the board or dies, except the ex-officio members of
				the board, that member shall be considered to have resigned from the board and
				the board shall, by resolution, declare that office vacant as of the date of
				the adoption of such resolution. Such resolution shall be adopted within 30
				days after the board member's retirement, resignation, removal or death.
				Members of the retirement board shall serve until their successors have
				qualified.
B. In the event any
				member of the PERA board, except the ex-officio members of the board, ceases
				employment with an affiliated public employer, and is not reemployed by an
				affiliated public employer from the same membership (state, county or
				non-county municipal) group from which that member was elected within 30 days,
				that member shall be considered to have resigned from the board. For purposes
				of 2.80.200.30 NMAC, the term "ceases
				employment" shall include leave without pay status that extends for more than
				12 weeks.
C. The resolution
				declaring the vacancy shall be publicized immediately in conjunction with a
				notice inviting eligible individuals to apply for appointment to the position
				within 30 days of the publication of notice of vacancy. Publication shall be,
				at the minimum, by special notice to employees in the affected membership group
				through their employers. The board shall select the new member from among the
				interested persons who apply pursuant to the publication of the notice of
				vacancy. If no applications are received, the board shall entertain nominations
				by the members present.
D. Any
				vacancy of member, except ex-officio member, occurring on the board shall be
				filled by a quorum of the remaining board members, at a regularly scheduled
				board meeting or special board meeting within 90 days after the adoption of the
				resolution declaring the vacancy. The member selected to fill the vacancy shall
				be selected from the membership group, whether state, county or non-county
				municipal or retired member, which experienced the vacancy. If a vacancy in the
				municipal membership group is that of a county member, the replacement member
				shall be a county employee. The selected member must meet all eligibility
				requirements of elected members and shall be appointed to serve for the
				remainder of the vacated term.
New Mexico Administrative Code › Title 2 - PUBLIC FINANCE › Chapter 80 - PUBLIC EMPLOYEES RETIREMENT › Part 200 - ORGANIZATION AND OPERATION OF THE PUBLIC EMPLOYEES RETIREMENT BOARD › Section 2.80.200.40 - BOARD MEETINGS

Current through Register Vol. 35, No. 13, July 16, 2024
A. The
				board shall hold regular meetings on the last Thursday of each month, unless
				otherwise established by resolution of the board. The board may establish by
				resolution a different meeting schedule for regular meetings of the
				board.
B. A board member may
				participate in a board or committee meeting by means of a conference telephone
				or other similar communications equipment after receiving written approval by
				the board chair or committee chair when it is otherwise difficult or impossible
				for the member to attend the meeting in person. Participation by such means
				shall constitute presence in person at a meeting. The authorization of a board
				member to attend a board or committee meeting by means of a conference
				telephone or other similar communications equipment must be communicated to all
				board members by the approving board chair or committee chair. Each member
				participating must be identified prior to speaking and, if participating
				virtually, shall remain on camera throughout the meeting. All participants
				shall be able to hear any other participant who speaks during the meeting at
				the same time, and members of the public shall be able to hear any member who
				speaks during the meeting.
C. A
				majority of the board members shall constitute a quorum at any meeting of the
				board and each attending member, including the chair, shall be entitled to one
				vote on each issue.
D. No "proxy"
				votes shall be allowed.
New Mexico Administrative Code › Title 2 - PUBLIC FINANCE › Chapter 80 - PUBLIC EMPLOYEES RETIREMENT › Part 200 - ORGANIZATION AND OPERATION OF THE PUBLIC EMPLOYEES RETIREMENT BOARD › Section 2.80.200.50 - COMMITTEES

Current through Register Vol. 35, No. 13, July 16, 2024
A. The chair shall
				appoint no more than six board members to each of the following standing
				committees: rules and administration, audit and budget, legislative,
				investments, deferred compensation, investment plan, and governance. The
				disability review committee shall have at least three but no more than five
				board members. The chair of the board shall appoint the chair of each
				committee. Though the board shall have standing committees, the board chair
				reserves the right to cancel any committee meeting and allow the entire board
				to discuss and act on matters that may be within the subject matter of standing
				committees.
(1) The rules and administration
				committee shall consider and recommend to the board new rules and amendments to
				or repeal of existing rules governing the organization and operation of the
				board and the association. Administrative matters requiring specific direction
				from the board may also be considered by the committee.
(2) The audit and budget committee shall
				provide policy assistance to the board and the executive director of PERA in
				fulfilling PERA's responsibilities for accounting, auditing, budgeting, and the
				quality and integrity of the financial reports of the association.
(3) The legislative committee shall consider
				and recommend to the board proposals for new statutes and amendments to or
				repeal of existing statutes. The committee shall also monitor the introduction
				and progress of proposed legislation affecting the board or association and
				report this information to the board.
(4) The disability review committee is
				described in 2.80.1000.20 NMAC.
(5)
				The investment committee shall review and monitor the administration of the
				investment policy adopted by the board.
(6) The deferred compensation committee shall
				review and monitor the administration of the deferred compensation plan
				investment policy adopted by the board.
(7) The governance committee shall develop,
				review and monitor compliance with the board's policies and procedures, code of
				conduct, and board complaint procedure and recommend to the board proposed
				board disciplinary actions.
New Mexico Administrative Code › Title 2 - PUBLIC FINANCE › Chapter 80 - PUBLIC EMPLOYEES RETIREMENT › Part 200 - ORGANIZATION AND OPERATION OF THE PUBLIC EMPLOYEES RETIREMENT BOARD › Section 2.80.200.60 - ELECTION OF RETIRED BOARD MEMBERS

Current through Register Vol. 35, No. 13, July 16, 2024
A. During the January monthly meeting, the
				retirement board shall adopt a resolution specifying when nominating petitions
				are due to be returned to PERA or an independent contractor hired by PERA to
				assist with the election. These nominating petitions are due not earlier than
				six months prior and not later than one month prior to the election for the
				position of retired board member. The resolution shall also specify whether the
				method of voting shall include mailed paper ballots, online electronic ballots
				or other method approved by the board.
B. Except as provided in Subsection F of this
				section, only a retired member who is receiving a disability or normal
				retirement pension under the Public Employees Retirement Act, Judicial
				Retirement Act or the Magistrate Retirement Act shall be eligible for election
				to a retired board member position.
C. Nominating petitions shall be signed only
				by retired members under the Public Employees Retirement Act, Judicial
				Retirement Act or the Magistrate Retirement Act. To be eligible for inclusion
				on the ballot, a candidate must have a minimum of 50 valid nominations by
				retired members and the candidate shall otherwise be eligible as provided in
				this section for the retired board member position. A valid nomination shall
				include a signature, legible printing of the retiree's name, and one of the
				following:
(1) the last four digits of the
				retiree's social security number;
(2) the retiree's date of birth;
(3) the retiree's PERA identification number.
				A nomination that does not include at least one of these elements shall not be
				counted. For purposes of this subsection, "signature" shall include an
				electronic signature, in any digital format, from a single identifiable e-mail
				address. A retired member may sign more than one nominating petition for
				different candidates. The five eligible candidates with the highest number of
				valid nominations shall be included on the ballot and the other or others shall
				be eliminated. The names of the five retired members receiving the highest
				number of valid nominations shall be placed on the election ballot in
				descending order according to the number of valid signatures received. In case
				of a nominating tie, the election committee may recommend to the board a method
				to determine the names and order and the board shall determine the names and
				order in which the eligible candidates subject to the nominating tie are placed
				on the ballot by lottery or similar method.
New Mexico Administrative Code › Title 2 - PUBLIC FINANCE › Chapter 80 - PUBLIC EMPLOYEES RETIREMENT › Part 200 - ORGANIZATION AND OPERATION OF THE PUBLIC EMPLOYEES RETIREMENT BOARD › Section 2.80.200.90 - BUILDING AND LAND USE

Current through Register Vol. 35, No. 13, July 16, 2024
Restrictions on building and land use shall be provided for
				  by the executive director as needed subject to the advice and consent of the
				  board.
New Mexico Administrative Code › Title 2 - PUBLIC FINANCE › Chapter 80 - PUBLIC EMPLOYEES RETIREMENT › Part 300 - INVESTMENT POLICIES AND PRACTICES › Section 2.80.300.1 - 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 300 - INVESTMENT POLICIES AND PRACTICES › Section 2.80.300.3 - STATUTORY AUTHORITY

Current through Register Vol. 35, No. 13, July 16, 2024
This rule is authorized by NMSA 1978, Sections
				  10-11-130,
				  10-11-132,
				  10-11-133
				  and
				  10-11-133.1,
				  as amended.
New Mexico Administrative Code › Title 2 - PUBLIC FINANCE › Chapter 80 - PUBLIC EMPLOYEES RETIREMENT › Part 300 - INVESTMENT POLICIES AND PRACTICES › Section 2.80.300.6 - OBJECTIVE

Current through Register Vol. 35, No. 13, July 16, 2024
The objective of this rule is to set the public employees
				  retirement board's investment policy for investments of funds under NMSA 1978,
				  Sections
				  10-11-132
				  and
				  10-11-133,
				  as amended.