reglab/statecodes huggingface dataset:
New Mexico Administrative Code › Title 2 - PUBLIC FINANCE › Chapter 80 - PUBLIC EMPLOYEES RETIREMENT › Part 300 - INVESTMENT POLICIES AND PRACTICES › Section 2.80.300.30 - BEST EXECUTION AND BEST PRICE

Current through Register Vol. 35, No. 13, July 16, 2024
A. Statement of policy: The New Mexico public
				employees retirement board adopts the following statement as its policy with
				respect to securities transactions of the PERA investment funds.
(1) The board serves as trustee of the
				retirement funds created under the Public Employees Retirement Act, NMSA 1978,
				Section
				10-11-1 et
				seq.; the Judicial Retirement Act, NMSA 1978, Section
				10-12B-1
				et seq.; the Magistrate Retirement Act, NMSA 1978, Section
				10-12C-1
				et seq.; and the Volunteer Firefighters Retirement Act, NMSA 1978, Section
				10-11A-1
				et seq.
(2) As trustee of these
				funds, the board has a fiduciary responsibility to invest these funds solely in
				the interest of the members, retirees, and beneficiaries and exclusively to
				provide benefits to the members, retirees, and beneficiaries and to pay
				reasonable administrative costs. The board also has a fiduciary obligation to
				give primacy to the preservation of trust funds and to insure the procurement
				of a reasonable income while avoiding undue investment risks.
(3) The board has delegated the investment of
				the funds under its jurisdiction to external investment managers.
(4) By contractual agreement, the board has
				delegated to its investment managers full discretion with regard to securities
				transactions so long as they conform to New Mexico state statutes, the PERA
				investment policy and the specific PERA investment objectives and guidelines
				for each particular investment portfolio.
(5) Both by contract and by virtue of common
				law trust principles, the investment managers serve as fiduciaries to PERA and
				must at all times act in a fiduciary capacity to PERA and the investment
				accounts assigned to them.
(6) As
				fiduciaries of the funds, both the board and its investment managers are
				obligated to require that all securities transactions be made on the basis of
				best execution under the circumstances at the lowest available price.
(7) The board's policy is that all securities
				transactions shall be executed on the basis of best execution under the
				circumstances at the lowest available price and that all investment decisions
				shall be made solely for the benefit of the members, retirees and their
				beneficiaries.
New Mexico Administrative Code › Title 2 - PUBLIC FINANCE › Chapter 80 - PUBLIC EMPLOYEES RETIREMENT › Part 400 - EMPLOYEE MEMBERSHIP › Section 2.80.400.1 - 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 400 - EMPLOYEE MEMBERSHIP › Section 2.80.400.2 - SCOPE

Current through Register Vol. 35, No. 13, July 16, 2024
This rule affects the members, former members, retirees,
				  beneficiaries, affiliated 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 400 - EMPLOYEE MEMBERSHIP › Section 2.80.400.3 - STATUTORY AUTHORITY

Current through Register Vol. 35, No. 13, July 16, 2024
This rule is authorized by NMSA 1978, Sections
				  10-11-3,
				  10-11-4,
				  10-11-124,
				  10-11-130,
				  as amended.
New Mexico Administrative Code › Title 2 - PUBLIC FINANCE › Chapter 80 - PUBLIC EMPLOYEES RETIREMENT › Part 400 - EMPLOYEE MEMBERSHIP › Section 2.80.400.10 - MEMBER COVERAGE UNDER PERA

Current through Register Vol. 35, No. 13, July 16, 2024
A.
				Full-time employees who work 40 or more hours in a week and part-time employees
				who work 20 or more hours but fewer than 40 hours in a week shall be
				members.
B. The following employees
				are excluded from coverage:
(1) Retired
				members of PERA or retired members from any other state system as defined in
				subsection D of 2.80.100.7 NMAC who subsequently become employees of affiliated
				public employers. This exclusion does not apply to a previously retired member
				whose pension has been suspended.
(2) Independent contractors. Persons who
				render services to an affiliated public employer as independent contractors are
				not employees who are entitled to PERA membership unless the employment
				contract provides that they are "employees" for federal and state taxation
				purposes, or the IRS had determined that they are "employees" under the
				contract.
(3) Seasonal or student
				employees.
(a) "Seasonal employee" or
				"temporary employee" means an employee who works in a position designated by
				the affiliated public employer as seasonal or temporary and created to last no
				more than 9 consecutive months. Retired members returning to work with an
				affiliated public employer shall not be re-employed under this subsection
				3(a).
(b) "Student employee" means
				an employee who during at least 8 months in any calendar year, or during the
				period of employment, is enrolled at an educational institution whose academic
				credits would be accepted by a state educational institution or a public school
				district and carrying at least 12 credit hours or is enrolled in an educational
				institution's graduate studies program and carrying at least 9 credit hours.
				Any person who is a regular full-time employee is not a "student" for purposes
				of exclusion from PERA membership.
(4) Elected officials who file with the
				association a written application for exemption from membership using the form
				prescribed by the association within twenty-four (24) months of taking office.
				Prior to filing the application for exemption, the elected official shall be a
				member. An application for exemption may be subsequently withdrawn by filing
				with PERA an executed PERA membership application form.
New Mexico Administrative Code › Title 2 - PUBLIC FINANCE › Chapter 80 - PUBLIC EMPLOYEES RETIREMENT › Part 400 - EMPLOYEE MEMBERSHIP › Section 2.80.400.20 - REINSTATEMENT OF PERA BACK BENEFITS AND BACK-PAY

Current through Register Vol. 35, No. 13, July 16, 2024
A. Members or former members whose employment
				has been terminated and who are reinstated PERA back benefits and the
				associated back-pay from an affiliated public employer pursuant to a settlement
				agreement, court order, or administrative decision may acquire service credit
				and remit employee and employer contributions to PERA for the period reinstated
				under the following conditions:
(1) the
				settlement agreement, court order, or administrative decision provides that the
				member or former member was reinstated PERA back benefits and the associated
				back-pay;
(2) the service credit
				reinstated shall not exceed the period of unemployment from affiliated public
				employment between termination and the date designated in the settlement
				agreement, court order or administrative decision. No service credit shall be
				allowed for future service or future employment;
(3) the employee received back-pay in the
				same amount as salary that would have been paid during the period of
				unemployment or an amount that is 50% or more of the employee's regular monthly
				salary; the back-pay may be offset by amounts of salary earned by the employee
				in other employment; contributions shall be remitted on the full amount of
				back-pay without any offset, unless contributions have previously been remitted
				on the offset; salary shall not be posted for the member from more than one
				affiliated public employer, except when the back-pay brings the employee's
				salary to the level it would have been absent the termination;
(4) all employee and employer contributions
				due, plus interest at the rate set by the board pursuant to subsection C of
				2.80.500.8 NMAC, from the date the contributions should have been paid until
				the date of payment, shall be paid before service credit and salary will be
				posted for the member;
(5) service
				credit shall be calculated in accordance with NMSA 1978, Section
				10-11-4
				and 2.80.600 NMAC; and
(6) this
				subsection does not apply to retired members; no adjustment in pension shall be
				made after the first pension payment.
New Mexico Administrative Code › Title 2 - PUBLIC FINANCE › Chapter 80 - PUBLIC EMPLOYEES RETIREMENT › Part 400 - EMPLOYEE MEMBERSHIP › Section 2.80.400.40 - MEMBERSHIP REQUIRED

Current through Register Vol. 35, No. 13, July 16, 2024
All employees of an affiliated public employer are required
				  to be members of PERA, except for those employees excluded by statute. Except
				  in the case of elected officials who file with the association a written
				  application for exemption from membership using the form prescribed by the
				  association within twenty-four (24) months of taking office as provided in
				  paragraph 4 of subsection B of
				  2.80.400.10
				  NMAC, within thirty (30) days of hire, job change, or change to a part-time,
				  seasonal or student employee, employers shall file with PERA an executed PERA
				  membership application form or PERA exclusion from membership form on all
				  employees.
New Mexico Administrative Code › Title 2 - PUBLIC FINANCE › Chapter 80 - PUBLIC EMPLOYEES RETIREMENT › Part 500 - REMITTANCE OF CONTRIBUTIONS › Section 2.80.500.1 - 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 500 - REMITTANCE OF CONTRIBUTIONS › Section 2.80.500.2 - SCOPE

Current through Register Vol. 35, No. 13, July 16, 2024
This rule affects affiliated public employers, 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 500 - REMITTANCE OF CONTRIBUTIONS › Section 2.80.500.3 - STATUTORY AUTHORITY

Current through Register Vol. 35, No. 13, July 16, 2024
This rule is authorized by NMSA 1978, Sections
				  10-11-124
				  and
				  10-11-130,
				  as amended.
New Mexico Administrative Code › Title 2 - PUBLIC FINANCE › Chapter 80 - PUBLIC EMPLOYEES RETIREMENT › Part 600 - SERVICE CREDIT AND PURCHASE OF SERVICE CREDIT › Section 2.80.600.1 - 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 600 - SERVICE CREDIT AND PURCHASE OF SERVICE CREDIT › Section 2.80.600.2 - SCOPE

Current through Register Vol. 35, No. 13, July 16, 2024
This rule affects the members, former 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 600 - SERVICE CREDIT AND PURCHASE OF SERVICE CREDIT › Section 2.80.600.3 - STATUTORY AUTHORITY

Current through Register Vol. 35, No. 13, July 16, 2024
This rule is authorized by NMSA 1978, Sections
				  10-11-4,
				  10-11-6,
				  10-11-7,
				  and
				  10-11-130,
				  as amended.
New Mexico Administrative Code › Title 2 - PUBLIC FINANCE › Chapter 80 - PUBLIC EMPLOYEES RETIREMENT › Part 600 - SERVICE CREDIT AND PURCHASE OF SERVICE CREDIT › Section 2.80.600.5 - 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 600 - SERVICE CREDIT AND PURCHASE OF SERVICE CREDIT › Section 2.80.600.7 - DEFINITIONS

Current through Register Vol. 35, No. 13, July 16, 2024
A. "Full-time
				employee" means an employee who normally works eighty (80) hours in an eighty
				(80) hour pay period or forty (40) hours in a week.
B. "Part-time employee" means an employee who
				works forty (40) or more hours but less than eighty (80) hours in an eighty
				(80) hour pay period or twenty (20) or more hours but less than forty (40)
				hours in a week.
New Mexico Administrative Code › Title 2 - PUBLIC FINANCE › Chapter 80 - PUBLIC EMPLOYEES RETIREMENT › Part 600 - SERVICE CREDIT AND PURCHASE OF SERVICE CREDIT › Section 2.80.600.20 - SERVICE CREDIT

Current through Register Vol. 35, No. 13, July 16, 2024
A. In order to
				claim service credit for service rendered prior to August 1, 1947 or for a
				period prior to the employer becoming an affiliated public employer, a member
				shall:
(1) file a claim for the period of
				employment showing specific beginning and ending dates of employment;
(2) provide certification of employment to
				the association for the period or periods claimed as prior service;
(3) file an affidavit, to be certified and
				signed by two other persons who know of the employment, together with any
				additional documentary evidence available which may be required by the board if
				no records are available for the period of prior service claimed;
(4) provide payroll records, personnel action
				forms showing hire date(s), term of employment, full-time or part-time, job
				classification, salary amounts and dates of personnel actions, job description,
				if any;
(5) contribution history
				from the federal social security administration for the claimed period of
				employment, if applicable.
New Mexico Administrative Code › Title 2 - PUBLIC FINANCE › Chapter 80 - PUBLIC EMPLOYEES RETIREMENT › Part 600 - SERVICE CREDIT AND PURCHASE OF SERVICE CREDIT › Section 2.80.600.30 - PAYMENT FOR PURCHASE OF SERVICE CREDIT

Current through Register Vol. 35, No. 13, July 16, 2024
A. No installment payment contracts may be
				used for the purchase of any service credit.
B. The rate or rates of interest for the
				purchase or reinstatement of service credit shall be set annually by the board
				at a July meeting and shall be effective beginning the next succeeding January
				1st.
C. A vested member may
				purchase a total of five (5) years of permissive service credit as allowed
				under the Public Employees Retirement Act in one lump-sum or as provided by
				statute.
D. A member may rollover
				funds from an Internal Revenue Code Section 457, 403(b), 401(k), IRA or another
				401(a) qualified account to pay for forfeited or permissive service credit
				allowed by the Public Employees Retirement Act. The rollover of funds must be
				made by a trustee-to-trustee transfer and the account from which the funds come
				must be in the name of the member requesting the transfer.
New Mexico Administrative Code › Title 2 - PUBLIC FINANCE › Chapter 80 - PUBLIC EMPLOYEES RETIREMENT › Part 700 - NORMAL RETIREMENT › Section 2.80.700.1 - ISSUING AGENCY

Current through Register Vol. 35, No. 13, July 16, 2024
Public Employees Retirement Association, 33 Plaza La Prensa,
				  Santa Fe, NM, 87507
New Mexico Administrative Code › Title 2 - PUBLIC FINANCE › Chapter 80 - PUBLIC EMPLOYEES RETIREMENT › Part 700 - NORMAL RETIREMENT › Section 2.80.700.2 - SCOPE

Current through Register Vol. 35, No. 13, July 16, 2024
This rule affects the members, retirees, beneficiaries,
				  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 700 - NORMAL RETIREMENT › Section 2.80.700.3 - STATUTORY AUTHORITY

Current through Register Vol. 35, No. 13, July 16, 2024
This rule is authorized by, Sections
				  10-11-8,
				  10-11-116,
				  10-11-130,
				  10-11-136 NMSA 1978, as
				  amended.
New Mexico Administrative Code › Title 2 - PUBLIC FINANCE › Chapter 80 - PUBLIC EMPLOYEES RETIREMENT › Part 700 - NORMAL RETIREMENT › Section 2.80.700.20 - BENEFIT PAYMENT

Current through Register Vol. 35, No. 13, July 16, 2024
The maximum annual benefit limits contained in Internal
				  Revenue Code Section 415(b), as amended and adjusted, are incorporated herein
				  by reference. Notwithstanding any other provision of the PERA Act and
				  regulations, all benefits paid from the PERA trust fund shall be distributed in
				  accordance with the requirements of Internal Revenue Code Section 401(a)(9) and
				  the regulations under that section. In order to meet these requirements, the
				  trust fund must be administered in accordance with the following
				  provisions:
A. The entire interest of
				the member shall:
(1) be completely
				distributed to the member not later than the required beginning date;
				or
(2) shall be distributed,
				beginning not later than the required beginning date, in accordance with
				internal revenue service regulations, over a period not extending beyond the
				life expectancy of the member or the life expectancy of the member and a
				designated beneficiary.
New Mexico Administrative Code › Title 2 - PUBLIC FINANCE › Chapter 80 - PUBLIC EMPLOYEES RETIREMENT › Part 700 - NORMAL RETIREMENT › Section 2.80.700.30 - ANNUAL COMPENSATION

Current through Register Vol. 35, No. 13, July 16, 2024
Notwithstanding any provision of the PERA Act and
				  regulations, the annual compensation of each member that is taken into account
				  under the plan, including for benefit calculation purposes, for any year does
				  not exceed the limit specified in Internal Revenue Code Section
				  401(a)(17).
New Mexico Administrative Code › Title 2 - PUBLIC FINANCE › Chapter 80 - PUBLIC EMPLOYEES RETIREMENT › Part 800 - CORRECTION OF ERRORS AND OMISSIONS › Section 2.80.800.1 - 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 800 - CORRECTION OF ERRORS AND OMISSIONS › Section 2.80.800.2 - 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 800 - CORRECTION OF ERRORS AND OMISSIONS › Section 2.80.800.3 - STATUTORY AUTHORITY

Current through Register Vol. 35, No. 13, July 16, 2024
This rules is authorized by NMSA 1978, Sections
				  10-11-4.2,
				  10-11-130,
				  as amended.
New Mexico Administrative Code › Title 2 - PUBLIC FINANCE › Chapter 80 - PUBLIC EMPLOYEES RETIREMENT › Part 800 - CORRECTION OF ERRORS AND OMISSIONS › Section 2.80.800.8 - CORRECTION OF ERRORS AND OMISSIONS

Current through Register Vol. 35, No. 13, July 16, 2024
The board directs the executive director to make all
				  reasonable efforts to collect any pension overpayment made for any
				  reason.
New Mexico Administrative Code › Title 2 - PUBLIC FINANCE › Chapter 80 - PUBLIC EMPLOYEES RETIREMENT › Part 900 - PRE-RETIREMENT SURVIVOR PENSIONS › Section 2.80.900.1 - ISSUING AGENCY

Current through Register Vol. 35, No. 13, July 16, 2024
Public Employees Retirement Association, 33 Plaza La Prensa,
				  Santa Fe, NM, 87507
New Mexico Administrative Code › Title 2 - PUBLIC FINANCE › Chapter 80 - PUBLIC EMPLOYEES RETIREMENT › Part 900 - PRE-RETIREMENT SURVIVOR PENSIONS › Section 2.80.900.2 - SCOPE

Current through Register Vol. 35, No. 13, July 16, 2024
This rule affects beneficiaries of deceased PERA members, 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 900 - PRE-RETIREMENT SURVIVOR PENSIONS › Section 2.80.900.3 - STATUTORY AUTHORITY

Current through Register Vol. 35, No. 13, July 16, 2024
This rule is authorized by Sections
				  10-11-14.5,
				  10-11-130 NMSA 1978, as
				  amended.
New Mexico Administrative Code › Title 2 - PUBLIC FINANCE › Chapter 80 - PUBLIC EMPLOYEES RETIREMENT › Part 900 - PRE-RETIREMENT SURVIVOR PENSIONS › Section 2.80.900.5 - EFFECTIVE DATE

Current through Register Vol. 35, No. 13, July 16, 2024
October 10, 2023, 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 900 - PRE-RETIREMENT SURVIVOR PENSIONS › Section 2.80.900.8 - PRE-RETIREMENT SURVIVOR PENSIONS

Current through Register Vol. 35, No. 13, July 16, 2024
The procedure for payment of a pre-retirement survivor
				  pension is:
A. Applicants for
				pre-retirement survivor pensions shall notify PERA of the death of the member
				and complete an application for benefits.
B. The completed application shall be
				returned to PERA with the following documents:
(1) A certified copy of the death certificate
				or other proof of death acceptable in a court of law.
(2) Copy of marriage license or other proof
				of marital status acceptable in a court of law if the application is for a
				surviving spouse.
(3) Affidavit of
				surviving spouse that he or she and the deceased member were married at the
				time of death and stating whether there are any surviving minor children of the
				deceased member.
(4) Proof of age
				of the surviving spouse, surviving minor children or other designated
				beneficiary or the proof of age for a beneficiary to a supplemental needs
				trust. Acceptable documents for proof of age shall be a birth certificate, a
				baptismal certificate, a copy of a life insurance policy, a certified copy of a
				voter registration issued over 10 years prior, or proof of age meeting a
				standard at least equivalent to that applied by the social security
				administration.
(5) Documents
				required under the Probate Code for payments to a minor if the application is
				on behalf of eligible surviving children.
(6) Affidavit that the applicant or
				beneficiary of a special needs trust is unmarried if the applicant is a child
				of the deceased member or a supplemental needs trust formed for the benefit of
				a child of the deceased member.
(7)
				Copies of social security cards for all prospective payees.
(8) If the member has been divorced, the
				applicant shall provide PERA with complete endorsed copies of all court
				documents the association deems necessary to ascertain the marital status of
				the member at the time of death and whether any ex-spouse of the member is
				entitled to any portion of any benefits payable. 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.
(9) a copy of the documents related to the
				formation of the supplemental needs trust, an affidavit from the trustee that
				the trust is formed as a supplemental needs trust as authorized by the federal
				Social Security Act and any additional information requested by the association
				if the application is on behalf of a supplemental needs trust.
New Mexico Administrative Code › Title 2 - PUBLIC FINANCE › Chapter 80 - PUBLIC EMPLOYEES RETIREMENT › Part 1000 - DISABILITY RETIREMENT BENEFITS › Section 2.80.1000.1 - 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 1000 - DISABILITY RETIREMENT BENEFITS › Section 2.80.1000.2 - SCOPE

Current through Register Vol. 35, No. 13, July 16, 2024
This rule affects the members, disability retirees,
				  beneficiaries, affiliated public employers, 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 1000 - DISABILITY RETIREMENT BENEFITS › Section 2.80.1000.3 - STATUTORY AUTHORITY

Current through Register Vol. 35, No. 13, July 16, 2024
Sections
				  10-11-10.1 and
				  10-11-130 NMSA
				  1978.
New Mexico Administrative Code › Title 2 - PUBLIC FINANCE › Chapter 80 - PUBLIC EMPLOYEES RETIREMENT › Part 1000 - DISABILITY RETIREMENT BENEFITS › Section 2.80.1000.6 - OBJECTIVE

Current through Register Vol. 35, No. 13, July 16, 2024
The objectives of this rule are to define terms used in the
				  disability retirement provision of the PERA Act; to set forth with
				  particularity the membership of the committee; to clarify the compensation
				  applicable to various members of the committee; to set forth procedures for
				  initial disability retirement applications and for reevaluation of retirees'
				  continued eligibility for disability payments; to provide a procedure for trial
				  employment; and to provide for notice to retirees of pension reclassifications.
				  The intent of the board in promulgating these rules is to encourage continued
				  employment of members while providing protection in cases of disability.
				  Vocational rehabilitation is strongly recommended in every case
				  possible.
New Mexico Administrative Code › Title 2 - PUBLIC FINANCE › Chapter 80 - PUBLIC EMPLOYEES RETIREMENT › Part 1000 - DISABILITY RETIREMENT BENEFITS › Section 2.80.1000.7 - DEFINITIONS

Current through Register Vol. 35, No. 13, July 16, 2024
For purposes of disability retirement the following
				  definitions shall apply:
A.
"Commensurate"
employment means that the applicant is able to
				engage in some profitable employment or enterprise in the state of New Mexico,
				which approximates to a substantial degree the applicant's pre-injury
				compensation but is not necessarily equal to the applicant's pre-injury
				employment.
B.
"Course of the
				member's performance of duty"
means place or activity for which the
				employer's business requires the presence of the employee, but shall not
				include travel or time on the way to assume the duties of employment or travel
				or time leaving such duties, except when the employee is temporarily assigned
				to a destination other than his or her normal work station or is within the
				"special errand" rule, in which case such time will be considered to be in the
				course of employment. Mere presence on the employer's premises while coming to
				or going from the job shall not establish this element unless the member has
				also assumed or is performing job duties.
C.
"Currently employed, contributing
				employee of an affiliated public employer,"
in the case of an applicant
				for duty disability benefits, means the employment and contribution status on
				the date the disability was incurred.
D.
"Likely to be permanent"
means that the weight of the medical evidence presented indicates that the
				applicant has either reached maximum medical improvement and the disability
				will probably last at least until the applicant reaches the age at which he or
				she will become eligible for normal retirement or that the medical information
				supports a determination of permanent disability, even though maximum medical
				improvement has not been reached.
E.
"Solely and exclusively"
means the member's work is so substantial a factor of the disability that the
				disability would not have occurred at the time without it and a pre-existing
				condition is not a significant contributing factor material to the
				disability.
F.
"Totally
				incapacitated"
means inability, as a result of either sudden injury or
				illness or the cumulative long-term effects of injury or illness, to work the
				member's regular work week.
New Mexico Administrative Code › Title 2 - PUBLIC FINANCE › Chapter 80 - PUBLIC EMPLOYEES RETIREMENT › Part 1000 - DISABILITY RETIREMENT BENEFITS › Section 2.80.1000.20 - DISABILITY REVIEW COMMITTEE

Current through Register Vol. 35, No. 13, July 16, 2024
A. The
				disability review committee shall consist of at least one physician licensed in
				New Mexico and at least three, but not more than five members of the board; the
				physician need not be either a board member or association member, but may be
				either or both. The committee may also engage a psychologist (Ph.D.) or a
				psychiatrist (M.D.) licensed in New Mexico to serve on an as-needed basis to
				evaluate and advise the committee regarding applications for disability
				retirement based in whole or in part on mental incapacity.
B. The executive director or designated
				representative shall act as secretary for the committee.
C. Compensation: Members of the committee
				shall receive no compensation other than that authorized by the Per Diem and
				Mileage Act, except that physicians, psychiatrists or psychologists who are not
				board or association members and are engaged by the board to serve on the
				committee may be compensated at the rate established by the board.
New Mexico Administrative Code › Title 2 - PUBLIC FINANCE › Chapter 80 - PUBLIC EMPLOYEES RETIREMENT › Part 1000 - DISABILITY RETIREMENT BENEFITS › Section 2.80.1000.30 - INITIAL APPLICATION PROCEDURE

Current through Register Vol. 35, No. 13, July 16, 2024
A. Application. The association shall provide
				application forms for members to use in complying with these provisions. No
				member shall be deemed an applicant for disability retirement until the member
				or his or her representative or employer has completed and filed the disability
				application package, including all the forms required in order to process the
				application. The following forms shall be required in order to process the
				application:
(1) Employer's report of
				disability (not applicable to members who are not currently employed
				contributing members). If the employer refuses to provide the report, the
				committee may take whatever steps it deems necessary to obtain the required
				information.
(2) Member's examining
				physician's statement for disability retirement benefits. If the application is
				for disability retirement based on physical incapacity, the examining physician
				must be a medical doctor (M.D.), doctor of osteopathic medicine (D.O.),
				certified nurse practitioner (CNP), or a physician's assistant (PA). An M.D.,
				D.O., or CNP must be licensed in the state in which he or she practices. If the
				application is for disability retirement based on mental incapacity, the
				examining physician must be either a psychologist (Ph.D.) certified in the
				state in which he or she practices, a psychiatrist (M.D.), or certified nurse
				practitioner (CNP) licensed in the state in which he or she practices. If the
				application is for disability retirement based on both physical and mental
				incapacity, reports must be made for each kind of incapacity. The examining
				physician's statements shall be based on an examination of the member not more
				than 3 months prior to the date of submitting the application.
(3) Employer's first report of injury, if
				any.
(4) A list of all health care
				practitioners consulted who have examined or treated the member regarding the
				disability and all records, reports, narratives, evaluations, diagnoses,
				prognoses or notes discussing, establishing, evaluating or measuring the
				disability. Such records shall include, but not be limited to, one or more
				reports, evaluations, analyses or narratives made within 90 days of
				application.
(5) Copies of any and
				all vocational rehabilitation reports and work performance evaluation reports
				made since the disability was incurred.
(6) Release of medical information to PERA on
				a form signed by the applicant or his or her legal representative.
(7) Any other information requested by
				members of the committee.
New Mexico Administrative Code › Title 2 - PUBLIC FINANCE › Chapter 80 - PUBLIC EMPLOYEES RETIREMENT › Part 1000 - DISABILITY RETIREMENT BENEFITS › Section 2.80.1000.40 - APPEAL

Current through Register Vol. 35, No. 13, July 16, 2024
If the committee denies disability retirement benefits, the
				  applicant may appeal the action. Any appeals under this section shall be
				  conducted according to Section
				  10-11-120 NMSA 1978 and 2.80.1500
				  NMAC. An applicant's withdrawal or refund of contributions at any time before
				  or during the pendency of an appeal causes the forfeiture of service credit and
				  shall result in the automatic dismissal of the appeal and the issuance of a
				  notice of dismissal.
New Mexico Administrative Code › Title 2 - PUBLIC FINANCE › Chapter 80 - PUBLIC EMPLOYEES RETIREMENT › Part 1000 - DISABILITY RETIREMENT BENEFITS › Section 2.80.1000.50 - CONTINUATION PROCEDURE

Current through Register Vol. 35, No. 13, July 16, 2024
A. At the
				end of the first year that a disability retirement pension is paid, the
				disability retired member's condition shall be reevaluated to determine
				eligibility for continuation of payment of a disability retirement
				pension.
B. The disability retired
				member must submit a copy of the application for benefits with the federal
				social security administration and written evidence of payment of federal
				disability benefits in the following form:
1)
				a copy of a warrant for federal disability benefits; or
2) a letter from the federal social security
				administration confirming that the disability retired member is receiving
				federal disability benefits.
New Mexico Administrative Code › Title 2 - PUBLIC FINANCE › Chapter 80 - PUBLIC EMPLOYEES RETIREMENT › Part 1000 - DISABILITY RETIREMENT BENEFITS › Section 2.80.1000.60 - TRIAL EMPLOYMENT

Current through Register Vol. 35, No. 13, July 16, 2024
A. A
				disability retired member who desires to return to employment for a trial
				period of not more than 120 calendar days shall first request, in writing,
				approval from the association not less than 30 days before the first day of
				work. The request for approval shall contain the following information:
(1) name, address, and telephone number of
				the proposed employer;
(2) job
				title;
(3) salary;
(4) trial employment start date.
New Mexico Administrative Code › Title 2 - PUBLIC FINANCE › Chapter 80 - PUBLIC EMPLOYEES RETIREMENT › Part 1000 - DISABILITY RETIREMENT BENEFITS › Section 2.80.1000.70 - EARNINGS FROM EMPLOYMENT

Current through Register Vol. 35, No. 13, July 16, 2024
A.
				Except for trial employment, a disability retired member who desires to return
				to employment by an employer covered by any state system shall comply with the
				applicable rule regarding post-retirement employment, Subsection G of
				2.80.700.10 NMAC for PERA retirees,
				2.84.1100.20 NMAC for magistrate
				retirees or
				2.83.1100.20 NMAC for judicial
				retirees.
B. If the amount earned
				from any employment, except for trial employment, is $15,000 or more,
				disability benefits shall be suspended immediately and any amounts paid after
				that limit is reached must be reimbursed by the retiree to PERA.
C. PERA shall require all disability retired
				members to provide a statement of earnings from any employment during the
				preceding calendar year. Such statement of earnings shall include the internal
				revenue service tax return or other proof of earnings, acceptable to PERA, if
				an IRS tax return does not exist.
New Mexico Administrative Code › Title 2 - PUBLIC FINANCE › Chapter 80 - PUBLIC EMPLOYEES RETIREMENT › Part 1000 - DISABILITY RETIREMENT BENEFITS › Section 2.80.1000.80 - PENSION RECLASSIFICATION

Current through Register Vol. 35, No. 13, July 16, 2024
When a disability retired member reaches the combined age and
				  years of service that qualifies a member for normal retirement benefits under
				  the coverage plan under which the disability retired member was last employed
				  before receiving disability retirement benefits, PERA shall reclassify that
				  person's pension from disability to normal retirement. The disability retired
				  member shall be notified in writing by PERA of this action within 30 days of
				  reclassification.
New Mexico Administrative Code › Title 2 - PUBLIC FINANCE › Chapter 80 - PUBLIC EMPLOYEES RETIREMENT › Part 1100 - RETIRED MEMBERS › Section 2.80.1100.1 - 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 1100 - RETIRED MEMBERS › Section 2.80.1100.2 - SCOPE

Current through Register Vol. 35, No. 13, July 16, 2024
This rule affects retirees, beneficiaries, 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 1100 - RETIRED MEMBERS › Section 2.80.1100.3 - STATUTORY AUTHORITY

Current through Register Vol. 35, No. 13, July 16, 2024
This rule is authorized by NMSA 1978, Sections
				  10-11-8,
				  10-11-118,
				  10-11-118.1,
				  10-11-119,
				  and
				  10-11-130,
				  as amended.
New Mexico Administrative Code › Title 2 - PUBLIC FINANCE › Chapter 80 - PUBLIC EMPLOYEES RETIREMENT › Part 1100 - RETIRED MEMBERS › Section 2.80.1100.6 - OBJECTIVE

Current through Register Vol. 35, No. 13, July 16, 2024
The objective of this rule is to establish standards and
				  procedures for the payment, suspension and reinstatement of pensions of retired
				  members; to establish notification and reporting requirements for
				  post-retirement employment; and to establish conditions for retired members who
				  work for affiliated public employers as independent
				  contractors.
New Mexico Administrative Code › Title 2 - PUBLIC FINANCE › Chapter 80 - PUBLIC EMPLOYEES RETIREMENT › Part 1100 - RETIRED MEMBERS › Section 2.80.1100.10 - PAYMENT OF PENSION

Current through Register Vol. 35, No. 13, July 16, 2024
Pension payments will be processed or mailed monthly, not
				  later than the last day of the month for which they are paid.
A. A retired member may have the pension
				warrant mailed directly to any location specified in writing by the retired
				member; provided, however, that after December 31, 1998, the provisions of
				2.80.700.10.B(5) NMAC shall apply. Arrangements providing for electronic
				transfer of pension payments to the retiree's banking institution are permitted
				so long as the retired member's right to receipt of the funds is not altered
				except as ordered by a court of competent jurisdiction.
B. In the event a retired member is
				incapacitated or unable to sign his or her pension warrant, proof that a
				guardian has been appointed for the retired member, or proof of appointment of
				a conservator for the estate, or a copy of a durable power of attorney for a
				third party shall be filed with PERA.
New Mexico Administrative Code › Title 2 - PUBLIC FINANCE › Chapter 80 - PUBLIC EMPLOYEES RETIREMENT › Part 1100 - RETIRED MEMBERS › Section 2.80.1100.20 - POST-RETIREMENT EMPLOYMENT

Current through Register Vol. 35, No. 13, July 16, 2024
A. When a
				retired member is subsequently employed by an affiliated public employer, the
				retired member shall notify PERA immediately on the form prescribed by the
				association of the hire date, position and salary of the subsequently employed
				retired member.
B. If a retired
				member returns to work and his or her pension is suspended pursuant to NMSA
				1978, Section
				10-11-8,
				the retired member will be required to repay PERA any pension amounts
				erroneously paid after commencement of employment or reemployment, plus
				interest at the rate set by the board for collecting overpayments. If
				erroneously paid pension payments have not been repaid when the subsequent
				employment is terminated and the retired member has applied for reinstatement
				of the pension, the erroneously paid amount must be repaid in full before the
				pension may be reinstated, or the subsequently employed retired member must
				make arrangements acceptable to PERA for the erroneously paid amount to be
				withheld from the reinstated pension until fully repaid.
New Mexico Administrative Code › Title 2 - PUBLIC FINANCE › Chapter 80 - PUBLIC EMPLOYEES RETIREMENT › Part 1100 - RETIRED MEMBERS › Section 2.80.1100.30 - SUSPENSION OF PENSION

Current through Register Vol. 35, No. 13, July 16, 2024
A. A
				previously retired member who is subsequently employed by an affiliated public
				employer and whose pension is suspended pursuant to NMSA 1978, Section
				10-11-8(C) shall not become a member. The previously retired member will be
				eligible to reinstate his or her pension upon termination of the subsequent
				employment under the following conditions:
(1)
				the member files an application for reinstatement of pension in the form
				required by PERA; and
(2) the
				member's pension, under form of payment A, shall not be less than the amount of
				the previous pension under form of payment A; and
(3) reinstatement of the pension does not
				constitute the member's latest retirement for purposes of cost-of-living
				adjustment eligibility pursuant to NMSA 1978, Section 10-11-118(C).
New Mexico Administrative Code › Title 2 - PUBLIC FINANCE › Chapter 80 - PUBLIC EMPLOYEES RETIREMENT › Part 1100 - RETIRED MEMBERS › Section 2.80.1100.40 - INDEPENDENT CONTRACTORS

Current through Register Vol. 35, No. 13, July 16, 2024
A retired member who intends to render services to an
				  affiliated public employer as an independent contractor shall submit the
				  contract to the association at least fifteen (15) working days prior to the
				  effective date of the contract. If a retired member contracts to perform work
				  for any affiliated public employer, the following conditions shall
				  apply:
A. PERA shall evaluate the
				contract to determine whether, under the terms of the contract, the retired
				member is an "employee" or an "independent contractor". To make this
				determination, PERA shall refer to the common-law control test guidelines as
				expressed in the Social Security Handbook published by the U.S. department of
				health and human services, as revised and amended. If PERA determines that the
				retired member is actually an "employee" rather than an "independent
				contractor" under the terms of the contract, the provisions of NMSA 1978,
				Section
				10-11-8
				and 2.80.1100.20 NMAC, will be applicable to the retired member. If the retired
				member disagrees with PERA's determination, the retired member may appeal
				PERA's decision pursuant to 2.80.1500 NMAC.
B. Renewals, amendments or modifications of a
				previously approved post-retirement contract shall also be submitted to PERA
				for evaluation fifteen (15) working days prior to their effective date. The
				provisions of this section will apply to such renewals, amendments or
				modifications.
New Mexico Administrative Code › Title 2 - PUBLIC FINANCE › Chapter 80 - PUBLIC EMPLOYEES RETIREMENT › Part 1200 - LEGISLATIVE RETIREMENT › Section 2.80.1200.1 - 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 1200 - LEGISLATIVE RETIREMENT › Section 2.80.1200.2 - SCOPE

Current through Register Vol. 35, No. 13, July 16, 2024
All persons who are eligible and desire to claim service
				  credit or receive benefits under the legislative retirement provisions of the
				  Public Employees Retirement Act.
New Mexico Administrative Code › Title 2 - PUBLIC FINANCE › Chapter 80 - PUBLIC EMPLOYEES RETIREMENT › Part 1200 - LEGISLATIVE RETIREMENT › Section 2.80.1200.3 - STATUTORY AUTHORITY

Current through Register Vol. 35, No. 13, July 16, 2024
Sections
				  10-11-39
				  through 43 NMSA 1978 create state legislator member coverage plan 1. Sections
				  10-11-43.1
				  through
				  10-11-43.5
				  NMSA 1978 create state legislator member coverage plan 2. Section
				  10-11-129.1
				  creates the legislative retirement fund. Section
				  10-11-130,
				  NMSA 1978, authorizes the public employees retirement board to make and adopt
				  such reasonable rules and regulations as may be necessary or convenient to
				  carry out the duties of the retirement board and activities of the
				  association.
New Mexico Administrative Code › Title 2 - PUBLIC FINANCE › Chapter 80 - PUBLIC EMPLOYEES RETIREMENT › Part 1200 - LEGISLATIVE RETIREMENT › Section 2.80.1200.6 - OBJECTIVE

Current through Register Vol. 35, No. 13, July 16, 2024
The objective of Part 1200 is to establish the procedures for
				  acquiring benefits under the legislative retirement provisions of the Public
				  Employees Retirement Act. Included are procedures which address persons whose
				  membership or benefits under state legislator member coverage plan 1 were
				  affected by court orders enjoining the association from administering the plan
				  during the course of litigation concerning the constitutionality of the plan.
				  See State v. Public Employees Retirement Board et al., N.M. Sup. Ct. Case No.
				  22, 279.
New Mexico Administrative Code › Title 2 - PUBLIC FINANCE › Chapter 80 - PUBLIC EMPLOYEES RETIREMENT › Part 1200 - LEGISLATIVE RETIREMENT › Section 2.80.1200.7 - 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 1200 - LEGISLATIVE RETIREMENT › Section 2.80.1200.8 - AMENDMENT AND REPEAL

Current through Register Vol. 35, No. 13, July 16, 2024
Section 30 of 2.80.1200 NMAC is hereby amended and moved to
				  subsection 10.C of this rule. This rule repeals in their entirety sections
				  1200.10 and 1200.20 of PERA Rule 1200, Legislative Retirement, filed July 1,
				  1987. Note: The July 1, 1987 version of Rule 1200 superseded the original
				  version of PERA Rule 1200, which was filed 11-19-81.