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Managing the Retirement Assets of New Mexico's Educators since 1957


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Soundfile

from the Executive Director

and

the Chairman of the Board

Audio Clips Coming Soon

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Form 1099-R for retirees

are scheduled to be mailed Jan. 26.

Included in the mailing will be a reply card for a choice to receive

The ERB Connection by mail or email.

 

UPDATE - 2012 NM Legislature

Senate Bill 150

ERB's Plan Design Change Proposal has been introduced at the 2012 NM Legislative Session as Senate Bill 150 (SB 150). To see the full version of SB 150, click the links below.

SB 150

SB 150 (pdf)

 

Plan Design Change Proposal

The Investments and Pension Oversight Committee has endorsed the Educational Retirement Board's proposal to change retirement benefits. The proposal will help improve solvency and ensure sustainability of the fund for many years to come. The Board adopted the plan at its November 21st board meeting. The proposal will be drafted for legislation and be presented during the 2012 NM Legislative Session. To read more about the proposal please click here.

As more information becomes available it will be posted to our website so please be sure to check back here for frequent updates.

Below you will find two links to Frequently Asked Questions (FAQs). One FAQ link details why ERB must make changes and the other FAQ details how the proposed changes will affect current members. You will also find a link to a new scenario chart.

FAQs on why ERB must make changes.

FAQs on how the proposed changes will affect current members.

Plan Design Change Proposal Scenario

Plan Design Change Proposal Myths vs. Facts

To see the Plan Design Input archive, click here.

Click here to see a related article on State Pensions from the Council of State Governments.

Public Comment Period - ERB Rule 3

(Member and Administrative Unit Contributions) (2.82.3 NMAC)

The Educational Retirement Board (the “Board”) is asking for comment on the attached draft revision to ERB Rule 3.  The rule addresses member and local administrative unit contributions to the Educational Retirement Fund.  Comments received on the rule will be evaluated to determine whether further changes should be recommended to the Board for consideration and adoption.

The ERB looks forward to receiving your comments on the revised Rule 3.  Comments should be e-mailed to Rulechange3@nmerb.org by close of business on February 13, 2012. 

Executive Director's Statement Rule 3 pdf

Existing NMERB Rule 3 (Member and Administrative Unit Contributions) (2001)

Comment Draft NMERB Rule 3 (Member and Administrative Unit Contributions) (12-14-11)

Public Comment Period - ERB Rule 2 - Membership (2.82.2 NMAC)

The Educational Retirement Board (the “Board”) is asking for comment on the attached proposed amendment to ERB Rule 2, which addresses membership in the Educational Retirement Fund. The proposed changes are underlined. Comments received on the proposed amendment will be evaluated to determine whether further changes should be recommended to the Board for consideration and adoption.

The ERB looks forward to receiving your comments on the revised Rule 2.  Comments should be e-mailed to Rulechange2@nmerb.org by close of business on February 13, 2012. 

Executive Director's Statement Rule 2 pdf

Comment Draft NMERB Rule 2 (Membership) (12-14-11)

News Headlines

ERB Board Chair Mary Lou Cameron's Letter to the Editors of NM Newspapers 1/23/2012

ERB Campaign Contribution Disclosure Form - 1/18/2012

Investment Committee Agenda - 01/17/2012 at 1pm

ERB Adopts Proposal to Change Retirement Benefits - 11/21/11

ERB Letter to the Mr. Walz, Editor of The Albuquerque Journal - 11/14/2011

ERB Adopts Six Possible Plan Design Changes - 10/19/2011

ERB Adopts Solvency Funding Goals - 10/04/2011

N.M.'s Investment Funds Wisely Diversified - 09/07/2011

ERB Investment Portfolio Exhibits Strong Growth - 08/15/2011

Individuals Claiming to Represent New Mexico ERB - 08/10/2011

A Word About the Markets from ERB's Chief Investment Officer, Bob Jacksha - 08/09/2011

ERB Issues Statement on Investment Fees - 07/22/2011

ERB Letter to the Editor in Response to July 10, 2011 Editorial - 07/20/2011

ERB Letter to the Editor in Response to December 26, 2010 Editorial - 07/18/2011

ERB Letter to the Editor - 06/21/2011

Notice of Right to Inspect Public Records - 06/17/2011

New Mexico ERB 2011 Disability Application Calendar

The December MRB meeting has been moved to Dec. 14; the deadline to submit disability retirement applications is Nov. 16. For more information, click here.

New Mexico ERB 2012 Disability Application Calendar

Click here to visit the ERB Disability webpage.

Plan Design Change Archive

  • Welcome
  • Good to know
  • Quote
  • Video Jan Goodwin
... to the NMERB Web site!

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Find out about board meetings, retirement seminars, news about ERB, read newsletters, annual reports and learn about our investments. Members can also access their accounts online and calculate their benefits.

Browse the site and come back often to learn about any legislative changes, new rules or benefit options. Information gets updated frequently.

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Military Summary

Effective July 1, 2009 purchase of Active Military service will be allowed after five years of active service. The cost will be the employee plus employer contribution rate in effect the year in which the member purchases the service multiplied by the five consecutive years average earnings in the years before the request to purchase service.

When purchasing any allowed service, Military or Allowed, the member must also make a contribution to the NM Retiree Healthcare Authority that is equal to the present value of benefits as determined by NMRHCA. read the brochure

Alternative Retirement Plan

The Alternative Retirement Plan is a defined contribution plan option for certain higher educational institution professional employees. This option has been available since 1991. House Bill 525, sponsored by Rep. Gail Chasey, allows more flexibility in investment payout, the ability to switch to ERB’s defined benefit retirement plan after 7 years, and increases the number of plan up to five different plan sponsors. The Alternative Retirement Plan brochure describes the option to switch.

read the information sheet

Five Simple Steps to NMERB Retirement

NMERB Members who are approaching retirement eligibility requirements should submit their retirement application within 60 to 90 days prior to their effective date of retirement.

Effective dates of retirement are typically on the first day of the month following the last day of employment or when NMERB is in receipt of your application, whichever is later. Those employees on a nine or ten month contract who terminate employment in May will automatically be considered a July 1 retiree.

The following step by step instructions are provided to help the member's retirement process run as smoothly as possible to ensure an initial benefit payment without any lapse in income.

Step One:

Member completes the NMERB Application for Retirement then gives the form and an NMERB acceptable proof of age document to the member's employer. Currently employed members may get the application from their Human Resources Office; those not currently employed may access the application at the "Download Forms" link on the top right section of this page.

Step Two:

Employer completes the Employer Certification then mails both forms, along with proof of age, to the NMERB.

Step Three:

NMERB staff audits the member's account and then mails the member a retirement packet which includes:

  • Post-Retirement Information and Instruction Sheet
  • Final Selection of Benefit Form
  • Estimate of Retirement Benefit
  • Authorization Agreement for Direct Deposit Services
  • State and Federal Tax Deduction Form
  • Post-Retirement Employment Notice

Step Four:

Member completes the following forms and returns them to the NMERB Office:

  • Final Selection of Benefit form, notarized*
  • Authorization of Direct Deposit Services*
  • State and Federal Tax Deduction Form*
  • Post-Retirement Employment Notice

*see notes below

Step Five:

NMERB places member on payroll and sends first benefit payment on the last working day of the member's retirement month.

_____________________________________________________

*The Final Selection of Benefit form must be signed in the presence of a notary public. Notary publics are available at the NMERB Office from 8 am to 5 pm.

*Direct Deposit Services are mandatory. The first retirement benefit check is a mailed, physical check while the pre-note is sent to the member's banking institution; benefit checks are directly deposited into the member's bank account from that point thereafter.

*NMERB retirement benefits are taxable and it is the responsibility of the member to advise the NMERB on how much, if any, should be withheld from the member's monthly payment for tax purposes.

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Retirement is...

 

when you stop living at work and

 

begin working at living.

Watch ERB Executive Director Jan Goodwin's speech at the UNM Staff Council Town Hall Meeting on August 19, 2009

A Presentation on Essential Facts about NMERB.

Click here (new window to UNM Media Technology services will open)

Jan Goodwin, Video of UNM Town Hall on Essential Facts about ERB

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Contact || Handbook

New Mexico Educational Retirement Board (NMERB)
Managing the Retirement Assets of New Mexico's Educators
Santa Fe 505.827.8030
Albuquerque 505.888.1560

toll-free 1.866.691.2345

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