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


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News Headlines

Read the NMERB Summer Newsletter>>

ERB Proposed Rule Changes - Medical Review Board and Investment Committee >>

ERB Returns 40.4% for 12 Month period ending March 31, 2010 >>

ERB 1st Quarter 2010 Investment Results Report >>

HB 239 Passed and Signed by Governor Richardson, no COLA decrease >>

2010 Legislation Affecting ERB >>

2009 Comprehensive Annual Financial Report >>

View all direct deposit dates for 2010 >>

Read the NMERB Winter Newsletter>>

Alternative Retirement Plan Changes: ARP participants can switch to ERB's defined benefit plan>>

How to Avoid Money Scams: Financial Fraud Tips and Tools for Senior >>

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  • 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

Four Steps to A Stress Free Retirement

If you are planning to retire at the end of the school year, follow the steps below and you will receive your first benefit on time. Remember, if you are a nine month employee and you complete the school year, your retirement date must be effective July 1st even though your last day of work may have been in May.

Step One:

Sometime in mid-April you should contact your local personnel or business office. They will provide you with an “Application for Retirement”. You must complete Section I. This includes the usual information: name, address, social security number, etc. You may also request a calculation based on Option B or C. This is only a request for information and is not your final selection.

Step Two:

Return the completed application to your personnel or business office. Your employer must complete Section II. You must also provide verification of your date or birth at this time. This verification can be a copy of your birth certificate, baptismal certificate, an application for life insurance that has been in force for two or more years, United States Census Record or other evidence that is accepted by the ERB.

Step Three:

Your employer will forward the completed application to our office. The ERB will begin processing the July applications sometime in mid-May. When the application is received and logged in, the New Mexico Retiree Health Care Authority is automatically informed of your planned retirement. They will mail you a retirement packet with information on the various health plans available to you.

Step Four:

The ERB staff will review your application for eligibility. A computation of benefit will be completed. Sometime in June you will receive the following information:

  • An information memorandum
  • A final computation of your retirement benefit
  • A final Selection of Benefit form; and
  • A direct deposit authorization form

*You must return these forms before July 15th in order to be placed on the July payroll. If you elect one of the optional benefits, you must provide a verification of the date of birth of your beneficiary.

You are encouraged to have your check electronically deposited.

If you carefully read each document, correctly complete the information requested and return the required forms by July 15th, your first check will be mailed at the end of July and will continue to be sent the last business day of each month.

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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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