N.M. Admin. Code § 2.84.1100.20

Current through Register Vol. 35, No. 20, October 22, 2024

Section 2.84.1100.20 - POST-RETIREMENT EMPLOYMENT

A.A member who retires must remain unemployed by an employer covered by any state system or the educational retirement system. This section does not apply to a retired member who:

(1) performs work for an employer covered by any state system or the educational retirement system as an independent contractor under a contract approved by PERA;

(2) is elected to serve a term as an elected official and fled an irrevocable exemption from membership in any state system with PERA within 30 days of taking office; or

(3) is appointed to serve as a magistrate judge pro tempore.

B. When a retired member is subsequently employed by an affiliated public employer or an employer covered by the educational retirement system, the retired member shall notify PERA immediately of the hire date, position and salary of the subsequently employed retired member.

C. The retired member's pension shall be suspended effective the first of the month following the month in which the subsequent employment begins.

D. If a retired member fails to report earnings from subsequent employment with an affiliated public employer or an employer covered by the educational retirement system, and consequently continues to receive pension payments after such payments should have been suspended pursuant to the requirements of Section 10-12C-16 NMSA 1978 and rules promulgated thereunder, the retired member will be required to repay to PERA any amounts erroneously received, plus interest at the rate set by the board for 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.

N.M. Admin. Code § 2.84.1100.20

10-15-97; 2.84.1100.20 NMAC - Rn & A, 2 NMAC 84.1100.20, 12-28-00; A, 9-30-03; A, 12-15-09

Adopted by New Mexico Register, Volume XXVI, Issue 12, June 30, 2015, eff. 7/1/2015