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Retirement Application with email option and blue app format - nmerb

Retirement Application with email option and blue app format - nmerb 2025

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The document provides detailed instructions for members of the New Mexico Educational Retirement Board (NMERB) on how to apply for retirement. It outlines necessary member and beneficiary information, verification of date of birth, effective retirement dates, optional forms of benefit payment (Options A, B, and C), monthly benefit payments, community property considerations, and a checklist to ensure all required information is included in the application. Additionally, it includes sections for employer certification and contact details for NMERB.

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Got questions?

We have answers to the most popular questions from our customers. If you can't find an answer to your question, please contact us.

What is the retirement percentage for Nmerb?

0.6% for each year, or portion thereof, that retirement occurs prior to the members 65th birthday but after the 60th birthday (equal to 2.4% per year), plus. 1.8% for each year, or portion thereof, that retirement occurs prior to the members 60th birthday (equal to 7.2% per year).

How is NM Pera retirement calculated?

For a Defined Benefit Plan member, a PERA pension is based on a formula using three variables: your age at retirement, the average of your highest five consecutive years salary, and your years of service credit.

What is the formula to calculate retirement?

The retirement calculation: When you retire, calculate 4% of your total retirement savings; this is what you can draw down during your first year. The second year, adjust for inflation by adding 3% to your first-year figure. This is your new 4%. Continue every year by adding 3% more.

How is NM teacher retirement calculated?

Final Average Salary (FAS) x Years of Service x 2.35% pension factor (Tiers 1 thru 3)= Gross Annual Benefit.

What is the formula for Nmerb retirement?

If you need additional information or support regarding Member forms, please contact us at 1-800-663-1919 or by using the Contact Member Services form.

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