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Employee Exclusion From PERA Membership Private Retirement

Employee Exclusion From PERA Membership Private Retirement 2025

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The document is a form for employees seeking exemption from membership in the Public Employees Retirement Association (PERA) of New Mexico due to participation in a private retirement program. It outlines the necessary information required from the employee, including personal details and employer information, and specifies the legal basis for the exemption under New Mexico law. The form must be notarized and submitted to PERA within 30 days of employment.

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

Can you opt out of Pera retirement?

No. PERA is a defined benefit plan subject to both state and federal restrictions on participant access to the account until termination of public service.

Is Colorado pera mandatory?

State law requires PERA membership for those employed by a PERA-affiliated employer in most instances, including full-time, part-time, temporary, seasonal, and substitute employees.

Can you opt out of Colorado Pera?

Leaving Your Account(s) With PERA If you leave your DB Plan account(s) with PERA until reaching the age and service credit requirements for retirement eligibility or age 65, you may request a lifetime monthly retirement benefit or do a refund/rollover of your DB Plan account(s).

What is the penalty for withdrawing from PERA?

59-1/2, you may also be subject to an additional 10% penalty for early withdrawal from a pension plan. Settlement Agreements filed after you became a PERA member. If your divorce was PRIOR TO PERA membership, please submit a copy of the first page of your Final Divorce Decree ONLY.

Can I opt out of PERA mn?

Yes, you can stop your contributions at any time. However, you cannot withdraw your funds until you terminate employment.