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EMPLOYEE EXCLUSION FROM PERA MEMBERSHIP PERA RETIREE - ELECTED OFFICIAL

EMPLOYEE EXCLUSION FROM PERA MEMBERSHIP PERA RETIREE - ELECTED OFFICIAL 2025

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The document is a form for Public Employees Retirement Association (PERA) retirees in New Mexico who are elected to office, allowing them to apply for exclusion from PERA membership. It outlines the necessary information required from the elected official, including personal details and employment information, and emphasizes that the exclusion is irrevocable and applies only for the term of office. Specific instructions and legal references regarding the exclusion process are also provided.

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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.

Am I eligible for a pera?

Intermittent or on-call employees become eligible the first time their pay exceeds $425 in a month. Their enrollment con- tinues until termination of employment, even if their monthly pay does not exceed $425 in any subsequent month.

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.

Who is eligible for a PERA in MN?

You must have worked in public service for a minimum of three years or five years if you first became eligible for PERA after June 30, 2010. If you previously paused your public service at any point, a minimum of two of the years required for benefits must have been earned since last becoming a member.

What does it mean to be fully vested in Pera?

Vesting. Being vested means you qualify for lifetime monthly benefits when you are first eligible to start collecting a monthly benefit. Each PERA Plan has different vesting requirements. See your Plan handbook for more information.

Can you collect both a PERA and social security?

If you are eligible for both a PERA benefit and a Social Security benefit, your PERA benefit will never be reduced due to any Social Security benefit you may receive. However, your Social Security benefit may have been reduced in the past based on your PERA benefit.

What is the threshold for PERA?

As you know, effective July 1, 2023, the earnings threshold for PERAs Coordinated, Correctional, and Police Fire plans is $425 paid in a single month.

Who is eligible for a PERA in Colorado?

Members of PERA include employees of the Colorado state government, public school teachers in the state, many university and college employees, judges, many employees of cities and towns, State Troopers, and the employees of many other public entities.

EMPLOYEE EXCLUSION FROM PERA MEMBERSHIP PERA RETIREE - ELECTED OFFICIAL 2025

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