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Box 2123, Santa Fe, New Mexico 87504-2123 (505) 476-9401 fax (505) 476-9300 voice (800) 342-3422 Tol

Box 2123, Santa Fe, New Mexico 87504-2123 (505) 476-9401 fax (505) 476-9300 voice (800) 342-3422 Tol-2025

Box 2123, Santa Fe, New Mexico 87504-2123 (505) 476-9401 fax (505) 476-9300 voice (800) 342-3422 Tol Preview on Page 1

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The document is a certification form for the termination of employment for re-employed retirees of the Public Employees Retirement Association (PERA) of New Mexico. It requires personal information from the retiree and the employer, including signatures to confirm that the retiree understands they will not accrue additional service credit or retirement benefits during the re-employment period.

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How does PERA work in New Mexico?

PERA provides a lifetime pension when you retire and a lifetime pension for your beneficiary as well, if one is chosen. PERA is a defined benefit plan. That means both you and your employer contribute a certain percentage (you from your salary, employer from its funds) towards your retirement.

When can I retire from PERA New Mexico?

Age 63 or older with 11 or more years of service credit; or. Age 64 or older with 8 or more years of service credit; or. Age 65 with 5 or more years of service credit.

How does New Mexico PERA work?

Because PERA is a defined benefit plan, you are guaranteed life-long monthly benefits after retirement. Benefits are paid when certain age and service credit eligibility requirements are met, regardless of the amount of member contributions paid into the plan.

Can I take money out of my PERA account New Mexico?

If you withdraw your member contributions, either by a lump sum refund or rollover, you forfeit your service credit and your tier status may be affected. 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.

What is the average PERA pension in New Mexico?

The average monthly retirement benefit for members is $2,606. PERA serves 47,855 active employees and 45,216 retired members and survivor beneficiaries. New employees contribute 7.42-10.92% of pay to PERA. After a 30-year career, a pension benefit from PERA will replace 50% to 75% of an employees final average salary.