Retirement plan eligibility, enrollment, retirement process and questions regarding Voluntary Retirement Plans (403b & 457), NMERB defined benefit plan and defined contribution plan (Alternative Retirement Plan-ARP), retirement process, retiree benefits, and withdrawals. For additional information visit https://benefits.nmsu.edu/retire/index.html.
Eligibility: NMERB Plans: Employees working more than 10 hours per week (.25 FTE) (excludes graduate assistants and student employees). Eligible employees automatically become a member of the Educational Retirement Board (ERB) plan when they begin employment with any entity covered by the Educational Retirement Act (ERA). Membership in the ERB is a condition of employment. Upon employment, the ERB creates an individual account for the employee. Contributions toward retirement are deducted from the employee's earnings each pay period automatically. All new hires are required to complete an ERB Beneficiary Designation form and the Employee Data form (submit via Benefit Forms service ticket).
Voluntary Retirement Plans (403b/457): All employees, including graduate assistants and student employees, are eligible. Employees must create a NMSU account with the applicable vendor before submitting a Salary Reduction form. Benefits are effective first of the pay period following the receipt of the Salary Reduction form unless a future date is requested.
To request a distribution or withdrawal of your ARP, 403b or 457 contributions, contact the vendor for the appropriate forms. Send completed forms to NMSU Benefit Services for signature. Please note, NMSU requires notarized spousal consent on all distributions/withdrawals.
Distribution or withdrawal options for 403b: Attainment of age 59 1/2, termination of employment, or disability.
Distribution or withdrawal options for 457: Attainment of age 70 1/2, termination of employment, disability, unforeseen emergency, no contributions in past 2 years & account greater than $5,000.
NMERB Member Termination Before Retirement
If an employee terminates employment prior to retirement eligibility, the following options are available:
- Do nothing. Contributions will remain with the NMERB.
- You will retain your service credit and tier status. Additional service credit will be added if the employee resumes eligible employment with an ERB employer.
- Retire from the ERB when the employee meets retirement eligibility requirements. (Minimum 5 years of service required)
- Refund/rollover the employee contributions. Employer contributions are not part of the member’s account and are not refundable to a member.
- Within 90 days of termination, submit request through NMSU Benefit Services:
- Docusign Authorized Employer Signer: Celeste Uzueta, Email: benefits@nmsu.edu
- PDF mail original document to Benefit Services, PO Box 30001, MSC 3HRS, Las Cruces, NM 88003. NMSU will mail signed original to NMERB.
- After 90 days of termination, submit request directly to NMERB https://www.erb.nm.gov/forms/.
- Once employee contributions are refunded, employee service credit is zeroed out.
- If the employee is re-hired with an NMERB employer, service credit begins at zero and membership is established under the tier in effect at the time of re-employment.
NMERB Request for Refund and/or Rollover: (Authorized Signer: Celeste Uzueta, benefits@nmsu.edu) https://na3.docusign.net/Member/PowerFormSigning.aspx?PowerFormId=db971eaf-df6d-4ce0-9498-edc37ccf5ff1&env=na3&acct=0e14fec9-b056-48b4-a3eb-14128b41db38&v=2.