Notices and Events
NOTICE OF PROPOSED RULE CHANGES AND PUBLIC COMMENT PERIOD
Public comment period from November 15, 2016 to January 20, 2017.
A rulemaking hearing will be held during the Board’s February 17, 2017 board meeting in regards to the quorum and composition of NMERB’s Investment Committee. Written comments will be accepted until 5 p.m. January 20, 2017 and may be sent via e-mail to email@example.com. Oral comments will also be accepted at the February 17, 2017 Board meeting. The proposed changes to Rule 2.82.1 NMAC and Rule 2.82.8 NMAC are regarding the quorum and composition of NMERB’s Investment Committee. Please see the links below for the notice of rulemaking and the text of the proposed rules.
During the August 26, 2016 NMERB Board meeting, the Board passed changes to NMERB Rule 2 (22.214.171.124(B) NMAC) clarifying the aggregation of a member’s full time equivalency (FTE) with multiple employers. The change was published in the New Mexico Register and became effective on September 30, 2016. [LINK: to 2.82.2 NMAC pdf--- attached]”
2017 Proposed Legislation, New Mexico Educational Retirement Board
Technical and Clarifying Changes to Educational Retirement Act (SB 28)
NMERB is proposing legislation intended to provide technical and clarifying changes to the Educational Retirement Act. The proposed legislation deletes most references to “provisional members” from the Act. A statutory change in 1971, made the term “provisional member” meaningless for most employees. This bill will remove the references to “provisional members” that have become outdated.
The proposed legislation also changes the Act to conform to current NMERB practice in regards to applications for disability benefits. Instead of requiring disability benefit applicants to see a doctor hired by NMERB, a disability applicant would see their own personal medical provider then provide applicable medical records to NMERB which will make a decision of disability based on the records.
Finally, the proposed legislation eliminates or changes other miscellaneous outdated provisions in the Educational Retirement Act. For example, certain provisions govern retirees who returned to work between 1957 and 1963. These outdated provisions will be removed. For a more detailed look of the proposed changes, see the accompanying table of changes. This proposed legislation is Senate Bill 28 (SB 28) and is sponsored by Senator Gay Kernan.
Employment and Salaries of NMERB Investment Staff (SB 29)
In the 2017 legislative session NMERB is proposing legislation intended to give the Executive Director of NMERB the authority to appoint and control the salaries of various positions in NMERB’s Investment Division. The positions affected by this proposed legislation are the Chief Investment Officer, investment analysts and investment division supervisors. If enacted, this bill would allow the Executive Director to set salaries for these positions within budget allowances and appropriation limits. Currently NMERB must follow the state’s classified salary scale under the State Personnel Act or the Governor’s exempt salaries plan for these positions.
The proposed legislation introduces language in the Educational Retirement Act at section 22-11-7 to grant the Executive Director the above-mentioned authority. It also amends the State Personnel Act to exclude these NMERB positions from the classified service and the governor exempt salaries plan. This proposed legislation is Senate Bill 29 (SB 29) and is sponsored by Senator Stuart Ingle.
NMERB now accepts drivers licenses as proof of age for the Retirement Application Packet.
PUBLIC UPDATES (2016)
Teachers who stay reap the benefits (Albuqueque Journal article)--posted 12/27/16
Educational retirement fund on track to reach long-term funding goals--posted 12/27/16
Board Meeting Notices and Agendas
Investment Committee Meetng Public Meeting Notice--posted 1/12/17
Investment Committee Meeting Agenda--posted 1/12/17
Alternative Retirement Plan Public Meeting Notice--posted 1/4/17
Alternative Retirement Plan Meeting Agenda--posted 1/4/17
Board Of Trustees Meeting Agenda--posted 12/2/16
Investment Committee Meeting--posted 11/30/16
Public Meeting Notice--posted 11/30/16
Investments gain at New Mexico pension, permanent funds (AP Article)--posted 11/16/16
Audit Committee Meeting--posted 11/14/16
Investment Committee Meeting Agenda--posted 11/12/16
Educational retirement fund on track to reach long-term funding goals (Press Release)--posted 11/10/16
Public Meeting Notice (November)--posted 11/3/16
Flash Report from NEPC (June 2016) --posted 8/3/16
2016 Cost of Living Adjustment for Retirees --posted 8/3/16
NMERB Fiscal Year Investment Results (Press Release) --posted 8/1/16
NMERB Transparency Policy--posted 6/27/16
GASB Letter to the Editor - posted 1/11/16