State Public Pensions in New Mexico

State Public Pensions in New Mexico: key facts

Systems

Public Employees Retirement Association (PERA) for state and local government employees; Educational Retirement Board (NMERB) for public educators.

Active PERA member death

The survivor beneficiary designation takes effect once the member is vested, or if the member dies from duty-related causes before vesting; it pays a monthly lifetime pension to the designated survivor beneficiary (amounts differ for duty-related and non-duty-related deaths). A member who dies before vesting from a non-duty-related cause has their member contributions plus interest paid in a lump sum to the designated refund beneficiary, or to the estate if no refund beneficiary was named.

Retiree death

Continuing benefits depend on the option elected at retirement. NMERB Option A (straight life) ends payments at death; Option B continues a 100% survivor benefit and Option C a 50% survivor benefit to the designated beneficiary for life. NMERB also pays survivors of a retired member a one-time lump-sum death benefit based on the retiree's years of service.

Reporting a death

PERA: report online through PERA's death notification form, by telephone at 866-678-0670, by mail, or in person; PERA then audits the account for benefits payable to the survivor beneficiary or the estate. NMERB: call 1-866-691-2345, write to PO Box 26129, Santa Fe, NM 87502-6129, or report in person, then send a copy of the death certificate.

Contacts

PERA: 1-866-678-0670 (toll-free) or (505) 542-6220. NMERB: 1-866-691-2345 for death reporting; general call center 505-585-3510 or 1-800-663-1919.