N.M. Admin. Code § 2.20.4.8
Current through Register Vol. 36, No. 1, January 14, 2025
Section 2.20.4.8 - PERMITTED PAYROLL DEDUCTIONSA. Payroll deduction codes shall be allowed for the following purposes: (1) those required by law (state and federal taxes, FICA);(2) state-sponsored and required insurance programs where the state shares the cost of the program;(3) PERA, ERB or other state-sponsored retirement programs mandated by statute;(4) deferred compensation programs under Chapter 10, Article 7A NMSA 1978;(5) union dues as permitted by state personnel board rules and regulations;(6) all financial institutions approved by the department of finance and administration;(7) charities approved by the department of finance and administration;(8) qualified employee benefit programs approved by risk management;(9) vanpool associations approved by the department of finance and administration;(10) savings bond programs;(11) exceptional or emergency circumstances which require special consideration and are approved by the department of finance and administration on a case-by-case basis.B. In order to pay for the ongoing administrative costs of administrating payroll deductions for qualified employee benefit programs, the department of finance and administration shall retain three percent from the total deductions made for each qualified employee benefit program under a payroll deduction code each pay period. In order to offset the costs to risk management of evaluating programs of vendors applying for payroll deduction codes, the department of finance and administration shall charge an application fee of five hundred dollars ($500) to each vendor proposing a program, which fee shall be forwarded to the risk management division of the general services department.C. Employee benefit programs which had payroll deduction codes prior to the adoption of this rule may not enroll additional state employees unless they fully comply with this rule.N.M. Admin. Code § 2.20.4.8