Current through Register Vol. 35, No. 24, December 23, 2024
Section 2.82.5.16 - RETURN TO WORK .25 FTE OR LESSA. A retired member may return to employment (includes "substitution") at a level of .25 FTE or less without affecting the retired member's retirement benefit provided the retired member submits a return to work application and is approved by ERB prior to commencing employment.B. In the event that a retired member enters into an agreement which provides for employment at a level greater than .25 FTE or actually works greater than .25 FTE becomes ineligible to receive retirement benefits. The retired member's retirement benefit will be suspended for the unauthorized period of the employment, and the retired member will be returned to an active status effective the first day of the month following the month in which the retired member's employment exceeded .25 FTE. The retired member shall pay the educational retirement fund a sum equal to all retirement benefits the retired member received while ineligible.C. If suspended, before the member's monthly retirement benefits can resume, the suspended retired member must certify to ERB and provide documentation from their employer(s) verifying that they have terminated all employment that would disqualify them from retirement under the Educational Retirement Act and must reapply for retirement.N.M. Admin. Code § 2.82.5.16
2.82.5.16 NMAC - N, 6-28-13, Adopted by New Mexico Register, Volume XXVI, Issue 11, June 16, 2015, eff. 6/16/2015, Amended by New Mexico Register, Volume 30, Issue 21, November 12, 2019, eff. 11/12/2019, Amended by New Mexico Register, Volume XXXI, Issue 13, July 14, 2020, eff. 7/14/2020, Adopted by New Mexico Register, Volume XXXV, Issue 12, June 25, 2024, eff. 7/1/2024