New Mexico Administrative Code
Title 1 - GENERAL GOVERNMENT ADMINISTRATION
Chapter 6 - RISK MANAGEMENT
Part 3 - BUDGETING AND PAYMENT OF ASSESSMENTS FOR UNEMPLOYMENT COMPENSATION BENEFITS BY STATE AGENCIES AND LOCAL PRIVATE BODIES
Section 1.6.3.13 - APPLICATION TO ENTER LOCAL PUBLIC BODY UNEMPLOYMENT COMPENSATION RESERVE FUND
Universal Citation: 1 NM Admin Code 1.6.3.13
Current through Register Vol. 35, No. 18, September 24, 2024
A. The effective date of coverage for any local public body that enters the local public body unemployment compensation reserve fund shall be January 1.
B. A local public body must submit an application to RMD to participate in the fund no later than September 30 of the year prior to entering the fund.
C. Local public bodies shall submit the following information to RMD as part of the application:
(1) an application form
available on the RMD website;
(2)
acceptable proof that the entity is an eligible local public body as defined in
1.6.3.7
NMAC;
(3) the local public body's
unemployment claims data for the previous five years;
(4) a written agreement that the local public
body will stay in the local public body unemployment compensation reserve fund
for the next five consecutive years;
(5) information on current employment
statistics, employee salaries, and other similar information requested by the
risk management division; and
(6) a
written agreement to follow the obligations of local public body unemployment
compensation reserve fund membership shown in 1.6.3.14 NMAC.
D. RMD shall inform applicants of acceptance or rejection by December 1 of the year prior to entering the fund.
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