New Mexico Administrative Code
Title 2 - PUBLIC FINANCE
Chapter 80 - PUBLIC EMPLOYEES RETIREMENT
Part 1600 - DETERMINATION OF COMMUNITY INTEREST AND DIVISION OF RETIREMENT PENSIONS/CONTRIBUTIONS AT DIVORCE
Section 2.80.1600.30 - FORM OF PAYMENT

Universal Citation: 2 NM Admin Code 2.80.1600.30

Current through Register Vol. 35, No. 18, September 24, 2024

A. When a retired member who has chosen either form of payment B or C with the retired member's spouse as the named survivor beneficiary is divorced, the retired member may either:

1) make no change in the form of payment and beneficiary; or

2) change the form of payment to form of payment A, which does not provide for a survivor beneficiary, if an appropriate court order so provides.

B. If the retired member elects to change from form of payment B or C to A, permission to make such an election must be included in a court order. PERA shall not be obligated to administer a change in form of payment in accordance with such an order until the first of the month following written approval by the office of general counsel.

C. A court order requiring an election of a particular form of payment at retirement shall be addressed to the non-retired member, and the member shall be responsible for executing the proper PERA forms and providing the documentation necessary to effectuate the election. A member who violates such an order may be in contempt of court.

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