New Mexico Administrative Code
Title 2 - PUBLIC FINANCE
Chapter 80 - PUBLIC EMPLOYEES RETIREMENT
Part 1900 - PUBLIC EMPLOYERS
Section 2.80.1900.8 - GENERAL PROVISIONS
Universal Citation: 2 NM Admin Code 2.80.1900.8
Current through Register Vol. 35, No. 18, September 24, 2024
A. Any public employer that seeks to become an affiliated public employer shall provide the association with the following information for review:
(1) a certified copy of the resolution or
ordinance adopted by the public employer pursuant to NMSA 1978, Section
10-11-122(B); and
(2) if the public
employer is a local public body subject to the jurisdiction of the local
government division of the New Mexico department of finance and administration,
written certification by the local government division that the public employer
has the approved budget sufficient to pay the contributions required upon
affiliation with PERA; and
(3) such
written information as the association may request to establish that the
employer seeking to affiliate qualifies as one of the entities specifically
listed in the definition of "public employer" contained in NMSA 1978, Section
10-11-2(P); and
(4) such
information as is required by the association to make a good faith
determination that the public employer meets the definition of a "governmental
plan" as that term is used in Section 414(d) of the Internal Revenue Code of
1986, as amended, including but not limited to the following:
(a) a fully completed affiliated public
employer questionnaire, in a form prescribed by the association, containing
information pertinent to determining the employer's qualified plan status;
and
(b) any supplementary
information requested by the association to clarify, supplement, explain, or
correct the information contained in the completed questionnaire;
(5) in the event that the
association determines that the information provided by the employer in the
questionnaire, or in any supplementary submission, is in any way unclear or
insufficient to permit the association to make a good faith determination that
the employer meets the governmental plan definition, the association may
request that the employer seek a ruling from the internal revenue service to
confirm that the employer meets such definition.
B. The employer shall not be deemed to have satisfied the information requirements of this part until so notified in writing by the association.
C. The association shall notify the public employer in writing whether the employer has met the requirements for affiliation and the effective date of affiliation. No later than thirty days after the effective date of affiliation, the public employer shall file the following information with the association:
(1) a list of all employees on its payroll
and an indication whether each employee on the list is a member of the
association or intends to be exempt from membership; and
(2) a written application for exemption, in a
form prescribed by the association, for each elected official and employee who
intends to be exempt from membership in the association pursuant to NMSA 1978,
Section 10-11-3(B); and
(3) a
written application for membership, in a form prescribed by the association,
for each employee who is required to be a member of the association pursuant to
NMSA 1978, Section 10-11-3(A).
Disclaimer: These regulations may not be the most recent version. New Mexico may have more current or accurate information. We make no warranties or guarantees about the accuracy, completeness, or adequacy of the information contained on this site or the information linked to on the state site. Please check official sources.
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