New Mexico Administrative Code
Title 2 - PUBLIC FINANCE
Chapter 82 - EDUCATIONAL RETIREMENT
Part 12 - QUALIFIED EXCESS BENEFIT ARRANGEMENT
Section 2.82.12.8 - ELIGIBILITY
Current through Register Vol. 35, No. 18, September 24, 2024
A member shall be considered eligible for Excess Benefits if the following conditions are met:
A. He or she shall have been hired before July 1, 1999.
B. He or she shall have elected (i) the retirement benefit as provided in Section 22-11-30 or an optional benefit pursuant to Section 22-11-29, or (ii) a disability benefit pursuant to Section 22-11-37.
C. He or she shall not have commenced receiving retirement or disability benefits as of July 1, 1999.
D. The amount of his or her retirement benefit or disability is limited by the application of section 415(b) of the Internal Revenue Code.
E. He or she shall not have elected to participate in an alternative retirement plan established pursuant to Section 22-11-47.
