New Mexico Administrative Code
Title 2 - PUBLIC FINANCE
Chapter 84 - MAGISTRATE RETIREMENT
Part 200 - ADMINISTRATION
Section 2.84.200.20 - EXPENSES OF ADMINISTRATION
Current through Register Vol. 35, No. 18, September 24, 2024
Expenses related to the investment of the magistrate retirement fund and administration of the Magistrate Retirement Act shall be paid from the fund. Such expenses shall include:
A. the cost of annual and special actuarial valuations necessary to determine the contribution rate required to support plan benefits in accordance with the plan's funding objectives; special actuarial valuations may also be necessary to measure the impact of proposed legislation;
B. the cost of an annual independent audit of the fund's financial statements;
C. the cost of investment management services as determined by the board;
D. the cost of administration of benefit provisions in the same proportion as the proportion of MRA members to members of the association; and
E. Any other expenses associated with the administration of the fund as determined by the board.
