§ 5-7. Retirement Plan

Latest version.

Retirement

Any employee who qualifies as mandatory under PERA guidelines, except the City Manager who has the option of joining the ICMA 401 Plan in lieu of PERA, participates in the Public Employees Retirement Association of New Mexico (PERA).

Enrollment and benefit forms are provided by the Human Resource's Office. It is the employee's individual responsibility to keep information related to their retirement account as to name, address, and beneficiary up to date.

Retiree Health Care

As part of the City's participation in PERA, eligible employees participate in the New Mexico Retiree Health Care Authority. This participation provides the benefit of health insurance to PERA retirees.

Detailed information on specific retirement benefits is available at www.nmpera.org for PERA and at www.nmrhca.org for Retiree Health Care Authority.

(Ord. No. 1547 , 1-19-18)

                    
                        var val = document.getElementById('citecontent').innerHTML;
                        art.dialog.defaults.title = window.location.href;
                        art.dialog.data('cite', val);
                        art.dialog.data('homeDemoPath', '/Scripts/plus/artDialog/');
                        art.dialog.open('/Scripts/plus/artDialog/citeiframe.html');