Section 10-11-133.1 – Disclosure of third-party marketers; penalty.
A. The retirement board shall not make any investment, other than investments in publicly traded equities or publicly traded fixed-income securities, unless the recipient of the investment discloses the identity of any third-party marketer who rendered services on behalf of the recipient in obtaining the investment and also discloses the amount of any fee, commission […]
Section 10-11-134 – Survivor benefit fund; disposition.
A. The pensions being paid from the survivor benefit fund on June 30, 1987 shall thereafter be paid from the retirement reserve fund. B. The actuarial present value of pensions being paid from the survivor benefit fund on June 30, 1987 shall be transferred from the survivor benefit fund to the retirement reserve fund. C. […]
Section 10-11-135 – Funds not subject to process.
Except as provided in Sections 10-11-136 and 10-11-136.1 NMSA 1978, none of the money, pensions or other benefits mentioned in the Public Employees Retirement Act shall be assignable either in law or in equity or be subject to execution, levy, attachment, garnishment or other legal process. History: Laws 1987, ch. 253, § 135; 1989, ch. […]
Section 10-11-136 – Division of funds as community property.
A court of competent jurisdiction, solely for the purposes of effecting a division of community property in a divorce or legal separation proceeding, may provide by appropriate order for a determination and division of a community interest in the pensions or other benefits provided for in the Public Employees Retirement Act. In so doing, the […]
Section 10-11-136.1 – Legal process to satisfy child support obligations.
A court of competent jurisdiction, solely for the purposes of enforcing current or delinquent child support obligations, may provide by appropriate order for withholding amounts due in satisfaction of current or delinquent child support obligations from the pensions or other benefits provided for in the Public Employees Retirement Act and for payment of such amounts […]
Section 10-11-137 – Insurance and banking laws not applicable.
None of the laws of this state regulating insurance or insurance companies or banking institutions shall apply to the association. History: Laws 1987, ch. 253, § 137. ANNOTATIONS Cross references. — For exemption from legal process for Public Employees Retirement Act benefits, see 10-11-135 NMSA 1978. For exemption from legal process for Judicial Retirement Act […]
Section 10-11-128 – Income fund.
The income fund is the fund to which shall be credited all interest, dividends, rents and other income from investments of the association, all gifts and bequests, all unclaimed member contributions and all other money the disposition of which is not specifically provided for in the Public Employees Retirement Act. There shall be paid or […]
Section 10-11-129 – Distribution of income fund.
The association shall at least annually distribute all or a portion of the balance in the income fund to the member contribution fund, the retirement reserve fund and the employer accumulation fund. Distribution rates shall be determined by the retirement board and may vary by fund. History: Laws 1987, ch. 253, § 129.
Section 10-11-129.1 – Legislative retirement fund.
The “legislative retirement fund” is created in the state treasury. The fund shall consist of money distributed, transferred or otherwise accruing to the fund. Money in the fund may be appropriated by the legislature to finance state legislator member coverage plan 2 pursuant to the Public Employees Retirement Act. Income from investment of the fund […]
Section 10-11-130 – Retirement board; authority; membership.
A. The “retirement board” is created and is the trustee of the association and the funds created by the state retirement system acts and has all the powers necessary or convenient to carry out and effectuate the purposes and provisions of the state retirement system acts, including, in addition to any specific powers provided for […]