Preparing for Retirement

When you get your Member Annual Statement, check your total years of service for accuracy. If you think something is inaccurate, please contact ERB for a Contribution History Report. This report is more detailed and will show your wages and service credit by quarter. (If you think your wages are inaccurate,  you'll need to contact your payroll department for clarification.) You can call ERB at 1-866-691-2345 or send and email to ERB-memberhelp@state.nm.us.


One year before becoming eligible for retirement, you may request an audited estimate of your retirement benefits. To request the estimate, you'll need to provide ERB with your projected retirement date, your current annual salary if you have received a pay increase, and the birthday of your beneficiary if you want an estimate for Options B and C. If you are not within one year of becoming eligible for retirement, you can log into your ERB account and use the benefit estimator.

 

Retirement Application

You should submit the retirement application 60-90 days before your retirement date. Your retirement date is the first day of the month following your last date of employment or whenever ERB receives the retirement application, whichever comes later. For example, if you terminate employment on December 20 and ERB has received your application, you will be a January 1 retiree. The only exception to this rule is for those on a 9 or 10 month contract who choose to terminate employment in May, are automatically considered a July 1 retiree.

Retirement applications are available from your employer or from the ERB Download Forms link. The application must be completed by you and your employer and is typically mailed by your employer to the Educational Retirement Board. If you have not been employed within 90 days of the time you're applying for retirement, you only need to complete page one of the application and can mail it directly to the Educational Retirement Board.

Proof of Age

You will need to provide proof of age along with the retirement application. Acceptable proof of age verifications include a birth certificate, baptismal certificate, passport and more - see retirement application instructions. If you want an estimate of Options B and C in your final retirement packet, you'll need to also provide proof of age for your beneficiary.

For more information please see the ERB Member Handbook or email ERB-memberhelp@state.nm.us.