Membership

Membership in the ERB plan is a condition of employment. You automatically become a member of the ERB plan when you begin
employment with any entity covered by the ERA. Employees covered under the ERB plan are referred to as “members” and employers are referred to as “local administrative units.” In this handbook, they are also referred to as “ERB employers.” As a member, contributions toward your retirement are deducted from your earnings each pay period. After five years of service you will become vested in the plan. As an ERB vested member you will receive a certain payout at retirement, according to a fixed formula dependent on your salary and years of employment. You must complete an ERB Beneficiary Designation Form 42 before a notary and return it to the ERB to ensure that a beneficiary is designated for your employee contributions. The ERB Annual Report, available on the ERB website, includes a list of all participating employers. Links to the ERA and regulations followed by the ERB can be found at www.nmerb.org under the tab “Educational Retirement Act” at the top of the home page. If you are a substitute teacher, intern, student teacher, or work 25% or less than a full time equivalent (FTE) position, you are not eligible to
participate in the ERB plan. Individuals who work more than 25% of a FTE for the following entities are covered by the ERB’s retirement plans:



Public schools (including public charter schools, ie: chartered by the local school board or the NM Secretary of Public Education)

Universities
Junior and community colleges
Public technical and vocational institutions
New Mexico School for the Deaf
New Mexico School for the Visually Handicapped
Regional education cooperatives
New Mexico Activities Association
Certain employees at state agencies that provide an educational program (i.e., Department of Corrections, Public Education Department, Department of Health, Division of Vocational Rehabilitation, Educational Retirement Board). This applies only if the employee filling a position is required to be a certified educator. Other employees at these agencies participate in the Public Employees Retirement Association (PERA) plan.

The ERB Annual Report includes a list of all participating employers.