Thinking About Retirement?

It is never too early to start planning for your retirement. Familiarize yourself with the your retirement plan details, monitor legislative changes, and stay in touch with ERB. We are here to assist you. ERB sponsors frequent retirement seminars throughout New Mexico to help you make informed decisions about your retirement. Check the ERB website www.nmerb.org for the schedule of upcoming seminars and to register online to view your account data.


ERB members periodically receive account statements and other correspondence. If you are still employed by an ERB employer, your annual statement is sent to your employer. If you are retired or no longer work for an ERB employer, ERB mails an annual statement to the address on file for your account. It is very important to keep the address on your ERB account current. Please review the annual statement carefully and bring any disputed information to the attention of an ERB benefit specialist and your employer’s payroll department.


We suggest you contact ERB two years before your planned retirement date to ensure you have received credit for all ERB earned service credit as well as military, federal, or out-of-state credits to which you are entitled. One year before your planned retirement date, be sure you can document your date of birth as well as your beneficiary’s date of birth if you plan to select Option B or C. Birth certificates, passports or baptismal certificates are acceptable documentation. You may also want to provide an ERB benefit specialist with specific information about your planned retirement date, your current salary, and your beneficiary’s birth date (if applicable) to receive an estimate of your benefit payment. You may use the online benefits calculator at www.nmerb.org for an unofficial estimate.


Six months before your planned retirement date, request a Retirement Application form from your personnel office or download one from ERB’s website. You complete Section 1 and your employer completes Section 2. Forward the application to ERB prior to the last day of the month prior to your retirement to ensure the effective retirement date. For members considering retirement If you have not been employed by an ERB employer for six months or more when you apply for your retirement benefits, you may send your Retirement Application directly to ERB (complete only page 1). ERB should receive the application six months prior to your planned retirement date.

For Retirees Only
Obviously, your relationship with ERB does not end when your career as an educator comes to a close. In addition to a monthly
benefit payment for the rest of your life, you will receive timely communications, such as the annual statement for your account and a Form 1099 for income tax reporting purposes. Please review both documents carefully. Your annual statement and Form 1099 are mailed to the home address we have on file for your account, so it is important to keep your contact information up to date.

 


In Conclusion

We encourage both active and inactive members to utilize the ERB website at www.nmerb.org. You can review your personal account information at MyNMERB, keep up with legislative changes to the ERA, download important forms, access ERB publications, and access ERB financial reports and investment policies.


We also welcome your phone calls and visits to our offices where the professional staff is happy to assist you. On behalf of the Educational Retirement Board, thank you for your service to New Mexico’s educational institutions and, most importantly, to the students of New Mexico.

Contact the ERB:

ERB-memberhelp@state.nm.us

Santa Fe (505) 827-8030

Albuquerque (505) 888-1560

Toll-Free 1 (866) 691-2345