Rule Administrator: AVP Human Resource Services

8.12 – Retirement, Educational (ERB)

PART 1: PURPOSE To clarify retirement benefits offered and/or required of university employees by the New Mexico Educational Retirement Board (NM ERB).   PART 2: RULE ADMINISTRATOR The Office of Human Resource Services administers this Rule, consistent with the New Mexico Retirement Act, and guidance from the NM ERB.   PART 3: DEFINITIONS (See Also…
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8.13 – Deferred Compensation (457 Program)

PART 1: ELIGIBILITY TO PARTICIPATE This Rule authorizes eligible employees to elect participation in the university’s voluntary deferred compensation program. All employees are eligible to exclude a portion of their salary, within IRS prescribed limits, from their current taxable income and invest those contributions in a university approved deferred compensation plan.   PART 2: PAYROLL…
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8.14 – Flexible Spending Account

PART 1: DESCRIPTION OF FLEXIBLE SPENDING ACCOUNT Flexible Spending Accounts allow employees to set aside dollars from their paycheck on a pre-tax basis in order to be reimbursed for out-of-pocket health care and child care expenses for themselves and their eligible dependents as defined by IRS codes.   PART 2: ELIGIBILITY AND DEADLINE TO ENROLL…
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8.15 – Pre-Tax Premium Plan

The Pre-Tax Premium Plan allows employees enrolled in the university’s health and dental insurance programs to decrease their taxable income by the amount of the employee portion of premiums.  This plan is subject to guidelines set forth by the United States Internal Revenue Service.  Employees must either enroll in or waive coverage within their first…
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8.16 – Tax Sheltered Annuities

The university provides voluntary tax sheltered annuities. This program allows all employees to exclude a portion of their salary, within certain limits, from their current taxable income by electing to have their employer invest an amount in retirement annuities. No employer contributions are made to the plan. The program is in addition to the New…
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8.17 – United States Savings Bonds

A regular employee may participate in the savings bond payroll deduction program.  Enrollment is optional and forms must be completed and returned to the Office of Human Resource Services.  (See the Office of Human Resource Services for more information.)

8.21 – Group Medical Insurance

PART 1: ELIGIBILITY The university offers group medical insurance for all eligible employees. Effective July 1, 2016, eligible employees are defined as those employees working at least .75 FTE in a regular, nine-month, or term appointment position. Optional dependent coverage is also available to eligible employees. Nine -month regular employees will receive full benefits, except…
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8.22 – Group Dental Plan

PART 1: ELIGIBILITY The university offers group dental insurance for all eligible employees.  Effective July 1, 2016, eligible employees are defined as those employees working at least .75 FTE in a regular, nine-month, or term appointment position.  Optional dependent coverage is also available to eligible employees.  Nine -month regular employees will receive full benefits, except…
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8.23 – Group Term Life Insurance

PART 1: ELIGIBILITY The university offers group life insurance for all eligible employees.  Effective July 1, 2016, eligible employees are defined as those employees working at least .75 FTE in a regular, nine-month, or term appointment position.  Nine -month regular employees will receive full benefits, except for unemployment compensation, during the off employment period provided…
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8.24 – Group Long-Term Disability Insurance

PART 1: ELIGIBILITY The university offers group long-term disability insurance for all eligible employees.  Effective July 1, 2016, eligible employees are defined as those employees working at least .75 FTE in a regular, nine-month, or term appointment position.  Nine-month regular employees will receive full benefits, except for unemployment compensation, during the off employment period provided…
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