Rule Administrator: AVP Human Resource Services

PART 1: PURPOSE To clarify retirement benefits offered and/or required of university employees by the New Mexico Educational Retirement Board (NMERB).   PART 2: RULE ADMINISTRATOR The Office of Human Resource Services administers this Rule, consistent with the New Mexico Retirement Act, and guidance from the NMERB.   PART 3: DEFINITIONS (See Also ARP 6.15,…
Continue reading “8.12 – Retirement, Educational (ERB)” »

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…
Continue reading “8.13 – Deferred Compensation (457 Program)” »

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…
Continue reading “8.14 – Flexible Spending Account” »

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…
Continue reading “8.15 – Pre-Tax Premium Plan” »

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…
Continue reading “8.16 – Tax Sheltered Annuities” »

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.)

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…
Continue reading “8.21 – Group Medical Insurance” »

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…
Continue reading “8.22 – Group Dental Plan” »

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…
Continue reading “8.23 – Group Term Life 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…
Continue reading “8.24 – Group Long-Term Disability Insurance” »