Retirement & Early Retirement

Retirement

The City is a member of Public Employees Retirement Association of New Mexico (PERA). Employee participation is mandatory for those who qualify.

The City contributes the requisite employer contribution in addition to 75 percent of the employee's contribution. The factor of salary varies according to which PERA plan the member is enrolled. Vesting occurs with five years of credited service.

Early Retirement

Employees may be eligible to retire early by using their sick leave and vacation just prior to their PERA retirement dates. Contact the Insurance and Benefits Office for additional information.

Every other month the Insurance & Benefits Division of Human Resources holds a half-day Retirement Seminar for employees considering retirement within the next three years. Presenters include representatives from:

• PERA
• Social Security Administration
• NM Retiree Health Care Authority
• Retired Public Employees of New Mexico
• Insurance & Benefits Division of HR
• Rio Grande Credit Union
• Deferred Compensation