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New Mexico State University

NMSU Incentive Retirement Program

The following documents outline the NMSU Incentive Retirement Program guidelines, including eligibility, deadlines and documentation requirements. Please note that all deadlines are firm because of the anticipated high volume of requests to retire.

If you have questions regarding your eligibility to participate in relation to meeting the Educational Retirement Account rules, please contact the Employee Benefits Office at 646-1741 or e-mail benefits@nmsu.edu. If you have questions regarding meeting the funding source criteria, please direct your questions to your Dean, Vice President or Vice Provost, or you may contact Tammy Anthony in the Budget Office at 646-1466 or e-mail at tanthony@nmsu.edu.

Incentive:

A one time cash incentive payment will be made to the employee no later than June 30, 2006 as follows:

  • Regular faculty and staff will receive a cash incentive equal to 3 months of their base salary.
  • Incentive pay may have tax consequences.
  • Incentive pay is not included in the reportable earnings to the Educational Retirement Board (ERB).

Eligibility:

  1. All regular NMSU employees with at least 5 years of continuous service and eligible to retire under the Educational Retirement Account (ERA) Rules by July 1, 2006 (including participants with the New Mexico Alternative Retirement Program).
  2. Employees must be holding positions funded from I&G or regular recurring sources in order to participate. Note: Due to the potential high volume of requests, all deadlines are firm.

Employees with Retirement Paperwork Completed as of October 17, 2005:

Regular employees who meet the eligibility requirements stated above and who have completed retirement paperwork as of October 17, 2005 will be eligible to participate in the program with a retirement date prior to July 1, 2006. An Incentive Retirement Program Form must be completed and submitted to the Employee Benefits Office no later than the last day of employment or November 15, 2005, whichever is earlier.

Deadlines and Documentation Requirements

Request for Educational Retirement Account Retirement Estimate Form

PROGRAMA DE INCENTIVE DE RETIRO DE NMSU (Información para Empleados)

NM Educational Retirement Account Rules for Retirement

NMSU Retiree Information Web Page

Questions Regarding This Program:

If you have any questions regarding this program, please contact Employee Benefits at benefits@nmsu.edu or 646-1741. The Employee Benefits Office is located in Hadley Hall, room 17.

October 18, 2005