Retirement News

Retirement Manager Class

How to Get Started in UNM's Voluntary Retirement Savings Plans

Effective July 1, the 1.75% retirement swap will reverse.  This is a great opportunity to invest in yourself by saving the money in a 403b account.   A 403b account is a supplemental retirement account where you control how your money is invested.  As a pre-tax supplementary plan, a 403b account is instrumental in preparing for retirement. Studies show most individuals will need additional retirement income to maintain their lifestyle.

Even though you may have missed the 403b vendor enrollment sessions, there are still opportunities to invest in yourself. Read on to learn about course offerings.

- 05.09.2012 -
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Invest in Your Future

403b Enrollment Sessions

Effective July 1, the 1.75% retirement swap will reverse.  This is a great opportunity to invest in yourself by saving the money in a 403b account.   A 403b account is a supplemental retirement account where you have control of how your money is invested.  As a pre-tax supplemental retirement plan, a 403b account is instrumental in preparing for retirement.  Although we have mandatory retirement plans in place, estimates show that most individuals will need supplemental retirement income to maintain their lifestyle. Read the full article for more information on how to invest in your future.

- 04.20.2012 -
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Retirement Representatives on Campus

TIAA-CREF, Fidelity, VALIC, MetLife, and ING

Representatives from TIAA-CREF, Fidelity, VALIC, MetLife, and ING will be on campus to meet with staff and faculty who would like more information about 403(b), 457(b), and/or ARP plans offered through UNM.  Remember, an employee does not need to be benefits-eligible to participate in a supplemental retirement plan.  For more information on which vendors offer what services and appointment availability, read the full article.

- Updated 04.10.2012 -
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Rule Revision Comment Period

Educational Retirement Board (ERB)

The Educational Retirement Board (ERB) is asking for comments on revisions to two draft rules.  ERB Rule 2 addresses membership in the Educational Retirement Fund, and ERB Rule 3 addresses member and local administrative unit contributions.  The proposals for both rules can be found at http://nmerb.org/.  

The ERB looks forward to receiving your comments on the revised Rule 2 and Rule 3.  For Rule 2, comments should be emailed to Rulechange2@nmerb.org.  Rule 3 comments should be emailed to Rulechange3@nmerb.org.  All comments are due by close of business on February 13, 2012.   

- 01.24.2012 -
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Fall 2011 Staff as Student

November 16, 2011

All UNM benefits-eligible employees are invited to attend Staff as Students on Wednesday, November 16 from 11:30 am - 1:30 pm in the SUB Ballroom C. Representatives from Admissions, Bursar, Registrar, Human Resources, and most Colleges/Schools will be on hand to answer questions. Employees will be able to apply for admission, receive advisement, register for classes, and turn in their tuition remission form all at one convenient location.  For more information, please see Staff Council’s flyer.

- 11.08.2011 -
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2012 65+ Retiree Open Enrollment for Medicare Advantage and Supplement Plans

November 7 - November 28

The 2012 65+ Retiree Open Enrollment is Monday, November 7, 2011 through Monday, November 28, 2011. During this time, 65+ UNM Retirees and/or their 65+ dependents are eligible to make changes to their UNM Retiree Medical and Dental coverage. All Open Enrollment forms and application materials need to be submitted to the HR Service Center by November 28, 2011.  The 2012 Medicare Open Enrollment booklet is available and a packet has been mailed to all qualified retirees home addresses.  For more information, please read the full article.

- 11.07.2011 -
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ERB Proposed Plan Changes for 2012

Listening Tour

The Educational Retirement Board (ERB) Board members and Director Jan Goodwin will present options for plan design changes. At the meetings, employees will be able to provide feedback on the options presented. 

- 11.01.2011 -
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Carrier Changes - Alternative Retirement Plan

Action Required for VALIC Participants

Additional information has been provided by the Educational Retirement Board (ERB) regarding changes to the Alternative Retirement Plan (ARP) vendors.  TIAA-CREF and Fidelity have provided information about their services, and UNM Payroll has included a link to the form they require to switch a participant’s carriers.  If you are currently with VALIC as an ARP Participant, action is required.  For more information, please read the full article.   

- Updated 10.27.2011 -
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Alternative Retirement Plan (ARP) Changes

New Service Providers

The Educational Retirement Board (ERB) has prepared a communication regarding changes to the Alternative Retirement Plan (ARP). They have selected TIAA-CREF and Fidelity as their ARP service providers.  Current TIAA-CREF participants are not required to make any changes.  VALIC will be phased out as an ARP service provider effective December 15, 2011.  For more information, please read the ERB's communication.

If you have any questions, please contact the ERB at (505) 827-8030.

- 08.02.2011 -
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House Bill 129

Return-to-Work Retirees

Effective July 1, 2011, ERB retirees (including ARP members) who have returned to work after the 12 month layout will be required to pay into the ERA fund.  The required percentage contribution will be the same as regular employees.  Payments are pre-tax, but they are nonrefundable and the retired member is not entitled to acquire service credit for the period of reemployment.  House Bill 129 does not apply to .25 FTE working retirees or PERA retirees who work at UNM.

For more information, please refer to House Bill 129.

- 06.07.2011 -
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Future Retirees

Important Open Enrollment Information

Employees retiring after July 1, 2016 must be enrolled in UNM medical and/or dental insurance for five consecutive years, immediately preceding retirement, to be eligible to participate in UNM’s retiree medical and/or dental plan. If you intend to retire on July 1, 2016, it is important that you enroll in UNM benefits during this year’s Open Enrollment in order to meet the five year qualification requirement. Other policy provisions remain in effect. To learn more, please read the full article.  

- 05.02.2011 -
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Open Enrollment Plan Year 2011-2012

April 27 - May 11

Open Enrollment for medical, dental, vision, and accidental death and dismemberment plans for the 2011/2012 plan year will be from April 27, 2011 through May 11, 2011. Open Enrollment is your opportunity to enroll in, cancel, or make changes to your insurance plans without experiencing a Qualifying Change of Status event.  Changes made during open enrollment are effective July 1, 2011.  Active employees must make all changes during this time period using LoboWeb, which can be accessed 24 hours a day, 7 days a week by logging on to https://my.unm.edu. To learn more, please read the full article.

- 04.27.2011 -
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Retiree Health Care Task Force Report and Recommendations

In the Spring of 2010, a Retiree Health Care Task Force comprised of a broad representation from the University community, including faculty, staff, retirees, and administrators, was convened to evaluate UNM’s early retiree medical plan benefit, and propose alternative approaches, in an effort to ensure that UNM’s unfunded retiree health care liability and Annual Required Contribution will not increase in the future.  To read the report and recommendations from this task force, please read the full article.

- 03.25.2011 -
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Educational Retirement Board Contributions

Attention On-Call & Temporary UNM Employees

State statute and University policy for Educational Retirement Board (ERB) contributions state that employees who work .25 FTE or less are excluded from participation in the system.  The specific exclusion of temporary/on-call staff and temporary faculty from participation in the Educational Retirement Board system until they exceed a .25 FTE in a fiscal year was identified by the President’s Strategic Advisory Team as a cost containment strategy.  Read the full article to learn more.  

- 06.22.2010 -
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Retirement Manager - Transition Complete

Transition Complete

Retirement Manager is now available for UNM employees. Whether you already have a 403b and/or 457b, or if you would like to learn more about setting one up, please visit the Retirement Manager website.

All employees who currently have a 403b and/or 457b, please review your account information in Retirement Manager. For specific vendor information regarding year-to-date (YTD) contributions and the link to Retirement Manager, please read the full article.

- 12.18.09 -
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Clarification on Senate Bill 572

Applies to Employees Switching from the ARP Defined Contribution Plan to the ERB Regular Defined Benefit Plan

At its September 11, 2009 meeting, the ERB took action to clarify the ARP legislation recently enacted as SB 572. Senate Bill 572 provides that any participant who has made contributions to the Alternative Retirement Plan (ARP) for a cumulative total of seven years or more, will have a one-time option of electing to switch to the ERB regular defined benefit plan. Action taken at the ERB's September 11 meeting allows ARP service to be counted toward satisfying the current ERB regular defined benefit plan "25 Year/Rule of 75" retirement requirements. For more information, including an example, please read the full article.

- 09.16.09 -
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Alternative Retirement Plan

New ERB Information Sheet

During the last legislative session, the Legislature enacted a number of changes to the Alternative Retirement Plan (ARP). One of the changes allows participants, who have made contributions to the ARP for seven (7) years or more, 120 days to make a one-time election to become a member of the Educational Retirement Board's (ERB) regular defined-benefit retirement plan. Click here to read the information sheet prepared by the ERB. For additional information, please read the full article.

- 10.26.09 -
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House Bill 854

ERB Contributions

A bill of great interest to UNM Staff and Faculty has been approved by the Legislature. House Bill 854 (HB 854) increases employees' contributions to state pension funds by 1.5 percent of gross salary and decreases the employer's contribution by a corresponding amount. It applies to employees making more than $20,000 per year for the period July 1, 2009 to June 30, 2011. This bill covers all state agency, public school, and higher education employees including those in Alternative Retirement Plans. Please read the full article for more information.

- 03.20.09 -
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