Are you new to UNM and deciding between the ERB and ARP retirement plans? An experienced UNM employee thinking about your long-term plan? Or wondering about the criteria and process for retirement? Check out three new interactive slideshows that provide a comprehensive overview of retiring with UNM under the two different retirement plans.
Module 1 helps distinguish between the New Mexico Educational Retirement Board (ERB) defined benefit plan and the UNM Alternative Retirement Plan (ARP) defined contribution plan. Eligibility rules are presented, including options for disability retirement. The application process is provided, including an introduction to retiree benefits.
Module 2 presents benefits offered to UNM employees who retire from UNM under the ERB or ARP retirement plans. Policies and procedures for obtaining Post-Retirement medical and dental benefits are provided for eligible employees, along with information about continuing and terminating employee benefits. Retirement benefits for VEBA participants and non-VEBA participants are differentiated, as are benefits for pre-65 versus 65+ retirees and dependents.
Module 3 explains how benefit premium costs for UNM retirees and dependents are calculated, including UNM’s portion and the retiree’s portion of medical and dental benefits (if VEBA-eligible). Examples of medical and dental cost calculations are provided for VEBA-eligible retirees.
Contacts and resources for retirement questions are included at the end of each module. To access the new Retirement Overview Modules online, visit the Retirement Classes webpage or enroll in RET 101 through Learning Central.