TITLE 2 PUBLIC
FINANCE
CHAPTER 83 JUDICIAL
RETIREMENT
PART 200 ADMINISTRATION
2.83.200.1 ISSUING
AGENCY: Public Employees Retirement
Association, P. O. Box 2123, Santa Fe, New Mexico 87504-2123
[10-15-97; 2.83.200.1 NMAC -
Rn, 2 NMAC 83.200.1, 12-28-00]
2.83.200.2 SCOPE: This rule
affects the members, former members, retirees, beneficiaries, public employers,
retirement board, and the association under the Judicial Retirement Act.
[10-15-97; 2.83.200.2 NMAC -
Rn, 2 NMAC 83.200.2, 12-28-00]
2.83.200.3 STATUTORY
AUTHORITY: This rule is authorized by NMSA 1978, Section
10-12B-3, as amended.
[10-15-97; 2.83.200.3 NMAC -
Rn, 2 NMAC 83.200.3, 12-28-00]
2.83.200.4 DURATION: Permanent.
[10-15-97; 2.83.200.4 NMAC -
Rn, 2 NMAC 83.200.4, 12-28-00]
2.83.200.5 EFFECTIVE
DATE:
July 1, 1992 unless a different date is cited at the end of a section.
[10-15-97; 2.83.200.5 NMAC -
Rn & A, 2 NMAC 83.200.5, 12-28-00]
2.83.200.6 OBJECTIVE: The objective
of this rule is to establish procedures for rulemaking, to provide for payment
of expenses for investing and administering the judicial retirement fund, to
establish procedures and requirements for the remittance of contributions, and
to establish procedures for collecting pension overpayments.
[10-15-97; 2.83.200.6 NMAC -
Rn, 2 NMAC 83.200.6, 12-28-00]
2.83.200.7 DEFINITIONS: [Reserved]
[2.83.200.7 NMAC - Rn, 2 NMAC
83.200.7, 12-28-00]
2.83.200.8-9 [Reserved]
2.83.200.10 RULEMAKING
A. Prior
to the adoption, amendment or repeal of any rule, the board shall, at least thirty
days prior to its proposed action:
(1) publish notice of its proposed action in a
newspaper with a general statewide circulation.
The notice shall:
(a) give the time and place of any public hearing
and state the manner in which data, views or arguments may be submitted to the
board by any interested person;
(b) describe the substance of the proposed
action, and state the subjects and issues involved;
(c) include any additional matter required by
any law, together with specific reference to the statutory authority under
which the rule is proposed; and
(2) afford all interested persons reasonable
opportunity to submit data, views or arguments orally or in writing; if the
board finds that oral presentation is unnecessary or impracticable, it may
require that presentation be made in writing; the board shall consider fully
all written and oral submissions addressing the proposed rule; upon adoption of
a rule contested at hearing or otherwise, the board shall issue a concise
statement of its principal reasons for adoption of the rule; all persons heard
or represented at any hearing, or who submit any writing to be considered in
connection with the proposed rule, shall promptly be given a copy of the rule,
by mail or otherwise, if such persons so request in writing.
B. If
the board finds that immediate adoption, amendment or suspension of a rule is
necessary for the preservation of the soundness of the fund or general welfare
of the association, or if the board for good cause finds that observance of the
requirements of notice and public hearing would be contrary to the interests of
the association, board may dispense with such requirements and adopt, amend or
suspend the rule as an emergency. The
board's finding and a brief statement of the reasons for its finding shall be
incorporated in the emergency rule, amendment or suspension. No emergency rule, amendment or suspension
shall remain in effect for longer than sixty days, unless notice shall be given
within ten days of the adoption of the emergency rule and a hearing held as
provided in this section within ninety days of the notice.
[10-15-97; 2.83.200.10 NMAC -
Rn & A, 2 NMAC 83.200.10, 12-28-00]
2.83.200.11-19 [Reserved]
2.83.200.20 EXPENSES
OF ADMINISTRATION: Expenses related to the investment of the judicial
retirement fund and administration of the Judicial Retirement Act shall be paid
from the fund. Such expenses shall
include:
A. the
cost of annual and special actuarial valuations necessary to determine the
contribution rate required to support plan benefits in accordance with the
plan's funding objectives; special actuarial valuations may also be necessary
to measure the impact of proposed legislation;
B. the
cost of an annual independent audit of the fund's financial statements;
C. the
cost of investment management services as determined by the board;
D. the
cost of administration of benefit provisions in the same proportion as the
proportion of JRA members to members of the association; and
E. any
other expenses associated with the administration of the fund as determined by
the board.
[10-15-97; 2.83.200.20 NMAC -
Rn, 2 NMAC 83.200.20, 12-28-00]
2.83.200.21-29 [Reserved]
2.83.200.30 [Reserved]
[10-15-97; 11-15-97;
2.83.200.30 NMAC - Repealed, 12-28-00]
2.83.200.31-39 [Reserved]
2.83.200.40 OVERPAYMENT
OF PENSION: The board directs the executive director to
make all reasonable efforts to collect any pension overpayment made for any
reason.
[10-15-97; 11-15-97;
2.83.200.40 NMAC - Rn, 2 NMAC 83.200.40, 12-28-00]
HISTORY of 2.83.200 NMAC:
Pre-NMAC History: The material in this part was derived from that previously filed with
the State Records Center and Archives under:
JRA Rule 200, Administration,
filed on 7-1-92.
History of Repealed Material:
2 NMAC 83.200, Paragraph
40.2, 40.3 - Repealed 11-15-97
2.83.200.30 - Repealed
12-28-00