Retirement Planning


There are many considerations as you plan for retirement and PERA provides many resources to assist you. In addition to the information below, please review the lists of publications, forms and your RIO account.

Attend a PERA Seminar

PERA offers a variety or seminars where you will have the opportunity to ask questions and obtain general information about your retirement.

Request a Benefit Estimate

One year from retirement, request an estimate of benefits. This estimate will provide you information you need to start estimating your retirement income and your first eligible retirement date. You may also log into your RIO account to review your personal information. PERA also sends out a member annual statement in the fall of each year, please closely review the information on this statement and contact PERA if any discrepancies are identified.

Reciprocity Service

During your career you may have worked for an entity covered by the NM Educational Retirement Board or in a position covered under the Judicial or Magistrate retirement plans. Reciprocity service may be combined toward retirement eligibility and used to calculate pension benefits under their specific formulas. Please let us know if you believe you have reciprocity service. More information can be found here.

Consider Purchasing Service Credit

You are eligible to purchase certain types of service credit such as withdrawn, military and air time. Purchasing service can increase your monthly benefit and may allow you to retire earlier. If you participate in our deferred compensation plan or another qualified retirement plan you may be eligible to roll over funds tax free. Click here for more information on purchasing service.

Beneficiary Options

Familiarize yourself with the form of payment options. When applying for retirement you must choose how you want to be paid. The payment option you choose will determine whether a beneficiary will continue to receive a monthly pension if you pass away and your monthly pension benefit will be reduced depending on your age and the age of your beneficiary. The form of payment options are as follows:

  • Form of Payment A - Straight Life Option: provides a monthly benefit to you for your lifetime only. When you die, payments stop the first day of the month following your death.
  • Form of Payment B - 100% Joint Survivor Option: provides a monthly benefit to you for your lifetime. When you die, your beneficiary will receive this same amount for the rest of their life.
  • Form of Payment C - 50% Joint Survivor Option: Provides a monthly benefit to you for your lifetime. When you die, your beneficiary will receive half the amount for the rest of his or her life.
  • Form of Payment D - Temporary Joint Survivor Option (For retirees with unmarried minor children under the age of 25: provides a monthly benefit to you for your lifetime. When you die, the same total amount is shared by your eligible children until the last child reaches age 25.

Retiree Healthcare and Social Security Benefits

The majority of our affiliated employers pay into the NM Retiree Healthcare Authority and Social Security. As you plan for retirement contact them to see what benefits you are eligible for. Click on the links below to visit their websites: