Member Services Q & A

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By Member Services

Question

I am doing my taxes and need my 1099-R from ERB, how do I get that as soon as possible?

Answer

On January 28, 2025, ERB mailed 1099-R documents to every retired member receiving benefits using the address that is on file with ERB. If you have not received your 1099-R by mail, here are the three different ways you can get the 1099-R:

  • The quickest way to get your 1099-R is to log in to your MyNMERB account through the Member Portal on the ERB website and print a copy.
  • You may request ERB mail or email this document to you, but it can take up to 7-10 business days before you receive the document.
  • You are also welcome to stop by the ABQ or Santa Fe office and request ERB print a copy of your 2024 1099-R during regular business hours.
Question

I am locked out of my MyNMERB Account on the Member Portal, what should I do?

Answer

Password resets are part of ERB Security measures so if you do not open your MyNMERB account within a 90 day period, you may need assistance accessing your account. Here are a few steps to follow:

  • If you do not remember your Username, please call the Member Services Call Center (1-800-663-1919). We will have a conversation to verify who you are and then provide you with your Username.
  • If you have your Username, please attempt to follow the “Forgot Password” link that is at the bottom of the MyNMERB Account login page. Should you still need assistance, please reach out to the Member Services Call Center (1-800-663-1919).
Question

I am planning refund my contributions, is there a penalty?

Answer

The IRS will automatically withhold a 20% tax from your gross refund. If you are under the age of 59.5, you will owe an additional 10% withdrawal penalty from the gross amount come next tax season. There are no State of new Mexico penalties, but the refund is subject to state taxes on the next tax year.

Example:

$1,000 gross contribution refund – 20% automatic IRS penalty = $200

$1,000 gross contribution refund – 10% penalty if under the age of 59.5 = $100

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Net contributions refunded = $700

Note: Refund is then taxed by the state on the next tax return.