ERB Plan

Defined Benefit Plan

Here at the New Mexico Educational Retirement Board we’re working hard on your behalf from the first to the last day of your career and for the rest of your life. We’ve been securing the financial futures of our New Mexico educational members past, present, and future for more than 60 years. We are here to help you understand the benefits and services available to you.

How does the NMERB Defined Benefit plan work?

NMERB administers a Defined Benefit (DB) qualified plan under IRS code section 401(a). This is a LIFETIME benefit plan for you and a designated beneficiary (depending on your benefit option choice).

ERB’s Three Member Groups

The New Mexico Educational Retirement Board had a total of 171,033 Members at the end of FY 2024. We categorize them among the following three groups:

Active Members, who currently work for an NMERB affiliated employer in a covered position: 61,503.
Inactive Members, who maintain accounts with us but are no longer working for an NMERB employer in a covered position: 54,756.
Retirees and Beneficiaries currently receiving benefits: 54,774.