Financial Overview

Financial Overview Introduction

Our reports and operational information reflect the ongoing commitment to all activities undertaken by the New Mexico Educational Retirement Board (NMERB). The Financial Overview section includes: Actuarial Reports, Annual Comprehensive Financial Reports (ACFR), Popular Annual Financial Reports (PAFR), GASB 68 Information, and Request for Proposals (RFP) information. A brief description of available report pages is listed below.

Annual Comprehensive Financial Report (ACFR)

The Annual Comprehensive Financial Report (ACFR) contains detailed information about NMERB’s financial operations. Report information includes investment detail, actuarial tables and statistical information as well as a plan summary.

Popular Annual Financial Report (PAFR)

The Popular Annual Financial Report (PAFR) is a summary of the Comprehensive Annual Financial Report. The PAFR highlights key financial, investment and funding information.

GASB 68 Information

For information regarding GASB 68, including Implementation Guide for Employers, Journal Entry Tool for Employers, and Employer Allocation Reports, can be accessed on the GASB 68 Information page.

Industry Recognition

NMERB Management remains committed to a sustainable and sound pension fund indefinitely. NMERB has been consistently recognized within the Pension industry for maintaining standards and excellence in financial reporting.

Certificate of Achievement for Excellence in Financial Reporting

The Government Finance Officers Association of the United States and Canada (GFOA) awarded a Certificate of Achievement (COA) for Excellence in Financial Reporting to the New Mexico Educational Retirement Board for its Annual Comprehensive Financial Report (ACFR) for the fiscal year ended June 30, 2022.

In order to be awarded a Certificate of Achievement, a government must publish an easily readable and efficiently organized ACFR. This report must satisfy both generally accepted accounting principles and applicable legal requirements.

We believe our current Annual Comprehensive Financial Report also meets the Certificate of Achievement Program’s requirements.

Public Pension Standards Award

The Public Pension Coordinating Council (PPCC) awarded a Pension Standards Award for Standards and Administration for the fiscal year ended June 30, 2023. This is the thirteenth consecutive year that the New Mexico Educational Retirement Board has achieved this prestigious award. To be awarded a Public Pension Standards Award, a public pension program must meet the professional standards for plan design and administration as set forth in the Public Pension Standards guideline. This award is valid for a period of one year.

With Gratitude

We extend our sincerest appreciation to all of NMERB’s staff, consultants, and vendors for their continued dedication and efforts to ensure the accuracy of our reporting and excellence in maintaining high standards.