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City Of Albuquerque > Announcements > New Rule Change Affecting Retirement After 1/1/2020  

Announcements: New Rule Change Affecting Retirement After 1/1/2020

Title

New Rule Change Affecting Retirement After 1/1/2020 

Body

The New Mexico Retiree Health Care Authority (NMRHCA) is proposing rule changes to determine the amount of premium paid on your behalf (subsidy) for health coverage through NMRHCA after you retire. Effective January 1, 2020, in order to receive any subsidy the retiree must be age 55 or more (previously there was no age requirement). In order to receive 100% of the subsidy the retiree must have 25 years or more of creditable service (previously 20 years of service was required to receive 100% of the subsidy). The amount of subsidy is reduced for lesser years of creditable service on a pro rata basis. These proposed rule changes do not affect members of PERA enhanced retirement plans such as Police, Fire, and Transport Officers. These changes also clarify that disabled retirees receive a 100% subsidy regardless of years of service or age. The NMRHCA is conducting a rule making hearing on October 19, 2018, 9:30 am to 11:30 am, at the NMRHCA office located at 4308 Carlisle Blvd. NE, Suite 207 in Albuquerque, NM 87107. Please see the attached memorandum from the NMRHCA for more information. Any questions or comments should be directed to the NMRHCA at 800.233.2576.

Expires

1/1/2020 

Questions? Please contact:

 
Attachments
Notice of Public Hearing - Rulechange Word.pdf    
Created at 9/20/2018 4:43 PM  by Timmerman, Susan E. 
Last modified at 9/20/2018 4:56 PM  by Timmerman, Susan E.