Flexible Spending Accounts (FSA)
The City encourages participation in Medical FSA, Dependent Care FSA and Parking/Transit by paying the monthly participation fee. These separate accounts allow employees to pay for qualified expenses with tax-free dollars.
The City is a member of Public Employees Retirement Association of New Mexico (PERA.) The City contributes the requisite employer contribution in addition to 75% of the employee’s contribution. The factor of salary varies according to which PERA plan the member is enrolled. Vesting occurs with five years of credited service.
Employees may be eligible to retire early by using their sick leave and vacation just prior to their PERA retirement dates.
Every other month the Insurance & Benefits Division of Human Resources holds a half-day Retirement Seminar for employees considering retirement within the next three years. Presenters include representatives from:
Social Security Administration
NM Retiree Health Care Authority
Deferred Compensation Vendors
Insurance & Benefits Division of HR
Rio Grande Credit Union
Additional savings for retirement is available under Section 457 of the Internal Revenue Code. Employees determine the biweekly contribution that is deducted before Federal Tax withholding is calculated. Contributions may be used to purchase qualified service credit with PERA. Many investment options are available with three vendors:
The City, in partnership with Presbyterian Health Plan, is committed to focusing on your health by offering a comprehensive wellness program for all City employees and their dependents. Programs include weight loss, smoking cesation, screenings, flu shots and resources to learn more about keeping your family healthy.