PERA provides 31 different coverage plans and you fall under a certain plan that your PERA-affiliated employer has chosen to provide. There are over 300 PERA-affiliated employers throughout the state of New Mexico. Every time you get paid, a portion of your paycheck automatically goes into your PERA retirement account. These contributions will always belong to you. Your employer also contributes to PERA and PERA invests those dollars for you and all PERA members. You will not see your employer contributions until you are in retirement. Your employee contributions accrue interest each June 30th at a rate set by PERA's Board. To view PERA’s plans, visit pages 13-14 of PERA’s Member Handbook

There are two tiers of membership under PERA, which include Tier 1 and Tier 2. You are a TIER 1 member if you were hired for the first time on or before June 30, 2013; and had member contributions on account as of June 30, 2013; or were retired as of June 30, 2013. You are a TIER 2 member if you were hired for the first time on or after July 1, 2013; or refunded your employee contributions on or before June 30, 2013, and returned to work for a PERA-affiliated employer on or after July 1, 2013. PERA Members under both tiers of membership have a vesting period of 5 years of service credit.