Statutes > New Mexico Statutes > Chapter 10 - Public Officers and Employees. > Article 11 - Retirement of Public Officers and Employees Generally, 10-11-1 through 10-11-142. > Section 10-11-123 - Funds of association.

Section 10-11-123 - Funds of association.

10-11-123. Funds of association.

A.     The accounting funds of the association are the "member contribution fund", "employers accumulation fund", "retirement reserve fund" and "income fund". The maintenance of separate accounting funds shall not require the actual segregation of the assets of the association among the various funds.   

B.     The accounting funds provided for in Subsection A of this section are trust funds and shall be used only for the purposes provided in the Public Employees Retirement Act [Chapter 10, Article 11 NMSA 1978].