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pirsq
March 13, 2021
Question

IRA

  • March 13, 2021
  • 1 reply
  • 0 views

Is a ERB the same as a IRA

    1 reply

    ColeenD3
    ColeenD3
    March 13, 2021

    No.

     

    The Educational Retirement Board (ERB) is a defined benefit plan. The benefit received upon retirement is defined by a prescribed formula based on years of service and an employee's age that may only be altered by the New Mexico State Legislature.

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