New Mexico Statutes 10-11-123. Funds of association
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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.
Terms Used In New Mexico Statutes 10-11-123
- Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
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.