Clovis Municipal School District

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Compensation

Resignation/Leaving Employment with the District
Any staff member who leaves employment with the District must give adequate notice and must complete the necessary forms, submit satisfactory payment for any outstanding debts owed to the District, and return all district property. Failure to do this may result in a delay of any compensation that is still owed to the employee by the District.

Retirement
The Employees Retirement Act (ERA) requires that participation is mandatory. Temporary employees who work less than thirty (30) calendar days and students are excluded. Employees contribute a percentage of their total earnings as established by the New Mexico Legislature. Employee contributions are refunded without interest on deposits prior to July 1, 1971, and with interest on deposits after July 1, 1971, to those who leave employment covered under the New Mexico Retirement Act. Refunds are not automatic; forms for a refund of employee contributions are available in the Benefits Representative Office located in the Administration Building. Employee contributions to the Retirement Act are deferred from income tax. Federal regulations require a 20% federal tax withholding. When the employee contributions are refunded, they will be subject to taxation in the year refunded. Requested refunds will be processed at the end of the quarter in which the employee terminates. Contact the Benefits Representative at the Administration Building for additional information.

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