The board, each board member and the state shall not guarantee any rate of return or interest rate on any contribution made by a New Mexico work and save IRA program participant or New Mexico retirement plan marketplace participant.
History: Laws 2021, ch. 46, § 10.
Effective dates. — Laws 2021, ch. 46 contained no effective date provision, but, pursuant to N.M. Const., art. IV, § 23, was effective June 18, 2021, 90 days after adjournment of the legislature.
Structure New Mexico Statutes
Chapter 58 - Financial Institutions and Regulations
Article 33 - New Mexico Work and Save
Section 58-33-1 - Short title.
Section 58-33-2 - Definitions.
Section 58-33-3 - Board created; organization.
Section 58-33-4 - Board; scope of authority; powers and duties.
Section 58-33-5 - Confidentiality of participant and account information; application of other laws.
Section 58-33-6 - Executive director; powers and duties.
Section 58-33-7 - Board and board employee requirements and prohibitions; conflicts of interest.
Section 58-33-8 - New Mexico retirement plan marketplace.
Section 58-33-9 - New Mexico work and save IRA program; created; implementation.
Section 58-33-10 - Policies and procedures for the New Mexico work and save IRA program.
Section 58-33-11 - Protection for covered employers.