NEW MEXICO EDUCATIONAL RETIREMENT BOARD

The New Mexico Educational Retirement Board is a private investment management organization based out of Santa Fe, New Mexico. The organization acts as the manager of the New Mexico retirement system, focusing on “providing secure retirement benefits for New Mexico's educational employees--past, present and future.” The origins of the organization can be traced back to the 1925 retirement act led by John Hall. The first iteration of the company catered only to faculty members at the university level and would have no required contributions from either employees or university. The organization would then increase its scope to include firemen in the following years and then go on to include all public teachers by 1933. Along with the Education Retirement Act, the organization would continue to evolve, encompassing more and more groups of people such as returning service men and women and modifying its management board. New Mexico Educational Retirement Board has expanded to now have additional offices in Albuquerque, New Mexico and Las Cruces, New Mexico. The organization invests in the public equity, alternative, and fixed income markets on a global scale, allocating its assets in the stocks of small and large cap companies. New Mexico Educational Retirement Board invests most heavily in the information technology sector, which alone makes up almost a fifth of its total asset allocations, and also invests in the health care, finance, consumer discretionary, real estate, consumer staples, industrials, utilities and telecommunications, and energy sectors, among other sectors to a lesser degree, in order of decreasing allocation. The organization holds its allocations an average of just under 30 quarters although it only holds its top 10 allocations for 16.2 quarters on average. New Mexico Educational Retirement Board now caters to over 65,000 active members, 49,000 inactive members, and 45,000 retirees and manages one of the “highest-ranking public pension plans in the country in terms of return on investment.”