1. A. Information obtained by the board that is proprietary or information about covered employees or participants in the New Mexico retirement plan marketplace is confidential and not subject to inspection pursuant to the Inspection of Public Records Act [Chapter 14, Article 3 NMSA 1978].

2. B. Individual account information of New Mexico work and save program participants, including names, addresses, telephone numbers, email addresses, personal identification information, investments, contributions and earnings, is confidential and shall be maintained as confidential:

   1. (1) except to the extent necessary to administer New Mexico work and save in a manner consistent with the New Mexico Work and Save Act, the tax laws of this state and the Internal Revenue Code; or
   2. (2) unless the person who provides the information or is the subject of the information expressly agrees in writing to the disclosure of the information.

History: Laws 2020, ch. 7, § 5.

ANNOTATIONS

Cross references. — For Internal Revenue Code, see 26 U.S.C. § 1 et seq.

Effective dates. — Laws 2020, ch. 7 contained no effective date provision, but, pursuant to N.M. Const., art. IV, § 23, was effective May 20, 2020, 90 days after adjournment of the legislature.

Temporary provisions. — Laws 2020, ch. 7, § 13 provided:

A. The New Mexico retirement plan marketplace shall be implemented no later than July 1, 2021.

B. New Mexico work and save shall be implemented so that covered employees may begin contributing to New Mexico work and save no later than January 1, 2022.