Legally Required Benefits: New Mexico
Federal law and guidance on this subject should be reviewed together with this section.
Authors: Iris L. M. Ring and Barbara G. Stephenson, Sheehan & Sheehan, P.A.
- Unemployment insurance is a nationwide program created to provide partial wage replacement to unemployed workers while they conduct an active search for work. Unemployment insurance is a joint federal-state program based on federal law and executed through state law. See New Mexico Unemployment Insurance.
- Employers finance unemployment insurance through unemployment tax contributions paid to the state and federal government. The Federal Unemployment Tax Act (FUTA) was created to finance all administrative expenses of the federal/state unemployment insurance system and the federal costs involved in providing benefits. See New Mexico Unemployment Insurance.
- New Mexico unemployment insurance is provided under the New Mexico Unemployment Compensation Law and is administered by the New Mexico Department of Workforce Solutions. Most employers are subject to the New Mexico Unemployment Compensation Law. See New Mexico Unemployment Insurance.
- Unemployment benefits will generally last for up to 26 weeks. See Benefits.
- Claimants must meet certain requirements in order to be eligible for unemployment benefits. See Eligibility.
- Employers must follow specified recordkeeping and posting requirements. See Recordkeeping Requirements; Posting Requirement.