Question and Answer Section

Supporting SJGS Transition

Questions & Answers

1. Question: Of the $10K for annual educational assistance, are travel and expenses covered by this?

Answer: Tuition, expenses incurred for required textbooks per the course syllabus, and the following academically associated fees: laboratory fees, registration fees, testing fees, some equipment fees, licensing fees, and graduation fees for any Course minus any Financial Aid applicable to that Course are reimbursable through the Educational Assistance Benefits. All other expenses incurred (e.g., lodging, transportation, parking, postage, typing fees, tools or supplies, meals, etc.) are not reimbursable by the Company either through the Plan or a department’s budget; instead they are the personal financial responsibility of the employee.

2. Question: Is the tuition reimbursement taxable?

    Answer: San Juan Employees may receive educational assistance benefits up to $10,000 per calendar year (minus any applicable Financial Aid) to be used for Course Expenses. All benefits in excess of $5,250 in a calendar year are subject to tax, and the Company will add a tax gross-up in accordance with the terms of the Plan.

    3. Question: Severance, Lump sum or paid over a period of time?

    Answer: Severance benefits are paid as a lump sum.

    4. Question: Can an employee after separation from the Company, under the PNM Pension Plan roll their pension into a personal IRA at Vanguard 401k?

    Answer: Yes. Pension can be rolled into an IRA at Vanguard. Pension cannot be rolled into 401k. If separated employee wants to combine 401k funds and pension funds, 401k funds must be moved to a personal IRA at Vanguard first. Contact Vanguard at 1-800-523-1188 for further information.

    5. Question: Can employees use company equipment for online courses during lunch break or before or after work hours?

      Answer: PNM is actively setting up computer stations in the Administration Building which may be utilized before or after work hours, or designated lunch break. Computers shall be used for education purposes only.

      6. Question: Do we pay for our college first and then the company reimburses the employee?

        Answer: Yes, employees need to pay for college courses first. Our Educational Assistance benefit is a reimbursement plan. Employees must provide proof of successful completion of course work to receive Plan benefits. Where letter grades are given, only courses with grades of “C” or above for undergraduate work and “B” or above for graduate work will be eligible for reimbursement. For more details, please refer to education policy found in the https://www.pnmforyou.com/ website.

        7. Question: If I enroll in the Instrumentation, Controls and Electrical Technology program in the Spring. The program is classes are in the evening, Monday–Thursday, 5pm-8:45pm. Current work schedule is 4/10’s, 6:30am-5pm Monday-Thursday. Will PNM work to accommodate employee’s schedule without employee having to take, PTO, PL or Vacation on scheduled dates of classes?

          Answer: Non-exempt employees must account for hours worked or when on PL, Vacation or PTO.

          8. Question: Will the company set aside funds for employment through non-profit after retirement?

            Answer: PNMR Foundation plans to continue our strong support of nonprofit organizations in the San Juan area. Due to the organizational structure of the PMNR Foundation this funding will likely need to be directly to the non-profit organizations which can then best facilitate effective use of funds.

            9. Question: What is the date for the employment job recruiting at the School of Energy in the fall?

              Answer: Please see calendar on https://www.pnmforyou.com/ for dates.

              10. Question: What is the date for the employment job recruiting at the School of Energy in the Spring?

                Answer: Please see calendar on https://www.pnmforyou.com/ for dates.

                11. Question: Who do employees contact for resume writing and interview assistance?

                  Answer: Company will be conducting interactive sessions on this topic. Please see calendar on https://www.pnmforyou.com/ for dates.