NM STABLE
The New Mexico State Treasurer’s Achieving a Better Life Experience (NM STABLE) accounts are administered as 529A accounts. Participants can choose from a variety of investment options, similar to 529 college savings accounts or Roth IRAs. They can withdraw and spend money as needed for qualified disability expenses that help increase and/or maintain their health, independence, and quality of life. NM STABLE provides exempted clawbacks on accounts and balances from Medicaid recovery so that New Mexicans with disabilities can save, invest, and plan for the future with the same confidence as anyone else.
New Mexico Achieving A Better Life Experience (NM STABLE)
Starting January 2026, the ABLE Age Adjustment Act broadens eligibility for ABLE accounts, allowing individuals who acquired a disability before age 46 (currently age 26) to save and invest without losing public benefits.
NM STABLE provides:
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Access to STABLE accounts specifically for New Mexicans with disabilities
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Tax-free savings for disability-related expenses
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The ability to save and invest without losing needs-based benefits
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NM STABLE provides exemptive clawbacks on accounts and balances from Medicaid recovery so that New Mexicans with disabilities can save, invest, and plan for the future with the same confidence as anyone else.
To learn more and check your eligibility visit the NM STABLE website.
Additional Resources
ABLE National Resource Center (ABLENRC)
Provides education, tools, and best practices for ABLE accounts nationwide.
Visit ABLENRC
Social Security Administration (SSA)
Information about Supplemental Security Income (SSI), Social Security Disability Insurance (SSDI), and other benefits.
Visit SSA
New Mexico Developmental Disabilities Planning Council (NMDDPC)
Offers advocacy and guidance for individuals with disabilities and their families.
Visit NMDDPC
National Disability Institute (NDI)
Provides financial empowerment resources for individuals with disabilities, including ABLE account strategies.
Visit NDI
Announcement for January 2026
Starting January 2026, the ABLE Age Adjustment Act broadens eligibility for ABLE accounts, allowing individuals who acquired a disability before age 46 to save and invest without losing public benefits.
Learn more here: https://www.youtube.com/watch?v=Icfwtrab3Rc
New Mexico Baby Bonds
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New Mexico Baby Bonds will create a government-funded trust account which will incur interest and provide startup capital to every baby born in New Mexico after legislation is passed. Once they reach adulthood, Baby Bond recipients will have indirect access to the accumulated funds, which will provide them with the opportunity to invest in higher education, or trade school, a down-payment on a home or reliable vehicle, capital to start a business, or retirement savings.
Building A Brighter Future for New Mexico
Baby Bonds is a groundbreaking initiative to bridge inequity and ensure that every child born in New Mexico has a pathway to financial independence. By investing directly in New Mexicans, Baby Bonds empower future generations to build lasting wealth and achieve lasting economic prosperity for our state.
Launching the Baby Bonds Pilot Initiative
In August 2024, State Treasurer Laura M. Montoya, alongside NM House Speaker Javier Martinez, proudly supported the Baby Bonds pilot program led by Partnership For Community Action (PCA), Abriendo Puertas/Opening Doors (AP-OD), MoneyByrd, and Prosperity Works. This initiative serves as proof of concept for Baby Bonds legislation to be proposed during the 2025 legislative session.
Baby Bonds Publications
Visit us frequently to find the latest information and more about New Mexico's Baby Bonds Initiative.
Baby Bonds Media
Join The Baby Bond Coalition
The New Mexico Baby Bond Coalition includes community partners dedicated to breaking cycles of poverty and empowering New Mexicans to pass Baby Bonds legislation. New Mexico ranks among the highest in violent crime, the lowest in education, and as the third poorest state in the nation. Baby Bonds offer a transformative path to address these challenges, creating opportunities for all New Mexicans to thrive. Together, we can make New Mexico the second state in the nation to pass Baby Bond legislation and help our communities ascend to their fullest potential.
Interested in joining? Contact Christina Perea at christina.perea@sto.nm.gov or click the button below.
Financial Fitness
Financial literacy is the ability to understand and effectively use various financial skills, including personal financial management, budgeting, and investing.
Financial Education To Improve New Mexicans’ Lives
Treasurer Laura M. Montoya has initiated several programs to improve the financial literacy of New Mexico's citizens. By building partnerships with state agencies, non-profit organizations, and financial institutions, we provide financial literacy resources that change lives for the better. Treasurer Montoya and the New Mexico State Treasurer's Office are also coalition members of the Jump $tart and the Bank On NM coalitions, both of which are dedicated to helping improve the financial stability of households in New Mexico.
STO offers budgeting, debt reduction, earning, retirement investing, saving, and wealth accumulation education to participants through the NM Enrich and New Mexico Work & $ave, the State Treasurer’s Achieving a Better Life Experience (NM STABLE) programs, and through initiatives such as Financial Empowerment for Women program and Baby Bonds.
Financial Empowerment Summit
Our Financial Empowerment Summits feature in-person presentations led by trusted experts and special guests that speak on important financial topics. Each of our Summits are designed to be engaging, informative, and directly relevant to the needs of all New Mexicans looking to improve their financial literacy. Below you’ll find the same materials and resources as helpful tools for your financial journey.
Track Your Spending With The Chase Mobile® App
Learn more about your spending habits and budget right from Chase Mobile® app. Try the Chase Mobile® app today!
Financial Empowerment For Women
Addressing The Gender Pay Gap
According to the City of Albuquerque’s Gender Pay Equity Initiative, women in New Mexico make 79 cents for every dollar paid to their male counterparts, resulting in a yearly gap of $8,789. Women of color face even greater inequalities. In New Mexico, African American women receive just 69 cents for every dollar paid to men while Hispanic women receive just 66 cents for every dollar paid to men. Nationwide, Native American women 60 cents for every dollar paid to men.
Promoting Equity for Women
State Treasurer’s Office is committed to focusing on financial empowerment for women, working to improve financial stability for women across New Mexico. By providing continuous access to financial information, free financial resources, and financial literacy, we can close the gender wage gap and bridge the wealth divide.
A schedule of 2025 events will be shared soon.
New Mexico Work & $ave
NM Work & $ave was a state-sponsored retirement savings program designed to help New Mexicans build financial security. It provided individuals—especially those without employer-sponsored retirement plans—an easy, portable, and secure way to save for retirement. The program aimed to increase retirement readiness for participants across the state.
Helping New Mexicans Achieve Retirement
In 2020, House Bill 44, sponsored by Sen. Bill Tallman, Sen. Michael Padilla, Rep. Tomás Salazar, Rep. Christine Chandler, and Rep. Gail Armstrong, passed in the legislature and was signed into law by Governor Michelle Lujan Grisham. This legislation created the non-compensated New Mexico Work and Save Board which gives them powers and duties; allows for a voluntary savings program for private-sector employees, nonprofit employees, and self-employed individuals via a Roth Individual Retirement Account; allows for a web-based “retail” Retirement Savings Plan Marketplace; provides protection for covered employers; provides for confidentiality of participants and account information; and requires annual reports. The program is voluntary for both employers and employees.
Legislative Update
A Request For Proposal was created during the previous administration, but no one expressed interest. It was later stated that in order for the program to be successful, it needed to be mandated to require all business to participate with the option to opt out. Legislation was proposed in 2022 and 2023 to require specific employers to register as participating employers, automatically enrolling their employees in the New Mexico Work and Save IRA Program and allowing employees to opt out of automatic enrollment. That legislation did not move forward. There was also legislation introduced to remove Work and Save from the Treasurer’s Office. That legislation did not move forward either.
Therefore, the New Mexico Work and Save program is not currently operational and has been delayed.
If you are looking for files or information related to the program when it was active, it can be found on the Work and $ave page.
We are providing easy-to-use financial calculators to help you make informed decisions. From home affordability to budgeting, we are here to support your financial journey. More tools are coming soon, so check back often for new resources!
Financial Help Calculators
Learn more about your spending habits and budget right from Chase Mobile® app. Try the Chase Mobile® app today!
Track Your Spending With The Chase Mobile® App
Our Financial Empowerment Summits feature in-person presentations led by trusted experts and special guests that speak on important financial topics. Each of our Summits are designed to be engaging, informative, and directly relevant to the needs of all New Mexicans looking to improve their financial literacy. Below you’ll find the same materials and resources as helpful tools for your financial journey.
Financial Empowerment Summit
STO offers budgeting, debt reduction, earning, retirement investing, saving, and wealth accumulation education to participants through the NM Enrich and New Mexico Work & $ave, the State Treasurer’s Achieving a Better Life Experience (NM STABLE) programs, and through initiatives such as Financial Empowerment for Women program and Baby Bonds.
Treasurer Laura M. Montoya has initiated several programs to improve the financial literacy of New Mexico's citizens. By building partnerships with state agencies, non-profit organizations, and financial institutions, we provide financial literacy resources that change lives for the better. Treasurer Montoya and the New Mexico State Treasurer's Office are also coalition members of the Jump $tart and the Bank On NM coalitions, both of which are dedicated to helping improve the financial stability of households in New Mexico.
Financial Education To Improve New Mexicans’ Lives
Financial literacy is the ability to understand and effectively use various financial skills, including personal financial management, budgeting, and investing.
Financial Fitness
