N.M. Stat. § 29-4-5
[State treasurer is trustee of funds; duties.]
The treasurer of the state of New Mexico shall serve as trustee for the pension trust
fund and the supplementary trust fund and shall receive and hold as trustee for the uses
and purposes set out in the trust agreements any and all funds paid to it as such trustee
by the state, the department, the employee beneficiaries or by any other person or
persons.