[Rev. 2/10/2015 4:54:09
PM--2014R2]
CHAPTER 286 - PUBLIC EMPLOYEES’ RETIREMENT
GENERAL PROVISIONS
NRS 286.010 Short
title.
NRS 286.015 Declaration
of state policy; purpose of chapter.
NRS 286.016 Definitions.
NRS 286.017 “Actuarial
computation” defined.
NRS 286.020 “Board”
defined.
NRS 286.025 “Compensation”
defined.
NRS 286.031 “Disability
retirement allowance” defined.
NRS 286.040 “Employee”
defined.
NRS 286.042 “Firefighter”
defined.
NRS 286.045 “Independent
contractor” defined.
NRS 286.050 “Member”
defined.
NRS 286.061 “Police
officer” defined.
NRS 286.065 “Postretirement
increase” defined.
NRS 286.070 “Public
employer” defined.
NRS 286.078 “Service”
defined.
NRS 286.080 “Service
retirement allowance” defined.
NRS 286.100 “System”
defined.
NRS 286.110 Public
Employees’ Retirement System: Establishment; review of System; use of state
services; public inspection of records; liability of public employers.
NRS 286.117 Limitations
on review and copying of records; waiver.
ADMINISTRATION
NRS 286.120 System
governed by Public Employees’ Retirement Board: Name; number of members; duties
of Governor; removal of members.
NRS 286.130 Qualifications
of members of Board; terms.
NRS 286.150 Monthly
meetings of Board; certain closed meetings; designation and term of Chair.
NRS 286.160 Persons
employed by Board: Appointment; salaries; qualifications; other employment of
Executive Officer prohibited; exceptions.
NRS 286.170 Administration
of System; compensation and removal of employees.
NRS 286.180 Compensation
and expenses of members of Board.
NRS 286.190 General
powers and duties of Board.
NRS 286.200 Rules
and regulations of Board: Procedure for adoption; conditions.
NRS 286.211 Duties
of Board: Police and Firefighters’ Retirement Fund.
NRS 286.215 Duties
of Board: Calculation and determination of contributions, benefits and service
credit related to qualified military service.
NRS 286.220 Public
Employees’ Retirement Fund.
NRS 286.225 Police
and Firefighters’ Retirement Fund.
NRS 286.227 Police
and Firefighters’ Retirement Fund Advisory Committee.
NRS 286.230 Public
Employees’ Retirement Administrative Fund.
NRS 286.241 Fund
to pay accrued benefits that are not payable because of certain limitations;
benefits paid from employer contributions.
NRS 286.260 Individual
accounts of members; liability of Board upon return of contributions.
NRS 286.265 Notice
to Public Employees’ Benefits Program regarding certain changes in payment
status of benefit recipients.
NRS 286.282 Chief
of Budget Division to advise Governor concerning review of System’s policies
and performance.
NRS 286.287 Board
to consider investments: Meetings; duties.
NRS 286.288 Liaison
officer between System and members or employers; responsibility of System for
inaccurate or misleading information.
MEMBERSHIP
NRS 286.290 Conditions
for membership in System.
NRS 286.293 Persons
required to participate in System.
NRS 286.297 Persons
excluded from membership in System.
NRS 286.300 Purchase
of credit for service: Requirements; sources; refund of contributions;
defaults.
NRS 286.3005 Purchase
of credit for service: Public employer may purchase credit for member.
NRS 286.3007 Purchase
by state agency of credit for service: Conditions.
NRS 286.301 Credit
for free prior service.
NRS 286.303 Free
credit for military service.
NRS 286.365 Eligibility
of civilian employees of Nevada National Guard for membership in System.
NRS 286.367 Eligibility
of volunteer firefighters for membership in System: Contributions; average
compensation; purchase of credit for service as volunteer firefighter and for
certain military service.
NRS 286.370 Procedure
for integration of previously established retirement systems.
NRS 286.385 Public
employee on leave of absence to serve in Nevada Legislature may remain member
of System.
NRS 286.391 Public
employee on leave to work for employee or employer association may remain
member of System; purchase of credit for service.
NRS 286.401 Termination
of membership; rights of retired employee.
CONTRIBUTIONS
NRS 286.410 Amount
of contribution by members of System; deduction from payroll; return of
contributions; members with disabilities.
NRS 286.421 Payment
of contributions by employer on behalf of employee; average compensation; total
rate of contribution.
NRS 286.425 Election
by employee to have employer pay contributions.
NRS 286.430 Withdrawal
of contributions.
NRS 286.435 Repayment
upon retroactive reinstatement.
NRS 286.440 Redeposit
of withdrawn contributions upon return to service: Procedure.
NRS 286.450 Rate
of contributions by public employer.
NRS 286.460 Remittance
of contributions by public employers.
NRS 286.462 Complaint
to Department of Taxation required concerning delinquent report or payment.
SERVICE
NRS 286.470 Credit
for service as county commissioner, city council member or mayor: Calculation
of average compensation; waiver of service; exception.
NRS 286.475 Credit
for service as Legislator before July 1, 1967: Calculation of average
compensation.
NRS 286.477 Credit
for part-time employment; loss of credit.
NRS 286.479 Service
credit for military service in Persian Gulf Crisis.
NRS 286.481 Service
ineligible for credit.
NRS 286.486 Service
credited in another system ineligible; exception.
NRS 286.495 Computation
of credit for service: Generally.
NRS 286.501 Computation
of credit for service: Employees of school districts and professional staff of
Nevada System of Higher Education.
NRS 286.505 Conversion
of credit for service; time for crediting service.
RETIREMENT
NRS 286.510 Eligibility:
Age and service of police officers, firefighters and other employees; reduction
of benefit for retirement before required age.
NRS 286.520 Employment
of retired employee: Consequences; notice; exemptions.
NRS 286.523 Employment
of retired employee: Exception for reemployment of certain retired employees to
fill positions for which critical labor shortage exists; determination and
designation of such positions; limitation on length of designation of position.
[Effective through June 30, 2015.]
NRS 286.525 Employment
of retired employee: Enrollment in System; rights of membership; accrual of
credit for service; benefits for survivor.
BENEFITS
NRS 286.533 Limitation
on distributions to members of System.
NRS 286.534 Actuarial
assumptions used in computing benefits: Availability; changes prohibited.
NRS 286.535 Limitation
on compensation used to determine retirement benefit.
NRS 286.537 Limitations
on benefits and contributions.
NRS 286.538 Minimum
benefits payable to employee who became member of System before January 1,
1990.
NRS 286.539 Prohibition
against applying forfeitures to increase benefits.
NRS 286.541 Application
for service retirement allowance or disability retirement allowance; effective
date of retirement; rights of present or former spouse; System exempted from
liability for false designation of marital status by member or retired member.
NRS 286.545 Consent
of spouse to retirement plan of member.
NRS 286.551 Determination
of monthly service retirement allowance.
NRS 286.555 Refund
of portion of contributions to certain persons who became members on or after
January 1, 2010.
NRS 286.571 Postretirement
increases: Calculation of increase for persons who became members on or after
January 1, 2010.
NRS 286.575 Postretirement
increases: Payment; effect on monthly benefit.
NRS 286.5756 Postretirement
increases: Persons receiving benefits before September 1, 1983, or for 3 years
before increase.
NRS 286.5765 Postretirement
increases: Persons retired before July 1, 1963; persons retired before
September 1, 1975, with 20 years’ credit for service; persons retired before
July 1, 1989, with 20 years’ credit for service; separate account.
NRS 286.577 Postretirement
increases: Persons receiving allowance before July 1, 1975; persons with
benefits commencing in 1975.
NRS 286.5775 Postretirement
increases: Increases based on years allowance received; beneficiaries of
deceased employees; limitations.
NRS 286.578 Postretirement
increases: Increases payable July 1, 1979, and July 1, 1980.
NRS 286.5785 Postretirement
increases: Increases payable July 1, 1981, and July 1, 1982.
NRS 286.579 Postretirement
increases: Increase for persons receiving benefits before January 1, 1977.
NRS 286.590 Alternatives
to unmodified service retirement allowance.
NRS 286.592 Optional
plans: Death of beneficiary; change of selection; effective date of termination
or adjustment of allowance.
NRS 286.612 Charges
for deferred protection: Termination; adjustments of allowances or benefits.
NRS 286.615 Optional
deduction from benefits for payments for group insurance, plan of benefits or
medical and hospital service or other obligations; regulations; exemption of
Executive Officer, Board and System from liability for errors or omissions.
NRS 286.620 Disability
retirement allowance: Eligibility; calculation of amount; beneficiaries;
effective date of termination or adjustment of allowance.
NRS 286.630 Disability
retirement allowance: Approval or denial of application; medical examination.
NRS 286.634 Disability
retirement allowance: Effective date of retirement.
NRS 286.637 Disability
retirement allowance: Recipient to provide copy of federal income tax return;
Board may require medical examinations.
NRS 286.638 Disability
retirement allowance: Reporting to Internal Revenue Service.
NRS 286.640 Disability
retirement allowance: Cancellation.
NRS 286.650 Disability
retirement allowance: Consequences of employment of recipient.
NRS 286.655 Payments
for rehabilitation in lieu of disability retirement allowance.
NRS 286.660 Death
of certain member before retirement: Disposition of money to member’s credit in
Public Employees’ Retirement Fund.
NRS 286.665 Death
of member, retired employee or beneficiary: Transfer of contributions to
retirement fund under certain circumstances; procedure for claiming transferred
money.
NRS 286.667 Allowance
for retired police officer or firefighter: Benefits for spouse upon death;
credit for certain other service prohibited; costs of benefit paid by employee.
NRS 286.669 Person
convicted of murder or voluntary manslaughter of member ineligible to receive
benefits.
NRS 286.670 Right
to benefits not subject to taxes, process, bankruptcy, assignment or assessment
for impairment or insolvency of insurance company; exceptions.
NRS 286.6703 Payment
of allowance or benefit to alternate payee pursuant to domestic relations
order.
NRS 286.6705 Transfer
of unpaid check for benefits or refund to retirement fund; claim for payment of
money; period of limitation.
BENEFITS FOR SURVIVORS
General Provisions
NRS 286.671 Definitions.
NRS 286.672 Eligibility.
Children
NRS 286.673 Payments
to child of deceased member.
Spouses
NRS 286.674 Payments
to spouse of deceased member.
NRS 286.676 Payments
to spouse of deceased member who had 10 or more years of accredited contributing
service.
NRS 286.6765 Payments
to spouse if deceased member was eligible to retire.
NRS 286.6766 Payment
in lump sum to spouse; exception.
Survivor Beneficiaries and Additional Payees
NRS 286.6767 Designation
of survivor beneficiary and additional payees by member.
NRS 286.67675 Payments
to survivor beneficiary of and to additional payees designated by deceased
member.
NRS 286.6768 Payments
to survivor beneficiary of and to additional payees designated by deceased
member who had 10 or more years of accredited contributing service.
NRS 286.67685 Payment
to survivor beneficiary of and to additional payees designated by deceased
member if deceased member was eligible to retire.
NRS 286.6769 Payment
in lump sum to survivor beneficiary of and to additional payees designated by
member; exception.
Parents
NRS 286.677 Payment
to dependent parents; conditions.
Limitations and Disposition of Surplus
NRS 286.6775 Limitation
on and reduction of amount of monthly allowance.
NRS 286.679 Disposition
of surplus of contributions if payments to beneficiary cease.
VESTING OF ALLOWANCES AND BENEFITS
NRS 286.6793 Time
of vesting; vesting of benefits upon termination of System.
INVESTMENT OF MONEY
NRS 286.680 Investment
by Board of money in funds; qualifications and employment of investment
counsel; employment of other services; liability for investment decisions.
NRS 286.682 Authorized
investments: “Prudent person” standard.
INVESTMENTS IN COMPANIES WITH CERTAIN OPERATIONS IN IRAN
NRS 286.701 Definitions.
NRS 286.703 “Active
business operations” defined.
NRS 286.705 “Business
operations” defined.
NRS 286.707 “Company”
defined.
NRS 286.709 “Direct
holdings” defined.
NRS 286.711 “Inactive
business operations” defined.
NRS 286.713 “Iran”
defined.
NRS 286.715 “Petroleum
resources” defined.
NRS 286.717 “Scrutinized
business operations” defined.
NRS 286.719 “Scrutinized
company” defined.
NRS 286.721 Board
to identify, review and create list of investments in scrutinized companies.
NRS 286.723 Board
to prepare report of investments in scrutinized companies.
NRS 286.725 Inapplicability
to certain investments.
UNIVERSITY OF NEVADA RETIREMENT PROGRAM
NRS 286.802 Board
of Regents to establish separate program for retirement of certain employees;
contributions; enrollment.
NRS 286.804 Program
may be separate system or fund; participation in larger system or fund;
provision of benefits through investment entity or combination of entities.
NRS 286.808 Contributions;
payment by Board of Regents on behalf of participant.
NRS 286.810 Designation
of investment entities; approval of contracts.
NRS 286.812 Administration
of program.
NRS 286.814 Participants
ineligible for membership in Public Employees’ Retirement System.
NRS 286.816 Benefits
payable only by designated investment entities.
UNLAWFUL ACTS; PENALTIES
NRS 286.820 False
statement or certification; withholding of information.
_________
GENERAL PROVISIONS
NRS 286.010 Short title. This
chapter shall be known as the Public Employees’ Retirement Act.
[1:181:1947; 1943 NCL § 5230.01]
NRS 286.015 Declaration of state policy; purpose of chapter.
1. It is the policy of this State to
provide, through the Public Employees’ Retirement System:
(a) A reasonable base income to qualified
employees who have been employed by a public employer and whose earning
capacity has been removed or has been substantially reduced by age or
disability.
(b) An orderly method of promoting and
maintaining a high level of service to the public through an equitable
separation procedure, which is available to employees at retirement or upon
becoming disabled.
(c) A system which will make government
employment attractive to qualified employees in various categories of service
and which will encourage these employees to remain in government service for
such periods of time as to give the public employer full benefit of the
training and experience gained by these employees while employed by public
employers.
2. It is the purpose of this chapter to
make suitable provision for the accomplishment of the policy stated in
subsection 1. The Board shall define the intermediate objectives and operating
guidelines it considers necessary to produce the maximum in economy, efficiency
and effectiveness within the System.
(Added to NRS by 1973, 996)
NRS 286.016 Definitions. As
used in this chapter, unless the context otherwise requires, the words and
terms defined in NRS 286.017 to 286.100, inclusive, have the meanings ascribed to them
in such sections.
(Added to NRS by 1975, 1028)
NRS 286.017 “Actuarial computation” defined. “Actuarial
computation” means the computation based on benefits earned and life expectancy
of member and beneficiary to determine necessary reduction of benefits under
retirement options or to determine cost of purchasing additional benefits as
provided in this chapter.
(Added to NRS by 1975, 1028)
NRS 286.020 “Board” defined. “Board”
means the Public Employees’ Retirement Board.
[Part 4:181:1947; A 1949, 174; 1955, 23]—(NRS A 1975,
1029)
NRS 286.025 “Compensation” defined.
1. Except as otherwise provided by
specific statute, “compensation” is the salary paid to a member by the member’s
principal public employer.
2. The term includes:
(a) Base pay, which is the monthly rate of pay
excluding all fringe benefits.
(b) Additional payment:
(1) As applicable to a member who has an
effective date of membership before January 1, 2010, for longevity, shift
differential, hazardous duty, work performed on a holiday if it does not exceed
the working hours of the normal workweek or pay period for that employee,
holding oneself ready for duty while off duty and returning to duty after one’s
regular working hours.
(2) As applicable to a member who has an
effective date of membership on or after January 1, 2010, for longevity, shift
differential, hazardous duty, work performed on a holiday if it does not exceed
the working hours of the normal workweek or pay period for that employee, and,
holding oneself ready for duty while off duty and returning to duty within 12 hours
after one’s regular working hours to respond to an emergency. As used in this
subparagraph, “emergency” means a sudden, unexpected occurrence that is
declared by the governing body or chief administrative officer of the public
employer to involve clear and imminent danger and require immediate action to
prevent and mitigate the endangerment of lives, health or property.
(c) Payment for extra duty assignments if it is
the standard practice of the public employer to include such pay in the
employment contract or official job description for the calendar or academic
year in which it is paid and such pay is specifically included in the member’s
employment contract or official job description.
(d) The aggregate compensation paid by two
separate public employers if one member is employed half-time or more by one,
and half-time or less by the other, if the total does not exceed full-time
employment, if the duties of both positions are similar and if the employment
is pursuant to a continuing relationship between the employers.
3. The term does not include any type of
payment not specifically described in subsection 2.
(Added to NRS by 1975, 1028; A 1977, 1574; 1979, 940; 1981, 444; 1999, 2616; 2009, 2346)
NRS 286.031 “Disability retirement allowance” defined. “Disability retirement allowance” means
monthly payments from the Public Employees’ Retirement Fund or the Police and
Firefighters’ Retirement Fund paid to retired employees with disabilities.
(Added to NRS by 1975, 1028; A 1979, 255; 2003, 2051)
NRS 286.040 “Employee” defined.
1. “Employee” means:
(a) A public officer of the State of Nevada or
its political subdivisions.
(b) Any person employed by a public employer
whose compensation is provided by the public employer and who is under the
direction or control of officers of the public employer.
2. “Employee” does not include independent
contractors or persons rendering professional services to an employer on a fee,
retainer or contract basis.
3. The Board shall determine who are
employees under this definition.
[Part 2:181:1947; A 1949, 174; 1951, 269; 1951,
324]—(NRS A 1959, 161; 1969, 219; 1975, 1029; 1979, 746)
NRS 286.042 “Firefighter” defined. “Firefighter”
means a member who is:
1. Filling a full-time position with a
participating public employer, the principal duties of which require emotional
stability and physical capacity in protecting the public and controlling and
extinguishing fires.
2. The former holder of a position defined
in subsection 1 who has:
(a) Earned at least 2 years of creditable service
in that position; and
(b) Been promoted or transferred within the chain
of command by the same public employer to a position related to protecting the
public and controlling and extinguishing fires.
3. The former holder of a position defined
in subsection 1 who:
(a) Has earned at least 2 years of creditable
service in that position; and
(b) Is employed by a different public employer in
a position that would have been eligible under paragraph (b) of subsection 2
had the member remained with the member’s former employer.
(Added to NRS by 1975, 1028; A 1977, 1574; 1981, 444; 1987, 370; 2003, 2051)
NRS 286.045 “Independent contractor” defined. “Independent
contractor” means any person who renders specified services for a stipulated
fee who is not under the control of a public employer, except as regards the
result of the person’s work, and who does not receive employment benefits such
as annual leave and group insurance.
(Added to NRS by 1975, 1028)
NRS 286.050 “Member” defined. “Member”
means a person:
1. Who is employed by a participating
public employer and who is contributing to the System; or
2. Who has previously been in the employ
of a participating public employer and who has contributed to the System but
who subsequently terminates such employment without withdrawing the person’s
contributions.
[Part 2:181:1947; A 1949, 174; 1951, 269; 1951,
324]—(NRS A 1975, 1029)
NRS 286.061 “Police officer” defined. “Police
officer” means a member who is:
1. Filling a full-time position with a
participating public employer, the principal duties of which require emotional
stability and physical capacity in protecting the public and enforcing the laws
of the State of Nevada or any of its political subdivisions.
2. The former holder of a position defined
in subsection 1 who has:
(a) Earned at least 2 years of creditable service
in that position; and
(b) Been promoted or transferred within the chain
of command by the same public employer to a position related to the protection
of the public and law enforcement.
3. The former holder of a position defined
in subsection 1 who:
(a) Has earned at least 2 years of creditable
service in that position; and
(b) Is employed by a different employer in a
position that would have been eligible under paragraph (b) of subsection 2 had
the member remained with the member’s former employer.
(Added to NRS by 1975, 1028; A 1977, 1575; 1981, 501, 2013; 1985, 1982; 1987, 371)
NRS 286.065 “Postretirement increase” defined. “Postretirement
increase” means the monthly cost-of-living increase added to the monthly
payments of:
1. Persons receiving disability retirement
allowances or service retirement allowances;
2. Beneficiaries of deceased members
receiving allowances; and
3. Persons receiving monthly benefits for
survivors,
Ê pursuant to
the terms of this chapter.
(Added to NRS by 1975, 1028; A 1979, 255)
NRS 286.070 “Public employer” defined.
1. “Public employer” means the State, one
of its agencies or one of its political subdivisions, the System, irrigation
districts created under the laws of the State of Nevada, a public or
quasi-public organization or agency that is funded, at least in part, by public
money, including a regional transportation commission, a governing body of a
charter school and a council of governments created pursuant to the laws of the
State of Nevada.
2. State agencies are those agencies
subject to state control and supervision, including those whose employees are
governed by chapter 284 of NRS, unless
specifically exempted therefrom, and those which deposit money with the State
Treasurer.
[Part 2:181:1947; A 1949, 174; 1951, 269; 1951,
324]—(NRS A 1959, 12, 161; 1969, 219; 1973, 710; 1975, 1029; 1977, 1576; 1979, 255, 1110; 1987, 1395; 1999, 3319; 2003, 2051)
NRS 286.078 “Service” defined. “Service”
means all creditable employment which is validated under the provisions of this
chapter and can be used in determining eligibility and scope of benefits for
members.
(Added to NRS by 1975, 1029)
NRS 286.080 “Service retirement allowance” defined. “Service
retirement allowance” means monthly payments from the Public Employees’
Retirement Fund or the Police and Firefighters’ Retirement Fund paid to a
retired employee for the remainder of the retired employee’s life.
[Part 2:181:1947; A 1949, 174; 1951, 269; 1951,
324]—(NRS A 1975, 1029; 1979, 256; 2003, 2052)
NRS 286.100 “System” defined. “System”
means the Public Employees’ Retirement System established by this chapter.
[Part 2:181:1947; A 1949, 174; 1951, 269; 1951,
324]—(NRS A 1975, 1030)
NRS 286.110 Public Employees’ Retirement System: Establishment; review of
System; use of state services; public inspection of records; liability of
public employers.
1. A system of retirement providing
benefits for the retirement, disability or death of employees of public
employers and funded on an actuarial reserve basis is hereby established and
must be known as the Public Employees’ Retirement System. The System is a
public agency supported by administrative fees transferred from the retirement
funds. The Executive and Legislative Departments of the State Government shall
regularly review the System.
2. The System is entitled to use any
services provided to state agencies and shall use the services of the
Purchasing Division of the Department of Administration, but is not required to
use any other service. The purpose of this subsection is to provide to the
Board the necessary autonomy for an efficient and economic administration of
the System and its program.
3. The official correspondence and
records, other than the files of individual members or retired employees, and,
except as otherwise provided in NRS 241.035,
the minutes, audio recordings, transcripts and books of the System are public
records and are available for public inspection. A copy of the minutes or audio
recordings must be made available to a member of the public upon request at no
charge pursuant to NRS 241.035.
4. The respective participating public
employers are not liable for any obligation of the System.
[3:181:1947; 1943 NCL § 5230.03]—(NRS A 1975, 1030; 1977, 1576; 1993, 474, 1552; 1995, 524; 2005, 1409; 2013, 328)
NRS 286.117 Limitations on review and copying of records; waiver. All records maintained for a member, retired
employee or beneficiary may be reviewed and copied only by the System, the
member, the member’s public employer or spouse, or the retired employee or the
retired employee’s spouse, or pursuant to a court order, or by a beneficiary
after the death of the employee on whose account benefits are received. Any
member, retired employee or beneficiary may submit a written waiver to the
System authorizing the representative of the member, retired employee or
beneficiary to review or copy all such records.
(Added to NRS by 1977, 1573)
ADMINISTRATION
NRS 286.120 System governed by Public Employees’ Retirement Board: Name;
number of members; duties of Governor; removal of members.
1. The governing authority of the System
shall be a board of seven persons appointed by the Governor.
2. The name of the board shall be the
Public Employees’ Retirement Board.
3. The Governor shall review periodically
the broad administrative policies and performance standards as they are being
administered by the Board.
4. The Governor may remove and replace any
Board member for cause shown.
[Part 4:181:1947; A 1949, 174; 1955, 23]—(NRS A 1973,
854, 1412)
NRS 286.130 Qualifications of members of Board; terms.
1. Three members of the Board must be
persons who:
(a) Have had at least 10 years of service as
employees of the State of Nevada or its political subdivisions;
(b) Are not elected officers of the State of
Nevada or its political subdivisions;
(c) Are active members of the System; and
(d) Are appointed from written nominations submitted
by the following groups:
(1) Employees of the State and the Nevada
System of Higher Education;
(2) The academic staff of school
districts;
(3) Employees of cities, excluding Carson
City;
(4) Employees of counties, including
Carson City and excluding employees of county hospitals;
(5) Employees of county hospitals, public
utilities, power districts, sanitation districts, classified school employees
and employees of other districts as determined by the Board; and
(6) Employees whose current positions
entitle them to participate in the Police and Firefighters’ Retirement Fund.
Ê Each nominee
must be a member of the group or organization that is nominating the nominee.
2. Two members of the Board must be
persons who:
(a) Have had at least 10 years of service as
employees of the State of Nevada or its political subdivisions;
(b) Are not elected officers of the State of
Nevada or its political subdivisions;
(c) Are active members of the System; and
(d) Are appointed from written nominations submitted
by the following groups:
(1) Administrators of school districts or
members of boards of trustees of school districts; and
(2) Members of boards of county
commissioners or the governing bodies of cities or administrators of counties
or cities.
3. One member of the Board must be a
person who:
(a) Is an employee of the State of Nevada or its
political subdivisions with at least 10 years of service;
(b) Is serving in a position at least equivalent
to the manager of a department or division;
(c) Is not an elected officer of the State of
Nevada or its political subdivisions; and
(d) Is an active member of the System.
4. One member of the board must be a
person who:
(a) Has had at least 10 years of service as an
employee of the State of Nevada or its political subdivisions;
(b) Is not an elected officer of the State of
Nevada or its political subdivisions; and
(c) Is receiving an allowance for service or
disability retirement pursuant to this chapter.
5. A member of the Board shall serve for 4
years, so long as the member has the qualifications required by this section,
and until the member’s successor is appointed and takes office. A member of the
Board who no longer has the qualifications specified in the subsection under
which the member was appointed may serve the remainder of the member’s term if
the member loses those qualifications in the final 24 months of the member’s
term.
[Part 5:181:1947; A 1949, 174; 1943 NCL §
5230.05]—(NRS A 1973, 1413; 1975, 1030; 1981, 445; 1987, 1522; 1991, 2355; 1993, 381; 2003, 2052)
NRS 286.150 Monthly meetings of Board; certain closed meetings; designation
and term of Chair.
1. The Board shall meet at least once a
month.
2. Meetings of the Retirement Board with
investment counsel which are limited to the planning of future investments or
the establishment of investment objectives and policies, or with legal counsel
which are limited to advice upon claims or suits by or against the System may
be closed by the Board.
3. At its first meeting each year, the
Board shall designate one of its members to serve as Chair of the Board for the
remainder of the year and until the Chair’s successor is designated and takes
office.
[Part 4:181:1947; A 1949, 174; 1955, 23]—(NRS A 1973,
854; 1977, 1576)
NRS 286.160 Persons employed by Board: Appointment; salaries;
qualifications; other employment of Executive Officer prohibited; exceptions.
1. The Board shall employ an Executive
Officer who serves at the pleasure of the Board. The Executive Officer shall select
an Operations Officer, Investment Officer, Assistant Investment Officer,
Manager of Information Systems, Administrative Services Coordinator and
Administrative Analyst whose appointments are effective upon confirmation by
the Board. The Operations Officer, Investment Officer, Assistant Investment
Officer, Manager of Information Systems, Administrative Services Coordinator
and Administrative Analyst serve at the pleasure of the Executive Officer.
2. The Executive Officer, Operations
Officer, Investment Officer, Assistant Investment Officer, Manager of
Information Systems, Administrative Services Coordinator and Administrative
Analyst are entitled to annual salaries fixed by the Board with the approval of
the Interim Retirement and Benefits Committee of the Legislature created
pursuant to NRS 218E.420. The
salaries of these employees are exempt from the limitations of NRS 281.123.
3. The Executive Officer must:
(a) Be a graduate of a 4-year college or
university with a degree in business administration or public administration or
equivalent degree.
(b) Possess at least 5 years’ experience in a
high level administrative or executive capacity, including responsibility for a
variety of administrative functions such as retirement, insurance, investment
or fiscal operations.
4. The Operations Officer, Investment
Officer, Assistant Investment Officer, Manager of Information Systems and Administrative
Analyst must each be a graduate of a 4-year college or university with a degree
in business administration or public administration or an equivalent degree.
5. Except as otherwise provided in NRS 284.143, the Executive Officer shall
not pursue any other business or occupation or perform the duties of any other
office of profit during normal office hours unless on leave approved in
advance. The Executive Officer shall not participate in any business enterprise
or investment in real or personal property if the System owns or has a direct
financial interest in that enterprise or property.
[Part 4:181:1947; A 1949, 174; 1955, 23] + [Part
7:181:1947; 1943 NCL § 5230.07] + [38:295:1953; A 1955, 553]—(NRS A 1967, 1493;
1971, 1429; 1973, 855; 1975, 1031; 1977, 1577; 1979, 746; 1981, 445; 1985, 1709; 1989, 1556; 1995, 250, 2319; 1997, 613; 1999, 3022; 2001, 2401; 2003, 2053; 2007, 500)
NRS 286.170 Administration of System; compensation and removal of employees.
1. Subject to the limitations of this
chapter and the budget prescribed by the Board, the System must be administered
by the Executive Officer, an Investment Officer, an Operations Officer and a
staff authorized by the Board and appointed by the Executive Officer with the
approval of the Board.
2. The Board shall fix the salaries of the
staff in accordance with the pay plan of the State for the classified service.
No employee may be removed from the staff except in the manner provided for the
classified service of the State.
[Part 4:181:1947; A 1949, 174; 1955, 23] + [Part
7:181:1947; 1943 NCL § 5230.07]—(NRS A 1967, 1493; 1971, 1430; 1973, 855; 1975,
1031; 1985, 391;
1989, 1557;
1991, 1970)
NRS 286.180 Compensation and expenses of members of Board.
1. Members of the Board are entitled to
receive a fee of $80 per day for:
(a) Attendance at meetings of the Board;
(b) Any official function directly related to the
System which is approved by the Board; or
(c) Necessary travel to attend a meeting of the
Board or a conference or seminar on retirement or to perform an official
function described in paragraph (b).
2. Fees and reimbursement for expenses
must be paid from the Public Employees’ Retirement Administrative Fund.
3. Fees and reimbursement for expenses
must be paid from commitment fees obtained from borrowers whenever the members
of the Board hold special meetings or perform official functions, as described
in paragraph (b) of subsection 1, which are limited solely to mortgage and real
estate investments.
[Part 4:181:1947; A 1949, 174; 1955, 23]—(NRS A 1971,
1315; 1973, 855; 1975, 1032; 1977, 1577; 1979, 747; 1981, 446; 1985, 392, 1710)
NRS 286.190 General powers and duties of Board. The
Board:
1. Has the powers and privileges of a body
corporate and, subject to the limitations of this chapter, is responsible for
managing the System.
2. Shall:
(a) Arrange for a biennial actuarial valuation
and report of the actuarial soundness of the System to be prepared by an
independent actuary based upon data compiled and supplied by employees of the
System, and shall adopt actuarial tables and formulas prepared and recommended
by the actuary.
(b) Provide for a biennial audit of the System,
including the Administrative Fund, by an independent certified public
accountant.
(c) Provide an annual report to the Governor,
each member of the Legislature, each participating public employer, and each
participating employee and employer association, and make the report available
to all members upon request. The report must contain, when available, a review
of the actuarial valuation required by paragraph (a).
(d) Post on its website any document that a public
employer is required to submit to the System on or after January 1, 2010,
relating to the contribution mechanism used by the public employer pursuant to NRS 286.410, 286.421 or 286.450.
3. May:
(a) Adjust the service or correct the records,
allowance or benefits of any member, retired employee or beneficiary after an
error or inequity has been determined, and require repayment of any money
determined to have been paid by the System in error, if the money was paid
within 6 years before demand for its repayment.
(b) Examine and copy personnel and financial
records of public employers.
(c) Receive requests for membership from state,
county or municipal entities which are not presently public employers, and
determine whether or not any such entity and its employees qualify for
membership as provided by this chapter.
(d) Require an annual notarized statement from a
retired employee or beneficiary that the retired employee or beneficiary is in
fact receiving an allowance or benefits, and withhold the allowance or benefits
if the retired employee or beneficiary fails to provide the statement.
4. As used in this section, “error or
inequity” means the existence of extenuating circumstances, including, but not
limited to, a member’s reasonable and detrimental reliance on representations
made by the System or by the public employer pursuant to NRS
286.288 which prove to be erroneous, or the mental incapacity of the
member.
[Part 4:181:1947; A 1949, 174; 1955, 23]—(NRS A 1975,
1032; 1977,
1577; 1979,
747; 1981,
446; 1989,
1557; 2009,
2347)
NRS 286.200 Rules and regulations of Board: Procedure for adoption;
conditions.
1. Subject to the limitations of this
chapter, the Board shall, from time to time, establish rules and regulations
for transacting its business and for administering the System as a public
agency. The rules must include, without limitation, rules relating to the
administration of the retirement plans in accordance with federal law.
2. No rule is effective until 10 days
after all of the following conditions have been substantially met:
(a) A copy of the rule, in the form in which the
Board proposes it, must be delivered, within 30 days after the Board proposes
it, to all public employers participating in the System.
(b) As soon as a public employer receives a copy
of the proposed rule, the public employer immediately shall cause the copy to
be posted on a bulletin board or in some conspicuous place in or near its
headquarters.
(c) If the Board deems a proposed rule to be of
such length or of such other nature that it cannot feasibly be publicized by
delivery and posting, a summary of the proposed rule must be delivered and
posted in the manner and within the time required by paragraphs (a) and (b) of
this subsection for copies of proposed rules.
(d) There must likewise be posted a notice
stating that, at a specifically designated time and place at least 15 days
after the delivery of the copy of the proposed rule or summary, a hearing on
the proposed rule will be held, at which hearing all interested persons have an
opportunity to be heard and after which the Board may adopt the proposed rule
in the form in which it is originally proposed or with such amendments as are
deemed necessary by the Board as a result of the hearing.
(e) A copy of the rule, in the form in which the
Board finally adopts it, must be filed with the Secretary of State.
[6:181:1947; 1943 NCL § 5230.06]—(NRS A 2001, 2401)
NRS 286.211 Duties of Board: Police and Firefighters’ Retirement Fund.
1. The Board shall, with the advice of the
Interim Retirement and Benefits Committee of the Legislature created pursuant
to NRS 218E.420:
(a) Adopt regulations for the evaluation of
requests for enrollment under the Police and Firefighters’ Retirement Fund; and
(b) Determine those positions eligible under the
early retirement provisions for police officers and firefighters.
2. Service in any position which has not
been determined by the Board to be eligible does not entitle a member to early
retirement as a firefighter or police officer.
(Added to NRS by 1987, 370; A 1999, 3022; 2003, 2054)
NRS 286.215 Duties of Board: Calculation and determination of contributions,
benefits and service credit related to qualified military service. Notwithstanding any other provision of this
chapter, the Board shall provide for the calculation and determination of
contributions, benefits and service credit relating to qualified military
service as defined in section 414(u) of the Internal Revenue Code (26 U.S.C. §
414(u)).
(Added to NRS by 1997, 214)
NRS 286.220 Public Employees’ Retirement Fund.
1. The Board shall establish a fund known
as the Public Employees’ Retirement Fund.
2. It is hereby declared to be the policy
of the Legislature that the Public Employees’ Retirement Fund is a trust fund
established to afford a degree of security to long-time public employees of the
State and its political subdivisions. The money in the Fund must not be used or
appropriated for any purpose incompatible with the policy of the Public
Employees’ Retirement System, as expressed in NRS
286.015. The Fund must be invested and administered to assure the highest
return consistent with safety in accordance with accepted investment practices.
3. The interest and income earned on the
money in the Public Employees’ Retirement Fund, after deducting any applicable
charges, must be credited to the Fund.
4. Money in the Public Employees’
Retirement Fund must be expended by the Board for the purpose of paying:
(a) Service retirement allowances;
(b) Disability retirement allowances;
(c) Postretirement allowances;
(d) Benefits for survivors;
(e) Authorized refunds to members and their
beneficiaries;
(f) Amounts equivalent to disability retirement allowances
to be used by employers for rehabilitation; and
(g) Allowances to beneficiaries,
Ê and for the
payment of expenses authorized by law to be paid from the Fund.
5. Contributions from members and from
participating public employers to the Public Employees’ Retirement Fund must be
deposited in a bank or credit union of reputable standing in the State of
Nevada. Such deposits must be secured in a manner satisfactory to the Board.
6. All checks drawn upon the Public
Employees’ Retirement Fund must be signed by two persons designated by the
Board.
[Part 10:181:1947; A 1949, 174; 1953, 129]—(NRS A
1965, 89; 1973, 856, 997; 1975, 1033; 1977, 1578; 1979, 256; 1983, 1583; 1999, 1466)
NRS 286.225 Police and Firefighters’ Retirement Fund.
1. The Board shall establish a separate
retirement fund known as the Police and Firefighters’ Retirement Fund.
2. All refunds, disability retirement
allowances, benefits for survivors, and service retirement allowances paid to
police officers and firefighters and their beneficiaries must be paid from the
Police and Firefighters’ Retirement Fund.
3. All contributions paid by and for
police officers and firefighters must be credited to the Police and
Firefighters’ Retirement Fund.
4. The Police and Firefighters’ Retirement
Fund must be administered by the Board and is subject to all restrictions and
regulations applicable to the Board.
5. Any postretirement increase
appropriated by the Legislature in accordance with this chapter must be paid to
eligible retired police officers and firefighters and their beneficiaries from
any such appropriation.
6. Investment return on moneys in the
Police and Firefighters’ Retirement Fund must be deposited in that Fund at the
end of each fiscal year based on annual average yield of the System.
7. The Board shall transfer appropriate
employee and employer contributions made by and for members who transfer to and
from the Public Employees’ Retirement Fund and the Police and Firefighters’
Retirement Fund.
(Added to NRS by 1975, 1033; A 1977, 1579; 1979, 257; 2003, 2054)
NRS 286.227 Police and Firefighters’ Retirement Fund Advisory Committee.
1. There is hereby created a Police and
Firefighters’ Retirement Fund Advisory Committee. The Board shall determine the
number of its members and appoint the members.
2. The term of each member is 4 years.
3. The Board may remove a member for
cause.
4. The Committee shall make
recommendations to the Board concerning the administration of and benefits
payable from the Police and Firefighters’ Retirement Fund. The Board shall
consult with the Committee on all matters concerning this Fund, and consider
its recommendations upon their merits.
(Added to NRS by 1977, 1572; A 2003, 2054; 2009, 2348)
NRS 286.230 Public Employees’ Retirement Administrative Fund.
1. The Board shall establish a fund known
as the Public Employees’ Retirement Administrative Fund in which must be
deposited all administrative fees.
2. The Board shall fix an administrative
fee per capita sufficient to pay the operating expense of the System. Except as
otherwise provided by NRS 1A.200 and 218C.160, the System shall transfer
monthly from the respective retirement funds to the Public Employees’
Retirement Administrative Fund the amount of the per capita fee multiplied by
the combined number of members and persons receiving allowances from that Fund.
3. The Board may establish a separate and
additional administrative fee for police officers and firefighters and their
public employers to pay the additional expense of maintaining a separate fund
and to pay the actual and necessary travel expenses and other expenses, within
the limits established by the Board, for meetings of the Police and
Firefighters’ Retirement Fund Advisory Committee.
[Part 10:181:1947; A 1949, 174; 1953, 129]—(NRS A
1975, 1034; 1977,
1579; 1979,
748; 1981,
447; 1991,
2356; 2001
Special Session, 94; 2003, 2054)
NRS 286.241 Fund to pay accrued benefits that are not payable because of
certain limitations; benefits paid from employer contributions.
1. The Board may establish a fund to pay
the accrued benefits of a member that are not payable because of the
limitations set forth in NRS 286.537. The fund must
be established in accordance with the provisions of section 415(m) of the
Internal Revenue Code (26 U.S.C. § 415(m)) and must be separate from the Public
Employees’ Retirement Fund.
2. If the Board establishes a fund
pursuant to subsection 1, the benefits that are required to be paid from the
fund must be paid from a portion of the employer contributions required to be
paid pursuant to NRS 286.450. The Board shall:
(a) Determine the amount of the employer
contributions that must be allocated to the fund; and
(b) Deposit that amount in the fund before it
deposits any remaining employer contributions in the Public Employees’
Retirement Fund.
(Added to NRS by 1997, 215)
NRS 286.260 Individual accounts of members; liability of Board upon return
of contributions.
1. The Board shall provide for an
individual account for each member of the System. Each account must show the
amount of the member’s contributions to the Public Employees’ Retirement Fund
or Police and Firefighters’ Retirement Fund and any changes in the account that
may be legally authorized.
2. Any interest paid by a member with the
repayment of withdrawn contributions or purchase of any service must not be
credited to such member’s account.
3. The Board is relieved of any further
liability regarding a member, the member’s estate or a beneficiary upon the
return of all employee contributions to the member, the member’s estate or
beneficiary or a combination thereof.
[Part 10:181:1947; A 1949, 174; 1953, 129]—(NRS A
1975, 1034; 2003,
2055)
NRS 286.265 Notice to Public Employees’ Benefits Program regarding certain
changes in payment status of benefit recipients. The
System shall provide to the Public Employees’ Benefits Program written notice
regarding a change in the payment status of a recipient of benefits provided
pursuant to this chapter that affects the eligibility of the recipient to
participate in the Program. Such notice must be provided by the System to the
Program, in a format agreed upon by the System and the Program, within 30 calendar
days after the System is notified of the change in payment status.
(Added to NRS by 2003, 3259)
NRS 286.282 Chief of Budget Division to advise Governor concerning review of
System’s policies and performance. The
Chief of the Budget Division of the Department of Administration shall advise
the Governor in the discharge of the responsibility for reviewing the System’s
administrative policies and performance standards under this chapter.
(Added to NRS by 1973, 859; A 1983, 182)
NRS 286.287 Board to consider investments: Meetings; duties. The Board shall meet at least monthly to
consider investments. At each of its meetings it shall:
1. Review, and if appropriate direct
changes in, the investment portfolio of the System.
2. Recommend any appropriate changes in
the investment objectives and policies.
3. Acknowledge and process investment
suggestions forwarded to it by members of the System.
4. Provide for investment practice
explanations to all members of the System when such explanations seem
appropriate.
(Added to NRS by 1973, 859; A 1975, 1035; 1977, 1580)
NRS 286.288 Liaison officer between System and members or employers;
responsibility of System for inaccurate or misleading information. Each participating public employer or group of
such employers shall select an employee as liaison officer to certify records
and coordinate matters pertaining to retirement between the System and members
or participating public employers. The System is responsible for any inaccurate
or misleading information provided to any person or agency by an officer or
employee of the System but is not responsible for inaccurate or misleading
information provided by an officer or employee of a participating public
employer or any other person.
(Added to NRS by 1975, 1035; A 1979, 748; 2009, 1575)
MEMBERSHIP
NRS 286.290 Conditions for membership in System.
1. No person may become a member of the
System unless the person is in the service of a public employer.
2. Except as otherwise provided in this
chapter, all public employers shall participate in the System and their
employees shall be members of the System.
[Part 8:181:1947; A 1949, 174; 1951, 269]
NRS 286.293 Persons required to participate in System.
1. The following employees of public
employers shall participate in the System:
(a) Those employed on or after July 1, 1977, in
positions considered to be half-time or more according to the full-time work
schedule established for that public employer.
(b) Elected officials or persons appointed to
elective positions who are elected or appointed after July 1, 1975, except
where excluded by NRS 286.297 and except justices
of the peace and municipal judges who are allowed and who elect to participate
in the Judicial Retirement Plan pursuant to NRS 1A.285.
(c) A member whose allowance is vested or who is
contributing immediately before a legislative session who is employed on or
after January 1, 1981, by either house of the Legislature or by the Legislative
Counsel Bureau.
(d) A member of the Nevada Gaming Commission.
2. The Board shall establish standards for
determining what constitutes a full-time work schedule pursuant to paragraph
(a) of subsection 1.
(Added to NRS by 1975, 1038; A 1977, 1580; 1981, 448; 1999, 2616; 2005, 1000)
NRS 286.297 Persons excluded from membership in System. The following persons are not eligible to
become members of the System:
1. Inmates of state institutions even
though they may be receiving compensation for services performed for the
institution.
2. Independent contractors or persons
rendering professional services on a fee, retainer or contract basis.
3. Except as otherwise provided in NRS 286.525, persons retired under the provisions of
this chapter who are employed by a participating public employer.
4. Members of boards or commissions of the
State of Nevada or of its political subdivisions when such boards or
commissions are advisory or directive and when membership thereon is not
compensated except for expenses incurred. Receipt of a fee for attendance at
official sessions of a particular board or commission does not constitute
compensation for the purpose of this subsection.
5. Substitute teachers and students who are
employed by the institution which they attend.
6. District judges, judges of the Court of
Appeals and justices of the Supreme Court first elected or appointed on or
after July 1, 1977, who are not enrolled in the System at the time of election
or appointment.
7. Members of the professional staff of
the Nevada System of Higher Education who are employed on or after July 1,
1977.
8. Persons employed on or after July 1,
1979, under the Comprehensive Employment and Training Act.
9. Except as otherwise provided in NRS 286.293, persons assigned to intermittent or
temporary positions unless the assignment exceeds 6 consecutive months.
10. Persons employed on or after July 1,
1981, as part-time guards at school crossings.
11. Nurses who:
(a) Are not full-time employees;
(b) Are paid an hourly wage on a daily basis;
(c) Do not receive the employee benefits received
by other employees of the same employer; and
(d) Do not work a regular schedule or are
requested to work for a shift at a time.
[Part 8:181:1947; A 1949, 174; 1951, 269]—(NRS A
1975, 1039; 1977,
1581; 1979,
750, 941;
1981, 449; 1983, 129; 1989, 1558; 1993, 382, 474; 1995, 524; 2013, 1774)
NRS 286.300 Purchase of credit for service: Requirements; sources; refund of
contributions; defaults. Except as
otherwise required as a result of NRS 286.537:
1. Any member of the System may, except as
otherwise provided in subsection 5, purchase all previous creditable service
performed with the member’s present employing agency if that service was
performed before the enrollment of the member’s agency in the System, even if
the service is still creditable in some other system where it cannot be
cancelled. The public employer must certify the inclusive dates of employment
and number of hours regularly worked by the member to validate the service. The
member must pay the full actuarial cost as determined by the actuary.
2. In addition to the purchases authorized
pursuant to the provisions of subsections 1 and 3, any member who has 5 years
of creditable service may, except as otherwise provided in subsection 5,
purchase up to 5 years of service. The member must pay the full actuarial cost
of the service as determined by an actuary of the System.
3. In addition to the purchases authorized
pursuant to the provisions of subsections 1 and 2 and in addition to any free
credit received pursuant to NRS 286.303 and 286.479, any member who has 5 years of creditable
service, served on active military duty during the period beginning on the date
proclaimed by the President of the United States as the date on which Operation
Desert Storm, Operation Enduring Freedom or Operation Iraqi Freedom began and
was honorably discharged or released from active duty may, except as otherwise
provided in subsection 5, purchase a number of months of service equal to the
number of full months the member served on active military duty, but in no case
may the service purchased pursuant to this subsection exceed 3 years. The
member must pay the full actuarial cost of the service as determined by an
actuary of the System.
4. In addition to the purchases authorized
pursuant to the provisions of subsections 1 and 3, any member who:
(a) Is a licensed teacher;
(b) Has 5 years of creditable service;
(c) Is, pursuant to statute, regulation or
contract, entitled to payment for unused sick leave; and
(d) Is employed by the board of trustees of a
school district that has, pursuant to subsection 5 of NRS 391.180, provided for the payment of
unused sick leave in the form of purchase of service,
Ê may, except
as otherwise provided in subsection 5, cause to be purchased on the member’s
behalf service credit, not to exceed the number of hours of unused sick leave
or 1 year, whichever is less. The full actuarial cost of the service as
determined by an actuary of the System must be paid for such a purchase. Any
service credit purchased pursuant to this subsection must be included as a part
of, and is not in addition to, service purchased pursuant to subsection 2.
5. A person who becomes a member of the
System for the first time on or after January 1, 2000, may, on or after July 1,
2001, purchase creditable service pursuant to subsection 1, 2 or 3, or cause to
be purchased on the person’s behalf service credit pursuant to subsection 4,
only if, at the time of the purchase, the person is employed by a participating
public employer in a position eligible for membership in the System.
6. Any member of the System may use:
(a) All or any portion of the balance of the member’s
interest in a qualified trust pursuant to section 401(a) of the Internal
Revenue Code, 26 U.S.C. § 401(a); or
(b) The money contained in an individual
retirement account or an individual retirement annuity of a member, the entire
amount of which is:
(1) Attributable to a qualified
distribution from a qualified trust pursuant to section 401(a) of the Internal
Revenue Code, 26 U.S.C. § 401(a); and
(2) Qualified as an eligible rollover
distribution pursuant to section 402 of the Internal Revenue Code, 26 U.S.C. §
402,
Ê to purchase
creditable service pursuant to subsection 1, 2 or 3.
7. A member of the System who purchases
creditable service pursuant to subsection 1, 2 or 3 is entitled to receive a
refund of any contributions paid toward the purchase of the service only if the
member is no longer in the employ of a participating public employer.
8. If a member of the System enters into
an agreement whereby the member agrees to pay for the purchase of service
credit in installments and the member defaults on that agreement, the member is
entitled to receive service credit in the proportion that the principal paid
bears to the principal due under the agreement.
[Part 8:181:1947; A 1949, 174; 1951, 269]—(NRS A
1960, 472; 1963, 986; 1969, 854; 1975, 1035; 1979, 257, 748, 1110; 1981, 110, 447; 1985, 1710; 1989, 1559; 1991, 2357; 1999, 1558, 2617; 2001, 2402; 2003, 2055; 2005, 949)
NRS 286.3005 Purchase of credit for service: Public employer may purchase
credit for member. A state agency
may purchase credit for service on behalf of a member only as provided in NRS 286.3007. Except as otherwise required as a
result of NRS 286.537, any other public employer
may pay any portion of the cost to purchase credit for service under NRS 286.300, but is not required to do so. No credit
may be validated unless the cost of purchasing credit has been paid.
(Added to NRS by 1979, 759; A 1981, 111; 1985, 1022, 1711; 1989, 1560; 1991, 2357; 1999, 1965; 2007, 23rd
Special Session, 18)
NRS 286.3007 Purchase by state agency of credit for service: Conditions. Except as otherwise required as a result of NRS 286.537:
1. A state agency may enter into an
agreement to pay the cost of purchasing credit for service pursuant to NRS 286.300 on behalf of a member if:
(a) The agency enters into the agreement before
the member is employed;
(b) The member is employed upon the condition
that the employer pay the cost of purchasing the credit; and
(c) The agreement to pay the cost of purchasing
the credit is in writing, becomes part of the personnel records of the employee
and is approved in advance by the State Board of Examiners.
2. If a state agency is authorized to
purchase credit pursuant to subsection 1, it shall not do so until the member
has completed 1 year of service in its employ.
3. If a state agency is required to reduce
the number of its employees, it shall purchase credit for service pursuant to NRS 286.300 for any member who:
(a) Is eligible to purchase credit;
(b) Is eligible to retire or will be made
eligible by the purchase of the credit;
(c) Agrees to retire upon completion of the purchase;
and
(d) Has been employed by the agency for 5 or more
years.
4. If a state agency is required to
purchase credit pursuant to subsection 3, it shall pay 5 percent of the cost of
purchasing the credit and an additional 5 percent of the cost for each year
that the person has been employed by the agency in excess of the minimum
requirement of 5 years.
(Added to NRS by 1985, 1022; A 1991, 2357; 1999, 1198)
NRS 286.301 Credit for free prior service. A
member who met all requirements for free prior service but who did not have 10
years of service credit as of July 1, 1975, is entitled to credit for free
prior service as soon as the member acquires the necessary 10 years of service
credit.
(Added to NRS by 1977, 1573)
NRS 286.303 Free credit for military service. A
member who met all requirements for free military credit as of May 19, 1975,
but who did not have 5 years of consecutive service credit after the member’s
return from the Armed Forces, is entitled to free credit for military service
as soon as the member attains 5 years of consecutive service credit under the
System.
(Added to NRS by 1977, 1573)
NRS 286.365 Eligibility of civilian employees of Nevada National Guard for
membership in System.
1. Notwithstanding the provisions of any
other section of this chapter, the Nevada National Guard shall be deemed an
employing agency of the State of Nevada for the purpose of membership of the
civilian employees of the Nevada National Guard in the System.
2. Except as otherwise required as a
result of NRS 286.537, the membership of the
civilian employees of the Nevada National Guard in the System may be
retroactive at the option of the individual employee upon payment of all
employee contributions for prior service. Contributions for prior service may
be paid as provided in NRS 286.440.
3. No civilian employee of the Nevada
National Guard is entitled to become or continue as a member of the System if
such employee has or obtains retirement coverage for such employee’s position
as a civilian employee under a retirement program administered by the United
States Government, to the end that no dual coverage results.
(Added to NRS by 1960, 296; A 1991, 2358)
NRS 286.367 Eligibility of volunteer firefighters for membership in System:
Contributions; average compensation; purchase of credit for service as
volunteer firefighter and for certain military service.
1. The volunteers of a regularly organized
and recognized fire department may, by the joint application of a majority of
those volunteers addressed to the Board, become members of the System. A
volunteer firefighter who joins a fire department of which all the volunteers
have become members of the System becomes a member of the System. The
volunteers of a participating fire department may withdraw from the System by
the joint application of a majority of those volunteers addressed to the Board.
2. The city, town, county or district
which recognizes the volunteers is the public employer and shall collect and
pay over the employee’s share and pay the employer’s share of the contribution
to the Public Employees’ Retirement Fund and the Public Employees’ Retirement
Administrative Fund, in the manner prescribed in this chapter. The local
government may, if so requested by the volunteers, further contribute any
amount by which the sum receivable by each volunteer for any month is less than
the amount of the volunteer’s required share of the contribution, but no
further contributions may be placed in a volunteer’s account with the System or
refunded to a volunteer or the volunteer’s employer upon the volunteer’s
termination.
3. In determining the amount of
contributions to be paid for the volunteers, they are assumed to be receiving a
wage established by the local government which is not less than $150 nor more
than $2,000 per month.
4. Except as otherwise required as a result
of NRS 286.535 or 286.537,
the average compensation for a volunteer firefighter is the weighted average
of:
(a) The assumed wage as a volunteer firefighter;
and
(b) The average salary in other covered
employment which, if the service in that employment exceeds 3 years, is
calculated upon the 3 highest consecutive years.
Ê The weight
given to the assumed wage and average salary, respectively, is proportionate to
the length of service in each capacity. Except as otherwise required as a
result of NRS 286.535 or 286.537,
average compensation is computed from the sum of the assumed wage and actual
salary if a member is employed simultaneously as a volunteer firefighter and as
a regular member.
5. Any dispute over the status of a person
as a volunteer firefighter under this section must be conclusively determined
by the Board.
6. A volunteer firefighter may purchase
all previous service as a volunteer firefighter with any volunteer fire
department which is a member of the System. To validate such service, the
volunteer firefighter must pay the full cost as determined by the actuary. The
employing agency may pay the employer’s share of the cost but is not required
to do so.
7. In addition to the purchases authorized
pursuant to the provisions of subsections 6 and 8, a volunteer firefighter who
has 5 years of creditable service as a volunteer firefighter may purchase up to
5 years of service to add to the member’s volunteer service. The member must
pay the full actuarial cost of the service as determined by an actuary of the
System.
8. In addition to the purchases authorized
pursuant to the provisions of subsections 6 and 7 and in addition to any free
credit received pursuant to NRS 286.303 and 286.479, a volunteer firefighter who has 5 years of
creditable service as a volunteer firefighter, served on active military duty
during the period beginning on the date proclaimed by the President of the
United States as the date on which Operation Desert Storm, Operation Enduring
Freedom or Operation Iraqi Freedom began and was honorably discharged or
released from active duty may purchase a number of months of service equal to
the number of full months the member served on active military duty, but in no
case may the service purchased pursuant to this subsection exceed 3 years. The
member must pay the full actuarial cost of the service as determined by an
actuary of the System.
(Added to NRS by 1969, 1147; A 1975, 1039; 1977, 1582; 1985, 791, 1711; 1989, 1561; 1991, 2359; 2003, 2056; 2005, 889, 950)
NRS 286.370 Procedure for integration of previously established retirement
systems.
1. Employees whose membership in a
previously established retirement system excludes them from membership in the
System established by this chapter may apply to the Board in writing for the
former system to be integrated into the latter System and for them to become
members of the latter System. Whenever two-thirds of them and their employer,
through its governing body, chief official or department head so apply, the
Board may:
(a) Cause a financial and actuarial investigation
of the proposed integration to be made, the cost of which shall be borne by the
previously established system; and
(b) Upon such terms as are set forth in a
contract between the Board and the employer, integrate the previously
established system into the System established by this chapter.
2. The contract shall have no effect until
notice and hearing regarding it are afforded in the manner prescribed in NRS 286.200 for the promulgation of rules by the
Board.
3. Nothing in this chapter nor any action
taken pursuant to it shall reduce or impair the benefits which employees who
are receiving benefits from a retirement system integrated with the System
provided by this chapter would have received had the integration not been
effected.
[9(1):181:1947; 1943 NCL § 5230.09]
NRS 286.385 Public employee on leave of absence to serve in Nevada
Legislature may remain member of System. Except
as otherwise required as a result of NRS 286.535 or
286.537:
1. A public employee on a leave of absence
to serve in the Nevada Legislature may remain a contributing member of the
System during the leave of absence if retirement contributions to the System
are paid by the Legislator at the contribution rate otherwise applicable to the
public employee as a public employee during the period in which the public
employee is on the leave of absence to serve in the Nevada Legislature.
2. When a public employee on a leave of
absence to serve in the Nevada Legislature continues to be a contributing
member of the System pursuant to subsection 1, the employee shall pay the
contributions required directly to the System. The System shall ensure that the
employer of the public employee who is on a leave of absence to serve in the
Nevada Legislature provides to the System documentation of the period during
which the employee is on the leave of absence. The public employer is not
required to pay the employer contribution during the leave of absence.
3. A public employee on a leave of absence
to serve in the Nevada Legislature may elect to have the amount deducted
pursuant to NRS 218C.390 paid to the
System to partially offset the contributions that the employee is required to
pay to remain a member of the System.
4. A public employee who makes the
election authorized pursuant to this section does not accrue any service credit
for retirement under the Legislators’ Retirement System after the date of the
public employee’s election pursuant to this section becomes effective.
5. For the purposes of this section,
“compensation” shall be deemed to be the salary paid for the position from
which the employee is on leave.
(Added to NRS by 1999, 2615)
NRS 286.391 Public employee on leave to work for employee or employer
association may remain member of System; purchase of credit for service.
1. A public employee on leave to work for
a recognized employee or employer association may remain a member of the System
if retirement contributions to the System are continued.
2. When an employee on leave continues to
be a member of the System, the public employer from whom the employee is on
leave shall include the payment of the contributions and all other required
information on the employee’s regular monthly retirement report as provided in NRS 286.460. The public employer is not required to
pay the employer contribution.
3. Except as otherwise required as a
result of NRS 286.535 or 286.537,
for the purposes of this section, “compensation” shall be deemed to be the
salary paid for the position from which the employee is on leave.
4. Except as otherwise required as a
result of NRS 286.537, any member of the System may
purchase credit for any period on or after July 1, 1947, for which
contributions were not paid, which qualifies under this section. The member
must pay the full actuarial costs determined by the actuary.
(Added to NRS by 1981, 443; A 1985, 1712; 1991, 2360)
NRS 286.401 Termination of membership; rights of retired employee. Membership of an employee in the System
terminates upon:
1. The death of a member.
2. The withdrawal of contributions from a
member’s account.
3. Receipt of retirement allowances by a
member.
4. Receipt of disability allowances by a
member.
Ê A retired
employee is not entitled to any right conferred by this chapter upon a member
unless the provision conferring that right expressly states that it is
conferred upon a retired employee.
(Added to NRS by 1975, 1040; A 1977, 1583)
CONTRIBUTIONS
NRS 286.410 Amount of contribution by members of System; deduction from
payroll; return of contributions; members with disabilities.
1. The employee contribution rate must be:
(a) The matching contribution rate for employees
and employers that is actuarially determined for police officers and
firefighters and for regular members, depending upon the retirement fund in
which the member is participating.
(b) Except as otherwise provided in subsection 2,
adjusted on the first monthly retirement reporting period commencing on or
after July 1 of each odd-numbered year based on the actuarially determined
contribution rate indicated in the biennial actuarial valuation and report of
the immediately preceding year. The adjusted rate must be rounded to the
nearest one-quarter of 1 percent.
2. The employee’s portion of the matching
contribution rate for employees and employers must not be adjusted in
accordance with the provisions of paragraph (b) of subsection 1 if:
(a) The existing rate is lower than the
actuarially determined rate but within one-quarter of 1 percent of the
actuarially determined rate.
(b) The existing rate is higher than the
actuarially determined rate but is within 1 percent of the actuarially
determined rate. If the existing rate is more than 1 percent higher than the actuarially
determined rate, the existing rate must be reduced by the amount by which it
exceeds 1 percent above the actuarially determined rate.
3. From each payroll during the period of
the employee’s membership, the employer shall deduct the amount of the member’s
contributions and transmit the deduction to the Board at intervals designated
and upon forms prescribed by the Board. The contributions must be paid on
compensation earned by a member from the member’s first day of service.
4. Any employee whose position is
determined after July 1, 1971, to be eligible under the early retirement
provisions for police officers and firefighters shall contribute the additional
contributions required of police officers and firefighters from July 1, 1971,
to the date of the employee’s enrollment under the Police and Firefighters’
Retirement Fund, if employment in this position occurred before July 1, 1971,
or from date of employment in this position to the date of the employee’s
enrollment under the Police and Firefighters’ Retirement Fund, if employment
occurs later.
5. Except as otherwise provided in NRS 286.430, the System shall guarantee to each member
the return of at least the total employee contributions which the member has
made and which were credited to the member’s individual account. These
contributions may be returned to the member, the member’s estate or beneficiary
or a combination thereof in monthly benefits, a lump-sum refund or both.
6. Members with disabilities who are
injured on the job and receive industrial insurance benefits for temporary
total disability remain contributing members of the System for the duration of
the benefits if and while the public employer continues to pay the difference
between these benefits and the member’s regular compensation. The public
employer shall pay the employer contributions on these benefits.
[Part 14:181:1947; A 1949, 174; 1951, 76, 269]—(NRS A
1959, 880; 1963, 987; 1965, 401; 1967, 741; 1969, 855; 1971, 622; 1973, 1413;
1975, 1040; 1977,
1583; 1981,
449; 1983,
479; 1985,
1713; 1993,
475; 2003,
2057; 2009,
2348)
NRS 286.421 Payment of contributions by employer on behalf of employee;
average compensation; total rate of contribution.
1. A public employer that elected to pay
on behalf of its employees the contributions required by subsection 1 of NRS 286.410 before July 1, 1983, shall continue to do
so, but a public employer may not elect to pay those contributions on behalf of
its employees on or after July 1, 1983.
2. An employee of a public employer that
did not elect to pay on behalf of its employees the contributions required by
subsection 1 of NRS 286.410 before July 1, 1983,
may elect to:
(a) Pay the contribution required by subsection 1
of NRS 286.410 on the employee’s own behalf; or
(b) Have the employee’s portion of the
contribution paid by the employee’s employer pursuant to the provisions of NRS 286.425.
3. Except for any person chosen by
election or appointment to serve in an elective office of a political
subdivision or as a district judge, a judge of the Court of Appeals or a
justice of the Supreme Court of this State:
(a) Payment of the employee’s portion of the
contributions pursuant to subsection 1 must be:
(1) Made in lieu of equivalent basic
salary increases or cost-of-living increases, or both; or
(2) Counterbalanced by equivalent reductions
in employees’ salaries.
(b) The average compensation from which the
amount of benefits payable pursuant to this chapter is determined must be
increased with respect to each month beginning after June 30, 1975, by 50
percent of the contribution made by the public employer, and must not be less
than it would have been if contributions had been made by the member and the
public employer separately. In the case of any officer or judge described in
this subsection, any contribution made by the public employer on the officer’s
or judge’s behalf does not affect the officer’s or judge’s compensation but is
an added special payment.
4. Employee contributions made by a public
employer must be deposited in either the Public Employees’ Retirement Fund or
the Police and Firefighters’ Retirement Fund as is appropriate. These
contributions must not be credited to the individual account of the member and
may not be withdrawn by the member upon the member’s termination.
5. The membership of an employee who
became a member on or after July 1, 1975, and all contributions on whose behalf
were made by the member’s public employer must not be cancelled upon the
termination of the member’s service.
6. If an employer is paying the basic
contribution on behalf of an employee, the total contribution rate, in lieu of
the amounts required by subsection 1 of NRS 286.410
and NRS 286.450, must be:
(a) The total contribution rate for employers
that is actuarially determined for police officers and firefighters and for
regular members, depending upon the retirement fund in which the member is
participating.
(b) Except as otherwise provided in subsection 7,
adjusted on the first monthly retirement reporting period commencing on or
after July 1 of each odd-numbered year based on the actuarially determined
contribution rate indicated in the biennial actuarial valuation and report of
the immediately preceding year. The adjusted rate must be rounded to the
nearest one-quarter of 1 percent.
7. The total contribution rate for employers
must not be adjusted in accordance with the provisions of paragraph (b) of
subsection 6 if:
(a) The existing rate is lower than the
actuarially determined rate but is within one-half of 1 percent of the
actuarially determined rate.
(b) The existing rate is higher than the
actuarially determined rate but is within 2 percent of the actuarially
determined rate. If the existing rate is more than 2 percent higher than the
actuarially determined rate, the existing rate must be reduced by the amount by
which it exceeds 2 percent above the actuarially determined rate.
8. For the purposes of adjusting salary
increases and cost-of-living increases or of salary reduction, the total
contribution must be equally divided between employer and employee.
9. Public employers other than the State
of Nevada shall pay the entire employee contribution for those employees who
contribute to the Police and Firefighters’ Retirement Fund on and after July 1,
1981.
(Added to NRS by 1975, 1042; A 1977, 1584; 1979, 941; 1981, 440; 1983, 1647, 1930, 2048; 1985, 1713, 1983; 1987, 372; 1989, 1023; 1991, 469; 1993, 476; 1999, 3329; 2003, 2058; 2009, 2349;
2013, 1774)
NRS 286.425 Election by employee to have employer pay contributions. At any time after January 1, 1984, an employee
who is paying the employee’s contribution on the employee’s own behalf may
elect to have the employee’s portion of the contribution paid by the employee’s
employer in the manner provided in NRS 286.421. An
employee who makes such an election may not thereafter convert to paying the
employee’s own contributions.
(Added to NRS by 1983, 1930)
NRS 286.430 Withdrawal of contributions.
1. Except as otherwise provided in
subsection 8 and NRS 286.300, a member may withdraw
the employee contributions credited to the member’s individual account if:
(a) The member has terminated service for which
contribution is required; or
(b) The member is employed in a position for
which contribution is prohibited.
2. The System shall not refund these
contributions until it has received:
(a) A properly completed application for refund;
(b) A notice of termination from the member’s
public employer or a certification by the public employer that the member is
employed in a position for which contribution is prohibited; and
(c) Except as otherwise provided in subsection 3,
all contributions withheld from such member’s compensation.
3. If a member submits an application for
a refund of the member’s contributions before all of the member’s contributions
which were withheld have been remitted, the System may refund the portion of
the member’s contributions which it has received.
4. If it is determined, after the System
has refunded the contributions of a member, that an additional amount of less
than $10 is due to the member, a refund of that amount need not be paid.
5. Refunds, pursuant to this section, must
be made by check mailed to the address specified by a member in the member’s
application for refund.
6. The System shall transfer all money
retained pursuant to subsection 4 and the amount of any unclaimed refund checks
to the Public Employees’ Retirement Fund or the Police and Firefighters’
Retirement Fund.
7. All membership rights and active
service credit in the System, including service for which the public employer
paid the employee contributions, are cancelled upon the withdrawal of
contributions from a member’s account.
8. A member who transfers to a position
for which contribution is prohibited must remain in that position for at least
90 days before the member is eligible to receive a refund pursuant to this
section.
[Part 16:181:1947; A 1949, 174; 1951, 269; 1955,
117]—(NRS A 1963, 988; 1965, 955; 1975, 1043; 1977, 1585; 1979, 258; 1981, 450; 1983, 480; 1987, 681; 2001, 2403; 2003, 2059)
NRS 286.435 Repayment upon retroactive reinstatement. Except as otherwise required as a result of NRS 286.537:
1. Any member whose employment is
involuntarily terminated and who is thereafter reinstated retroactively to
employment with a participating public employer by order of any administrative
or judicial authority, or by the terms of any settlement agreement, shall pay
to the System:
(a) Any employee contributions which were
refunded to the member;
(b) Any service or disability allowance which was
paid to the member;
(c) All employee contributions which would have
been made on the back pay awarded to the member; and
(d) The interest on any amount due from the date
on which:
(1) The member received the money to be
repaid pursuant to paragraph (a) or (b); and
(2) Each contribution would have been made
on the money due pursuant to paragraph (c),
Ê to the date
of payment at the assumed investment income rate used in the most recent
actuarial valuation of the System.
2. The employer shall deduct from any back
pay awarded or granted to the member all money due pursuant to subsection 1 and
forward this amount to the System. If the amount of back pay awarded or granted
to the member is not sufficient to pay all of the money due pursuant to
subsection 1, the member shall pay any balance due to the System under a
reasonable plan for payment established by the System.
3. Upon receipt by the System of the full
amount due pursuant to subsection 1, the member is entitled to all the
membership rights and service credit which were cancelled by the member’s
involuntary termination.
(Added to NRS by 1983, 491; A 1989, 1562; 1991, 2360)
NRS 286.440 Redeposit of withdrawn contributions upon return to service:
Procedure.
1. Whenever a member, who has previously
withdrawn the amount credited to the member as provided in NRS 286.430, returns to the service of a public
employer participating in the System and remains a contributing member for 6
months, the member may:
(a) Make repayment in a lump sum plus interest
from the date the member withdrew the member’s contributions to the date of
repayment; or
(b) With the approval of the Executive Officer,
enter into an agreement containing a schedule of payments to repay the
withdrawn contributions plus interest from the date of withdrawal to the date
of repayment. Payments shall not be less than $10 per month.
Ê For the
purposes of this subsection, interest shall be computed at the assumed
investment income rate used in the actuarial valuation of the System next
preceding the date of repayment under paragraph (a) or agreement under paragraph
(b).
2. Upon redepositing the member’s
withdrawn contributions, with interest, the member shall have restored
completely the member’s previous service credit which had been relinquished by
the withdrawal of such contributions. If a member fails to perform fully an
agreed repayment schedule, the member is entitled to service credit for
previous service in the same proportion that the member’s repayment of
withdrawn contributions bears to the total amount of withdrawn contributions.
[Part 16:181:1947; A 1949, 174; 1951, 269; 1955,
117]—(NRS A 1961, 162; 1963, 988; 1967, 742; 1973, 1415; 1975, 1044; 1977, 1586)
NRS 286.450 Rate of contributions by public employer.
1. The employer contribution rate must be:
(a) The matching contribution rate for employees
and employers that is actuarially determined for police officers and
firefighters and for regular members, depending upon the retirement fund in
which the member is participating.
(b) Except as otherwise provided in subsection 2,
adjusted on the first monthly retirement reporting period commencing on or
after July 1 of each odd-numbered year based on the actuarially determined
contribution rate indicated in the biennial actuarial valuation and report of
the immediately preceding year. The adjusted rate must be rounded to the
nearest one-quarter of 1 percent.
2. The employer’s portion of the matching
contribution rate for employees and employers must not be adjusted in
accordance with the provisions of paragraph (b) of subsection 1 if:
(a) The existing rate is lower than the
actuarially determined rate but is within one-quarter of 1 percent of the
actuarially determined rate.
(b) The existing rate is higher than the
actuarially determined rate but is within 1 percent of the actuarially
determined rate. If the existing rate is more than 1 percent higher than the
actuarially determined rate, the existing rate must be reduced by the amount by
which it exceeds 1 percent above the actuarially determined rate.
[15:181:1947; A 1949, 174; 1951, 269; 1953, 129]—(NRS
A 1959, 881; 1963, 989; 1967, 743; 1969, 858; 1971, 623; 1973, 1416; 1975,
1045; 1977,
1586; 1981,
451; 1985,
1714; 1987,
373; 1993,
477; 2003,
2060; 2009,
2350)
NRS 286.460 Remittance of contributions by public employers.
1. Each participating public employer
which pays compensation to its officers or employees in whole or in part from
money received from sources other than money appropriated from the State
General Fund shall pay public employer contributions, or the proper portion
thereof, to the System from the money of the department, board, commission or
agency.
2. Public employer contributions for
compensation paid from the State General Fund must be paid directly by each
department, board, commission or other agency concerned, and allowance therefor
must be made in the appropriation made for each department, board, commission
or other state agency.
3. All participating public employers that
are required to make payments pursuant to this section shall file payroll
reports not later than 15 days after the end of the reporting period, together
with the remittance of the amount due the System. The 15-day limit is extended
1 working day for each legal holiday that falls within the 15-day period and is
officially recognized by the public employer.
4. Payroll reports must contain accurate
payroll information and be filed in a form prescribed by the Board. If the
payroll reports are not filed or the amounts due are not remitted within the
time provided, a penalty on the unpaid balance due must be assessed at a rate
of 4 percent more than the prime rate of interest as published in the Wall
Street Journal (Western Edition) for the first date the payment or report
becomes delinquent. For purposes of calculating the penalty on the unpaid
balance due, the unpaid balance due must be calculated based on the most recent
payroll report submitted to the System by the public employer.
5. A notice of the penalty assessed must
be mailed by certified mail to the chief administrator of the delinquent public
employer. The public employer shall pay the assessment within 90 days after
receipt of the notice or an additional penalty of 1 percent of the assessment
per month must be imposed until paid. Refusal or failure by the public employer
to pay the assessment within 12 months after receipt is a misdemeanor on the
part of the chief administrator of the delinquent public employer. The Board may
accept, no later than 30 days after the notice is received, an appeal from a
public employer for waiver or reduction of a penalty assessed on account of
extenuating circumstances and make any adjustment it deems necessary.
6. Except as otherwise required as a
result of NRS 286.537, upon notification that a
current employee was not properly enrolled in the System by the public
employer, the public employer shall pay within 90 days all the employee and
employer contributions and the interest that is due as computed by the System
from the first day the employee was eligible for membership. The public
employer is entitled to recover from the employee the employee contributions
and interest thereon.
7. If an employer reports wages pursuant
to this section that are ineligible pursuant to the definition of compensation
under NRS 286.025, the public employer is
responsible to the employee for the impact to the member’s benefit, if any,
that results from the erroneously reported wages.
8. As used in this section, “reporting
period” means the calendar month for which members’ compensation and service
credits are reported and certified by participating public employers.
Compensation paid during each month must be reported separately, and
retroactive salary increases must be identified separately for each month to
which they apply.
[Part 12:181:1947; 1943 NCL § 5230.12] + [12(a):
181:1947; added 1949, 174; A 1951, 269]—(NRS A 1971, 623, 1317; 1975, 1045; 1977, 1586; 1981, 451; 1991, 1970, 2361; 2001, 2403; 2009, 1576,
2351)
NRS 286.462 Complaint to Department of Taxation required concerning
delinquent report or payment. If a
public employer is delinquent by more than 90 days in submitting a report or
paying an amount due pursuant to subsection 3 of NRS
286.460, the System shall submit a written complaint to the Department of
Taxation asking it to take such actions as are necessary in accordance with NRS 354.665.
(Added to NRS by 1991, 1970; A 1995, 251, 1897)
SERVICE
NRS 286.470 Credit for service as county commissioner, city council member
or mayor: Calculation of average compensation; waiver of service; exception.
1. Except as otherwise required as a
result of NRS 286.535 or 286.537,
or as otherwise provided in subsection 3, average compensation for service
performed as a county commissioner, city council member or mayor must be
calculated as follows for those members whose effective date of retirement is
after May 19, 1975:
(a) Service retirement allowance for elective
service must be computed on the basis of the highest 36 consecutive months of
elective service multiplied by the percentage of average compensation earned
during such service.
(b) Service retirement allowance for regular
service must be computed on the basis of the highest 36 consecutive months of
regular service multiplied by the percentage of average compensation earned
during such service.
(c) The service retirement allowances for
elective service and for regular service are added together to provide the
total unmodified service retirement allowance earned by the member.
(d) Average compensation for service before July
1, 1977, is computed from the sum of both salaries when a member is employed
simultaneously as a regular member and as a county commissioner, city council
member or mayor.
2. A member who has service as a county
commissioner, city council member or mayor may, upon retirement, waive such
service and have the member’s allowances computed as a regular member.
3. If a member who has service as a county
commissioner, city council member or mayor has an average salary for the entire
period of elective service that is equal to or greater than the average salary
of a member for regular service for the same period, the calculations required
pursuant to subsection 1 do not apply and the member must receive credit for
regular service.
[8.5:181:1947; added 1955, 295]—(NRS A 1967, 743,
1222; 1971, 547; 1975, 1046; 1977, 1587; 1991, 2362; 1999, 2617)
NRS 286.475 Credit for service as Legislator before July 1, 1967:
Calculation of average compensation. The
method of calculating the average compensation of a county commissioner or a
council member of an incorporated city prescribed in subsection 1 of NRS 286.470 shall be used in calculating the average
compensation of persons serving as Legislators prior to July 1, 1967, where
such service has remained accredited under the provisions of this chapter.
(Added to NRS by 1969, 858; A 1977, 1588)
NRS 286.477 Credit for part-time employment; loss of credit.
1. Except as otherwise required as a
result of NRS 286.537, an employee may receive full
service credit for part-time employment if:
(a) The employee and the employer of the employee
enter into an agreement covering the employee’s part-time employment and the
agreement is approved by the Board;
(b) The employee will have reached the age and
completed the years of service necessary for retirement, without actuarial
reduction of the employee’s benefit, at the expiration of the term of the
agreement;
(c) The employee works half-time or more, but
less than full-time, according to the regular schedule established by the
employer for the employee’s position;
(d) The employee and the employer make
contributions equal to the lesser of:
(1) The amount which a person serving on a
full-time basis in the position would contribute and which the person’s
employer would contribute for the person; or
(2) The amount which the employee and
employer contributed during the last 12 months of the employee’s full-time
employment, adjusted to include increases to offset higher costs of living
provided to similarly situated employees of the same public employer;
(e) Employment ends on or before the fifth
anniversary of the day on which the agreement became effective; and
(f) The employee agrees in writing to the forfeiture
of credit provided in subsection 2.
2. An employee loses all service credit
which the employee did not earn by actual work and which has accrued pursuant
to this section if the employee:
(a) Returns to full-time employment in the
service of any public employer at any time after beginning part-time work under
the agreement, except for full-time employment as an elected public officer as
a result of appointment to an elective office.
(b) Continues in the employee’s part-time
employment beyond the fifth anniversary of the day on which the agreement
became effective.
(Added to NRS by 1979, 495; A 1981, 452; 1983, 481; 1991, 2363)
NRS 286.479 Service credit for military service in Persian Gulf Crisis.
1. A member who has 5 years or more of
service credit is entitled to receive free service credit for military service
for the period beginning on the date proclaimed by the President of the United
States as the date on which hostilities began in the Persian Gulf Crisis and
ending on the date proclaimed by the President of the United States as the
termination of hostilities in the Persian Gulf Crisis if the member:
(a) Began active military duty within 6 months
after the last date of employment or leave of absence without pay with a
participating public employer; and
(b) Returned to employment with a participating
public employer within 1 year after being honorably discharged or released from
active duty.
2. A member who meets all of the
requirements of subsection 1 except that the member does not have 5 years of
service credit is entitled to receive the free credit pursuant to subsection 1
as soon as the member attains 5 years of service credit.
(Added to NRS by 1991, 1860)
NRS 286.481 Service ineligible for credit. A
member shall not be credited with service for:
1. Except as otherwise provided in NRS 286.385, leave of absence without pay;
2. Overtime work;
3. Employment in a position which does not
qualify the member for participation in the System;
4. More than 1 day within a day, 1 month
within a month, or 1 year of service in any 12-month period; or
5. Any period for which compensation is
not received by the member unless specifically otherwise provided in this
chapter.
(Added to NRS by 1975, 1047; A 1999, 2618)
NRS 286.486 Service credited in another system ineligible; exception. Except as specifically otherwise provided in
this chapter, a member shall not receive credit in the System for service that
entitled such member to credit for retirement purposes in any other retirement
system operated by the federal or a state government, or any of their agencies
or political subdivisions, including the Social Security Act (Act of Congress
approved August 14, 1935, chapter 531, 49 Stat. 620, as amended).
(Added to NRS by 1975, 1047)
NRS 286.495 Computation of credit for service: Generally. Except as provided in NRS
286.470, 286.475 and 286.501,
members shall be credited with service on the basis of days, months or years
actually worked by a member, except that:
1. Intermittent service shall be credited
to a member on the basis of 1 day of service for each 8 hours worked, and portions
of a day shall be prorated.
2. Part-time employees who regularly work
at least half-time for a full year with a minimum of 720 hours worked are
entitled to a full year of credit for retirement eligibility only, with credit
for actual service for determination of benefit being granted on actual time
worked.
3. An employee of the Nevada Legislature
who works full-time for at least 6 months in a fiscal year during which the
Legislature meets in regular session is entitled to a full year of credit for
retirement eligibility only, with credit for actual service for determination
of benefit being granted on actual time worked.
Ê Service
credit under this section shall be computed according to the fiscal year. No
member may receive less credit under this section than was provided under the
law in force at the time when the credit was earned. Nothing in this section
allows a member to receive more than 1 year of credit for retirement
eligibility in any year.
(Added to NRS by 1975, 1047; A 1977, 1589; 2003, 2094, 3516)
NRS 286.501 Computation of credit for service: Employees of school districts
and professional staff of Nevada System of Higher Education. Each member who is employed by a school
district for less than 12 months per school year and each member of the professional
staff of the Nevada System of Higher Education employed for the academic year
who is employed for less than 12 months per fiscal year is credited with
service as follows:
1. Service is credited on the basis of a
full year if the member works full-time for the full school year.
2. Employment for a part of a school year
is credited on a ratio of one and one-third days for each day worked, but
credit may not be given in advance or until the appropriate period has expired.
3. A full year of service is not credited
until the full 12-month period has expired. If the employee begins work under a
new contract before the expiration of the 12-month period for the old contract,
credit must be granted for the period of overlap, as certified by the school district,
at the first period in which there is a lapse in service.
4. Service credit under this section must
be computed according to:
(a) The school year for school district
employees.
(b) The fiscal year for members of the
professional staff of the Nevada System of Higher Education.
5. A member receives full credit while on
sabbatical leave if the public employer certifies that the compensation and
contributions reported for the member are the same as if the member were
employed full-time. If the employer does not so certify, the member receives
credit in the proportion that the member’s actual compensation bears to the
member’s previous compensation.
Ê No member
may receive less credit under this section than was provided under the law in
force when the credit was earned.
(Added to NRS by 1975, 1048; A 1977, 1589; 1979, 751; 1985, 1715; 1993, 383; 1999, 2618)
NRS 286.505 Conversion of credit for service; time for crediting service.
1. For the purpose of maintaining the
individual accounts of members, the Board may convert service credit from
increments of days, months and years to hundredths of a year.
2. A member shall not be credited with
service until after the period to be credited to the member has expired.
(Added to NRS by 1975, 1048)
RETIREMENT
NRS 286.510 Eligibility: Age and service of police officers, firefighters
and other employees; reduction of benefit for retirement before required age.
1. Except as otherwise provided in
subsections 2 and 3, a member of the System:
(a) Who has an effective date of membership
before January 1, 2010, is eligible to retire at age 65 if the member has at
least 5 years of service, at age 60 if the member has at least 10 years of
service and at any age if the member has at least 30 years of service.
(b) Who has an effective date of membership on or
after January 1, 2010, is eligible to retire at age 65 if the member has at
least 5 years of service, at age 62 if the member has at least 10 years of
service and at any age if the member has at least 30 years of service.
2. A police officer or firefighter:
(a) Who has an effective date of membership
before January 1, 2010, is eligible to retire at age 65 if the police officer
or firefighter has at least 5 years of service, at age 55 if the police officer
or firefighter has at least 10 years of service, at age 50 if the police
officer or firefighter has at least 20 years of service and at any age if the
police officer or firefighter has at least 25 years of service.
(b) Who has an effective date of membership on or
after January 1, 2010, is eligible to retire at age 65 if the police officer or
firefighter has at least 5 years of service, at age 60 if the police officer or
firefighter has at least 10 years of service and at age 50 if the police
officer or firefighter has at least 20 years of service.
Ê Only service
performed in a position as a police officer or firefighter, established as such
by statute or regulation, service performed pursuant to subsection 3 and credit
for military service, may be counted toward eligibility for retirement pursuant
to this subsection.
3. Except as otherwise provided in
subsection 4, a police officer or firefighter who has at least 5 years of
service as a police officer or firefighter and is otherwise eligible to apply
for disability retirement pursuant to NRS 286.620
because of an injury arising out of and in the course of the police officer’s
or firefighter’s employment remains eligible for retirement pursuant to
subsection 2 if:
(a) The police officer or firefighter applies to
the Board for disability retirement and the Board approves the police officer’s
or firefighter’s application;
(b) In lieu of a disability retirement allowance,
the police officer or firefighter accepts another position with the public
employer with which the police officer or firefighter was employed when the
police officer or firefighter became disabled as soon as practicable but not
later than 90 days after the Board approves the police officer’s or
firefighter’s application for disability retirement;
(c) The police officer or firefighter remains
continuously employed by that public employer until the police officer or
firefighter becomes eligible for retirement pursuant to subsection 2; and
(d) After the police officer or firefighter
accepts a position pursuant to paragraph (b), the police officer’s or
firefighter’s contributions are paid at the rate that is actuarially determined
for police officers and firefighters until the police officer or firefighter
becomes eligible for retirement pursuant to subsection 2.
4. If a police officer or firefighter who
accepted another position with the public employer with which the police
officer or firefighter was employed when the police officer or firefighter
became disabled pursuant to subsection 3 ceases to work for that public
employer before becoming eligible to retire pursuant to subsection 2, the
police officer or firefighter may begin to receive a disability retirement
allowance without further approval by the Board by notifying the Board on a
form prescribed by the Board.
5. Eligibility for retirement, as provided
in this section, does not require the member to have been a participant in the
System at the beginning of the police officer’s or firefighter’s credited
service.
6. Any member who has the years of
creditable service necessary to retire but has not attained the required age,
if any, may retire at any age with a benefit actuarially reduced to the
required retirement age. Except as otherwise required as a result of NRS 286.537, a retirement benefit pursuant to this
subsection must be reduced:
(a) If the member has an effective date of
membership before January 1, 2010, by 4 percent of the unmodified benefit for
each full year that the member is under the appropriate retirement age, and an
additional 0.33 percent for each additional month that the member is under the
appropriate retirement age.
(b) If the member has an effective date of
membership on or after January 1, 2010, by 6 percent of the unmodified benefit
for each full year that the member is under the appropriate retirement age, and
an additional 0.5 percent for each additional month that the member is under
the appropriate retirement age.
Ê Any option
selected pursuant to this subsection must be reduced by an amount proportionate
to the reduction provided in this subsection for the unmodified benefit. The
Board may adjust the actuarial reduction based upon an experience study of the
System and recommendation by the actuary.
[Part 18:181:1947; A 1949, 174; 1951, 269]—(NRS A
1971, 623; 1975, 1048; 1981, 453; 1989, 1024; 1991, 2364; 1999, 972; 2001, 1288; 2003, 2060; 2009, 2352)
NRS 286.520 Employment of retired employee: Consequences; notice;
exemptions.
1. Except as otherwise provided in this
section and NRS 286.525, the consequences of the
employment of a retired employee are:
(a) A retired employee who accepts employment or
an independent contract with a public employer under this System is
disqualified from receiving any allowances under this System for the duration
of that employment or contract if:
(1) The retired employee accepted the
employment or contract within 90 calendar days after the effective date of the
employee’s retirement; or
(2) The retired employee is employed in a
position which is eligible to participate in this System.
(b) If a retired employee accepts employment or
an independent contract with a public employer under this System more than 90
calendar days after the effective date of the employee’s retirement in a
position which is not eligible to participate in this System, the employee’s
allowance under this System terminates upon the employee’s earning an amount
equal to one-half of the average salary for participating public employees who
are not police officers or firefighters in any fiscal year, for the duration of
that employment or contract.
(c) If a retired employee accepts employment with
an employer who is not a public employer under this System, the employee is
entitled to the same allowances as a retired employee who has no employment.
2. The retired employee and the public employer
shall notify the System:
(a) Within 10 days after the first day of an
employment or contract governed by paragraph (a) of subsection 1.
(b) Within 30 days after the first day of an
employment or contract governed by paragraph (b) of subsection 1.
(c) Within 10 days after a retired employee earns
more than one-half of the average salary for participating public employees who
are not police officers or firefighters in any fiscal year from an employment
or contract governed by paragraph (b) of subsection 1.
3. For the purposes of this section, the
average salary for participating public employees who are not police officers
or firefighters must be computed on the basis of the most recent actuarial
valuation of the System.
4. If a retired employee who accepts
employment or an independent contract with a public employer under this System
pursuant to this section elects not to reenroll in the System pursuant to
subsection 1 of NRS 286.525, the public employer
with which the retired employee accepted employment or an independent contract
may pay contributions on behalf of the retired employee to a retirement fund
which is not a part of the System in an amount not to exceed the amount of the
contributions that the public employer would pay to the System on behalf of a
participating public employee who is employed in a similar position.
5. If a retired employee is chosen by
election or appointment to fill an elective public office, the retired employee
is entitled to the same allowances as a retired employee who has no employment,
unless the retired employee is serving in the same office in which the retired
employee served and for which the retired employee received service credit as a
member. A public employer may pay contributions on behalf of such a retired
employee to a retirement fund which is not a part of the System in an amount
not to exceed the amount of the contributions that the public employer would
pay to the System on behalf of a participating public employee who serves in
the same office.
6. The System may waive for one period of
30 days or less a retired employee’s disqualification under this section if the
public employer certifies in writing, in advance, that the retired employee is
recalled to meet an emergency and that no other qualified person is immediately
available.
7. A person who accepts employment or an
independent contract with either house of the Legislature or by the Legislative
Counsel Bureau is exempt from the provisions of subsections 1 and 2 for the
duration of that employment or contract.
8. A person who accepts employment with a
volunteer fire department of which all the volunteers have become members of
the System pursuant to NRS 286.367 is exempt from
the provisions of subsections 1 and 2 for the duration of that employment.
[23:181:1947; A 1949, 174; 1953, 129]—(NRS A 1957,
731; 1959, 163, 583; 1963, 989; 1967, 1222, 1667; 1969, 19, 856; 1971, 1317; 1977, 1590; 1979, 751, 942; 1981, 142; 1983, 481; 1985, 1715; 1999, 2619; 2001, 2404; 2003, 2061; 2009, 704)
NRS 286.523 Employment of retired employee: Exception for reemployment of
certain retired employees to fill positions for which critical labor shortage
exists; determination and designation of such positions; limitation on length
of designation of position. [Effective through June 30, 2015.]
1. It is the policy of this State to
ensure that the reemployment of a retired public employee pursuant to this
section is limited to positions of extreme need. An employer who desires to
employ such a retired public employee to fill a position for which there is a
critical labor shortage must make the determination of reemployment based upon
the appropriate and necessary delivery of services to the public.
2. The provisions of subsections 1 and 2
of NRS 286.520 do not apply to a retired employee
who accepts employment or an independent contract with a public employer under
the System if:
(a) The retired employee fills a position for
which there is a critical labor shortage; and
(b) At the time of the retired employee’s
reemployment, the retired employee is receiving:
(1) A benefit that is not actuarially
reduced pursuant to subsection 6 of NRS 286.510; or
(2) A benefit actuarially reduced pursuant
to subsection 6 of NRS 286.510 and has reached the
required age at which the retired employee could have retired with a benefit
that was not actuarially reduced pursuant to subsection 6 of NRS 286.510.
3. A retired employee who is reemployed
under the circumstances set forth in subsection 2 may reenroll in the System as
provided in NRS 286.525.
4. Positions for which there are critical
labor shortages must be determined in an open public meeting held by the
designating authority as follows:
(a) Except as otherwise provided in this
subsection, the State Board of Examiners shall designate positions in State
Government for which there are critical labor shortages.
(b) The Supreme Court shall designate positions
in the Judicial Branch of State Government for which there are critical labor
shortages.
(c) The Board of Regents shall designate
positions in the Nevada System of Higher Education for which there are critical
labor shortages.
(d) The board of trustees of each school district
shall designate positions within the school district for which there are
critical labor shortages.
(e) The governing body of a charter school shall
designate positions within the charter school for which there are critical
labor shortages.
(f) The governing body of a local government
shall designate positions with the local government for which there are
critical labor shortages.
(g) The Board shall designate positions within
the System for which there are critical labor shortages.
5. In determining whether a position is a
position for which there is a critical labor shortage, the designating
authority shall make findings based upon the criteria set forth in this
subsection that support the designation. Before making a designation, the
designating authority shall consider all efforts made by the applicable
employer to fill the position through other means. The written findings made by
the designating authority must include:
(a) The history of the rate of turnover for the
position;
(b) The number of openings for the position and
the number of qualified candidates for those openings after all other efforts
of recruitment have been exhausted;
(c) The length of time the position has been
vacant;
(d) The difficulty in filling the position due to
special circumstances, including, without limitation, special educational or
experience requirements for the position; and
(e) The history and success of the efforts to
recruit for the position, including, without limitation, advertising,
recruitment outside of this State and all other efforts made.
6. A designating authority that designates
a position as a critical need position shall submit to the System its written
findings which support that designation made pursuant to subsection 5 on a form
prescribed by the System. The System shall compile the forms received from each
designating authority and provide a biennial report on the compilation to the
Interim Retirement and Benefits Committee of the Legislature.
7. A designating authority shall not
designate a position pursuant to subsection 4 as a position for which there is
a critical labor shortage for a period longer than 2 years. To be redesignated
as such a position, the designating authority must consider and make new
findings in an open public meeting as to whether the position continues to meet
the criteria set forth in subsection 5.
(Added to NRS by 2001, 2400; A 2003, 2062; 2005, 1077; 2009, 1549,
1550; R
2011, 90,
effective June 30, 2015)
NRS 286.525 Employment of retired employee: Enrollment in System; rights of
membership; accrual of credit for service; benefits for survivor.
1. A retired employee who accepts
employment in a position eligible for membership may enroll in the System as of
the effective date of that employment. As of the date of enrollment:
(a) The retired employee forfeits all retirement
allowances for the duration of that employment.
(b) The retired employee is entitled to receive,
after the termination of the employment and upon written request, a refund of
all contributions made by the retired employee during the employment. Except as
otherwise required as a result of NRS 286.535 or 286.537, if the retired employee does not request the
refund and the duration of the employment was at least 6 months, the retired
employee gains additional service credit for that employment and is entitled to
have a separate service retirement allowance calculated based on the retired
employee’s compensation and service, effective upon the termination of that
employment. If the duration of the employment was:
(1) Less than 5 years, the additional
allowance must be added to the retired employee’s original allowance and must
be under the same option and designate the same beneficiary as the original
allowance.
(2) Five years or more, the additional
allowance may be under any option and designate any beneficiary in accordance
with NRS 286.545.
2. The original service retirement
allowance of such a retired employee must not be recalculated based upon the
additional service credit, nor is the retired employee entitled to any of the
rights of membership that were not in effect at the time of the retired
employee’s original retirement. The accrual of service credit pursuant to this
section is subject to the limits imposed by:
(a) NRS 286.551; and
(b) Section 415 of the Internal Revenue Code, 26
U.S.C. § 415, if the member’s effective date of membership is on or after
January 1, 1990.
3. Except as otherwise required as a
result of NRS 286.470, 286.535
or 286.537, a retired employee who has been
receiving a retirement allowance and who is reemployed and is enrolled in the
System for at least 5 years may have the retired employee’s additional credit
for service added to the retired employee’s previous credit for service. This
additional credit for service must not apply to more than one period of
employment after the original retirement.
4. The survivor of a deceased member who
had previously retired and was rehired and enrolled in the System, who
qualifies for benefits pursuant to NRS 286.671 to 286.6793, inclusive, is eligible for the benefits
based on the service accrued through the second period of employment.
(Added to NRS by 1979, 944; A 1983, 482; 1985, 1717; 1991, 1971, 2364; 1995, 251; 1997, 215; 1999, 2620; 2003, 2063)
BENEFITS
NRS 286.533 Limitation on distributions to members of System. Notwithstanding any other provision of law,
every distribution to a member must be made pursuant to the provisions of
section 401(a)(9) of the Internal Revenue Code, 26 U.S.C. § 401(a)(9), that
apply to governmental plans.
(Added to NRS by 1991, 2354; A 2011, 823)
NRS 286.534 Actuarial assumptions used in computing benefits: Availability;
changes prohibited.
1. The Board shall not change the
actuarial assumptions used in computing the benefits provided to a member.
2. The Board shall make available to every
member upon request the actuarial assumptions used in computing the benefits
provided to a member.
(Added to NRS by 1991, 2355)
NRS 286.535 Limitation on compensation used to determine retirement benefit. Notwithstanding any other provision of law,
the amount of compensation used to determine the retirement benefit of a member
of the System must not exceed:
1. For persons who first became members of
the System before July 1, 1996, the limitation provided by section 401(a)(17)
of the Internal Revenue Code (26 U.S.C. § 401(a)(17)), as that section existed
on July 1, 1993.
2. For persons who first became members of
the System on or after July 1, 1996, the limitation provided by section
401(a)(17) of the Internal Revenue Code (26 U.S.C. § 401(a)(17)), as that
section existed on July 1, 1996.
(Added to NRS by 1991, 2355; A 1995, 252)
NRS 286.537 Limitations on benefits and contributions.
1. The election provided by section
415(b)(10)(c) of the Internal Revenue Code (26 U.S.C. § 415(b)(10)(c)) is
hereby made.
2. Notwithstanding any other provision of
this chapter, the benefits payable to and the contributions made by or for the
benefit of an employee whose effective date of membership is on or after
January 1, 1990, are limited pursuant to the provisions of sections 415(b),
415(c) and 415(e) of the Internal Revenue Code (26 U.S.C. §§ 415(b), 415(c) and
415(e)). The provisions of section 415(b)(2)(F) of the Internal Revenue Code
(26 U.S.C. § 415(b)(2)(F)) do not apply to the benefits of such an employee.
3. Notwithstanding any other provision of
law, if an employee whose effective date of membership is on or after January
1, 1990, is a member of the System and a member of the Legislators’ Retirement
System, the benefits payable to the employee from both plans are limited
pursuant to this section. The employee’s benefits from the plan providing the
greater benefit must be reduced if the benefits from both plans exceed the
limitations of this section.
(Added to NRS by 1991, 2355; A 1997, 216)
NRS 286.538 Minimum benefits payable to employee who became member of System
before January 1, 1990. The
benefits payable to an employee whose effective date of membership is before
January 1, 1990, must not be less than the employee’s accrued benefits determined
without regard to any amendment of the System made after October 14, 1987.
(Added to NRS by 1991, 2355)
NRS 286.539 Prohibition against applying forfeitures to increase benefits. Forfeitures must not be applied to increase
the benefits any member would otherwise receive pursuant to the provisions
governing the System as provided by section 401(a)(8) of the Internal Revenue
Code, 26 U.S.C. § 401(a)(8).
(Added to NRS by 1991, 2355; A 2011, 823)
NRS 286.541 Application for service retirement allowance or disability
retirement allowance; effective date of retirement; rights of present or former
spouse; System exempted from liability for false designation of marital status
by member or retired member.
1. Applications for service retirement
allowances or disability retirement allowances must be submitted to the offices
of the System on forms approved by the Executive Officer. The form shall not be
deemed filed unless it contains:
(a) The member’s selection of the retirement plan
contained in NRS 286.551 or one of the optional
plans provided in NRS 286.590;
(b) A notarized statement of the marital status
of the member; and
(c) If the member is married, a statement of the
spouse’s consent or objection to the chosen retirement plan, signed by the
spouse and notarized.
2. Except as otherwise required by NRS 286.533, retirement becomes effective on whichever
of the following days is the later:
(a) The day immediately following the applicant’s
last day of employment;
(b) The day the completed application form is
filed with the System;
(c) The day immediately following the applicant’s
last day of creditable service; or
(d) The effective date of retirement specified on
the application form.
3. The selection of a retirement plan by a
member and consent or objection to that plan by the spouse pursuant to this
section does not affect the responsibility of the member concerning the rights
of any present or former spouse.
4. The System is not liable for any
damages resulting from the false designation of marital status by a member or
retired member.
(Added to NRS by 1975, 1049; A 1979, 259; 1987, 682; 1991, 2365)
NRS 286.545 Consent of spouse to retirement plan of member.
1. If the spouse of the member does not
consent to the retirement plan chosen by the member before the date on which
the retirement becomes effective pursuant to NRS
286.541 the System shall:
(a) Notify the spouse that the spouse has 90 days
to consent or have the member change the member’s selection; and
(b) Pay the retirement at the amount calculated
for Option 2 provided in NRS 286.590 until the
spouse consents or for 90 days, whichever is less.
2. Upon consent of the spouse or at the
end of the 90 days, the retirement benefit must be recalculated and paid under the
terms of the option originally selected by the member retroactively to the date
on which the retirement became effective.
(Added to NRS by 1987, 680)
NRS 286.551 Determination of monthly service retirement allowance. Except as otherwise required as a result of NRS 286.535 or 286.537:
1. Except as otherwise provided in
subsection 2:
(a) For a member who has an effective date of
membership before January 1, 2010, a monthly service retirement allowance must
be determined by multiplying a member’s average compensation by 2.5 percent for
each year of service earned before July 1, 2001, and 2.67 percent for each year
of service earned on or after July 1, 2001.
(b) For a member who has an effective date of
membership on or after January 1, 2010, a monthly service retirement allowance
must be determined by multiplying a member’s average compensation by 2.5
percent for each year of service earned.
2. A member:
(a) Who has an effective date of membership on or
after July 1, 1985, is entitled to a benefit of not more than 75 percent of the
member’s average compensation with the member’s eligibility for service credit
ceasing at 30 years of service.
(b) Who has an effective date of membership
before July 1, 1985, and retires on or after July 1, 1977, is entitled to a
benefit of not more than 90 percent of the member’s average compensation with
the member’s eligibility for service credit ceasing at 36 years of service.
Ê In no case
may the service retirement allowance determined pursuant to this section be
less than the allowance to which the retired employee would have been entitled
pursuant to the provisions of this section which were in effect on the day
before July 3, 1991.
3. For the purposes of this section,
except as otherwise provided in subsections 4, 5 and 6, “average compensation”
means the average of a member’s 36 consecutive months of highest compensation
as certified by the public employer.
4. Except as otherwise provided in
subsection 5, for an employee who becomes a member of the System on or after
January 1, 2010, the following limits must be observed when calculating the
member’s average compensation based on a 60-month period that commences 24
months immediately preceding the 36 consecutive months of highest compensation:
(a) The compensation for the 13th through the
24th months may not exceed the actual compensation amount for the 1st through
the 12th months by more than 10 percent;
(b) The compensation for the 25th through the
36th months may not exceed by more than 10 percent the lesser of:
(1) The maximum compensation amount
allowed pursuant to paragraph (a); or
(2) The actual compensation amount for the
13th through the 24th months;
(c) The compensation for the 37th through the
48th months may not exceed by more than 10 percent the lesser of:
(1) The maximum compensation amount
allowed pursuant to paragraph (b); or
(2) The actual compensation amount for the
25th through the 36th months; and
(d) The compensation for the 49th through the
60th months may not exceed by more than 10 percent the lesser of:
(1) The maximum average compensation
amount allowed pursuant to paragraph (c); or
(2) The actual compensation amount for the
37th through the 48th months.
5. Compensation attributable to a
promotion and assignment-related compensation must be excluded when calculating
the limits pursuant to subsection 4.
6. The average compensation of a member
who has a break in service or partial months of compensation, or both, as a
result of service as a Legislator during a regular or special session of the
Nevada Legislature must be calculated on the basis of the average of the
member’s 36 consecutive months of highest compensation as certified by the
member’s public employer excluding each month during any part of which the
Legislature was in session. This subsection does not affect the computation of
years of service.
7. The retirement allowance for a regular
part-time employee must be computed from the salary which the employee would
have received as a full-time employee if it results in greater benefits for the
employee. A regular part-time employee is a person who works half-time or more,
but less than full-time:
(a) According to the regular schedule established
by the employer for the employee’s position; and
(b) Pursuant to an established agreement between
the employer and the employee.
(Added to NRS by 1975, 1049; A 1977, 1591; 1979, 753; 1983, 483; 1985, 1717; 1987, 412; 1989, 1092, 1562; 1991, 1972, 2365; 2001, 1289; 2009, 2353)
NRS 286.555 Refund of portion of contributions to certain persons who became
members on or after January 1, 2010.
1. A person who becomes a member of the
System on or after January 1, 2010, and whose monthly service retirement
allowance is determined using an average compensation amount limited by the
provisions of subsection 4 of NRS 286.551 is
entitled to a refund from the person’s individual account of the difference
between:
(a) The amount of the employee contribution
pursuant to NRS 286.410; and
(b) The amount the employee contribution would
have been had it been actuarially determined to account for the limits imposed
by the provisions of subsection 4 of NRS 286.551.
2. The System shall pay any amount to
which a person is entitled pursuant to subsection 1 upon the final
determination of the amount of the person’s benefit, but not later than 6
months after the effective date of the person’s retirement.
(Added to NRS by 2009, 2345)
NRS 286.571 Postretirement increases: Calculation of increase for persons
who became members on or after January 1, 2010.
1. Except as otherwise provided in
subsection 2, for a person who retires and who has an effective date of
membership on or after January 1, 2010, allowances or benefits must be
increased once each year on the first day of the month immediately following
the anniversary of the date the person began receiving the allowance or
benefit, by the lesser of:
(a) Two percent following the 3rd anniversary of
the commencement of benefits, 3 percent following the 6th anniversary of the
commencement of benefits, 3.5 percent following the 9th anniversary of the
commencement of benefits, 4 percent following the 12th anniversary of the
commencement of benefits and each year thereafter; or
(b) The average percentage of increase in the
Consumer Price Index (All Items) for the 3 preceding years, unless a different
index is substituted by the Board.
2. In any event, the allowance or benefit
of a member must be increased by the percentages set forth in paragraph (a) of
subsection 1 if the allowance or benefit of a member has not increased at a
rate greater than or equal to the average of the Consumer Price Index (All
Items), unless a different index is substituted by the Board, for the period
between the date of the member’s retirement and the date specified in
subsection 1.
3. The Board may use a different index for
the calculation made pursuant to paragraph (b) of subsection 1 if:
(a) The substituted index is compiled and
published by the United States Department of Labor; and
(b) The Board determines that the substituted
index represents a more accurate measurement of the cost of living for retired
employees.
4. The base from which the increase
provided by this section must be calculated is the allowance or benefit in
effect on the day before the increase becomes effective.
(Added to NRS by 2009, 2346)
NRS 286.575 Postretirement increases: Payment; effect on monthly benefit.
1. Except as otherwise required as a
result of NRS 286.537, a postretirement allowance
must be paid from the Public Employees’ Retirement Fund or the Police and
Firefighters’ Retirement Fund to each member receiving a disability allowance
or service retirement allowance from that Fund under the provisions of this
chapter in the amount and manner provided and from time to time adjusted by
law. Each member whose allowance was increased after the member’s retirement by
payments for years of service in excess of 20 years is entitled to receive an
increase based upon the member’s adjusted allowance.
2. Postretirement allowances must be
considered a part of a retired employee’s monthly benefit and included in the
allowance paid to a beneficiary under one of the optional plans provided in NRS 286.590.
(Added to NRS by 1963, 995; A 1965, 955; 1971, 626;
1975, 1050; 1977,
1591; 1979,
259; 1991,
2366; 2003,
2064)
NRS 286.5756 Postretirement increases: Persons receiving benefits before
September 1, 1983, or for 3 years before increase.
1. A person is entitled to the increase
provided in this section if the person began receiving an allowance or benefit:
(a) Before September 1, 1983, and has received
the allowance or benefit for at least 6 continuous months in the 12 months
preceding the effective date of the increase; or
(b) At least 3 years before the increase.
2. Except as otherwise provided in
subsection 3, allowances or benefits increase once each year on the first day
of the month immediately following the anniversary of the date the person began
receiving the allowance or benefit, by the lesser of:
(a) Two percent following the 3rd anniversary of
the commencement of benefits, 3 percent following the 6th anniversary of the
commencement of benefits, 3.5 percent following the 9th anniversary of the
commencement of benefits, 4 percent following the 12th anniversary of the
commencement of benefits and 5 percent following the 14th anniversary of the
commencement of benefits; or
(b) The average percentage of increase in the
Consumer Price Index (All Items) for the 3 preceding years, unless a different
index is substituted by the Board.
3. In any event, the allowance or benefit
of a member must be increased by the percentages set forth in paragraph (a) of
subsection 2 if the allowance or benefit of a member has not increased at a
rate greater than or equal to the average of the Consumer Price Index (All
Items), unless a different index is substituted by the Board, for the period
between the date of the member’s retirement and the date specified in
subsection 2.
4. The Board may use a different index for
the calculation made pursuant to paragraph (b) of subsection 2 if:
(a) The substituted index is compiled and
published by the United States Department of Labor; and
(b) The Board determines that the substituted
index represents a more accurate measurement of the cost of living for retired
employees.
5. The base from which the increase
provided by this section must be calculated is the allowance or benefit in
effect on the day before the increase becomes effective.
(Added to NRS by 1983, 1925; A 1989, 1025; 1991, 1861; 1995, 252; 1997, 351)
NRS 286.5765 Postretirement increases: Persons retired before July 1, 1963;
persons retired before September 1, 1975, with 20 years’ credit for service;
persons retired before July 1, 1989, with 20 years’ credit for service;
separate account.
1. The System shall provide an increase of
$80 per month for all public employees who retired before July 1, 1963, in
addition to the amounts to which they were respectively entitled on April 1,
1975.
2. An employee who retired before
September 1, 1975, with 20 or more years of credit for service, whose gross
benefit is less than $500 per month must be paid an increase in an amount which
would make the retired employee’s gross benefit $500 per month or an increase
of $200 per month, whichever is less. If a person receiving a benefit under
option 3 or 5 as the beneficiary of an employee who retired before September 1,
1975, with 20 or more years of credit for service, is receiving less than $250
per month, the person must be paid an increase in an amount which would make
the person’s gross benefit $250 per month or an increase of $100 per month,
whichever is less.
3. An employee who retired with 20 or more
years of credit for service, who had reached the age for full retirement
eligibility without reduction for age at the time of retirement and whose gross
benefit as of July 1, 1989, is less than $550 per month, must be paid an
increase in an amount which would make the retired employee’s gross benefit
$550 per month or an increase of $100 per month, whichever is less. If a person
receiving a benefit under option 3 or 5 as the beneficiary of an employee who
retired with 20 or more years of credit for service and had reached the age for
full retirement eligibility without reduction for age at the time of
retirement, is receiving a gross benefit as of July 1, 1989, of less than $275
per month, the person must be paid an increase in an amount which would make
the person’s gross benefit $275 per month or an increase of $50 per month,
whichever is less.
4. All money which has been accumulated
under the provisions of that certain act of the Legislature of the State of
Nevada entitled “An Act to provide against losses to the state and its
respective counties, townships, incorporated cities and irrigation districts
through defalcation, misappropriation of funds or other wrongful acts on the
part of officials or employees; to provide for the issuance of surety bonds for
state, county, township, city and irrigation district officials and employees,
establishing a fund therefor, and other matters relating thereto; and to repeal
all acts and parts of acts in conflict therewith,” approved March 26, 1937, as
amended, must be transferred to the Public Employees’ Retirement Fund. The
money must be combined with the appropriation made by section 35 of chapter
270, Statutes of Nevada 1975, and segregated into a separate account within the
Public Employees’ Retirement Fund from which the increases provided in this
section must be paid. If the money in that account is insufficient to pay those
increases, the amount needed must be provided by the System.
(Added to NRS by 1983, 1926; A 1983, 1889; 1985, 1188; 1989, 1128)
NRS 286.577 Postretirement increases: Persons receiving allowance before
July 1, 1975; persons with benefits commencing in 1975.
1. The System shall pay a postretirement
allowance from the appropriate retirement fund to each member receiving a
disability retirement allowance or service retirement allowance under the
provisions of this chapter who first became entitled to receive any such
allowance before July 1, 1975, as follows: As of the 1st day of July in each
year following June 30, 1963, or the calendar year in which any monthly
disability allowance or service retirement allowance was first paid, whichever
last occurs, and preceding July 1, 1975, there must be added to such monthly
disability allowance or service retirement allowance and paid to the member
monthly thereafter an amount equivalent to 1.5 percent of the amount of such
monthly disability allowance or service retirement allowance as originally
computed, approved and paid.
2. Each member who retired before January
1, 1962, is entitled to receive an increase in the member’s postretirement
allowance of 1.5 percent of the amount of the member’s monthly disability
retirement allowance or service retirement allowance, as originally computed,
approved and paid, for each calendar year following the calendar year of the
member’s retirement and preceding the calendar year 1963.
3. Beginning on July 1, 1975, the System
shall pay a postretirement increase from the appropriate retirement fund to
each person who receives monthly service retirement, disability or survivor
benefit allowances as follows:
Period of
Beginning Receipt Increase
of Base Benefit
July 1 to December 31, 1963....................................................... 5.00
percent
Calendar year 1964....................................................................... 4.75
percent
Calendar year 1965....................................................................... 4.50
percent
Calendar year 1966....................................................................... 4.25
percent
Calendar year 1967....................................................................... 4.00
percent
Calendar year 1968....................................................................... 3.75
percent
Calendar year 1969....................................................................... 3.50
percent
Calendar year 1970....................................................................... 3.25
percent
Calendar year 1971....................................................................... 3.00
percent
Calendar year 1972....................................................................... 2.75
percent
Calendar year 1973....................................................................... 2.50
percent
Calendar year 1974....................................................................... 2.25
percent
and beginning on July 1, 1976, an additional increase of the
same amount must be paid to each person.
4. Beginning July 1, 1976, a postretirement
increase of 2 percent must be paid to every such member who began receiving
benefits during the calendar year 1975.
(Added to NRS by 1983, 1927)
NRS 286.5775 Postretirement increases: Increases based on years allowance
received; beneficiaries of deceased employees; limitations.
1. In addition to the other postretirement
allowances and increases provided by law, if adequate money is available which
has been designated for this purpose, the Public Employees’ Retirement System
shall provide a postretirement increase based upon the total number of calendar
years that the recipient has been receiving an allowance. The increases are
payable beginning July 1, 1977, and July 1, 1978, as follows:
Total
Years
Receiving
Allowance Increase
of Base Benefit
12 or more..................................................................................... 5.00
percent
11 4.75
percent
10 4.50
percent
9 4.25
percent
8 4.00
percent
7 3.75
percent
6 3.50
percent
5 3.25
percent
4 3.00
percent
3 2.75
percent
2 2.50
percent
1 2.25
percent
2. A person who has been receiving an
allowance for at least 6 months but less than 1 year when postretirement
increases are paid is entitled to an increase of 2 percent of the person’s base
benefit.
3. A beneficiary of a deceased retired
employee is entitled to receive postretirement increases provided in this
section based on the effective date of retirement for the retired employee and:
(a) The base benefit for the retired employee if
the retired employee selected option 2 or 4; or
(b) Fifty percent of the base benefit of the
retired employee if the retired employee selected option 3 or 5.
4. The postretirement increases provided
in this section are payable only if they do not exceed the percentage increase
in the Consumer Price Index (All Items) during the previous calendar year or
any limitations required as a result of NRS 286.537.
The percentage for postretirement increases provided in this section must be
reduced to the percentage increase in the Consumer Price Index (All Items) for
the previous calendar year if the increase in the index is less than the
percentage provided in this section.
(Added to NRS by 1983, 1927; A 1991, 2366)
NRS 286.578 Postretirement increases: Increases payable July 1, 1979, and
July 1, 1980.
1. In addition to other postretirement
allowances or benefits provided by law, and subject to the limitation provided
in subsection 3, the Public Employees’ Retirement System shall provide a
postretirement increase to each eligible person, based upon:
(a) The number of years the person has received a
retirement allowance or in the case of a beneficiary of a retired employee, the
number of years an allowance or benefits have been received since the retired
employee’s effective date of retirement; and
(b) The amount of the person’s cumulative
allowance or benefit computed as of the dates on which these increases are
payable.
2. The increases provided in subsection 1
are payable on July 1, 1979, and July 1, 1980, as follows:
Number
of Years Receiving Increase
in Cumulative
Allowance
or Benefit Allowance
or Benefit
5 years or more................................................................................... 5.0
percent
4 years.................................................................................................. 4.5
percent
3 years.................................................................................................. 4.0
percent
2 years.................................................................................................. 3.5
percent
1 year.................................................................................................... 3.0
percent
3. These percentage increases are payable
only if they do not exceed the percentage increase in the “All Items Consumer
Price Index” for the preceding calendar year. If the percentage increase in the
index for the preceding year is less than any percentage increase described in
subsection 2, the latter increase must be reduced to the former.
(Added to NRS by 1983, 1928; A 1985, 267)
NRS 286.5785 Postretirement increases: Increases payable July 1, 1981, and
July 1, 1982.
1. On July 1, 1981, and July 1, 1982, the
System shall provide a cost-of-living increase to each retired employee or
beneficiary. The increase must be based on the number of years the person has
been drawing benefits plus the portion of the year, in full calendar months, in
which the person began drawing benefits, in the amounts:
Number
of years and full calendar
months
during which benefits Percentage
of
have
been received Increase
1 year..................................................................................................................... 3.0
1 year and 1 month through 2 years................................................................ 3.5
2 years and 1 month through 3 years.............................................................. 4.0
3 years and 1 month through 4 years.............................................................. 4.5
4 years and 1 month through 5 years.............................................................. 5.0
5 years and 1 month through 6 years.............................................................. 5.5
6 years and 1 month through 7 years.............................................................. 6.0
7 years and 1 month through 8 years.............................................................. 6.5
8 years and 1 month through 9 years.............................................................. 7.0
9 years and 1 month through 10 years............................................................ 7.5
10 years and 1 month through 11
years.......................................................... 8.0
11 years and 1 month through 12
years.......................................................... 8.5
12 years and 1 month through 13
years.......................................................... 9.0
13 years and 1 month through 14
years.......................................................... 9.5
14 years and 1 month and more.................................................................... 10.0
2. The increase for a retired employee or
beneficiary who has been receiving benefits for less than 12 full calendar
months on July 1 is 3 percent prorated for the number of full calendar months
in which the person has received benefits.
3. In addition to the other postretirement
allowances and increases provided by law, the System shall provide a monthly
postretirement increase of $100 per month, beginning on July 1, 1981, to
surviving spouses who receive benefits pursuant to subsection 2 of NRS 286.674.
4. The increases provided in this section
are payable only if and to the extent that they respectively do not exceed the
increase in the Consumer Price Index (All Items) for the calendar year
preceding their payment.
(Added to NRS by 1983, 1929)
NRS 286.579 Postretirement increases: Increase for persons receiving
benefits before January 1, 1977.
1. In addition to the other postretirement
allowances and increases provided by law, the System shall provide a monthly
postretirement increase to each person who began receiving benefits before
January 1, 1977, or to the person’s designated beneficiary upon the person’s
death in these amounts:
Base
Benefit Monthly
Increase
$0—$100...................................................................................................... $20
101— 200........................................................................................................ 15
201— 300........................................................................................................ 10
301— 500........................................................................................................... 5
501 and above................................................................................................... 3
2. A single postretirement increase
pursuant to this section must be prorated among two or more recipients of
benefits for survivors on behalf of one deceased member.
(Added to NRS by 1981, 576)
NRS 286.590 Alternatives to unmodified service retirement allowance. The alternatives to an unmodified service
retirement allowance are as follows:
1. Option 2 consists of a reduced service
retirement allowance payable monthly during the retired employee’s life, with
the provision that it continue after the retired employee’s death for the life
of the beneficiary whom the retired employee nominates by written designation
acknowledged and filed with the Board at the time of retirement should the
beneficiary survive the retired employee.
2. Option 3 consists of a reduced service
retirement allowance payable monthly during the retired employee’s life, with
the provision that it continue after the retired employee’s death at one-half
the rate paid to the retired employee and be paid for the life of the
beneficiary whom the retired employee nominates by written designation
acknowledged and filed with the Board at the time of retirement should the
beneficiary survive the retired employee.
3. Option 4 consists of a reduced service
retirement allowance payable monthly during the retired employee’s life, with
the provision that it continue after the retired employee’s death for the life
of the retired employee’s beneficiary, whom the retired employee nominates by
written designation acknowledged and filed with the Board at the time of the
election, should the retired employee’s beneficiary survive the retired
employee, beginning on the attainment by the surviving beneficiary of age 60.
If a beneficiary designated under this option dies after the date of the
retired employee’s death but before attaining age 60, the contributions of the
retired employee which have not been returned to the retired employee or the
retired employee’s beneficiary must be paid to the estate of the deceased
beneficiary.
4. Option 5 consists of a reduced service
retirement allowance payable monthly during the retired employee’s life, with
the provision that it continue after the retired employee’s death at one-half
the rate paid to the retired employee and be paid for the life of the retired
employee’s beneficiary whom the retired employee nominates by written
designation acknowledged and filed with the Board at the time of the election,
should the retired employee’s beneficiary survive the retired employee,
beginning on the attainment by the surviving beneficiary of age 60. If a
beneficiary designated under this option dies after the date of the retired
employee’s death but before attaining age 60, the contributions of the retired
employee which have not been returned to the retired employee or the retired
employee’s beneficiary must be paid to the estate of the deceased beneficiary.
5. Option 6 consists of a reduced service
retirement allowance payable monthly during the retired employee’s life, with
the provision that a specific sum per month, which cannot exceed the monthly
allowance paid to the retired employee, be paid after the retired employee’s
death to the beneficiary for the life of the beneficiary whom the retired
employee nominates by written designation acknowledged and filed with the Board
at the time of retirement, should the beneficiary survive the retired employee.
6. Option 7 consists of a reduced service
retirement allowance payable monthly during the retired employee’s life, with
the provision that a specific sum per month, which cannot exceed the monthly
allowance paid to the retired employee, be paid after the retired employee’s
death to the beneficiary for the life of the beneficiary whom the retired
employee nominates by written designation acknowledged and filed with the Board
at the time of election, should the beneficiary survive the retired employee,
beginning on the attainment by the surviving beneficiary of age 60 years. If a
surviving beneficiary dies after the date of the retired employee’s death, but
before attaining age 60, all contributions of the retired employee which have
not been returned to the retired employee or the retired employee’s beneficiary
must be paid to the estate of the beneficiary.
[Part 20:181:1947; A 1951, 269; 1953, 386; 1955,
23]—(NRS A 1957, 522; 1961, 200; 1975, 1051; 1977, 1593; 1979, 250, 753; 1983, 483; 1993, 2781)
NRS 286.592 Optional plans: Death of beneficiary; change of selection;
effective date of termination or adjustment of allowance.
1. If a member enters retirement status
under one of the optional plans described in NRS
286.590 and the designated beneficiary predeceases the retired employee,
the retired employee’s monthly retirement allowance must be automatically
adjusted to the unmodified retirement allowance provided in NRS 286.551.
2. A retired employee may not change the
selected option or designated beneficiary after the effective date of
retirement except as provided in subsection 4 of this section and subsection 3
of NRS 286.525.
3. A retired employee who selects an
unmodified retirement allowance may relinquish the retired employee’s right to
that allowance and apply for a refund of the retired employee’s remaining
contributions at any time. A retired employee who selects one of the optional
plans described in NRS 286.590 may relinquish the
retired employee’s right and the right of the beneficiary under that plan and
apply for a refund of the retired employee’s remaining contributions at any
time. If the designated beneficiary is the spouse of the retired employee, or
if the right of the beneficiary is the subject of a court order, the retired
employee shall provide an acknowledged release by the beneficiary of any claim
against the System or the employee’s contributions when applying for a refund.
4. A retired employee may cancel the
retired employee’s selected option and designation of beneficiary and revert to
the unmodified retirement allowance. The retired employee shall make this
election by written designation, acknowledged and filed with the Board. The
written election must be accompanied by a written, notarized acknowledgment of
the change by the beneficiary if the beneficiary is the spouse of the retired
employee. The election to cancel a selected option and revert to the unmodified
allowance does not abrogate any obligation of the retired employee respecting
community property.
5. The termination or adjustment of a
monthly retirement allowance resulting from the death of a retired employee or
beneficiary must not become effective until the first day of the month
immediately following the death of the retired employee or beneficiary.
(Added to NRS by 1983, 491; A 1985, 1718; 1987, 682)
NRS 286.612 Charges for deferred protection: Termination; adjustments of
allowances or benefits.
1. Charges for deferred protection must
not be made on or after July 1, 1995, against the:
(a) Allowance payable to a beneficiary pursuant
to NRS 286.600 or 286.610, as those sections
existed on June 30, 1995.
(b) Service retirement allowance of a member who
selected deferred protection for a beneficiary before July 1, 1975, and who
will retire on or after July 1, 1995.
(c) Service retirement allowance of a member who
selected deferred protection for a beneficiary before July 1, 1975, and who
retired before July 1, 1995.
2. If a charge for deferred protection has
been made against the allowance or benefit of a member or beneficiary on or
after July 1, 1995, the member or beneficiary must notify the Board. The Board
shall adjust the allowance or benefit of the member or beneficiary for any
charge made during the period between July 1, 1995, and the date of
notification.
3. As used in this section, “deferred
protection” means the benefit which a member was permitted to select during
employment before July 1, 1975, pursuant to NRS 286.600 and 286.610, as those sections
existed on June 30, 1995, to provide an allowance to the member’s beneficiary
if the member died while employed and before retirement.
(Added to NRS by 1995, 250)
NRS 286.615 Optional deduction from benefits for payments for group
insurance, plan of benefits or medical and hospital service or other
obligations; regulations; exemption of Executive Officer, Board and System from
liability for errors or omissions.
1. In addition to the options provided in NRS 287.023 and subject to the
requirements of that section, any officer or employee of a governmental entity
enumerated in subsection 1 of NRS 287.023
who retires under the conditions set forth in NRS 1A.350, 1A.480, 286.510
or 286.620 and, at the time of retirement, was
covered or had dependents covered by any group insurance, plan of benefits or
medical and hospital service established pursuant to NRS 287.010, 287.015, 287.020 or paragraph (b), (c) or (d) of
subsection 1 of NRS 287.025, has the
option of having the Executive Officer deduct and pay the retired person’s
premium or contribution for that coverage, as well as the amount due or to
become due upon any obligation designated by the Board pursuant to subsection
2, from the retired person’s monthly retirement allowance until:
(a) The retired person notifies the Executive
Officer to discontinue the deduction; or
(b) Any of the retired person’s dependents elect
to assume the premium or contribution applicable to the dependent’s coverage
before the death of such a retired person and continue coverage pursuant to NRS 287.023 after the retired person’s
death.
2. The Board may adopt regulations to
carry out the provisions of subsection 1, including, but not limited to,
regulations governing the number and types of obligations, amounts for the
payment of which may be deducted and paid by the Board at the option of the
officer or employee pursuant to this section.
3. The Executive Officer, Board and System
are not liable for any damages resulting from errors or omissions concerning
the deductions and payment of premiums or contributions authorized pursuant to
this section unless willful neglect or gross negligence is proven.
(Added to NRS by 1973, 327; A 1985, 40; 1987, 502, 683; 1999, 3022; 2003, 2736, 3259)
NRS 286.620 Disability retirement allowance: Eligibility; calculation of
amount; beneficiaries; effective date of termination or adjustment of
allowance.
1. A member of the System who has 5 years
or more of service credit and who becomes totally unable to perform the
member’s current job or any comparable job for which the member is qualified by
training and experience, because of injury or mental or physical illness of a
permanent nature is eligible to apply for disability retirement if:
(a) Except as otherwise provided in subsection 5,
the member’s employment will be terminated because of the disability;
(b) The member is in the employ of a
participating public employer at the time of application for disability
retirement;
(c) The member proves that the disability renders
the member unable to perform the duties of the member’s present position and of
any other position the member has held within the past year;
(d) The member files a notarized application for
disability retirement with the System which indicates a selection of option and
to which is attached a personal statement by the member, describing the
disability, the duties which the member can and cannot perform, and any
benefits the member is entitled to receive for disability from any other public
source;
(e) The public employer files an official
statement certifying the member’s employment record, job description, work
evaluations, record of disability and absences that have occurred because of
the disability; and
(f) The immediate supervisor of the member files
an official statement regarding the effect upon the work of the member after
the disability, job functions that can and cannot be performed because of the
disability, and whether or not there are alternative jobs that can be performed
by the member.
2. Except as otherwise required as a
result of NRS 286.537, the amount of the disability
retirement allowance must be calculated in the same manner as provided for
service retirement calculations in NRS 286.551,
except that no reduction for the member’s age may be made and that the
allowance must be reduced by the amount of any other benefit received from any
source on account of the same disability:
(a) If the benefit is provided or was purchased
by the expenditure of money by a Nevada public employer; and
(b) To the extent that the total of the
unmodified benefit and the other benefit would otherwise exceed the member’s
average compensation.
3. A member may apply for disability
retirement even if the member is eligible for service retirement.
4. Each child of a deceased recipient of a
disability retirement allowance is entitled to receive the benefits provided by
NRS 286.673 only if the decedent had not reached
the age and completed the service required to be eligible for a service
retirement allowance, except that these benefits must not be paid to anyone who
is named as a beneficiary under one of the options to an unmodified allowance.
5. If a member whose application for
disability retirement has been:
(a) Approved, dies before the member’s employment
is terminated, but within 60 days after the application was approved; or
(b) Mailed before the member’s death as indicated
by the date of the postmark dated by the post office on the envelope in which
it was mailed, dies before the Board has acted upon the application and the
Board approves thereafter the application,
Ê the member’s
beneficiary is entitled to receive an allowance under the option selected
rather than the benefit otherwise provided for a survivor.
6. The termination or adjustment of a
disability retirement allowance resulting from the death of a recipient of an
allowance pursuant to this section must not become effective until the first
day of the month immediately following the death of the recipient.
[Part 22:181:1947; A 1949, 174; 1951, 269]—(NRS A
1957, 206, 526; 1965, 958; 1973, 624; 1975, 1055; 1979, 755, 943; 1981, 453; 1983, 485; 1985, 1719; 1991, 2367)
NRS 286.630 Disability retirement allowance: Approval or denial of
application; medical examination.
1. The Board shall designate medical
advisers to review information which has been submitted by the private
physician of the member, conduct medical examinations, make recommendations and
consult with the Board concerning applications for disability retirement.
2. The Board shall require a medical
examination of each applicant for disability retirement. The examination must
at least consist of:
(a) An examination at an applicant’s expense and
by the applicant’s personal physician who shall submit a written statement to
the Board describing the nature and extent of the applicant’s disability, the
physician’s statement whether or not the member is disabled, and copies of any
medical information necessary to support the statement; and
(b) A review of the written statement from the
applicant’s physician by the Board’s medical advisers.
Ê The member
shall provide any additional information which the Board or medical advisers
deem necessary and shall submit to an additional medical examination upon the
request of the Board. The costs of such additional examination must be paid
from the Public Employees’ Retirement Administrative Fund.
3. The Board shall consider the complete
application for disability retirement and the recommendations of its staff and
the medical advisers, and approve or deny the application.
4. A member may apply to the Board for one
reconsideration within 45 days after the denial by the Board of the member’s
application, if the member can present new evidence which was not available or
the existence of which was not known to the member at the time the Board
originally considered the member’s application.
[Part 22:181:1947; A 1949, 174; 1951, 269]—(NRS A
1975, 1056; 1977,
63; 1981,
454)
NRS 286.634 Disability retirement allowance: Effective date of retirement.
1. The effective date of disability
retirement for a member whose application for disability retirement has been
approved by the Board is:
(a) The day after the member’s last day of
employment; or
(b) The day after the member’s death, if death
intervenes between the member’s application and the member’s retirement.
2. A member whose application for
disability retirement has been approved by the Board must retire from the
member’s employment and begin drawing benefits within 60 days after the date of
the approval or the member must reapply and be reapproved before the member may
draw benefits unless the member remains on sick leave for the entire period of
continued employment.
(Added to NRS by 1981, 443)
NRS 286.637 Disability retirement allowance: Recipient to provide copy of
federal income tax return; Board may require medical examinations.
1. Each recipient of a disability
retirement allowance shall provide to the System a copy of the recipient’s
federal income tax return and withholding statements for all income for the
preceding calendar year by May 1 of each year.
2. The Board may adopt regulations to
require medical examinations of recipients of disability retirement allowances.
Expenses for such medical examinations must be paid from the Public Employees’
Retirement Administrative Fund. If any member receiving such benefits refuses a
reasonable request from the Board to submit to a medical examination, the Board
may discontinue the payment of the member’s benefits and may provide for the
forfeiture of all the member’s benefits which accrue during the discontinuance.
(Added to NRS by 1981, 443)
NRS 286.638 Disability retirement allowance: Reporting to Internal Revenue
Service. The System shall, to the
extent allowed by federal law, report to the Internal Revenue Service of the
United States Department of the Treasury a disability retirement allowance that
is paid to a member of the System as a disability benefit instead of as
retirement income.
(Added to NRS by 2003, 1927)
NRS 286.640 Disability retirement allowance: Cancellation.
1. When the recipient of a disability
retirement allowance is determined by the Board to be no longer disabled, the
allowance must be cancelled.
2. An employee retired on account of
disability whose benefit is cancelled may:
(a) Apply for a refund of unused contributions;
(b) Suspend the monthly benefit until eligible
for service retirement; or
(c) Elect a service retirement reduced for the
retired employee’s age if the retired employee has the service credit necessary
to retire.
[Part 22:181:1947; A 1949, 174; 1951, 269]—(NRS A
1975, 1057; 1981,
455)
NRS 286.650 Disability retirement allowance: Consequences of employment of
recipient.
1. Except as otherwise provided in
subsection 2, whenever a recipient of a disability retirement allowance returns
to employment with a participating public employer, the allowance must be
discontinued, the member shall again become a contributing member of the System
and the member’s service credit at time of disability retirement must be
restored. An amount equivalent to the member’s total employee contributions at
time of disability less 15 percent of total disability benefits paid must be
returned to the member’s individual member account. The member shall retire
under the same retirement plan previously selected for retirement on account of
disability if the member returns to disability retirement or elects service
retirement within 1 year after the member’s return to employment.
2. A recipient of a disability retirement
allowance may be employed and continue to receive the member’s allowance if the
member applies to the Board for approval of the employment before the member
begins to work and the Board approves the application. The application must
include:
(a) A full description of the proposed
employment; and
(b) A statement written by the member declaring the
reasons why the proposed employment should not be found to conflict with the
member’s disability.
[Part 22:181:1947; A 1949, 174; 1951, 269]—(NRS A
1975, 1057; 1981,
455; 1985,
1720; 1991,
1973)
NRS 286.655 Payments for rehabilitation in lieu of disability retirement
allowance. The Board may make
direct payments to a public employer for the rehabilitation of a member
eligible to receive a disability retirement allowance. These payments, up to
but not exceeding the disability retirement allowance, are payable at the
request of the member in lieu of the disability retirement allowance.
(Added to NRS by 1977, 1572)
NRS 286.660 Death of certain member before retirement: Disposition of money
to member’s credit in Public Employees’ Retirement Fund.
1. If a person who is a member of the
System and has less than 2 years of accredited contributing service or has more
than 2 years of accredited service and payments are not due under NRS 286.673 to 286.677,
inclusive, dies before retiring, the amount credited at the time of the
member’s death to the member’s account in the Public Employees’ Retirement Fund
shall be paid directly and without probate or administration to the
beneficiaries which the member designates.
2. Should more than one beneficiary be
named, the amount standing to the credit of the member shall be distributed
equally among such persons unless otherwise specifically directed by the
member. Full payment by the Board to persons designated as beneficiaries shall
discharge the Board and System completely on account of the death.
3. The death of any named beneficiary,
prior to the death of the member, shall operate to distribute the share of the
deceased beneficiary in equal shares to the other named beneficiaries who shall
survive, but if the deceased beneficiary shall be survived by minor children
the share of the deceased beneficiary shall be distributed in equal shares
among such surviving minor children.
4. Should no beneficiaries survive, or
should the member not designate a beneficiary, the amount otherwise due shall
be paid directly to the estate of the deceased member.
[21:181:1947; A 1951, 269]—(NRS A 1963, 985; 1967,
744)
NRS 286.665 Death of member, retired employee or beneficiary: Transfer of
contributions to retirement fund under certain circumstances; procedure for
claiming transferred money.
1. Any contributions remaining in a
member’s, retired employee’s or beneficiary’s individual account must be
transferred to the Public Employees’ Retirement Fund or the Police and
Firefighters’ Retirement Fund upon the death of the member, retired employee or
beneficiary if there is no heir, devisee or legatee capable of receiving the
money.
2. If, within 6 years after any transfer
under subsection 1, any person appears and claims any money which was
transferred to a retirement fund, the claimant may file a petition in the
District Court for Carson City stating the nature of the claim, with an
appropriate prayer for the relief demanded. A copy of the petition must be
served upon the Attorney General before or at the time of filing it. Within 20
days after service, the Attorney General shall appear in the proceeding and
respond to the petition. If, after examining all the facts, the Attorney
General is convinced that the System has no legal defense against the petition,
the Attorney General may, with the consent of the Court, confess judgment on
behalf of the System.
3. If judgment is not confessed, the
petition must be considered at issue on the 20th day after its filing, and may
be heard by the Court on that day, or at such future day as the Court may
order. Upon the hearing, the Court shall examine into the claim and hear the
allegations and proofs. If the Court finds that the claimant is entitled to any
money transferred under subsection 1 to a retirement fund, it shall order the
Public Employees’ Retirement Board to pay such money forthwith to the claimant,
but without interest or cost to the Board.
4. All persons, except minors and persons
of unsound mind, who fail to appear and file their petitions within the time
limited in subsection 2 are forever barred. Minors and persons of unsound mind
may appear and file their petitions at any time within 5 years after their
respective disabilities are removed.
(Added to NRS by 1977, 1573; A 1979, 259; 2003, 2064)
NRS 286.667 Allowance for retired police officer or firefighter: Benefits
for spouse upon death; credit for certain other service prohibited; costs of
benefit paid by employee.
1. A retired employee whose service or
disability retirement allowance is payable from the Police and Firefighters’
Retirement Fund is entitled to receive the allowance without modification.
2. Upon the death of such a retired
employee, a person who was the retired employee’s spouse at the time of
retirement is entitled, upon attaining the age of 50 years, to receive a
benefit equal to 50 percent of the allowance to which the retired employee was
entitled.
3. This section does not apply to a person
who:
(a) Begins receiving a service or disability
retirement allowance or a benefit from the Police and Firefighters’ Retirement
Fund before July 1, 1981.
(b) At the time of retirement, elects one of the
alternatives to an unmodified retirement allowance.
4. Service performed after July 1, 1981,
in positions other than as a police officer or firefighter, except military
service, may not be credited toward the benefit conferred by this section. A
police officer or firefighter who has performed service which is not creditable
toward this benefit may elect to:
(a) Select a retirement option other than one
permitted by this section;
(b) Receive the benefit conferred by this section
with a spouse’s benefit reduced by a proportion equal to that which the service
which is not creditable bears to the police officer’s or firefighter’s total
service; or
(c) Purchase the additional spouse’s benefit at
the time the police officer or firefighter retires by paying the full actuarial
cost as computed for the police officer’s or firefighter’s situation by the
actuary of the System.
5. The entire cost of the benefit
conferred by this section must be paid by the employee. Each employer must
adjust the salaries of its employees who are eligible for the benefit to offset
its cost to the employer. Employers who adjust salaries pursuant to this
subsection do not by doing so violate any collective bargaining agreement or
other contract.
(Added to NRS by 1979, 945; A 1981, 441; 1983, 487, 1931; 1985, 1721; 1999, 2621; 2003, 2065)
NRS 286.669 Person convicted of murder or voluntary manslaughter of member
ineligible to receive benefits. Any
person convicted of the murder or voluntary manslaughter of a member of the
System is ineligible to receive any benefit conferred by any provision of this
chapter by reason of the death of that member. The System may withhold the
payment of any benefit otherwise payable under this chapter by reason of the
death of any member from any person charged with the murder or voluntary
manslaughter of that member, pending final determination of those charges.
(Added to NRS by 1979, 759)
NRS 286.670 Right to benefits not subject to taxes, process, bankruptcy,
assignment or assessment for impairment or insolvency of insurance company;
exceptions.
1. Except as otherwise provided in NRS 31A.150 and 286.6703
and as limited by subsection 2, the right of a person to a pension, an annuity,
a retirement allowance, the return of contributions, the pension, annuity or
retirement allowance itself, any optional benefit or death benefit or any other
right accrued or accruing to any person under the provisions of this chapter,
and the money in the various funds created by this chapter, is:
(a) Exempt from all state, county and municipal
taxes.
(b) Not subject to execution, garnishment,
attachment or any other process.
(c) Not subject to the operation of any
bankruptcy or insolvency law.
(d) Not assignable, by power of attorney or
otherwise.
(e) Exempt from assessment for the impairment or
insolvency of any life or health insurance company.
2. The System may withhold money from a
refund or benefit when the person applying for or receiving the refund or
benefit owes money to the System.
[24:181:1947; 1943 NCL § 5230.24]—(NRS A 1959, 411;
1969, 512; 1981,
456; 1983,
1878; 1985,
1431; 1987,
484; 1993,
478)
NRS 286.6703 Payment of allowance or benefit to alternate payee pursuant to
domestic relations order.
1. A person may submit a judgment, decree
or order of a district court, the Court of Appeals or the Supreme Court of the
State of Nevada relating to child support, alimony or the disposition of
community property to the Executive Officer or the designee of the Executive
Officer for a determination of whether the judgment, decree or order entitles
an alternate payee to receive from the System all or a portion of the allowance
or benefit of a member or a retired employee.
2. The judgment, decree or order submitted
to the Executive Officer must be signed by a district judge, the judges of the
Court of Appeals or by the justices of the Supreme Court and entered and
certified by the clerk of the district court or the Clerk of the Supreme Court.
3. The Executive Officer or the designee
of the Executive Officer shall, in accordance with rules prescribed by the
Board, determine whether the judgment, decree or order entitles the alternate
payee to receive an allowance or benefit from the System. An alternate payee is
entitled to receive an allowance or benefit from the System if the judgment,
decree or order:
(a) Specifies clearly the names and last known
mailing addresses, if any, of the member or retired employee and the alternate
payee;
(b) Specifies clearly the amount, percentage or
manner of determining the amount of the allowance or benefit of the member or
retired employee that must be paid by the System to each alternate payee;
(c) Specifically directs the System to pay an
allowance or benefit to the alternate payee;
(d) Does not require the System to provide an
allowance or benefit or any option not otherwise provided under this chapter;
and
(e) Does not require the payment of an allowance
or benefit to an alternate payee before the retirement of a member or the
distribution to or withdrawal of contributions by a member.
4. For purposes of this subsection,
“alternate payee” means a spouse, former spouse, child or other dependent of a
member or retired employee who, pursuant to a judgment, decree or order relating
to child support, alimony or the disposition of community property, is entitled
to receive all or a portion of the allowance or benefit of a member or retired
member from the System.
(Added to NRS by 1993, 473; A 2005, 1066; 2013, 1776)
NRS 286.6705 Transfer of unpaid check for benefits or refund to retirement
fund; claim for payment of money; period of limitation.
1. Any check for benefits or a refund
which has not been paid within 5 years after being transferred to the account
for unclaimed benefits or refunds must be transferred to the Public Employees’
Retirement Fund or Police and Firefighters’ Retirement Fund, whichever is
appropriate.
2. If, within 6 years after a check for
benefits or a refund has been transferred pursuant to subsection 1, any person
appears and claims the money, the claimant may file a petition in the District
Court for Carson City stating the nature of the claim, with an appropriate
prayer for the relief demanded. A copy of the petition must be served upon the
Attorney General before or at the time it is filed. Within 20 days after
service, the Attorney General shall appear in the proceeding and respond to the
petition. If, after examining all the facts, the Attorney General is convinced
that the System has no legal defense against the petition, the Attorney General
may, with the consent of the Court, confess judgment on behalf of the System.
3. If judgment is not confessed, the
petition must be considered at issue on the 20th day after its filing, and may
be heard by the Court on that day, or at such future day as the Court may
order. Upon the hearing, the Court shall examine into the claim and hear the
allegations and proofs. If the Court finds that the claimant is entitled to any
money transferred pursuant to subsection 1 to a retirement fund, it shall order
the Board to pay the money forthwith to the claimant, but without interest or
cost to the Board.
4. All persons, except minors and persons
of unsound mind, who fail to appear and file their petitions within the time
limited in subsection 1 are forever barred. Minors and persons of unsound mind
may appear and file their petitions at any time within 5 years after their
respective disabilities are removed.
(Added to NRS by 1987, 681; A 2003, 2065)
BENEFITS FOR SURVIVORS
General Provisions
NRS 286.671 Definitions. As
used in NRS 286.671 to 286.679,
inclusive:
1. “Child” means an unmarried person under
18 years of age who is the issue or legally adopted child of a deceased member.
As used in this subsection, “issue” means the progeny or biological offspring
of the deceased member.
2. “Dependent parent” means the surviving
parent of a deceased member who was dependent upon the deceased member for at
least 50 percent of the surviving parent’s support for at least 6 months
immediately preceding the death of the deceased member.
3. “Spouse” means the surviving husband or
wife of a deceased member.
(Added to NRS by 1963, 983; A 1975, 1058; 1977, 1594; 1989, 1563; 1995, 253)
NRS 286.672 Eligibility.
1. Except as otherwise provided in
subsection 3, if a deceased member had 2 years of accredited contributing
service in the 2 1/2 years immediately preceding the member’s death or was a
regular, part-time employee who had 2 or more years of creditable contributing
service before and at least 1 day of contributing service within 6 months
immediately preceding the member’s death, or if the employee had 10 or more
years of accredited contributing service, certain of the deceased member’s
dependents are eligible for payments as provided in NRS
286.671 to 286.679, inclusive. If the death of
the member resulted from a mental or physical condition which required the
member to leave the employ of a participating public employer or go on leave
without pay, eligibility pursuant to the provisions of this section extends for
18 months after the member’s termination or commencement of leave without pay.
2. If the death of a member occurs while
the member is on leave of absence granted by the member’s employer for further
training and if the member met the requirements of subsection 1 at the time the
member’s leave began, certain of the deceased member’s dependents are eligible
for payments as provided in subsection 1.
3. If the death of a member is caused by
an occupational disease or an accident arising out of and in the course of the
member’s employment, no prior contributing service is required to make the
deceased member’s dependents eligible for payments pursuant to NRS 286.671 to 286.679,
inclusive, except that this subsection does not apply to an accident occurring
while the member is traveling between the member’s home and the member’s
principal place of employment or to an accident or occupational disease arising
out of employment for which no contribution is made.
4. As used in this section, “dependent”
includes a survivor beneficiary designated pursuant to NRS
286.6767.
(Added to NRS by 1963, 983; A 1967, 1064; 1975, 1058;
1977, 1594;
1979, 756, 944; 1989, 1025; 1995, 253; 2001, 1290)
Children
NRS 286.673 Payments to child of deceased member.
1. Except as limited by NRS 286.6775, each child of a deceased member is
entitled to receive a cumulative benefit of at least $400 per month, beginning
on the first day of the month following the member’s death.
2. Payments to any child cease on the last
day of the month of:
(a) The child’s adoption;
(b) The child’s death;
(c) The child’s marriage; or
(d) Except as otherwise provided in subsection 3,
4 or 5, the child’s attaining the age of 18 years.
3. Except as otherwise provided in
subsection 4, these benefits may be paid to the child of a deceased member
until the last day of the month of the child’s 23rd birthday if, at the time
that the child attains 18 years, the child is, and continues thereafter to be,
a full-time student in any accredited:
(a) High school;
(b) Vocational or technical school; or
(c) College or university.
4. If the Board ceases the payment of
benefits to a child of a deceased member who received benefits pursuant to
subsection 3 because the child ceased being a full-time student, the Board may
resume the payment of such benefits until the last day of the month of the
child’s 23rd birthday if the child returns to full-time status at an
accredited:
(a) High school;
(b) Vocational or technical school; or
(c) College or university.
5. These benefits may be commenced or
extended indefinitely beyond a child’s 18th birthday if and so long as the
child is determined by the System to be:
(a) Financially dependent; and
(b) Physically or mentally incompetent.
6. All benefits under this section may be
paid by the System to the child’s:
(a) Surviving parent; or
(b) Legal guardian.
7. The Board shall establish uniform
standards and procedures for determining whether a child is:
(a) A full-time student;
(b) Financially dependent; and
(c) Physically or mentally incompetent.
(Added to NRS by 1963, 983; A 1975, 1058; 1977, 1595; 1979, 757; 1983, 487; 1989, 1026; 1995, 254; 1999, 2621; 2005, 1066)
Spouses
NRS 286.674 Payments to spouse of deceased member.
1. The spouse of a deceased member is
entitled to receive a cumulative benefit of at least $450 per month. The
payments must begin on the first day of the month immediately following the
death of the member and must cease on the last day of the month in which the
spouse dies. If payments cease before the total amount of contributions made by
the deceased member have been received by the spouse, the surplus of
contributions over payments received must be paid to the spouse.
2. The benefits paid pursuant to this
section are in addition to any benefits paid pursuant to NRS
286.673.
(Added to NRS by 1963, 984; A 1975, 1059; 1983, 488; 1989, 1026; 1995, 254; 1999, 2622)
NRS 286.676 Payments to spouse of deceased member who had 10 or more years
of accredited contributing service.
1. Except as limited by subsections 3 and
4, the spouse of a deceased member who had 10 or more years of accredited
contributing service is entitled to receive a monthly allowance equivalent to
that provided by:
(a) Option 3 in NRS
286.590, if the deceased member had less than 15 years of service on the
date of the member’s death; or
(b) Option 2 in NRS
286.590, if the deceased member had more than 15 years of service on the
date of the member’s death.
Ê To apply the
provisions of Options 2 and 3, the deceased member shall be deemed to have
retired on the date of the member’s death immediately after having named the
spouse as beneficiary under the applicable option. This benefit must be
computed without any reduction for age for the deceased member. The benefits
provided by this subsection must be paid to the spouse for the remainder of the
spouse’s life.
2. The spouse may elect to receive the
benefits provided by any one of the following only:
(a) This section;
(b) NRS 286.674; or
(c) NRS 286.6766.
3. The benefit payable to the spouse of a
member who died before May 19, 1975, is limited to a spouse who received at
least 50 percent of the spouse’s support from the member during the 6 months
immediately preceding the member’s death and to the amounts provided in this
subsection. If, at the time of the member’s death, the member had 15 or more
years of service and did not elect an optional retirement plan as offered in
this chapter, the deceased member’s spouse, upon attaining the age of 60 years,
may receive a cumulative benefit of at least $450 per month or 50 percent of
the average salary received by the member for the 3 consecutive highest
salaried years of the member’s last 10 years of service, whichever is less.
Payments, or the right to receive payments, must cease upon the death of the
spouse. Benefits under this section are not renewable following termination.
4. The benefits provided by paragraph (a)
of subsection 1 may only be paid to the spouses of members who died on or after
May 19, 1975.
(Added to NRS by 1963, 984; A 1967, 1093; 1975, 1059;
1979, 260, 758; 1981, 457; 1987, 684; 1989, 1027; 1995, 254; 1999, 2622)
NRS 286.6765 Payments to spouse if deceased member was eligible to retire.
1. Except as limited by subsection 2, the
spouse of a deceased member who was fully eligible to retire, both as to
service and age, is entitled to receive a monthly allowance equivalent to that
provided by option 2 in NRS 286.590. This section
does not apply to the spouse of a member who was eligible to retire only under
subsection 6 of NRS 286.510. For the purposes of
applying the provisions of option 2, the deceased member shall be deemed to
have retired on the date of the member’s death immediately after having named
the spouse as beneficiary under option 2. The benefits provided by this section
must be paid to the spouse for the remainder of the spouse’s life. The spouse
may elect to receive the benefits provided by any one of the following only:
(a) This section;
(b) NRS 286.674;
(c) NRS 286.676; or
(d) NRS 286.6766.
2. The benefits provided by this section
may only be paid to the spouses of members who died on or after May 19, 1975.
(Added to NRS by 1981, 442; A 1999, 973)
NRS 286.6766 Payment in lump sum to spouse; exception. Any spouse eligible for payments under the
provisions of NRS 286.674 or 286.676
may elect to waive payment of a monthly allowance and to receive instead in a
lump sum a refund of all contributions to the Public Employees’ Retirement Fund
or the Police and Firefighters’ Retirement Fund made by a deceased member plus
any contributions made by a public employer in lieu of the employee’s
contributions, but if more than one person is eligible for benefits on account
of the contributions of any one deceased member, no such lump-sum payment may
be made.
(Added to NRS by 1963, 985; A 1975, 1060; 1977, 1595; 1983, 488; 2003, 2066)
Survivor Beneficiaries and Additional Payees
NRS 286.6767 Designation of survivor beneficiary and additional payees by
member.
1. A member may designate, in writing, a
survivor beneficiary and one or more additional payees to receive the payments
provided pursuant to NRS 286.67675, 286.6768 or 286.67685
if the member is unmarried on the date of the member’s death.
2. A designation pursuant to subsection 1
must be made on a form approved by the Executive Officer. If a member has
designated one or more payees in addition to the survivor beneficiary, the
member must designate the percentage of the payments that the survivor
beneficiary and each additional payee is entitled to receive.
(Added to NRS by 2001, 1287; A 2003, 2066)
NRS 286.67675 Payments to survivor beneficiary of and to additional payees
designated by deceased member.
1. Except as otherwise provided in this
subsection, the survivor beneficiary of a deceased member is entitled to
receive a cumulative benefit of at least $450 per month. If a member has
designated one or more payees in addition to the survivor beneficiary pursuant
to NRS 286.6767, the cumulative benefit paid
pursuant to this subsection must be divided between the survivor beneficiary
and any additional payee in the proportion designated by the member pursuant to
NRS 286.6767. The payments must begin on the first
day of the month immediately following the death of the member and must cease
on the last day of the month in which the survivor beneficiary dies.
2. Except as otherwise provided in this
subsection, if payments made pursuant to subsection 1 cease before the total amount
of contributions made by the deceased member have been received by the survivor
beneficiary, the surplus of contributions over payments received must be paid
to the survivor beneficiary. If the member had designated one or more payees in
addition to the survivor beneficiary pursuant to NRS
286.6767, the surplus of contributions over payments received must be
divided between the survivor beneficiary and any additional payee in the proportion
designated by the member pursuant to NRS 286.6767.
3. The benefits paid pursuant to this
section are in addition to any benefits paid pursuant to NRS
286.673.
4. As used in this section, “survivor
beneficiary” means a person designated pursuant to NRS
286.6767.
(Added to NRS by 2001, 1287; A 2003, 2066)
NRS 286.6768 Payments to survivor beneficiary of and to additional payees
designated by deceased member who had 10 or more years of accredited
contributing service.
1. Except as otherwise provided in
subsection 2 and as limited by subsection 4, the survivor beneficiary of a
deceased member who had 10 or more years of accredited contributing service is
entitled to receive a monthly allowance equivalent to that provided by:
(a) Option 3 in NRS
286.590, if the deceased member had less than 15 years of service on the
date of the member’s death; or
(b) Option 2 in NRS
286.590, if the deceased member had 15 or more years of service on the date
of the member’s death.
Ê To apply the
provisions of Options 2 and 3, the deceased member shall be deemed to have
retired on the date of the member’s death immediately after having named the
survivor beneficiary as beneficiary pursuant to the applicable option. This
benefit must be computed without any reduction for age for the deceased member.
The benefits provided by this subsection must be paid to the survivor
beneficiary for the remainder of the life of the survivor beneficiary.
2. If the member had designated one or
more payees in addition to the survivor beneficiary pursuant to NRS 286.6767, the monthly allowance to which a
survivor beneficiary is entitled pursuant to subsection 1 must be divided
between the survivor beneficiary and any additional payee in the proportion
designated by the member pursuant to NRS 286.6767.
3. The survivor beneficiary may elect to
receive the benefits provided by any one of the following only:
(a) This section;
(b) NRS 286.67675;
or
(c) NRS 286.6769.
4. The benefits provided by paragraph (a)
of subsection 1 may only be paid to the survivor beneficiary and, if
applicable, any additional payee of a member who died on or after January 1,
2002.
5. As used in this section, “survivor
beneficiary” means a person designated pursuant to NRS
286.6767.
(Added to NRS by 2001, 1287; A 2001
Special Session, 99; 2003, 2067)
NRS 286.67685 Payment to survivor beneficiary of and to additional payees
designated by deceased member if deceased member was eligible to retire.
1. Except as otherwise provided in
subsection 2 and as limited by subsection 3, the survivor beneficiary of a
deceased member who was fully eligible to retire, both as to service and age,
is entitled to receive a monthly allowance equivalent to that provided by
Option 2 in NRS 286.590. This section does not
apply to the survivor beneficiary of a member who was eligible to retire only
pursuant to subsection 6 of NRS 286.510. For the
purposes of applying the provisions of Option 2, the deceased member shall be
deemed to have retired on the date of the member’s death immediately after
having named the survivor beneficiary as beneficiary pursuant to Option 2. The
benefits provided by this section must be paid to the survivor beneficiary for
the remainder of the life of the survivor beneficiary. The survivor beneficiary
may elect to receive the benefits provided by any one of the following only:
(a) This section;
(b) NRS 286.67675;
(c) NRS 286.6768; or
(d) NRS 286.6769.
2. If the member had designated one or
more payees in addition to the survivor beneficiary pursuant to NRS 286.6767, the monthly allowance to which a
survivor beneficiary is entitled pursuant to subsection 1 must be divided
between the survivor beneficiary and any additional payee in the proportion
designated by the member pursuant to NRS 286.6767.
3. The benefits provided by this section
may only be paid to the survivor beneficiary and, if applicable, any additional
payee of a member who died on or after January 1, 2002.
4. As used in this section, “survivor
beneficiary” means a person designated pursuant to NRS
286.6767.
(Added to NRS by 2001, 1288; A 2003, 2067)
NRS 286.6769 Payment in lump sum to survivor beneficiary of and to additional
payees designated by member; exception.
1. Except as otherwise provided in
subsection 2, any survivor beneficiary eligible for payments pursuant to the
provisions of NRS 286.67675 or 286.6768 may elect to waive payment of a monthly
allowance and to receive instead in a lump sum a refund of all contributions to
the Public Employees’ Retirement Fund or the Police and Firefighters’
Retirement Fund made by a deceased member plus any contributions made by a
public employer in lieu of the employee’s contributions, but if more than one
person is eligible for benefits on account of the contributions of any one deceased
member, no such lump-sum payment may be made.
2. If the member had designated one or
more payees in addition to the survivor beneficiary pursuant to NRS 286.6767, the lump sum to which a survivor
beneficiary is entitled pursuant to subsection 1 must be divided between the
survivor beneficiary and any additional payee in the proportion designated by
the member pursuant to NRS 286.6767.
3. As used in this section, “survivor
beneficiary” means a person designated pursuant to NRS
286.6767.
(Added to NRS by 2001, 1288; A 2003, 2068)
Parents
NRS 286.677 Payment to dependent parents; conditions. If payments or refunds are not made pursuant
to the provisions of NRS 286.673, 286.674, 286.676, 286.67675 or 286.6768,
the dependent parent of a deceased member is entitled to receive a cumulative
benefit of at least $400 per month, and if there are two dependent parents,
each is entitled to receive a cumulative benefit of at least $400 per month.
Payments to any parent pursuant to this section must cease upon the death of
that parent.
(Added to NRS by 1963, 985; A 1975, 1060; 1989, 1028; 1995, 255; 1999, 2623; 2001, 1291)
Limitations and Disposition of Surplus
NRS 286.6775 Limitation on and reduction of amount of monthly allowance. The amount of each monthly allowance paid
since May 19, 1977, as specified in NRS 286.673 to 286.677, inclusive, shall not exceed the deceased
member’s average compensation and shall be reduced by the amount of any other
benefit received from any source:
1. If that benefit was provided or
purchased by the expenditure of money by a public employer in this state,
except for lump-sum payments under a group insurance program; and
2. To the extent that the total of the
allowance and the other benefit would otherwise exceed the deceased member’s
average compensation.
(Added to NRS by 1977, 1573; A 1979, 758; 2001, 1291)
NRS 286.679 Disposition of surplus of contributions if payments to
beneficiary cease.
1. If payments to a beneficiary pursuant
to NRS 286.671 to 286.679,
inclusive, cease before the total contributions of a deceased member have been
paid in benefits, and there is no person entitled to receive such benefits
pursuant to any provision of this chapter, the surplus of such contributions
over the benefits actually received may be paid in a lump sum to:
(a) The beneficiary whom the deceased member
designated for this purpose in writing on a form approved by the System.
(b) If no such designation was made or the person
designated is deceased, the beneficiary who previously received the payments.
(c) If no payment may be made pursuant to
paragraphs (a) and (b), the persons entitled as heirs or residuary legatees to
the estate of the deceased member.
2. A lump-sum payment made pursuant to
this section fully discharges the obligations of the System.
(Added to NRS by 1963, 985; A 1983, 489; 1995, 255; 2001, 1291)
VESTING OF ALLOWANCES AND BENEFITS
NRS 286.6793 Time of vesting; vesting of benefits upon termination of System.
1. The retirement allowance for a member
who:
(a) Ceased being an active member before July 1,
1989, vested on the date that the employee completed 10 years of accredited
contributing service; and
(b) Is active on or after July 1, 1989, becomes
vested on the date that the employee completes 5 years of accredited
contributing service.
2. Benefits for survivors offered pursuant
to this chapter become vested on the date that the employee completes 10 years
of accredited contributing service or becomes entitled to begin receiving
benefits or on the date of the member’s death, whichever event occurs first.
3. Unless otherwise specifically provided
by the amendatory act, any change in the provisions of this chapter is
retroactive for all service of any member before the date of vesting, but no
change may impair any vested allowance or benefit.
4. Upon the termination or partial
termination of the System:
(a) Except as otherwise provided in paragraph
(b), all accrued benefits that are funded become 100 percent vested and
nonforfeitable.
(b) A member who receives the member’s vested
accrued benefits in a complete cash distribution before the termination is not
entitled to the vesting of any benefits which have been forfeited.
(Added to NRS by 1967, 744; A 1975, 1060; 1977, 1595; 1979, 261; 1981, 457; 1989, 1028; 1991, 2369; 2001, 1291)
INVESTMENT OF MONEY
NRS 286.680 Investment by Board of money in funds; qualifications and
employment of investment counsel; employment of other services; liability for
investment decisions.
1. In addition to the provisions of chapter 355 of NRS, the Board may invest and
reinvest the money in its funds as provided in this section and NRS 286.682 and may employ investment counsel for that
purpose. The Board may also employ investment supervisory services, trust audit
services and other related investment services which it deems necessary to
invest effectively and safeguard the money in the System’s funds.
2. No person engaged in business as a
broker or dealer in securities or who has a direct pecuniary interest in any
such business who receives commissions for transactions performed as agent for
the Board is eligible for employment as investment counsel for the Board.
3. The Board shall not engage investment
counsel unless:
(a) The principal business of the person selected
by the Board consists of giving continuous advice as to the investment of money
on the basis of the individual needs of each client;
(b) The person and the person’s predecessors have
been continuously engaged in such a business for a period of 5 or more years;
(c) The person is registered as an investment
adviser under the laws of the United States as from time to time in effect, or
is a bank or an investment management subsidiary of a bank; and
(d) The contract between the Board and the
investment counsel is of no specific duration and is voidable at any time by
either party.
4. The Board and its individual members
are not liable for investment decisions made by investment counsel if they
obtain qualified investment counsel, establish proper objectives and policies
for investments, and issue appropriate interim directives. Investment counsel
is liable for any investment decision that is not made in accordance with the
objectives and policies established by the Board and any applicable interim
directives.
5. The expenses incurred in obtaining and
reviewing services pursuant to the provisions of this section and the
reimbursements to employees for their expenses incurred in connection with
investment decisions must be paid out of the Public Employees’ Retirement Fund
and the Police and Firefighters’ Retirement Fund in proportion to their
respective assets.
6. The Board shall tender invitations to
banks and credit unions for commercial banking and trust services, consider
proposals submitted by interested banks and credit unions, and consider
contracts for commercial banking and trust services at least every 5 years.
(Added to NRS by 1959, 882; A 1965, 685, 959; 1973,
857; 1975, 1061; 1977,
1595; 1983,
489; 1987,
512; 1993,
478; 1999,
1467; 2003,
2068)
NRS 286.682 Authorized investments: “Prudent person” standard. The Board may invest the money in its funds in
every kind of investment which persons of prudence, discretion and intelligence
acquire or retain for their own account.
(Added to NRS by 1973, 850; A 1975, 1062; 1997, 1607)
INVESTMENTS IN COMPANIES WITH CERTAIN OPERATIONS IN IRAN
NRS 286.701 Definitions. As
used in NRS 286.701 to 286.725,
inclusive, unless the context otherwise requires, the words and terms defined
in NRS 286.703 to 286.719,
inclusive, have the meanings ascribed to them in those sections.
(Added to NRS by 2009, 2776)
NRS 286.703 “Active business operations” defined. “Active
business operations” means all business operations that are not inactive
business operations.
(Added to NRS by 2009, 2776)
NRS 286.705 “Business operations” defined. “Business
operations” means investing, with actual knowledge on or after August 5, 1996,
in Iran’s petroleum sector, which investment directly and significantly
contributes to the enhancement of Iran’s ability to develop the petroleum
resources of Iran. The term does not include the retail sale of gasoline and
related consumer products.
(Added to NRS by 2009, 2776)
NRS 286.707 “Company” defined. “Company”
means any foreign sole proprietorship, organization, association, corporation,
partnership, joint venture, limited partnership, limited-liability partnership,
limited-liability company, or any other foreign entity or business association,
including all wholly-owned subsidiaries, majority-owned subsidiaries or parent
companies or affiliates of these entities or business associations, that exist
for the purpose of making a profit.
(Added to NRS by 2009, 2776)
NRS 286.709 “Direct holdings” defined. “Direct
holdings” means all publicly traded equity securities of a company that are
held directly by the public fund or in an account or fund in which the public
fund owns all shares or interests.
(Added to NRS by 2009, 2776)
NRS 286.711 “Inactive business operations” defined. “Inactive
business operations” means the continued holding or renewal of rights to
property previously operated for the purpose of generating revenues but not
presently deployed for that purpose.
(Added to NRS by 2009, 2776)
NRS 286.713 “Iran” defined. “Iran”
means the Islamic Republic of Iran.
(Added to NRS by 2009, 2776)
NRS 286.715 “Petroleum resources” defined. “Petroleum
resources” means petroleum or natural gas.
(Added to NRS by 2009, 2776)
NRS 286.717 “Scrutinized business operations” defined. “Scrutinized business operations” means any
active business operations that:
1. Are subject to or liable for sanctions
under the Iran Sanctions Act of 1996, Public Law 104-172, as amended; and
2. Involve the maintenance of:
(a) The company’s existing assets or investments
in Iran; or
(b) The deployment of new investments to Iran
that meet or exceed the threshold referred to in the Iran Sanctions Act of
1996, as amended.
(Added to NRS by 2009, 2776)
NRS 286.719 “Scrutinized company” defined. “Scrutinized
company” means any company engaging in scrutinized business operations.
(Added to NRS by 2009, 2777)
NRS 286.721 Board to identify, review and create list of investments in
scrutinized companies.
1. Except as otherwise provided in NRS 286.725, the Board shall identify those
scrutinized companies in which the System has direct holdings. In making the
determination, the Board shall review and rely on publicly available
information regarding companies with business operations in Iran, including
information provided by nonprofit organizations, research firms, international
organizations and governmental entities.
2. The Board shall create a list of all
identified scrutinized companies pursuant to subsection 1.
3. The Board shall update the list on an
annual basis with information provided and received from those entities listed
in subsection 1.
(Added to NRS by 2009, 2777)
NRS 286.723 Board to prepare report of investments in scrutinized companies.
1. Except as otherwise provided in NRS 286.725, the Board shall prepare an annual report
of investments of money from the System in scrutinized companies as identified
pursuant to NRS 286.721. The report must include
the amount of money allocated in such investments and other data and statistics
designed to explain the past and current extent to which funds from the System
are invested in scrutinized companies.
2. The Board shall submit a copy of the
report to the Governor and the Director of the Legislative Counsel Bureau for
distribution to the Legislature on or before February 1 of each year which must
cover all investments during the previous calendar year.
(Added to NRS by 2009, 2777)
NRS 286.725 Inapplicability to certain investments. The
provisions of NRS 286.721 and 286.723 do not apply to:
1. Money invested in a defined
contribution plan that is authorized by the Internal Revenue Code and
administered by the Board; or
2. Investments in a company that is
primarily engaged in:
(a) Supplying goods or services intended to
relieve human suffering in Iran; or
(b) Promoting health, education, religious,
welfare or journalistic activities in Iran.
(Added to NRS by 2009, 2777)
UNIVERSITY OF NEVADA RETIREMENT PROGRAM
NRS 286.802 Board of Regents to establish separate program for retirement of
certain employees; contributions; enrollment.
1. The Board of Regents of the University
of Nevada shall provide a retirement program separate from the Public
Employees’ Retirement System. The program must provide retirement and death
benefits for members of the professional staff. The State and the participants
shall contribute to the cost of the program.
2. A person employed as a member of the
professional staff who is enrolled in the Public Employees’ Retirement System
at the time of the person’s employment shall remain a member of that System.
Any other eligible employee must be enrolled in the retirement program.
(Added to NRS by 1969, 242; A 1977, 1597; 1993, 480)
NRS 286.804 Program may be separate system or fund; participation in larger
system or fund; provision of benefits through investment entity or combination
of entities.
1. The retirement program may be a
separate system or fund or may participate in a larger system or fund with
respect to some or all of the benefits provided under the program. The benefits
under the retirement program may be provided through any investment entity or
combination of entities, including, but not limited to:
(a) An insurance or annuity contract, either
fixed or variable in nature;
(b) A mutual fund;
(c) A bank or other depository institution; and
(d) An investment adviser who is registered
pursuant to the Investment Advisers Act of 1940,
Ê as specified
in the program.
2. If benefits are provided through
insurance or annuity contracts, the contracts may be obtained from any life
insurance or annuity company authorized to do business in this State, or from
an affiliate of such a company if the affiliate is organized as a nonprofit
educational corporation and issues annuities only to nonprofit institutions of
education and research.
3. As used in this section, “depository
institution” has the meaning ascribed to it in NRS 657.037.
(Added to NRS by 1969, 242; A 1977, 1597; 1987, 484; 1993, 481)
NRS 286.808 Contributions; payment by Board of Regents on behalf of
participant.
1. The Board of Regents of the University
of Nevada shall contribute on behalf of each participant an amount equal to 10
percent of the participant’s gross compensation during continuance of
employment. Each participant shall also contribute 10 percent of the
participant’s gross compensation, but the contributions required by this
section must not be less than those authorized by NRS
286.410 and 286.450. Payment of the
contributions required by this section must be made by the disbursing officer
for the Nevada System of Higher Education to the designated investment entities
for the benefit of each participant.
2. The Board of Regents of the University
of Nevada may, on behalf of each participant, pay the contribution required to
be paid by the participant in subsection 1. Any such payment must be:
(a) Made in lieu of an equivalent increase in the
basic salary or in the cost of living for the participant, or both; or
(b) Counterbalanced by an equivalent reduction in
the participant’s salary.
(Added to NRS by 1969, 243; A 1973, 1418; 1975, 1062;
1985, 1722;
1991, 1748;
1993, 384, 481; 1995, 512)
NRS 286.810 Designation of investment entities; approval of contracts. The Board of Regents of the University of
Nevada shall designate the investment entities to provide investment services
under the retirement program and shall approve the form and contents of the
contracts. In making the designation and giving the approval, the Board shall
consider:
1. The nature and extent of the rights and
benefits to be provided by such contracts for staff members and their
beneficiaries;
2. The relation of such rights and
benefits to the amount of contributions to be made;
3. The suitability of such rights and
benefits to the needs of the staff members and the interests of the Nevada
System of Higher Education in the recruitment and retention of staff members;
and
4. The ability of the designated
investment entities to provide such suitable rights and benefits under such
contracts.
(Added to NRS by 1969, 243; A 1977, 1597; 1993, 384, 481; 1995, 512)
NRS 286.812 Administration of program. The
Board of Regents of the University of Nevada shall provide for the
administration of the program and perform all functions which may be necessary
for the accomplishment of the program.
(Added to NRS by 1969, 243; A 1977, 1597)
NRS 286.814 Participants ineligible for membership in Public Employees’
Retirement System. Any member of
the professional staff of the Nevada System of Higher Education enrolled in the
retirement program is ineligible for membership in the Public Employees’
Retirement System so long as the member remains continuously employed in any
position by the Nevada System of Higher Education and continues in the
retirement program.
(Added to NRS by 1969, 244; A 1977, 1597; 1993, 385)
NRS 286.816 Benefits payable only by designated investment entities. A retirement, death or other benefit must not
be paid by the State of Nevada or the Board of Regents of the University of
Nevada under the retirement program. Benefits are payable to participating
employees or their beneficiaries only by the designated investment entities in
accordance with the terms of the contracts.
(Added to NRS by 1969, 244; A 1977, 1598; 1993, 482; 1995, 526)
UNLAWFUL ACTS; PENALTIES
NRS 286.820 False statement or certification; withholding of information. Any person who knowingly makes a false
statement, certifies to an incorrect document or withholds information for the
purpose of receiving or assisting another person in receiving benefits under
this chapter to which the person or other person is not entitled is guilty of a
gross misdemeanor.
(Added to NRS by 1975, 1062)
