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Nevada Revised Statutes

Chapter 286

Nev. Rev. Stat. ch. 286

Public Employees’ Retirement

286.010Short title 286.015Declaration of state policy; purpose of chapter 286.016Definitions 286.017“Actuarial computation” defined 286.020“Board” defined 286.025“Compensation” defined 286.031“Disability retirement allowance” defined 286.040“Employee” defined 286.042“Firefighter” defined 286.045“Independent contractor” defined 286.050“Member” defined 286.061“Police officer” defined 286.065“Postretirement increase” defined 286.070“Public employer” defined 286.078“Service” defined 286.080“Service retirement allowance” defined 286.100“System” defined 286.110Public Employees’ Retirement System: Establishment; review of System; use of state services; public inspection of certain records; liability of public employers 286.117Limitations on review and copying of certain records; waiver 286.118Certain information deemed to be confidential; certain information deemed to be public records; limitations on disclosure of confidential information 286.120System governed by Public Employees’ Retirement Board: Name; number of members; duties of Governor; removal of members 286.130Qualifications of members of Board; terms 286.150Monthly meetings of Board; certain closed meetings; designation and term of Chair 286.160Persons employed by Board: Appointment; salaries; qualifications; other employment of Executive Officer prohibited; exceptions 286.170Administration of System; compensation and removal of employees 286.180Compensation and expenses of members of Board 286.190General powers and duties of Board 286.200Rules and regulations of Board: Procedure for adoption; conditions 286.211Duties of Board: Police and Firefighters’ Retirement Fund 286.215Duties of Board: Calculation and determination of contributions, benefits and service credit related to qualified military service 286.220Public Employees’ Retirement Fund 286.225Police and Firefighters’ Retirement Fund 286.227Police and Firefighters’ Retirement Fund Advisory Committee 286.230Public Employees’ Retirement Administrative Fund 286.241Fund to pay accrued benefits that are not payable because of certain limitations; benefits paid from employer contributions 286.260Individual accounts of members; liability of Board upon return of contributions 286.265Notice to Public Employees’ Benefits Program regarding certain changes in payment status of benefit recipients 286.282Chief of Budget Division to advise Governor concerning review of System’s policies and performance 286.287Board to consider investments: Meetings; duties 286.288Liaison officer between System and members or employers; responsibility of System for inaccurate or misleading information 286.290Conditions for membership in System 286.293Persons required to participate in System 286.297Persons excluded from membership in System 286.300Purchase of credit for service: Requirements; sources; refund of contributions; defaults 286.3005Purchase of credit for service: Public employer may purchase credit for member 286.3007Purchase by state agency of credit for service: Conditions 286.301Credit for free prior service 286.303Free credit for military service 286.365Eligibility of civilian employees of Nevada National Guard for membership in System 286.367Eligibility of volunteer firefighters for membership in System: Contributions; average compensation; purchase of credit for service as volunteer firefighter and for certain military service 286.370Procedure for integration of previously established retirement systems 286.385Public employee on leave of absence to serve in Nevada Legislature may remain member of System 286.391Public employee on leave to work for employee or employer association may remain member of System; purchase of credit for service 286.401Termination of membership; rights of retired employee 286.410Amount of contribution by members of System; deduction from payroll; return of contributions; members with disabilities 286.421Payment of contributions by employer on behalf of employee; average compensation; total rate of contribution 286.425Election by employee to have employer pay contributions 286.430Withdrawal of contributions 286.435Repayment upon retroactive reinstatement 286.440Redeposit of withdrawn contributions upon return to service: Procedure 286.450Rate of contributions by public employer 286.460Remittance of contributions by public employers 286.462Notification required concerning delinquent payment; submission; payment 286.470Credit for service as county commissioner, city council member or mayor: Calculation of average compensation; waiver of service; exception 286.475Credit for service as Legislator before July 1, 1967: Calculation of average compensation 286.477Credit for part-time employment; loss of credit 286.479Service credit for military service in Persian Gulf Crisis 286.481Service ineligible for credit 286.486Service credited in another system ineligible; exception 286.495Computation of credit for service: Generally 286.501Computation of credit for service: Employees of school districts and professional staff of Nevada System of Higher Education 286.505Conversion of credit for service; time for crediting service 286.510Eligibility: Age and service of police officers, firefighters and other employees; reduction of benefit for retirement before required age 286.520Employment of retired employee: Consequences; notice; exemptions 286.523Employment 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 286.525Employment of retired employee: Enrollment in System; rights of membership; accrual of credit for service; benefits for survivor 286.533Limitation on distributions to members of System 286.534Actuarial assumptions used in computing benefits: Availability; changes prohibited 286.535Limitation on compensation used to determine retirement benefit 286.537Limitations on benefits and contributions 286.538Minimum benefits payable to employee who became member of System before January 1, 1990 286.539Prohibition against applying forfeitures to increase benefits 286.541Application 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 286.545Consent of spouse to retirement plan of member 286.551Determination of monthly service retirement allowance 286.555Refund of portion of contributions to certain persons who became members on or after January 1, 2010 286.571Postretirement increases: Calculation of increase for persons who became members on or after January 1, 2010, and before July 1, 2015 286.574Postretirement increases: Calculation of increase for persons who became members on or after July 1, 2015 286.575Postretirement increases: Payment; effect on monthly benefit 286.5756Postretirement increases: Persons receiving benefits before September 1, 1983, or for 3 years before increase 286.5765Postretirement 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 286.577Postretirement increases: Persons receiving allowance before July 1, 1975; persons with benefits commencing in 1975 286.5775Postretirement increases: Increases based on years allowance received; beneficiaries of deceased employees; limitations 286.578Postretirement increases: Increases payable July 1, 1979, and July 1, 1980 286.5785Postretirement increases: Increases payable July 1, 1981, and July 1, 1982 286.579Postretirement increases: Increase for persons receiving benefits before January 1, 1977 286.590Alternatives to unmodified service retirement allowance 286.592Optional plans: Death of beneficiary; change of selection; effective date of termination or adjustment of allowance 286.612Charges for deferred protection: Termination; adjustments of allowances or benefits 286.615Optional 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 286.620Disability retirement allowance: Eligibility; calculation of amount; beneficiaries; effective date of termination or adjustment of allowance 286.630Disability retirement allowance: Approval or denial of application; medical examination 286.634Disability retirement allowance: Effective date of retirement 286.637Disability retirement allowance: Recipient to provide copy of federal income tax return; Board may require medical examinations 286.638Disability retirement allowance: Reporting to Internal Revenue Service 286.640Disability retirement allowance: Cancellation 286.650Disability retirement allowance: Consequences of employment of recipient 286.655Payments for rehabilitation in lieu of disability retirement allowance 286.660Death of certain member before retirement: Disposition of money to member’s credit in Public Employees’ Retirement Fund 286.665Death of member, retired employee or beneficiary: Transfer of contributions to retirement fund under certain circumstances; procedure for claiming transferred money 286.667Allowance for retired police officer or firefighter: Benefits for spouse upon death; credit for certain other service prohibited; costs of benefit paid by employee 286.668Forfeiture of rights and benefits under System for conviction of certain felonies; return of contributions upon conviction 286.669Person convicted of murder or voluntary manslaughter of member ineligible to receive benefits 286.670Right to benefits not subject to taxes, process, bankruptcy, assignment or assessment for impairment or insolvency of insurance company; exceptions 286.6703Payment of allowance or benefit to alternate payee pursuant to domestic relations order 286.6705Transfer of unpaid check for benefits or refund to retirement fund; claim for payment of money; period of limitation 286.671Definitions 286.672Eligibility 286.673Payments to child of deceased member 286.674Payments to spouse of deceased member 286.676Payments to spouse of deceased member who had 10 or more years of accredited contributing service 286.6765Payments to spouse if deceased member was eligible to retire 286.6766Payment in lump sum to spouse; exception 286.67665Payments to spouse of member killed in line of duty or course of employment on or after July 1, 2013 286.6767Designation of survivor beneficiary and additional payees by member 286.67675Payments to survivor beneficiary of and to additional payees designated by deceased member 286.6768Payments to survivor beneficiary of and to additional payees designated by deceased member who had 10 or more years of accredited contributing service 286.67685Payment to survivor beneficiary of and to additional payees designated by deceased member if deceased member was eligible to retire 286.6769Payment in lump sum to survivor beneficiary of and to additional payees designated by member; exception 286.67695Payments to survivor beneficiary of member killed in line of duty or course of employment on or after July 1, 2013 286.677Payment to dependent parents; conditions 286.6775Limitation on and reduction of amount of monthly allowance 286.679Disposition of surplus of contributions if payments to beneficiary cease 286.6793Time of vesting; vesting of benefits upon termination of System 286.680Investment by Board of money in funds; qualifications and employment of investment counsel; employment of other services; liability for investment decisions 286.682Authorized investments: “Prudent person” standard 286.701Definitions 286.703“Active business operations” defined 286.705“Business operations” defined 286.707“Company” defined 286.709“Direct holdings” defined 286.711“Inactive business operations” defined 286.713“Iran” defined 286.715“Petroleum resources” defined 286.717“Scrutinized business operations” defined 286.719“Scrutinized company” defined 286.721Board to identify, review and create list of investments in scrutinized companies 286.723Board to prepare report of investments in scrutinized companies 286.725Inapplicability to certain investments 286.735Definitions 286.737“Boycott of Israel” defined 286.739“Company” defined 286.741“Direct holdings” defined 286.743“Public fund” defined 286.745“Scrutinized company” defined 286.747Board to identify, review and create list of investments in scrutinized companies 286.749Board to prepare report of investments in scrutinized companies 286.802Board of Regents to establish separate program for retirement of certain employees; contributions; enrollment 286.804Program may be separate system or fund; participation in larger system or fund; provision of benefits through investment entity or combination of entities 286.808Contributions; payment by Board of Regents on behalf of participant 286.810Designation of investment entities; approval of contracts 286.812Administration of program 286.814Participants ineligible for membership in Public Employees’ Retirement System 286.816Benefits payable only by designated investment entities 286.820False statement or certification; withholding of information