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)
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)
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 […]
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, […]
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)
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)
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 […]
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 […]
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 the member’s average compensation by 2.5 percent for each year […]
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 […]
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, and before July 1, 2015, allowances or benefits must be increased once each year on the first day of the month immediately following the anniversary of the date […]
1. For a person who retires and who has an effective date of membership on or after July 1, 2015, allowances or benefits must be increased once each year on the first day of the month immediately following the anniversary date the person began receiving the allowance or benefit: (a) By 2 percent following the […]
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 […]
1. Except as otherwise provided in NRS 286.571 and 286.574, 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 […]
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 […]
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 […]
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 […]
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 […]
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, […]
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— […]
