Nev. Rev. Stat. § 286.010
Short title
This chapter shall be known as the Public Employees’ Retirement Act.
Nevada Revised Statutes Chapter 286 — Public Employees’ Retirement
Nevada · statute · Nev. Rev. Stat. ch. 286 · 165 active provisions
Nev. Rev. Stat. § 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 prom…
Nev. Rev. Stat. § 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.
Nev. Rev. Stat. § 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.
Nev. Rev. Stat. § 286.020
“Board” defined
“Board” means the Public Employees’ Retirement Board.
Nev. Rev. Stat. § 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 dat…
Nev. Rev. Stat. § 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.
Nev. Rev. Stat. § 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 cont…
Nev. Rev. Stat. § 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:…
Nev. Rev. Stat. § 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.
Nev. Rev. Stat. § 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 cont…
Nev. Rev. Stat. § 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…
Nev. Rev. Stat. § 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…
Nev. Rev. Stat. § 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 commissio…
Nev. Rev. Stat. § 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.
Nev. Rev. Stat. § 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.
Nev. Rev. Stat. § 286.100
“System” defined
“System” means the Public Employees’ Retirement System established by this chapter.
Nev. Rev. Stat. § 286.110
Public Employees’ Retirement System: Establishment; review of System; use of state services; public inspection of certain 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 fr…
Nev. Rev. Stat. § 286.117
Limitations on review and copying of certain records; waiver
Except as otherwise provided in NRS 286.118, all records and files 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 b…
Nev. Rev. Stat. § 286.118
Certain information deemed to be confidential; certain information deemed to be public records; limitations on disclosure of confidential information
1. Except as otherwise provided in this section, all information about a current or former member of a public retirement system administered by the Board, or a beneficiary of such a member, which is contained in a record or file in the possession, control or custody of the Board is confidential regardless of the form,…
Nev. Rev. Stat. § 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 Boar…
Nev. Rev. Stat. § 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 nomi…
Nev. Rev. Stat. § 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 m…
Nev. Rev. Stat. § 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 a General Counsel, Operations Officer, Chief Investment Officer, Deputy Investment Officer, Chief Financial Officer, Manager of Information Systems, Administrative Services Coordinator, Chief Admin…
Nev. Rev. Stat. § 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, Chief Investment Officer and 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 fi…
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