Assembly Bill No. 303–Committee on Judiciary

February 23, 1999

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Referred to Committee on Government Affairs

 

SUMMARY—Provides for counting of certain service performed by certain injured employees towards eligibility for retirement as police officer or fireman. (BDR 23-1235)

FISCAL NOTE: Effect on Local Government: Yes.

Effect on the State or on Industrial Insurance: Yes.

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EXPLANATION – Matter in bolded italics is new; matter between brackets [omitted material] is material to be omitted. Green numbers along left margin indicate location on the printed bill (e.g., 5-15 indicates page 5, line 15).

 

AN ACT relating to the public employees’ retirement system; providing for the counting of certain service performed by certain injured police officers and firemen towards eligibility for retirement as a police officer or fireman; and providing other matters properly relating thereto.

 

THE PEOPLE OF THE STATE OF NEVADA, REPRESENTED IN SENATE AND ASSEMBLY, DO ENACT AS FOLLOWS:

1-1 Section 1. NRS 286.510 is hereby amended to read as follows:

1-2 286.510 1. Except as otherwise provided in [subsection 2,]

1-3 subsections 2 and 3, a member of the system is eligible to retire at age 65

1-4 if he has at least 5 years of service, at age 60 if he has at least 10 years of

1-5 service, and at any age if he has at least 30 years of service.

1-6 2. A police officer or fireman is eligible to retire at age 65 if he has at

1-7 least 5 years of service, at age 55 if he has at least 10 years of service, at

1-8 age 50 if he has at least 20 years of service, and at any age if he has at least

1-9 30 years of service. Only service performed in a position as a police officer

1-10 or fireman, established as such by statute or regulation, service performed

1-11 pursuant to subsection 3 and credit for military service, may be counted

1-12 toward eligibility for retirement pursuant to this subsection.

1-13 3. A police officer or fireman who has at least 5 years of service as a

1-14 police officer or fireman and is otherwise eligible to apply for disability

1-15 retirement pursuant to NRS 286.620 because of an injury arising out of

2-1 and in the course of his employment remains eligible for retirement

2-2 pursuant to subsection 2 if:

2-3 (a) He accepts another position with a participating public employer

2-4 as soon as practicable after becoming disabled;

2-5 (b) He remains continuously employed by a participating public

2-6 employer until he becomes eligible for retirement pursuant to subsection

2-7 2; and

2-8 (c) After he accepts a position pursuant to paragraph (a), his

2-9 contributions are paid at the rate that is actuarially determined for police

2-10 officers and firemen until he becomes eligible for retirement pursuant to

2-11 subsection 2.

2-12 4. Eligibility for retirement, as provided in this section, does not

2-13 require the member to have been a participant in the system at the

2-14 beginning of his credited service.

2-15 [4.] 5. Any member who has the years of creditable service necessary

2-16 to retire but has not attained the required age, if any, may retire at any age

2-17 with a benefit actuarially reduced to the required retirement age. Except as

2-18 otherwise required as a result of NRS 286.537, a retirement benefit under

2-19 this subsection must be reduced by 4 percent of the unmodified benefit for

2-20 each full year that the member is under the appropriate retirement age, and

2-21 an additional 0.33 percent for each additional month that the member is

2-22 under the appropriate retirement age. Any option selected under this

2-23 subsection must be reduced by an amount proportionate to the reduction

2-24 provided in this subsection for the unmodified benefit. The board may

2-25 adjust the actuarial reduction based upon an experience study of the system

2-26 and recommendation by the actuary.

2-27 Sec. 2. NRS 286.6765 is hereby amended to read as follows:

2-28 286.6765 1. Except as limited by subsection 2, the spouse of a

2-29 deceased member who was fully eligible to retire, both as to service and

2-30 age, is entitled to receive a monthly allowance equivalent to that provided

2-31 by option 2 in NRS 286.590. This section does not apply to the spouse of a

2-32 member who was eligible to retire only under subsection [4] 5 of NRS

2-33 286.510. For the purposes of applying the provisions of option 2, the

2-34 deceased member shall be deemed to have retired on the date of his death

2-35 immediately after having named the spouse as beneficiary under option 2.

2-36 The benefits provided by this section must be paid to the spouse for the

2-37 remainder of the spouse’s life. The spouse may elect to receive the benefits

2-38 provided by any one of the following only:

2-39 (a) This section;

2-40 (b) NRS 286.674;

2-41 (c) NRS 286.676; or

2-42 (d) NRS 286.678.

3-1 2. The benefits provided by this section may only be paid to the

3-2 spouses of members who died on or after May 19, 1975.

3-3 Sec. 3. This act becomes effective on July 1, 1999.

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