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).

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,]

1-17 employment remains eligible for retirement pursuant to subsection 2 if:

2-1 (a) He applies to the board for disability retirement and the board

2-2 approves his application;

2-3 (b) In lieu of a disability retirement allowance, he accepts another

2-4 position with the public employer with which he was employed when he

2-5 became disabled as soon as practicable but not later than 90 days after

2-6 the board approves his application for disability retirement;

2-7 (c) He remains continuously employed by that public employer until

2-8 he becomes eligible for retirement pursuant to subsection 2; and

2-9 (d) After he accepts a position pursuant to paragraph (b), his

2-10 contributions are paid at the rate that is actuarially determined for police

2-11 officers and firemen until he becomes eligible for retirement pursuant to

2-12 subsection 2.

2-13 4. If a police officer or fireman who accepted another position with

2-14 the public employer with which he was employed when he became

2-15 disabled pursuant to subsection 3 ceases to work for that public employer

2-16 before becoming eligible to retire pursuant to subsection 2, he may begin

2-17 to receive a disability retirement allowance without further approval by

2-18 the board by notifying the board on a form prescribed by the board.

2-19 5. Eligibility for retirement, as provided in this section, does not

2-20 require the member to have been a participant in the system at the

2-21 beginning of his credited service.

2-22 [4.] 6. Any member who has the years of creditable service necessary

2-23 to retire but has not attained the required age, if any, may retire at any age

2-24 with a benefit actuarially reduced to the required retirement age. Except as

2-25 otherwise required as a result of NRS 286.537, a retirement benefit under

2-26 this subsection must be reduced by 4 percent of the unmodified benefit for

2-27 each full year that the member is under the appropriate retirement age, and

2-28 an additional 0.33 percent for each additional month that the member is

2-29 under the appropriate retirement age. Any option selected under this

2-30 subsection must be reduced by an amount proportionate to the reduction

2-31 provided in this subsection for the unmodified benefit. The board may

2-32 adjust the actuarial reduction based upon an experience study of the system

2-33 and recommendation by the actuary.

2-34 Sec. 2. NRS 286.6765 is hereby amended to read as follows:

2-35 286.6765 1. Except as limited by subsection 2, the spouse of a

2-43 The benefits provided by this section must be paid to the spouse for the

3-1 remainder of the spouse’s life. The spouse may elect to receive the benefits

3-2 provided by any one of the following only:

3-3 (a) This section;

3-4 (b) NRS 286.674;

3-5 (c) NRS 286.676; or

3-6 (d) NRS 286.678.

3-7 2. The benefits provided by this section may only be paid to the

3-8 spouses of members who died on or after May 19, 1975.

3-9 Sec. 3. This act becomes effective on July 1, 1999.