Senate Bill No. 127–Senator Shaffer

February 5, 1999

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Referred to Committee on Finance

 

SUMMARY—Revises provisions governing eligibility for retirement for certain members of public employees’ retirement system. (BDR 23-1154)

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; authorizing certain public employees to retire at any age if the sum of the age and years of service of the employee is equal to or greater than 75 years; 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, a member

1-3 of the system is eligible to retire [at] :

1-4 (a) At age 65 if he has at least 5 years of service [, at] ;

1-5 (b) At age 60 if he has at least 10 years of service [, and at] ; and

1-6 (c) At any age if [he] :

1-7 (1) He has at least 30 years of service [.] ; or

1-8 (2) He has at least 5 years of service and the sum of his age and

1-9 years of service is equal to or greater than 75 years.

1-10 2. A police officer or fireman is eligible to retire at age 65 if he has at

1-11 least 5 years of service, at age 55 if he has at least 10 years of service, at

1-12 age 50 if he has at least 20 years of service, and at any age if he has at least

1-13 30 years of service. Only service performed in a position as a police officer

1-14 or fireman, established as such by statute or regulation, and credit for

1-15 military service, may be counted toward eligibility for retirement pursuant

1-16 to this subsection.

2-1 3. Eligibility for retirement, as provided in this section, does not

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

2-3 beginning of his credited service.

2-4 4. Any member who has the years of creditable service necessary to

2-5 retire but has not attained the required age, if any, may retire at any age

2-6 with a benefit actuarially reduced to the required retirement age. Except as

2-7 otherwise required as a result of NRS 286.537, a retirement benefit under

2-8 this subsection must be reduced by 4 percent of the unmodified benefit for

2-9 each full year that the member is under the appropriate retirement age, and

2-10 an additional 0.33 percent for each additional month that the member is

2-11 under the appropriate retirement age. Any option selected under this

2-12 subsection must be reduced by an amount proportionate to the reduction

2-13 provided in this subsection for the unmodified benefit. The board may

2-14 adjust the actuarial reduction based upon an experience study of the system

2-15 and recommendation by the actuary.

2-16 Sec. 2. NRS 286.6793 is hereby amended to read as follows:

2-17 286.6793 1. Retirement allowances for members who are active on

2-18 or after July 1, 1989, become vested on the date that the employee

2-19 completes 5 years of accredited contributing service.

2-20 2. Benefits for survivors offered pursuant to this chapter become

2-21 vested on the date that the employee completes 10 years of accredited

2-22 contributing service or becomes entitled to begin receiving benefits or on

2-23 the date of his death, whichever event occurs first.

2-24 3. Unless otherwise specifically provided by the amendatory act, any

2-25 change in the provisions of this chapter is retroactive for all service of any

2-26 member before the date of vesting, but no change may impair any vested

2-27 allowance or benefit.

2-28 4. Any person employed by the state or its political subdivisions who

2-29 [is] :

2-30 (a) Is a participating member of the system on or after July 1, 1989 [,

2-31 who has] ;

2-32 (b) Has been employed for a period of 5 or more years [, who leaves] ;

2-33 (c) Leaves the employ of the state or its political subdivisions before the

2-34 attainment of the minimum service retirement age [and who has] applicable

2-35 to his years of service credit; and

2-36 (d) Has not received a refund of his employee contributions,

2-37 upon reaching the minimum service retirement age applicable to his years

2-38 of service credit, may receive the same benefits to which he would

2-39 otherwise have been entitled had he continued membership in the system.

2-40 5. Upon the termination or partial termination of the system:

2-41 (a) Except as otherwise provided in paragraph (b), all accrued benefits

2-42 that are funded become 100 percent vested and nonforfeitable.

3-1 (b) A member who receives his vested accrued benefits in a complete

3-2 cash distribution before the termination is not entitled to the vesting of any

3-3 benefits which have been forfeited.

3-4 Sec. 3. NRS 289.290 is hereby amended to read as follows:

3-5 289.290 1. A person designated by the administrator of the division

3-6 of agriculture of the department of business and industry as a field agent or

3-7 an inspector pursuant to subsection 2 of NRS 561.225 has the powers of

3-8 peace officers to make investigations and arrests and to execute warrants of

3-9 search and seizure, and may temporarily stop the movement of livestock

3-10 and carcasses for purposes of inspection.

3-11 2. An inspector of the state board of sheep commissioners and his

3-12 deputies have the powers of a peace officer.

3-13 3. An officer appointed by the Nevada junior livestock show board

3-14 pursuant to NRS 563.120 has the powers of a peace officer for the

3-15 preservation of order and peace on the grounds and in the buildings and the

3-16 approaches thereto of the livestock shows and exhibitions that the board

3-17 conducts.

3-18 4. In carrying out the provisions of chapter 565 of NRS, an inspector of

3-19 the division of agriculture has the powers of a peace officer to make

3-20 investigations and arrests and to execute warrants of search and seizure.

3-21 This subsection does not authorize any inspector to retire under the public

3-22 employees’ retirement system before having attained the minimum service

3-23 retirement age [of 60 years.] applicable to his years of service credit, as

3-24 set forth in subsection 1 of NRS 286.510.

3-25 Sec. 4. NRS 561.225 is hereby amended to read as follows:

3-26 561.225 1. The administrator shall appoint such technical, clerical

3-27 and operational staff as the execution of his duties and the operation of the

3-28 division may require.

3-29 2. The administrator may designate such division personnel as are

3-30 required to be field agents and inspectors in the enforcement of the

3-31 provisions of Titles 49 and 50 of NRS. Nothing in this subsection

3-32 authorizes any division personnel so designated by the administrator to

3-33 retire from the public employees’ retirement system before having attained

3-34 the minimum service retirement age [of 60 years.] applicable to his years

3-35 of service credit, as set forth in subsection 1 of NRS 286.510.

3-36 Sec. 5. The provisions of subsection 1 of NRS 354.599 do not apply to

3-37 any additional expenses of a local government that are related to the

3-38 provisions of this act.

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