(REPRINTED WITH ADOPTED AMENDMENTS)

 

Assembly Bill No. 431–Assemblyman Oceguera

 

March 19, 2001

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Referred to Committee on Government Affairs

 

SUMMARY—Requires public employees’ retirement board to conduct study regarding lump-sum optional retirement programs. (BDR 23‑985)

 

FISCAL NOTE:            Effect on Local Government: No.

                                    Effect on the State: No.

 

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EXPLANATION – Matter in bolded italics is new; matter between brackets [omitted material] is material to be omitted.

 

AN ACT relating to the public employees’ retirement system; requiring the public employees’ retirement board to conduct a study regarding lump-sum optional retirement programs; 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. 1.  The public employees’ retirement board shall conduct

1-2  a study regarding lump-sum optional retirement programs, including,

1-3  without limitation, deferred retirement option plans, to determine whether

1-4  one or more of such programs would be beneficial for members of the

1-5  public employees’ retirement system and participating public employers.

1-6    2.  The public employees’ retirement board shall submit a final report

1-7  of the study to the legislative commission on or before August 1, 2002. If

1-8  applicable, the final report must contain recommendations for legislation to

1-9  carry out one or more lump-sum optional retirement programs.

1-10    Sec. 2.  This act becomes effective on July 1, 2001.

 

1-11  H