LEGISLATORS’ RETIREMENT

Nev. Rev. Stat. 218C
in effect

Nev. Rev. Stat. § 218C.020 Definitions.

As used in this chapter, unless the context otherwise requires, the words and terms defined in NRS 218C.040 and 218C.080 have the meanings ascribed to them in those sections.

Nev. Rev. Stat. § 218C.080 “Retirement allowance” defined.

“Retirement allowance” means payment for life derived from contributions of Legislators and the State of Nevada.

Nev. Rev. Stat. § 218C.100 Establishment of System.

A system of retirement for all benefits at retirement or death for Legislators is hereby established and shall be known as the Legislators’ Retirement System.

Nev. Rev. Stat. § 218C.110 Effect of termination or partial termination of System.

Upon the termination or partial termination of the Legislators’ Retirement System: 1. Except as otherwise provided in subsection 2, all accrued benefits that are funded must become 100 percent vested and nonforfeitable. 2. A Legislator who receives his or her vested accrued benefits in a complete cash distribution before the termination is not entitled to the vesting of any benefits which have been forfeited.

Nev. Rev. Stat. § 218C.150 System administered by Public Employees’ Retirement Board; rules.

The Legislators’ Retirement System shall be administered by the Board, which may make all necessary rules for the administration of the System.

Nev. Rev. Stat. § 218C.160 Legislators’ Retirement Administrative Fund: Creation and purpose; assessment of administrative fee.

1. The Board shall establish a fund known as the Legislators’ Retirement Administrative Fund in which must be deposited all administrative fees. 2. The Board shall fix an administrative fee per capita sufficient to pay the expense of operating the Legislators’ Retirement System.

Nev. Rev. Stat. § 218C.170 Legislators’ Retirement Fund: Creation and purpose; sources; payments.

1. The Board shall establish a fund known as the Legislators’ Retirement Fund. 2. All money paid as individual and employer contributions, all money appropriated by the Legislature to the Fund and all income accruing to the Fund from all other sources must be deposited in the Legislators’ Retirement Fund. 3. The interest and income earned on the money in the Legislators’ Retirement Fund, after deducting applicable charges, must be credited to the Fund. 4. The System shall pay all retirement allowances, benefits, optional settlements, refunds and other obligations or payments payable by the Legislators’ Retirement System pursuant to this chapter from the Legislators’ Retirement Fund.

Nev. Rev. Stat. § 218C.180 Legislators’ Retirement Fund: Administration and investment.

The Board has the exclusive control of the administration and investment of the Legislators’ Retirement Fund, with the same powers and duties and subject to the same limitations and restrictions that are applicable to the administration and investment of the Public Employees’ Retirement Fund.

Nev. Rev. Stat. § 218C.190 Legislators’ Retirement Fund: Report of income and disbursements.

1. At the commencement of each regular session, the Board shall submit a report of income and disbursements from the Legislators’ Retirement Fund for the preceding biennium to the Director, who shall deliver a copy of the report to each Legislator. 2. The report must estimate the amount of an appropriation, if any, required for the payment of benefits in the succeeding biennium.

Nev. Rev. Stat. § 218C.200 Administration of accounts of members and recipients of benefits.

Except as specifically provided in this chapter, the accounts of members and recipients of benefits of the Legislators’ Retirement System must be administered in accordance with the provisions of chapter 286 of NRS as if the Legislator were or had been a member of the Public Employees’ Retirement System.

Nev. Rev. Stat. § 218C.300 Transfer of service from Public Employees’ Retirement System; retransfer; double coverage.

1. Within a reasonable time after July 1, 1967, the Board shall notify all incumbent Legislators in writing concerning credit for service, other than legislative service, covered under the Public Employees’ Retirement System. Unless the Legislator requests in writing within 30 days after receipt of such written notice that his or her service, other than legislative service, be continued under the Public Employees’ Retirement System, the Board shall transfer from the Public Employees’ Retirement Fund all sums contributed by the Legislator through service, other than legislative service, together with the sums contributed by his or her employer for such service. The service so transferred shall be accredited under the Legislators’ Retirement System as if performed in a legislative capacity. Service so transferred may be retransferred to the Public Employees’ Retirement System, and the related contributions shall then be returned to the Public Employees’ Retirement Fund, at any time when the person ceases to be a Legislator and re-establishes membership in the Public Employees’ Retirement System. 2. Except as otherwise provided in NRS 286.385 or for the transfer of service from the Public Employees’ Retirement System to the Legislators’ Retirement System, as provided in this section, service after July 1, 1967, as a Legislator cannot be accredited under the Public Employees’ Retirement System and service in capacities covered by the Public Employees’ Retirement System cannot be accredited under the Legislators’ Retirement System. 3. Nothing in this chapter or in any other law prevents or prohibits coverage of a person under both the Public Employees’ Retirement System and the Legislators’ Retirement System when service is compatible with the provisions of each system. 4. Legislators receiving retirement allowances from the Public Employees’ Retirement System on July 1, 1967, are not eligible for transfer to the Legislators’ Retirement System.

Nev. Rev. Stat. § 218C.310 Continuation of service under Public Employees’ Retirement System; calculation of benefits.

1. A member of the Public Employees’ Retirement System with service as a Legislator before January 1, 1967, may continue such service under the Public Employees’ Retirement System with benefits to be calculated in the manner prescribed in subsection 2 or 3. 2. Except as otherwise required as a result of NRS 218C.340 , benefits must be calculated in the manner prescribed by NRS 286.475 unless the member elects to have the member’s benefits calculated pursuant to the provisions of subsection 3. 3. Except as otherwise required as a result of NRS 218C.340 , a member may elect to have the member’s service as a Legislator credited for retirement under chapter 286 of NRS as full-time service for the purpose of calculation of benefits at an annual gross compensation of $10,500. The member shall, at the time of election, pay to the Public Employees’ Retirement Fund and the Public Employees’ Retirement Administrative Fund the difference between the sums paid for the member’s legislative service and the sums which would have been paid by the member and the public employer on the member’s behalf had the member been in full-time service at an annual gross compensation of $10,500, but the member is entitled to the same privileges of payment under the same conditions applicable to the repayment of previously withdrawn contributions by other members of the Public Employees’ Retirement System. 4. Service as a Legislator, when accredited under the Public Employees’ Retirement System, will not be accreditable under the Legislators’ Retirement System.

Nev. Rev. Stat. § 218C.320 Membership in System mandatory; exceptions; contributions; designation and change of beneficiary.

1. Except as otherwise provided in NRS 218C.330 or 286.385 or required as a result of NRS 218C.340 , each Legislator must be a member of the Legislators’ Retirement System and shall make contributions to the Legislators’ Retirement Fund in the amounts and manner provided in this chapter. 2. Within 5 days after the commencement of each regular or special session, each Legislator who is a member of the Legislators’ Retirement System and who has not previously filed a beneficiary designation form with the Board shall file with the Board, upon a form provided by the Board, the designation of a beneficiary who is entitled to receive the contributions of the Legislator in case of death before retirement or termination of services as a Legislator and subsequent withdrawal of contributions. If no beneficiary is designated, payment must be made to the estate of the deceased Legislator. Payment may be made directly to the designated beneficiary without probate or administration of the estate of the deceased Legislator. 3. A beneficiary may be changed at any time by written notice given by a Legislator to the Board on a form prescribed by the Board.

Nev. Rev. Stat. § 218C.330 Election not to participate as member of System; effect of termination of participation.

1. A Legislator may, within 30 days after the Legislator is first elected or appointed to office, elect not to participate as a member of the Legislators’ Retirement System by submitting a written notice of the election not to participate to the Board and the Director. 2. A Legislator may terminate the Legislator’s participation as a member of the System by sending written notice of the termination of participation to the Board and the Director. 3. A Legislator who terminates his or her participation as a member of the Legislators’ Retirement System is not eligible thereafter to participate as a member of the System.

Nev. Rev. Stat. § 218C.340 Limitations on contributions and benefits under federal law.

1. The election provided by section 415(b)(10)(C) of the Internal Revenue Code (26 U.S.C. § 415(b)(10)(C)) is hereby made. 2. Notwithstanding any other provision of law, the benefits payable to and the contributions made by or for the benefit of a Legislator are limited pursuant to the provisions of sections 415(b) and 415(e) of the Internal Revenue Code (26 U.S.C. §§ 415(b) and 415(e)). The provisions of section 415(b)(2)(F) of the Internal Revenue Code (26 U.S.C. § 415(b)(2)(F)) do not apply to the benefits of such a Legislator. 3. Notwithstanding any other provision of law, if a Legislator whose effective date of membership is on or after January 1, 1990, is a member of the Public Employees’ Retirement System and is a member of the Legislators’ Retirement System, the benefits payable to the Legislator from both plans are limited pursuant to this section. The Legislator’s benefits from the plan providing the greater benefit must be reduced if the benefits from both plans exceed the limitations of this section.

Nev. Rev. Stat. § 218C.350 Computation of service credit.

1. Except as otherwise provided in subsection 2, for a Legislator who is a member of the Legislators’ Retirement System: (a) Service credit for retirement under the Legislators’ Retirement System begins on the first day of the year of election to the office of Legislator and terminates on the first day of the year following the election of a successor. The service credit for a person appointed to an unexpired term shall be deemed to have begun on the first day of the year of the appointment. (b) Service credit shall be deemed to terminate on the first day of the year following the expiration of any term during which a Legislator dies, resigns or is removed from office. 2. Service credit for a Legislator who takes office on or after July 1, 1975, and who is a member of the Legislators’ Retirement System begins on the day after the Legislator’s election or appointment and terminates on the day of election of the Legislator’s successor, unless sooner terminated on the day of the Legislator’s death, resignation or removal from office.

Nev. Rev. Stat. § 218C.360 Computation of service credit for legislative service before July 1, 1967; contributions.

1. A Legislator who rendered service as a Legislator prior to July 1, 1967, may receive credit for such service, if otherwise eligible, through transfer of payments for such service from the Public Employees’ Retirement System or by payment to the Legislators’ Retirement Fund of the amounts which would have been paid had the Legislators’ Retirement System been in operation at the time of such service. 2. The Director shall make a similar payment from the Legislative Fund as the employer’s share.

Nev. Rev. Stat. § 218C.370 Purchase of service credit: General requirements.

Except as otherwise required as a result of NRS 218C.340: 1. Any member of the Legislators’ Retirement System may purchase all previous creditable service performed in the Legislature if the service was performed before the creation of the System. The Director must certify the inclusive dates of service of the Legislator to validate the service. The Legislator must pay the Board’s actuary for a computation of costs and pay the full cost as determined by the actuary. 2. Any Legislator who is a member of the Legislators’ Retirement System may purchase credit for any period of service for which contributions were not paid while the Legislator was receiving temporary total disability benefits for an industrial injury, if the injury was sustained in performance of the Legislator’s legislative duties for which contributions were required. The Legislator must pay the Board’s actuary for any necessary computation and must also pay the full actuarial costs determined by the actuary. 3. Any Legislator who has 5 years of contributing creditable service may purchase up to 5 years of out-of-state service performed with any federal, state, county or municipal public agency if that service is no longer creditable in another public retirement system. To validate such service, the Legislator must obtain a certification of the inclusive dates of previous service performed with the other public agency, together with certification from that agency that the Legislator’s credit is no longer creditable in another public retirement system. Upon application to retire, the Board shall determine whether the purchased service has been re-established in any other public retirement system. The Legislator must pay the Board’s actuary for the computation and pay the full actuarial cost as determined by the actuary. For the purposes of this subsection, the Federal Old-Age and Survivor’s Insurance System is not a “public retirement system.” 4. Any Legislator who has at least 5 years of contributing creditable service may purchase not more than 5 years of military service regardless of when served if the service is no longer credited in the military retirement system. To validate military service, the Legislator must provide certification of the inclusive dates of active military service performed, pay the Board’s actuary for the computation and pay the full actuarial cost as determined by the actuary. 5. Any contributing Legislator may purchase previous service performed for any public employer which is not already credited in the Legislators’ Retirement System, including service as an elected officer or a person appointed to an elective office for an unexpired term. The former public employer must certify the inclusive dates of employment and number of hours regularly worked by the Legislator to validate such service. The Legislator must pay the Board’s actuary for a computation of cost and pay the full cost as determined by the actuary.

Nev. Rev. Stat. § 218C.380 Purchase of service credit: Deferred payment; contributions; administrative fees.

1. Except as otherwise required as a result of NRS 218C.340 , a Legislator who provides proper documentation and establishes the right to purchase any of the service listed in NRS 218C.370 may defer payment until actual retirement. Under this subsection, the purchase of service must be based on the full actuarial cost based upon the age of the member at the time of purchase. Service purchased under this subsection may not be credited until retirement. This service can be used for service retirement eligibility. 2. The Legislative Commission may pay any portion of the cost to validate service under NRS 218C.370 , but is not required to do so. No credit may be validated unless both the employer and the employee contributions have been paid. 3. The Legislator or Legislative Commission, or both, purchasing credit under NRS 218C.370 shall pay the full current administrative fees for each month of service purchased.

Nev. Rev. Stat. § 218C.390 Deduction and payment of contributions.

Except as otherwise provided in NRS 286.385, the Director shall: 1. Deduct from the compensation of each Legislator who is a member of the Legislators’ Retirement System an amount equal to 15 percent of the gross compensation earned as a Legislator and transmit that amount to the Board together with the necessary forms prescribed by the Board at intervals designated by the Board; and 2. Pay to the Board from the Legislative Fund an amount as the contribution of the State of Nevada as employer which is actuarially determined to be sufficient to provide the System with enough money to pay all benefits for which the System will be liable.

Nev. Rev. Stat. § 218C.450 Minimum requirement for retirement; effect of lapse in service; reduction in benefits for early retirement.

1. The minimum requirement for retirement is: (a) For a Legislator who has an effective date of membership before July 1, 2015, 10 years of accredited service; and (b) For a Legislator who has an effective date of membership on or after July 1, 2015, 10 years of service. For the purposes of this paragraph, any year or part of a year of service purchased by a Legislator pursuant to NRS 218C.370 must not be considered in determining the number of years of service of the Legislator unless the Legislator has a family medical emergency. For the purposes of this paragraph, the Board shall define by regulation “family medical emergency” and set forth by regulation the circumstances in which purchased service credit may be considered in determining the number of years of service of a Legislator who has a family medical emergency. Ê A lapse in service as a Legislator does not operate to forfeit any retirement rights accrued before the lapse. 2. A Legislator who meets the requirements of subsection 1 may retire: (a) At the age of 60 years or older with a full allowance. (b) At any age less than 60 years with an allowance or benefit actuarially reduced to the age of 60 years. Except as otherwise required as a result of NRS 218C.340 , an allowance or benefit under this paragraph must be reduced by 6 percent of the unmodified amount for each full year that the member is under the age of 60 years, and an additional 0.5 percent for each additional month that the member is under the age of 60 years. Any option selected must be reduced by an amount proportionate to the reduction provided in this subsection for the unmodified allowance or benefit. The Board may adjust the actuarial reduction based upon an experience study of the System and recommendation by the actuary.

Nev. Rev. Stat. § 218C.500 Determination of monthly benefits.

Except as otherwise required as a result of NRS 218C.340, a Legislator entering into retirement on or after July 1, 1975, is entitled to receive a monthly retirement allowance of $25 for each year of service up to 30 years, prorated for fractions of a year.

Nev. Rev. Stat. § 218C.510 Additional benefits; cost-of-living increases.

1. Each person who receives a benefit from the Legislators’ Retirement Fund is entitled to an additional benefit of 1.5 percent of the recipient’s base benefit for each full year during which the recipient has received benefits before July 1, 1975. This additional benefit shall be paid on and after July 1, 1975. 2. Beginning on July 1, 1975, each such recipient is entitled to receive cost-of-living increases, applied to the recipient’s benefit augmented pursuant to subsection 1, equivalent to those provided for retirees and beneficiaries of the Public Employees’ Retirement System.

Nev. Rev. Stat. § 218C.520 Limitation on distributions to members of System.

Notwithstanding any other provision of law, every distribution to a member of the Legislators’ Retirement System must be made pursuant to the provisions of section 401(a)(9) of the Internal Revenue Code, 26 U.S.C. § 401(a)(9), that apply to governmental plans.

Nev. Rev. Stat. § 218C.530 Limitation on compensation used to determine benefits.

Notwithstanding any other provision of law, the amount of compensation used to determine the retirement benefit of a member of the Legislators’ Retirement System must not exceed: 1. If the member has an effective date of membership before July 1, 2015, the limitation provided by section 401(a)(17) of the Internal Revenue Code, 26 U.S.C. § 401(a)(17). 2. If the member has an effective date of membership on or after July 1, 2015, the lesser of: (a) The limitation provided by section 401(a)(17) of the Internal Revenue Code, 26 U.S.C. § 401(a)(17); or (b) Two hundred thousand dollars. The limitation set forth in this paragraph must be adjusted by the Board every year by an amount equal to the average percentage increase in the Consumer Price Index (All Items) for the immediately preceding 3-year period.

Nev. Rev. Stat. § 218C.540 Computation of benefits payable to Legislator who became member of System before January 1, 1990.

The benefits payable to a Legislator whose effective date of membership is before January 1, 1990, must not be less than the Legislator’s accrued benefits determined without regard to any amendment of the Legislators’ Retirement System made after October 14, 1987.

Nev. Rev. Stat. § 218C.550 Actuarial assumptions used in computation of benefits.

1. The Board shall not change the actuarial assumptions used in computing the benefits provided to a Legislator who is a member of the Legislators’ Retirement System. 2. The Board shall make available to every Legislator upon request the actuarial assumptions used in computing the benefits provided to a member.

Nev. Rev. Stat. § 218C.560 Prohibition against applying forfeitures to increase benefits.

Forfeitures must not be applied to increase the benefits any member would otherwise receive pursuant to the provisions governing the Legislators’ Retirement System as provided by section 401(a)(8) of the Internal Revenue Code, 26 U.S.C. § 401(a)(8).

Nev. Rev. Stat. § 218C.570 Options for payment of benefits to designated beneficiary after member’s death.

1. At the time of retirement, a Legislator who is a member of the Legislators’ Retirement System may, at his or her election, choose to receive a reduced service retirement allowance of equivalent actuarial value payable during the member’s life with the provision that it continue after his or her death: (a) For the life of the beneficiary whom the member nominates by written designation that is acknowledged and filed with the Board at the time of retirement; or (b) At one-half the rate paid to the member and must be paid at such rate for the life of the beneficiary whom the member nominates by written designation that is acknowledged and filed with the Board at the time of retirement. 2. If the designated beneficiary predeceases the Legislator, the Legislator may receive the full allowance due him or her at the time of retirement less the actuarial equivalent of the protection received from the time of retirement to the death of the beneficiary. The adjusted allowance is effective on the first day of the month succeeding the death of the beneficiary.

Nev. Rev. Stat. § 218C.580 Benefits for survivors.

1. The provisions of NRS 286.671 to 286.679 , inclusive, except NRS 286.6775 , relating to benefits for survivors pursuant to the Public Employees’ Retirement System, are applicable to the dependents of a Legislator who is a member of the Legislators’ Retirement System, and the benefits for the survivors must be paid by the Board following the death of the Legislator to the persons entitled thereto from the Legislators’ Retirement Fund. 2. It is declared that of the contributions required by subsections 1 and 2 of NRS 218C.390 , one-half of 1 percent must be regarded as costs incurred in benefits for survivors.

Nev. Rev. Stat. § 218C.582 Benefits for spouse of member killed in course of legislative service.

1. The spouse of a Legislator who is a member of the Legislators’ Retirement System killed in the course of legislative service on or after July 1, 2013, is entitled to receive a monthly allowance equivalent to the greater of: (a) Fifty percent of the salary of the member on the date of the member’s death; or (b) One hundred percent of the retirement allowance that the member was eligible to receive based on the member’s years of service obtained before the member’s death without any reduction for age for the deceased member. 2. The benefits provided by this section must be paid to the spouse for the remainder of the spouse’s life. 3. The spouse may elect to receive the benefits by any one of the following only: (a) This section; or (b) NRS 218C.580 . 4. For the purposes of this section, the Board shall define by regulation “killed in the course of legislative service.” 5. As used in this section: (a) “Domestic partner” means a person who is in a domestic partnership which is registered or recognized pursuant to chapter 122A of NRS and which has not been terminated pursuant to that chapter. (b) “Spouse” means the surviving husband, wife or domestic partner of a Legislator killed in the course of legislative service.

Nev. Rev. Stat. § 218C.584 Benefits for survivors of member killed in course of legislative service.

1. If a Legislator who is a member of the Legislators’ Retirement System is killed in the course of legislative service on or after July 1, 2013, and does not have at the time of his or her death a spouse, as that term is defined in NRS 218C.582 , the survivor of the member is entitled to receive a monthly allowance equivalent to the greater of: (a) Fifty percent of the salary of the member on the date of the member’s death; or (b) One hundred percent of the retirement allowance that the member was eligible to receive based on the member’s years of service obtained before the member’s death without any reduction for age for the deceased member. 2. The benefits provided by this section must be paid to the survivor for the remainder of his or her life. 3. The survivor may elect to receive the benefits provided by any one of the following only: (a) This section; or (b) NRS 218C.580 . 4. For the purposes of this section, the Board shall define by regulation “killed in the course of legislative service.”

Nev. Rev. Stat. § 218C.590 Effect on benefits if member is elected or appointed to certain offices after retirement.

1. A person receiving a retirement allowance under this chapter who is elected or appointed to the Legislature may not receive a retirement allowance during the period in which the person serves as a Legislator. Upon reentry into retirement, the person may receive a retirement allowance based upon the person’s previous service and added service, if the person is a member of the Legislators’ Retirement System during the period of his or her added service. 2. If a retired Legislator is chosen by election or appointment to fill another elective office, the retired Legislator is entitled to the same allowances as a retired Legislator who has no employment.

Nev. Rev. Stat. § 218C.700 Forfeiture for commission of certain crimes; return of contributions to member; applicability.

1. Except as otherwise provided in subsections 2 and 3, a Legislator who is a member of the Legislators’ Retirement System who is convicted of or pleads guilty or nolo contendere to any felony involving: (a) Accepting or giving, or offering to give, any bribe; (b) Embezzlement of public money; (c) Extortion or theft of public money; (d) Perjury; or (e) Conspiracy to commit any crime set forth in paragraphs (a) to (d), inclusive, Ê and arising directly out of his or her duties in legislative service, forfeits all rights and benefits under the System. 2. Upon a conviction described in subsection 1, the Legislators’ Retirement System must return to the member, without interest, all contributions which the member has made and which were credited to the member’s individual account. 3. The provisions of subsections 1 and 2 apply only to Legislators who become members of the Legislators’ Retirement System on or after July 1, 2015.
Source: NV Statutes (Official Site)URL: https://www.leg.state.nv.us/nrs/NRS-218C.htmlFetched: 10/4/2026