NRS 286.190
General powers and duties of Board.


The Board:

1.

Has the powers and privileges of a body corporate and, subject to the limitations of this chapter, is responsible for managing the System.

2.

Shall:

(a)

Arrange for a biennial actuarial valuation and report of the actuarial soundness of the System to be prepared by an independent actuary based upon data compiled and supplied by employees of the System, and shall adopt actuarial tables and formulas prepared and recommended by the actuary.

(b)

Provide for a biennial audit of the System, including the Administrative Fund, by an independent certified public accountant. The independent certified public accountant performing the audit of the System must be selected by a process for open bidding or requests for proposals that is conducted not less than once every 4 years. The Board shall not consider any bid or proposal submitted by a person who was selected to provide the audit of the System in the immediately preceding cycle of selection.

(c)

Provide an annual report to the Governor, each member of the Legislature, each participating public employer, and each participating employee and employer association, and make the report available to all members upon request. The report must contain, when available, a review of the actuarial valuation required by paragraph (a).

(d)

Post on its website any document that a public employer is required to submit to the System on or after January 1, 2010, relating to the contribution mechanism used by the public employer pursuant to NRS 286.410, 286.421 or 286.450.

3.

May:

(a)

Adjust the service or correct the records, allowance or benefits of any member, retired employee or beneficiary after an error or inequity has been determined, and require repayment of any money determined to have been paid by the System in error, if the money was paid within 6 years before demand for its repayment.

(b)

Examine and copy personnel and financial records of public employers.

(c)

Receive requests for membership from state, county or municipal entities which are not presently public employers, and determine whether or not any such entity and its employees qualify for membership as provided by this chapter.

(d)

Require an annual notarized statement from a retired employee or beneficiary that the retired employee or beneficiary is in fact receiving an allowance or benefits, and withhold the allowance or benefits if the retired employee or beneficiary fails to provide the statement.

4.

As used in this section, “error or inequity” means the existence of extenuating circumstances, including, but not limited to, a member’s reasonable and detrimental reliance on representations made by the System or by the public employer pursuant to NRS 286.288 which prove to be erroneous, or the mental incapacity of the member.

Source: Section 286.190 — General powers and duties of Board., https://www.­leg.­state.­nv.­us/NRS/NRS-286.­html#NRS286Sec190.

286.010
Short title.
286.015
Declaration of state policy
286.016
Definitions.
286.017
“Actuarial computation” defined.
286.020
“Board” defined.
286.025
“Compensation” defined.
286.031
“Disability retirement allowance” defined.
286.040
“Employee” defined.
286.042
“Firefighter” defined.
286.045
“Independent contractor” defined.
286.050
“Member” defined.
286.061
“Police officer” defined.
286.065
“Postretirement increase” defined.
286.070
“Public employer” defined.
286.078
“Service” defined.
286.080
“Service retirement allowance” defined.
286.100
“System” defined.
286.110
Public Employees’ Retirement System: Establishment
286.117
Limitations on review and copying of certain records
286.118
Certain information deemed to be confidential
286.120
System governed by Public Employees’ Retirement Board: Name
286.130
Qualifications of members of Board
286.150
Monthly meetings of Board
286.160
Persons employed by Board: Appointment
286.170
Administration of System
286.180
Compensation and expenses of members of Board.
286.190
General powers and duties of Board.
286.200
Rules and regulations of Board: Procedure for adoption
286.211
Duties of Board: Police and Firefighters’ Retirement Fund.
286.215
Duties of Board: Calculation and determination of contributions, benefits and service credit related to qualified military service.
286.220
Public Employees’ Retirement Fund.
286.225
Police and Firefighters’ Retirement Fund.
286.227
Police and Firefighters’ Retirement Fund Advisory Committee.
286.230
Public Employees’ Retirement Administrative Fund.
286.241
Fund to pay accrued benefits that are not payable because of certain limitations
286.260
Individual accounts of members
286.265
Notice to Public Employees’ Benefits Program regarding certain changes in payment status of benefit recipients.
286.282
Chief of Budget Division to advise Governor concerning review of System’s policies and performance.
286.287
Board to consider investments: Meetings
286.288
Liaison officer between System and members or employers
286.290
Conditions for membership in System.
286.293
Persons required to participate in System.
286.297
Persons excluded from membership in System.
286.300
Purchase of credit for service: Requirements
286.301
Credit for free prior service.
286.303
Free credit for military service.
286.365
Eligibility of civilian employees of Nevada National Guard for membership in System.
286.367
Eligibility of volunteer firefighters for membership in System: Contributions
286.370
Procedure for integration of previously established retirement systems.
286.385
Public employee on leave of absence to serve in Nevada Legislature may remain member of System.
286.391
Public employee on leave to work for employee or employer association may remain member of System
286.401
Termination of membership
286.410
Amount of contribution by members of System
286.421
Payment of contributions by employer on behalf of employee
286.425
Election by employee to have employer pay contributions.
286.430
Withdrawal of contributions.
286.435
Repayment upon retroactive reinstatement.
286.440
Redeposit of withdrawn contributions upon return to service: Procedure.
286.450
Rate of contributions by public employer.
286.460
Remittance of contributions by public employers.
286.462
Complaint to Department of Taxation required concerning delinquent report or payment.
286.470
Credit for service as county commissioner, city council member or mayor: Calculation of average compensation
286.475
Credit for service as Legislator before July 1, 1967: Calculation of average compensation.
286.477
Credit for part-time employment
286.479
Service credit for military service in Persian Gulf Crisis.
286.481
Service ineligible for credit.
286.486
Service credited in another system ineligible
286.495
Computation of credit for service: Generally.
286.501
Computation of credit for service: Employees of school districts and professional staff of Nevada System of Higher Education.
286.505
Conversion of credit for service
286.510
Eligibility: Age and service of police officers, firefighters and other employees
286.520
Employment of retired employee: Consequences
286.523
Employment of retired employee: Exception for reemployment of certain retired employees to fill positions for which critical labor shortage exists
286.525
Employment of retired employee: Enrollment in System
286.533
Limitation on distributions to members of System.
286.534
Actuarial assumptions used in computing benefits: Availability
286.535
Limitation on compensation used to determine retirement benefit.
286.537
Limitations on benefits and contributions.
286.538
Minimum benefits payable to employee who became member of System before January 1, 1990.
286.539
Prohibition against applying forfeitures to increase benefits.
286.541
Application for service retirement allowance or disability retirement allowance
286.545
Consent of spouse to retirement plan of member.
286.551
Determination of monthly service retirement allowance.
286.555
Refund of portion of contributions to certain persons who became members on or after January 1, 2010.
286.571
Postretirement increases: Calculation of increase for persons who became members on or after January 1, 2010, and before July 1, 2015.
286.574
Postretirement increases: Calculation of increase for persons who became members on or after July 1, 2015.
286.575
Postretirement increases: Payment
286.577
Postretirement increases: Persons receiving allowance before July 1, 1975
286.578
Postretirement increases: Increases payable July 1, 1979, and July 1, 1980.
286.579
Postretirement increases: Increase for persons receiving benefits before January 1, 1977.
286.590
Alternatives to unmodified service retirement allowance.
286.592
Optional plans: Death of beneficiary
286.612
Charges for deferred protection: Termination
286.615
Optional deduction from benefits for payments for group insurance, plan of benefits or medical and hospital service or other obligations
286.620
Disability retirement allowance: Eligibility
286.630
Disability retirement allowance: Approval or denial of application
286.634
Disability retirement allowance: Effective date of retirement.
286.637
Disability retirement allowance: Recipient to provide copy of federal income tax return
286.638
Disability retirement allowance: Reporting to Internal Revenue Service.
286.640
Disability retirement allowance: Cancellation.
286.650
Disability retirement allowance: Consequences of employment of recipient.
286.655
Payments for rehabilitation in lieu of disability retirement allowance.
286.660
Death of certain member before retirement: Disposition of money to member’s credit in Public Employees’ Retirement Fund.
286.665
Death of member, retired employee or beneficiary: Transfer of contributions to retirement fund under certain circumstances
286.667
Allowance for retired police officer or firefighter: Benefits for spouse upon death
286.668
Forfeiture of rights and benefits under System for conviction of certain felonies
286.669
Person convicted of murder or voluntary manslaughter of member ineligible to receive benefits.
286.670
Right to benefits not subject to taxes, process, bankruptcy, assignment or assessment for impairment or insolvency of insurance company
286.671
Definitions.
286.672
Eligibility.
286.673
Payments to child of deceased member.
286.674
Payments to spouse of deceased member.
286.676
Payments to spouse of deceased member who had 10 or more years of accredited contributing service.
286.677
Payment to dependent parents
286.679
Disposition of surplus of contributions if payments to beneficiary cease.
286.680
Investment by Board of money in funds
286.682
Authorized investments: “Prudent person” standard.
286.701
Definitions.
286.703
“Active business operations” defined.
286.705
“Business operations” defined.
286.707
“Company” defined.
286.709
“Direct holdings” defined.
286.711
“Inactive business operations” defined.
286.713
“Iran” defined.
286.715
“Petroleum resources” defined.
286.717
“Scrutinized business operations” defined.
286.719
“Scrutinized company” defined.
286.721
Board to identify, review and create list of investments in scrutinized companies.
286.723
Board to prepare report of investments in scrutinized companies.
286.725
Inapplicability to certain investments.
286.735
Definitions.
286.737
“Boycott of Israel” defined.
286.739
“Company” defined.
286.741
“Direct holdings” defined.
286.743
“Public fund” defined.
286.745
“Scrutinized company” defined.
286.747
Board to identify, review and create list of investments in scrutinized companies.
286.749
Board to prepare report of investments in scrutinized companies.
286.802
Board of Regents to establish separate program for retirement of certain employees
286.804
Program may be separate system or fund
286.808
Contributions
286.810
Designation of investment entities
286.812
Administration of program.
286.814
Participants ineligible for membership in Public Employees’ Retirement System.
286.816
Benefits payable only by designated investment entities.
286.820
False statement or certification
286.3005
Purchase of credit for service: Public employer may purchase credit for member.
286.3007
Purchase by state agency of credit for service: Conditions.
286.5756
Postretirement increases: Persons receiving benefits before September 1, 1983, or for 3 years before increase.
286.5765
Postretirement increases: Persons retired before July 1, 1963
286.5775
Postretirement increases: Increases based on years allowance received
286.5785
Postretirement increases: Increases payable July 1, 1981, and July 1, 1982.
286.6703
Payment of allowance or benefit to alternate payee pursuant to domestic relations order.
286.6705
Transfer of unpaid check for benefits or refund to retirement fund
286.6765
Payments to spouse if deceased member was eligible to retire.
286.6766
Payment in lump sum to spouse
286.6767
Designation of survivor beneficiary and additional payees by member.
286.6768
Payments to survivor beneficiary of and to additional payees designated by deceased member who had 10 or more years of accredited contributing service.
286.6769
Payment in lump sum to survivor beneficiary of and to additional payees designated by member
286.6775
Limitation on and reduction of amount of monthly allowance.
286.6793
Time of vesting
286.67665
Payments to spouse of member killed in line of duty or course of employment on or after July 1, 2013.
286.67675
Payments to survivor beneficiary of and to additional payees designated by deceased member.
286.67685
Payment to survivor beneficiary of and to additional payees designated by deceased member if deceased member was eligible to retire.
286.67695
Payments to survivor beneficiary of member killed in line of duty or course of employment on or after July 1, 2013.
Last Updated

Jun. 24, 2021

§ 286.190’s source at nv​.us