CLARK COUNTY BOARD OF COMMISSIONERS
AGENDA ITEM
Petitioner:
Kevin S. Schiller, County Manager
Recommendation:
title
Approve and authorize the payment of alternative retirement contributions for PERS retired employees who are elected or appointed to an elected office in compliance with NRS 286.520 beginning January 1, 2024. (For possible action)
body
FISCAL IMPACT:
Fund #:
Various
Fund Name:
Fund Center:
N/A
Funded PGM/Grant:
Amount:
$133,657
Description:
Alternative retirement contributions
Additional Comments:
Future contributions will depend on the number of elected or appointed officials who may qualify for an alternative retirement payment. Payments will be limited to the amount allowable under NRS 286.520.
BACKGROUND:
Employees who retire from the Public Employees Retirement System (PERS) in Nevada are generally prohibited from drawing their PERS retirement if they become re-employed by a public entity covered by PERS. One exception to this prohibition is the case of a retired employee who is elected or appointed to an elective public office. That employee can continue to draw their PERS retirement in addition to the statutory salary for the elective office. In 1999, the Nevada Legislature amended NRS 286.520 to allow, but not require, public employers to pay contributions on behalf of that official to a separate retirement account. The amount of the contributions cannot exceed the amount that the public official would have paid into PERS on behalf of that official.