Bill
Bill > AB498
summary
Introduced
05/11/2023
05/11/2023
In Committee
06/04/2023
06/04/2023
Crossed Over
05/31/2023
05/31/2023
Passed
06/09/2023
06/09/2023
Dead
Vetoed
06/16/2023
06/16/2023
Introduced Session
82nd Legislature (2023)
Bill Summary
AN ACT relating to public employees' retirement; revising the calculation of contribution rates to the Public Employees' Retirement System from state employees and employers; revising the contribution rates for the separate retirement program provided by the Board of Regents of the University of Nevada; making appropriations; and providing other matters properly relating thereto.
AI Summary
This bill revises the calculation of contribution rates to the Public Employees' Retirement System (PERS) from state employees and employers. For state employees, the employee contribution rate is set at one-half of the normal cost actuarially determined for police officers/firefighters and regular members, with adjustments every two years. For state employers, the contribution rate is set as the total actuarially determined rate minus the employee's one-half normal cost contribution. The bill also increases the contribution rates for the separate retirement program provided by the Board of Regents of the University of Nevada from 10% to 17.5% for both the Board and participants. Finally, the bill makes appropriations to cover any deficiencies between the state's budget and the increased employer contributions to PERS.
Committee Categories
Budget and Finance
Sponsors (0)
No sponsors listed
Other Sponsors (1)
Ways and Means (Assembly)
Last Action
Vetoed by the Governor. (on 06/16/2023)
Official Document
bill text
bill summary
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bill summary
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bill summary
| Document Type | Source Location |
|---|---|
| State Bill Page | https://www.leg.state.nv.us/App/NELIS/REL/82nd2023/Bill/10556/Overview |
| BillText | https://www.leg.state.nv.us/Session/82nd2023/Bills/AB/AB498_EN.pdf |
| BillText | https://www.leg.state.nv.us/Session/82nd2023/Bills/AB/AB498_R1.pdf |
| Assemebly Amendment 748 | https://www.leg.state.nv.us/Session/82nd2023/Bills/Amendments/A_AB498_748.pdf |
| BillText | https://www.leg.state.nv.us/Session/82nd2023/Bills/AB/AB498.pdf |
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