SB 416 — Revises provisions relating to the Public Employees' Retirement System (PERS). (BDR 23-895)

S.B.Senate Bill No.

416416–Senators SParks, ENATEWoodhouse, BILLSpearman, NORatti; .

416–SCannizzaro, ENATORSDenis, PDondero ARKSLoop, ,D. W OODHOUSE , SPEARMAN , ATTI ;

CANNIZZAROHarris ,and DENIS,Washington DONDEROCHAPTER.......... L OOP , D.

HARRIS AND W ASHINGTON M ARCH 21, 2019 ____________ Referred to Committee on Government Affairs SUMMARY—Revises provisions relating to the Public Employees’ Retirement System (PERS).

(BDR 23-895) FISCAL NOTE:

Effect on Local Government:

No.

Effect on the State:

Yes.

~ EXPLANATION – Matter in bolded italics is new;

matter between brackets [omitted material] is material to be omitted.

(NRS 286.673) This provision also governs the payment of benefits to the children of andcertain judgesdeceased who are members of the Judicial Retirement Plan,System, andother tothan thejustices children of certain deceased legislators who are members of the Legislators’ RetirementRetirementdren of System.

Existing law also provides that payment of such benefits cease if the child is adopted, dies, ofmarries thisor, billwith eliminatescertain theexceptions, provisionturns that18 ceasesyears the payment of benefitsage. to such2 children upon their adoption.

(NRS 1A.580) Section 2 of this bill eliminates the provision that ceases the payment of benefits to such chilSection 3 of this bill requires the Public Employees’ Retirement Board to resume the payment of benefits in accordance with the provisions of this bill to any child of a deceased member of the Public Employees’ Retirement System, Judicial Retirement System or Legislators’ Retirement System whose payment of benefits ceased upon the child’s adoption in accordance with the provisions of applicable law as they existed before the effective date of this bill, if:

(1) the child is entitled to - *SB416* – 2 – receive such payments in accordance with the provisions of this bill;

and (2) the child,resumption orof thesuch survivingpayments parentin oraccordance legalwith guardianprocedures ofestablished thebyor child, applies for the the Board.

THEEXPLANATION PEOPLE– OFMatter THEin STATEbolded OFitalics NEVADA,is REPRESENTEDnew; IN SENATE AND ASSEMBLY, DO ENACT AS FOLLOWS:

Sectionmatter 1.between brackets [omitted material] is material to be omitted.

- 80th Session (2019) – 2 – THE SENATE AND ASSEMBLY, DO ENACT AS FOLLOWS:D IN Section 1.

If the Board ceases the payment of benefits to a child of a deceased member who received benefits pursuant to subsection 3 because the child ceased being a full-time student, the Board may resume the payment of such benefits until the last day of the month of the child’s 23rd birthday if the child returns to full-time status at an accredited:

- *SB416* – 3 – 6.

and - 80th Session (2019) – 3 – (c) Physically or mentally incompetent.

Each child of a deceased member of the Judicial Retirement Plan is entitled to receive a cumulative benefit of at least $400the permember’s month,death.inning beginning on the first day of the month following the2. member’s death.

2.

(a) High school;

- *SB416* – 4 – (a) Surviving parent;

and - 80th Session (2019) – 4 – (c) Physically or mentally incompetent.

If the Public Employees’ Retirement Board ceased the payment of benefits to a child of a deceased member of the Public Employees’ Retirement System, Judicial Retirement System or Legislators’ Retirement System upon the child’s adoption, pursuant to the provisions of NRS 1A.580 or 286.673, as those sections existed before the effective date of this act, the Board shall resume the payment of such benefits to the child if:

H~~~~~ 19 - *SB416*80th Session (2019)