Nevada 2019 Regular Session Status: In Committee 1 D cosponsors

AB 399 — Provides for the establishment of a retirement savings program for private sector employees. (BDR 31-606)

Last action — (No further action taken.)

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  1. ✓
    Introduced
  2. 2
    In Committee
  3. 3
    Passed Assembly
  4. 4
    Passed Senate
  5. 5
    To Executive
  6. 6
    Enacted

This bill died with 2019 Regular Session. It reached “In Committee” and never advanced before the session ended, so it can no longer move — a new version would have to be reintroduced in the current session.

This bill is no longer active — its legislative session has ended, so there is no live prognosis. It would have to be reintroduced in the current session to move again.

Summary

AN ACT relating to employment; creating the Board of Trustees of the Nevada Employee Savings Trust; prescribing the membership, powers, duties and limitations of the Board; authorizing the Board to create the Nevada Employee Savings Trust Program; prescribing certain required attributes of the Program; creating the Nevada Employee Savings Administrative Fund and specifying the sources and uses of money deposited therein; creating the Nevada Employee Savings Trust and prescribing the manner of its administration; providing for the confidentiality of certain information; providing civil immunity to certain persons and entities in connection with the Program; making certain persons fiduciaries with respect to participants in the Program; prohibiting certain persons from engaging in certain financial transactions in connection with the Program; requiring the preparation and submission of certain annual reports; and providing other matters properly relating thereto.

Bill Text

What changed in the latest version

623 added · 646 removed

623 line(s) added, 646 removed.

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REQUIRES TWO-THIRDS MAJORITY VOTE (§ 20) A.B.
(Reprinted with amendments adopted on April 22, 2019) FIRST REPRINT A.B.
399 ASSEMBLY BILL NO .
399 ASSEMBLY B ILLN O.
399–ASSEMBLYWOMAN SPIEGEL M ARCH 21, 2019 ____________ Referred to Committee on Government Affairs SUMMARY—Provides for the establishment of a retirement savings program for private sector employees.
399–ASSEMBLYMEN SPIEGEL;
ASSEFA , CARRILLO , LORES , MARTINEZ , MUNK , NEAL , MITH AND YEAGER M ARCH 21, 2019 ____________ JOINTS PONSORS :
ENATORS P ARKS , ATTI AND W ASHINGTON ____________ Referred to Committee on Government Affairs SUMMARY—Provides for the establishment of a retirement savings program for private sector employees.
Legislative Counsel’s Digest:
LegExisting federal law provides for individual retirement accounts and individual retirement annuities by which persons may save money for retirement under - *AB399_R1* – 2 – favorable income tax treatment.
retirement annuities by which persons may save money for retirement underndividual favorable income tax treatment.
- *AB399* – 2 – Section 19 of this bill creates the Board of Trustees of the Nevada Employee Savings Trust and establishes its membership.
Section 19 of this bill creates the Board of Trustees of the Nevada Employee Savings Trust and establishes its membership.
In particular, section 20 authorizes and empowers the Board to:
In particular, section 20 authorizes and Savings Trust Program;
(1) design, establish and operate the Nevada Employee Savings Trust Program;
and (2) adopt regulations, rules and procedures for the establishment and operation of the Program and to take such other actions necessary or desirable to establish and operate the Program.
(2) charge and collect fees on money invested through the Program to defray the costs of administering the Program;
Section 21 of this bill requires the State Treasurer to provide staff support to the Board within the limits of appropriations and authorizes the State Treasurer to provide administrative support to the Board.
and (3) adopt regulations, rules and procedures for the establishment and operation of the operate the Program.such other actions necessary or desirable to establish and Section 21 of this bill requires the State Treasurer to provide staff support to the Board within the limits of appropriations and authorizes the Board to delegate to the State Treasurer any of its administrative powers and duties.
Section 22 also prohibits the Board from imposing any obligations on the State or pledging the credit of the State.
pledging the credit of the State.rd from imposing any obligations on the State or Section 23 of this bill establishes certain attributes that the Board must include in the Program, including:
in the Program, including:
(1) that covered employers must automatically enroll covered employees in the Program;
(1) that covered employers must automatically enrollnclude covered employees in the Program;
Section 24 of this bill creates the Nevada Savings Trust Administrative Fund in the State Treasury, specifies the sources of money that may be deposited in the administrative costs and expenses of the Board and the Program.pay the Section 25 of this bill authorizes the Board to borrow money or enter into certain long-term procurement contracts with financial providers until the Board determines that the Program is financially self-sustaining.
the State Treasury, specifies the sources of money that may be deposited in the in Fund and requires the Board to use money in the Fund solely to pay the administrative costs and expenses of the Board and the Program.
Section 25 of this bill authorizes the Board to borrow money or enter into certain long-term procurement contracts with financial providers until the Board determines that the Program is financially self-sustaining.
Section 26 requires that the assets of all Individual Retirement Accounts established by covered employees through the Program be allocated to the Trust and invested, managed and administered for the exclusive purposes of providing Board, Program and Trust.
Section 26 requires that the assets of all Individual Retirement Accounts and invested, managed and administered for the exclusive purposes of providing benefits to the covered employees and defraying the reasonable expenses of the Board, Program and Trust.
Section 26 also establishes certain investmentof the guidelines and practices.
Section 26 also establishes certain investment guidelines and practices.
Section 28 of this bill provides a grant of immunity from civil liability to covered employers for the consequences of various decisions made by employees employee’s decision to participate in or to opt out of the Program, any investment decision made by the participant or the Board, and any loss, failure to realize a gain, or any other adverse consequence incurred by any person as a result of participating in the Program.
covered employers for the consequences of various decisions made by employeesto or the Board in connection with the Program, including, for example, an employee’s decision to participate in or to opt out of the Program, any investment decision made by the participant or the Board, and any loss, failure to realize a gain, or any other adverse consequence incurred by any person as a result of - *AB399_R1* – 3 – participating in the Program.
- *AB399* – 3 – and the Board and a member of the Board or employee thereof, and the Programereof, from any responsibility or civil liability for the actions of certain other persons in connection with the Program, including, for example, a person’s failure to comply with provisions of the Internal Revenue Code, the payment of benefits, and any loss, failure to realize a gain, or any other adverse consequence incurred by any person as a result of participating in the Program.
and the Board and a member of the Board or employee thereof, and the Programereof, from any responsibility or civil liability for the actions of certain other persons in connection with the Program, including, for example, a person’s failure to comply with provisions of the Internal Revenue Code, the payment of benefits, and any loss, failure to realize a gain, or any other adverse consequence incurred by any person as a result of participating in the Program.
Section 30 of this bill provides that members of the Board, the Trustee and certain other persons involved in the administration of Trust are fiduciaries with resSection 31 of this bill prohibits members of the Board, its staff and persons who serve as administrators of the Program from engaging in certain financial transactions in connection with the Program.
Section 30 of this bill provides that members of the Board, the Trustee and certain other persons involved in the administration of Trust are fiduciaries with respect to the participants in the Program.
who serve as administrators of the Program from engaging in certain financialons transactions in connection with the Program.
and W HEREAS , The Nevada College Savings Program administered by the Board of Trustees of the College Savings Plans of Nevada has demonstrated the feasibility of a public-private partnership that outsources investment and administration to assist private citizens of - *AB399* – 4 – Nevada to save on a voluntary and cost-efficient basis;
and W HEREAS , The Nevada College Savings Program administered by the Board of Trustees of the College Savings Plans of Nevada - *AB399_R1* – 4 – has demonstrated the feasibility of a public-private partnership that outsources investment and administration to assist private citizens of Nevada to save on a voluntary and cost-efficient basis;
now, therefore, 4 THE PEOPLE OF THE STATE OF NEVADA, REPRESENTED IN SENATE AND ASSEMBLY, DO ENACT AS FOLLOWS:
now, therefore, 6 THE PEOPLE OF THE STATE OF NEVADA, REPRESENTED IN SENATE AND ASSEMBLY, DO ENACT AS FOLLOWS:
7 Section 1.
9 Section 1.
or (c) Any person who is an employee of the Federal government, the State or any other State, country or municipal corporation, or any of the State’s or any other state’s units or instrumentalities.
or - *AB399_R1* – 5 – (c) Any person who is an employee of the Federal government, the State or any other state, country or municipal corporation, or any of the State’s or any other state’s units or instrumentalities.
- *AB399* – 5 – Sec.
Sec.
Pays its employees through a payroll system or service;
Pays its employees through an electronic payroll system or service;
Sec.
Internal Revenue Code of 1986, as amended.the federal Sec.
11.
“Internal Revenue Code” means the federal Internal Revenue Code of 1986, as amended.
Sec.
“Investment fund” means an investment portfolio established by the Board within the Trust for investment purposes.
“Investment fund” means an investment portfolio estSec.
Sec.
“Participant” means a person who contributes to an Individual Retirement Account established or maintained through the Program or has an account balance in an Individual Program.nt Account established or maintained through the Sec.
“Participant” means a person who contributes to anses.
Individual Retirement Account established or maintained through the Program or has an account balance in an Individual Retirement Account established or maintained through the Program.
Sec.
Sec.
- *AB399_R1* – 6 – Sec.
- *AB399* – 6 – (b) The Lieutenant Governor or his or her designee;
(b) The Lieutenant Governor or his or her designee;
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6.
as required to perform its duties.
The Board shall meet at the call of the Chair as frequently as required to perform its duties.
call of the Chair as frequently 7.
7.
A majority of the members of the Board constitutes a quorum present at any meeting is sufficient for any official action taken by the Board.
A majority of the members of the Board constitutes a quorum for the transaction of business, and a majority of a quorum present at any meeting is sufficient for any official action taken by the Board.
Each member of the Board serves without compensation, exc(a) The per diem allowance and travel expenses provided for state officers and employees generally;
Each member of the Board serves without compensation, except that each member is entitled to receive:
(a) The per diem allowance and travel expenses provided for state officers and employees generally;
Charge and collect fees to defray the costs of administering the Program;
3.
4.
3.
Hire, retain and terminate third party service providers as the Board deems necessary or desirable for the Program, including, but not limited to, consultants, investment managers or advisors, trustees, custodians, insurance companies, record keepers, administrators, actuaries, counsel, auditors and other professionals;
Hire, retain and terminate third party service providers as the Board deems necessary or desirable for the Program, including, but not limited to, nonprofit organizations, consultants, investment managers or advisors, trustees, custodians, insurance companies, record keepers, administrators, actuaries, counsel, auditors and other professionals;
5.
- *AB399_R1* – 7 – 4.
- *AB399* – 7 – (b) Default contribution rate;
(b) Default contribution rate;
6.
5.
7.
6.
8.
7.
and 9.
and 8.
The State Treasurer shall, within the limits of legislative appropriations, provide staff support to the Board.
The State Treasurer shall, within the limits of legislative appropriations, provide staff support to the Board and may otherwise provide administrative support to the Board.
The Board may delegate to the State Treasurer any of its administrative powers and duties as specified in this chapter, if the Board determines that such delegation is necessary for the efficient and effective administration of the Trust.
The Board may enter into an intergovernmental agreement services with any officer, agency, division or department of thece State, including, without limitation, the Lieutenant Governor, Employment, Training and Rehabilitation, Department of of Business and Industry and Department of Labor.
3.
The Board may enter into an intergovernmental agreement or contract to obtain outreach, technical assistance or compliance services with any officer, agency, division or department of the Secretary of State, Department of Taxation, Department ofrnor, Employment, Training and Rehabilitation, Department of Business and Industry and Department of Labor.
- *AB399* – 8 – 1.
- *AB399_R1* – 8 – 1.
The Board shall determine the rules and procedures for withdrawals, distributions, transfers and rollovers of Individual Retirement Accounts and for the designation of Individual Retirement Account beneficiaries.
The Board shall determine the rules and procedures for withdrawals, distributions, transfers and rollovers of Individual Retirement Accounts and for the designation of Individual Ret8.emThe Board shall determine a method for employers other than covered employers and employees other than covered law.oyees to participate in the Program, if allowed under federal 9.
8.
The Board shall determine a method for employers other than covered employers and employees other than covered law.oyees to participate in the Program, if allowed under federal 9.
(d) A statement that covered employees seeking financial advice should contact their own financial advisors and that covered employers are not in a position to provide financial advice - *AB399* – 9 – and that covered employers are not liable for decisions covered employees make concerning the Program;
(d) A statement that covered employees seeking financial advice should contact their own financial advisors and that covered employers are not in a position to provide financial advice - *AB399_R1* – 9 – and that covered employers are not liable for decisions covered employees make concerning the Program;
10.
information, forms or instructions to be furnished to covered employees at such times as the Board determines that provide the cov(a) Making contributions to the covered employee’s Individual Retirement Account established or maintained through the Program, including, without limitation, a description of the default contribution rate, any automatic escalation rate or frequency and the covered employee’s right to elect to make no contribution or to change the contribution rate;
The Board shall prepare or cause to be prepared information, forms or instructions to be furnished to covered employees at such times as the Board determines that provide the cov(a) Making contributions to the covered employee’s Individual Retirement Account established or maintained through the Program, including, without limitation, a description of the default contribution rate, any automatic escalation rate or frequency and the covered employee’s right to elect to make no contribution or to change the contribution rate;
- *AB399* – 10 – 12.
- *AB399_R1* – 10 – 12.
The Board shall deposit in the Administrative Fund:
The Board shall deposit in the Administrative Fund all money received for the Program, including, without limitation:
(d) Money from the payment or application, account, administrative, or other fees and the payment of other money due the Board;
and (d) Earnings on money in the Administrative Fund.
(e) Money collected for the Administrative Fund from contributions to, or investment returns or assets of, the Program or other money collected by or for the Program or pursuant to arrangements established under the Program;
4.
and (f) Earnings on money in the Administrative Fund.
The Board shall use the money in the Administrative Fund solely to pay the administrative costs and expenses of the Program and the administrative costs and expenses the Board incurs in the perSec.
solely to pay the administrative costs and expenses of the Program and the administrative costs and expenses the Board incurs in the performance of its duties.
Sec.
The Board may, to enable or facilitate the start- up and continuing operation, maintenance, administration, and management of the Program until the Board determines that the Program has accumulated sufficient balances and is able to generate sufficient funding through fees assessed on Program accounts for the Program to be financially self-sustaining:
itsThe Board may, to enable or facilitate the start- up and continuing operation, maintenance, administration, and Program has accumulated sufficient balances and is able tothe generate sufficient funding for the Program to be financially self- sustaining:
- *AB399* – 11 – (a) Be borrowed in the name of the Program and Board only;
(a) Be borrowed in the name of the Program and Board only;
Within the limits of legislative appropriations, the State may pay on behalf of the Board administrative costs associated with the creation, maintenance, operation, and management of the Program and Trust until the Board determines that sufficient assets are available in the Administrative Fund for that purpose.
Within the limits of legislative appropriations, the State may pay on behalf of the Board administrative costs associated - *AB399_R1* – 11 – with the creation, maintenance, operation, and management of the Program and Trust until the Board determines that sufficient assets are available in the Administrative Fund for that purpose.
investment funds, each pursuing an investment strategy and policy established by the Board.
4.
The underlying investments of each investment fund must be diversified so as to minimize the risk of large losses under any circumstances.
The Board shall establish within the Trust one or more investment funds, each pursuing an investment strategy and policy established by the Board.
The Board may, at any time or from time to time, add, replace, or remove any investment fund.
The underlying investments of each large losses under any circumstances.
5.
The Board may, at any timef or from time to time, add, replace or remove any investment fund.
The Board may allow covered employees to allocate assets of their Individual Retirement Accounts among such investment funds and in such case, the Board also may designate an investment fund as a default investment for the Individual Retirement Accounts of covered employees who do not make an investment choice.
of their Individual Retirement Accounts among such investmentts funds and in such case, the Board also may designate an investment fund as a default investment for the Individual Retirement Accounts of covered employees who do not make an investment choice.
The Board, in consultation with such third-party professional investment advisers, manager, or consultants as it may retain, shall select the underlying investments of each investment fund.
The Board, in consultation with such third-party professional investment advisers, managers or consultants as it may retain, shall select the underlying investments of each investment fund.
An - *AB399* – 12 – investment fund may not invest in any bond, debt instrument or other security issued by the State.
An investment fund may not invest in any bond, debt instrument or other security issued by the State.
The Board may, in its discretion, retain an investment adviser to select and manage the investments of an investment fund on a discretionary basis, subject to the Board’s ongoing review and oversight.
The Board may, in its discretion, retain an investment adviser to select and manage the investments of an investment fund on a discretionary basis, subject to the Board’s ongoing - *AB399_R1* – 12 – review and oversight.
The State, Program, Board, guaranty any investment, rate of return, or interest on amounts held in the Trust, an investment fund, or any Individual Retirement Account.
The State, Program, Board, any member of the Board or any covered employer shall not guaranty any investment, rate of return, or interest on amounts Retirement Account.
The State, Program, Board, any member of the Board or any employer is not be liable for any losses incurred by Trust investments or otherwise by any covered employee or other person as a result of participating in the Program.
The State, Program, Board, any member of the Board or any employer is not be liable for any losses incurred other person as a result of participating in the Program.
11.
or 11.
Except to the extent necessary to administer the Program, personally identifiable information relating to individual participants in the program, including, without limitation the name, physical and electronic mail address, telephone number and other personally identifiable information of the participant, and information relating to individual accounts established or - *AB399* – 13 – maintained through the Program, including, without limitation, the identity or amount of any investment, contribution, or earnings attributable to an account, is confidential and must be maintained as confidential, unless the person who provides the information or is the subject of the information expressly agrees in writing to the disclosure of the information.
Except to the extent necessary to administer the Program, personally identifiable information relating to individual participants in the program, including, without limitation the name, physical and electronic mail address, telephone number and other personally identifiable information of the participant, and information relating to individual accounts established or maintained through the Program, including, without limitation, the identity or amount of any investment, contribution, or earnings attributable to an account, is confidential and must be maintained as confidential, unless the person who provides the - *AB399_R1* – 13 – information or is the subject of the information expressly agrees in writing to the disclosure of the information.
or (f) Any loss, failure to realize any gain, or any other adverse consequences, including, without limitation, any adverse tax consequences or loss of favorable tax treatment, public assistance, or other benefits, incurred by any person as a result of par2.ciA covered employer or other employer must not be deemed to be a fiduciary in relation to the Program.
or (f) Any loss, failure to realize any gain, or any other adverse consequences, including, without limitation, any adverse tax consequences or loss of favorable tax treatment, public assistance, or other benefits, incurred by any person as a result of participating in the Program.
Sec.
to be a fiduciary in relation to the Program.ust not be deemed Sec.
The State and any employee or officer thereof, and the Board and a member of the Board or employee thereof, and the Program:
The State and any employee or officer thereof, and the Program:d a member of the Board or employee thereof, (a) Have no responsibility for compliance by persons with the conditions and other provisions of the Internal Revenue Code that determine which persons are eligible to make tax-favored contributions to Individual Retirement Accounts, in what amount, and in what time frame and manner;
(a) Have no responsibility for compliance by persons with the conditions and other provisions of the Internal Revenue Code that determine which persons are eligible to make tax-favored contributions to Individual Retirement Accounts, in what amount, and in what time frame and manner;
and - *AB399* – 14 – (d) Are not and shall not be liable or responsible for any loss, deficiency, failure to realize any gain, or any other adverse consequences, including without limitation any adverse tax consequences or loss of favorable tax treatment, public assistance or other benefits, incurred by any person as a result of participating in the Program.
and (d) Are not and shall not be liable or responsible for any loss, deficiency, failure to realize any gain, or any other adverse consequences, including without limitation any adverse tax consequences or loss of favorable tax treatment, public assistance - *AB399_R1* – 14 – or other benefits, incurred by any person as a result of participating in the Program.
Directly or indirectly have any interest in the making of accruing from such an investment;or in any gains or profits 2.
Directly or indirectly have any interest in the making of any investment under the Program or in any gains or profits acc2.inBorrow any Program-related money or deposits, or use any such money or deposits in any manner, for himself or herself or as an 3.enBecome an endorser, surety or obligor on any investment made through the Program.
Borrow any Program-related money or deposits, or use any such money or deposits in any manner, for himself or herself or as an agent or partner of others;
or 3.
Become an endorser, surety or obligor on any investment made through the Program.
For the purposes of the audit, the auditors shall have access to the properties and records of the Board, Program and - *AB399* – 15 – Trust and may prescribe methods of accounting and the rendering of periodic reports in relation to projects undertaken by the Board, Program and Trust.
For the purposes of the audit, the auditors shall have access to the properties and records of the Board, Program and Trust and may prescribe methods of accounting and the rendering of periodic reports in relation to projects undertaken by the Board, Program and Trust.
2.
- *AB399_R1* – 15 – 2.
Except as otherwise provided in this section and NRS 1.4683, 1.4687, 1A.110, 3.2203, 41.071, 49.095, 49.293, 62D.420, 62D.440, 62E.516, 62E.620, 62H.025, 62H.030, 62H.170, 62H.220, 62H.320, 75A.100, 75A.150, 76.160, 78.152, 80.113, 81.850, 82.183, 86.246, 86.54615, 87.515, 87.5413, 87A.200, 87A.580, 87A.640, 88.3355, 88.5927, 88.6067, 88A.345, 88A.7345, 118B.026,9.2119.260,30,119.265, 1119.267,11119.280,116119A.280, 119A.653, 119B.370, 119B.382, 120A.690, 125.130, 125B.140, 126.141, 126.161, 126.163, 126.730, 127.007, 127.057, 127.130, 127.140, 127.2817, 128.090, 130.312, 130.712, 136.050, 159.044, 159A.044, 172.075, 172.245, 176.01249, 176.015, 176.0625, 176.09129, 176.156, 176A.630, 178.39801, 178.4715, 178.5691, 179.495, 179A.070, 179A.165, 179D.160, 200.3771, 200.3772, 200.5095, 200.604, 202.3662, 205.4651, 209.392, 209.3925, 209.419, 209.521, 211A.140, 213.010, 213.040, 213.095, 213.131, 217.105, 217.110, 217.464, 217.475, 218A.350, 218E.625, 218F.150, 218G.130, 218G.240, 218G.350, 228.270, 228.450, 228.495, 228.570, 231.069, 231.1473, 233.190, 237.300, 239.0105, 239.0113, 239B.030, 239B.040, 239B.050, 239C.140, 239C.210, 239C.230, 239C.250, 239C.270, 240.007, 241.020, 241.030, 241.039, 242.105, 244.264, 244.335, 247.540, 247.550, 247.560, 250.087, 250.130, 250.140, 250.150, 268.095, 268.490, 268.910, 271A.105, 281.195, 281.805, 281A.350, 281A.680, 281A.685, 281A.750, 281A.755, 281A.780, 284.4068, 286.110, 287.0438, - *AB399* – 16 – 289.025, 289.080, 289.387, 289.830, 293.4855, 293.5002, 293.503, 293.504, 293.558, 293.906, 293.908, 293.910, 293B.135, 293D.510, 331.110, 332.061, 332.351, 333.333, 333.335, 338.070, 338.1379, 338.1593, 338.1725, 338.1727, 348.420, 349.597, 349.775, 353.205, 353A.049, 353A.085, 353A.100, 353C.240, 360.240, 360.247, 360.255, 360.755, 361.044, 361.610, 365.138, 366.160, 368A.180, 370.257, 370.327, 372A.080, 378.290, 378.300, 379.008, 379.1495, 385A.830, 385B.100, 387.626, 387.631, 388.1455, 388.259, 388.501, 388.503, 388.513, 388.750, 388A.247, 388A.249, 391.035, 391.120, 391.925, 392.029, 392.147, 392.264, 392.271, 392.315, 392.317, 392.325, 392.327, 392.335, 392.850, 394.167, 394.1698, 394.447, 394.460, 394.465, 396.3295, 396.405, 396.525, 396.535, 396.9685, 398A.115, 408.3885, 408.3886, 408.3888, 408.5484, 412.153, 416.070, 422.2749, 422.305, 422A.342, 422A.350, 425.400, 427A.1236, 427A.872, 432.028, 432.205, 432B.175, 432B.280, 432B.290, 432B.407, 432B.430, 432B.560, 432B.5902, 433.534, 433A.360, 437.145, 439.840, 439B.420, 440.170, 441A.195, 441A.220, 441A.230, 442.330, 442.395, 442.735, 445A.665, 445B.570, 449.209, 449.245, 449A.112, 450.140, 453.164, 453.720, 453A.610, 453A.700, 458.055, 458.280, 459.050, 459.3866, 459.555, 459.7056, 459.846, 463.120, 463.15993, 463.240, 463.3403, 463.3407, 463.790, 467.1005, 480.365, 480.940, 481.063, 481.091, 481.093, 482.170, 482.5536, 483.340, 483.363, 483.575, 483.659, 483.800, 484E.070, 485.316, 501.344, 503.452, 522.040, 534A.031, 561.285, 571.160, 584.655, 587.877, 598.0964, 598.098, 598A.110, 599B.090, 603.070, 603A.210, 604A.710, 618.425, 622.310, 623.131, 623A.137, 624.110, 624.265, 624.327, 625.425, 625A.185, 628.418, 628B.230, 628B.760, 629.047, 629.069, 630.133, 630.30665, 630.336, 630A.555, 631.368, 632.121, 632.125, 632.405, 633.283, 633.301, 633.524, 634.055, 634.214, 634A.185, 635.158, 636.107, 637.085, 637B.288, 638.087, 638.089, 639.2485, 639.570, 640.075, 640A.220, 640B.730, 640C.400, 640C.600, 640C.620, 640C.745, 640C.760, 640D.190, 640E.340, 641.090, 641.325, 641A.191, 641A.289, 641B.170, 641B.460, 641C.760, 641C.800, 642.524, 643.189, 644A.870, 645.180, 645.625, 645A.050, 645A.082, 645B.060, 645B.092, 645C.220, 645C.225, 645D.130, 645D.135, 645E.300, 645E.375, 645G.510, 645H.320, 645H.330, 647.0945, 647.0947, 648.033, 648.197, 649.065, 649.067, 652.228, 654.110, 656.105, 661.115, 665.130, 665.133, 669.275, 669.285, 669A.310, 671.170, 673.450, 673.480, 675.380, 676A.340, 676A.370, 677.243, 679B.122, 679B.152, 679B.159, 679B.190, 679B.285, 679B.690, 680A.270, 681A.440, 681B.260, 681B.410, 681B.540, 683A.0873, 685A.077, 686A.289, 686B.170, 686C.306, 687A.110, 687A.115, 687C.010, - *AB399* – 17 – 688C.230, 688C.480, 688C.490, 689A.696, 692A.117, 692C.190, 692C.3507, 692C.3536, 692C.3538, 692C.354, 692C.420, 693A.480, 693A.615, 696B.550, 696C.120, 703.196, 704B.320, 704B.325, 706.1725, 706A.230, 710.159, 711.600 [,] and section 27 of this act and sections 35, 38 and 41 of chapter 478, Statutes of Nevada 2011 and section 2 of chapter 391, Statutes of Nevada 2013 and unless otherwise declared by law to be confidential, all public books and public records of a governmental entity must be open at all times during office hours to inspection by any person, and may be fully copied or an abstract or memorandum may be prepared from those public books and public records.
Except as otherwise provided in this section and NRS 1.4683, 1.4687, 1A.110, 3.2203, 41.071, 49.095, 49.293, 62D.420, 62D.440, 62E.516, 62E.620, 62H.025, 62H.030, 62H.170, 62H.220, 62H.320, 75A.100, 75A.150, 76.160, 78.152, 80.113, 81.850, 82.183, 86.246, 86.54615, 87.515, 87.5413, 87A.200, 87A.580, 87A.640, 88.3355, 88.5927, 88.6067, 88A.345, 88A.7345, 118B.026,9.2119.260,30,119.265, 1119.267,11119.280,116119A.280, 119A.653, 119B.370, 119B.382, 120A.690, 125.130, 125B.140, 127.140, 127.2817, 128.090, 130.312, 130.712, 136.050, 159.044, 159A.044, 172.075, 172.245, 176.01249, 176.015, 176.0625, 176.09129, 176.156, 176A.630, 178.39801, 178.4715, 178.5691, 179.495, 179A.070, 179A.165, 179D.160, 200.3771, 200.3772, 200.5095, 200.604, 202.3662, 205.4651, 209.392, 209.3925, 209.419, 209.521, 211A.140, 213.010, 213.040, 213.095, 213.131, 217.105, 217.110, 217.464, 217.475, 218A.350, 218E.625, 218F.150, 218G.130, 218G.240, 218G.350, 228.270, 228.450, 228.495, 228.570, 231.069, 231.1473, 233.190, 237.300, 239.0105, 239.0113, 239B.030, 239B.040, 239B.050, 239C.140, 239C.210, 239C.230, 239C.250, 239C.270, 240.007, 241.020, 241.030, 241.039, 242.105, 244.264, 244.335, 247.540, 247.550, 247.560, 250.087, 250.130, 250.140, 250.150, 268.095, 268.490, 268.910, 271A.105, 281.195, 281.805, 281A.350, 281A.680, 281A.685, 281A.750, 281A.755, 281A.780, 284.4068, 286.110, 287.0438, 289.025, 289.080, 289.387, 289.830, 293.4855, 293.5002, 293.503, 293.504, 293.558, 293.906, 293.908, 293.910, 293B.135, 293D.510, 331.110, 332.061, 332.351, 333.333, 333.335, 338.070, 338.1379, - *AB399_R1* – 16 – 338.1593, 338.1725, 338.1727, 348.420, 349.597, 349.775, 353.205, 353A.049, 353A.085, 353A.100, 353C.240, 360.240, 360.247, 360.255, 360.755, 361.044, 361.610, 365.138, 366.160, 368A.180, 370.257, 370.327, 372A.080, 378.290, 378.300, 379.008, 379.1495, 385A.830, 385B.100, 387.626, 387.631, 388.1455, 388.259, 388.501, 388.503, 388.513, 388.750, 388A.247, 388A.249, 391.035, 391.120, 391.925, 392.029, 392.147, 392.264, 392.271, 392.315, 392.317, 392.325, 392.327, 392.335, 392.850, 394.167, 394.1698, 394.447, 394.460, 394.465, 396.3295, 396.405, 396.525, 396.535, 396.9685, 398A.115, 408.3885, 408.3886, 408.3888, 408.5484, 412.153, 416.070, 422.2749, 422.305, 422A.342, 422A.350, 425.400, 427A.1236, 427A.872, 432.028, 432.205, 432B.175, 432B.280, 432B.290, 432B.407, 432B.430, 432B.560, 432B.5902, 433.534, 433A.360, 437.145, 439.840, 439B.420, 440.170, 441A.195, 441A.220, 441A.230, 442.330, 442.395, 442.735, 445A.665, 445B.570, 449.209, 449.245, 449A.112, 450.140, 453.164, 453.720, 453A.610, 453A.700, 458.055, 458.280, 459.050, 459.3866, 459.555, 459.7056, 459.846, 463.120, 463.15993, 463.240, 463.3403, 463.3407, 463.790, 467.1005, 480.365, 480.940, 481.063, 481.091, 481.093, 482.170, 482.5536, 483.340, 483.363, 483.575, 483.659, 483.800, 484E.070, 485.316, 501.344, 503.452, 522.040, 534A.031, 561.285, 571.160, 584.655, 587.877, 598.0964, 598.098, 598A.110, 599B.090, 603.070, 603A.210, 604A.710, 618.425, 622.310, 623.131, 623A.137, 624.110, 624.265, 624.327, 625.425, 625A.185, 628.418, 628B.230, 628B.760, 629.047, 632.121, 632.125, 632.405, 633.283, 633.301, 633.524, 634.055, 634.214, 634A.185, 635.158, 636.107, 637.085, 637B.288, 638.087, 638.089, 639.2485, 639.570, 640.075, 640A.220, 640B.730, 640C.400, 640C.600, 640C.620, 640C.745, 640C.760, 640D.190, 640E.340, 641.090, 641.325, 641A.191, 641A.289, 641B.170, 641B.460, 641C.760, 641C.800, 642.524, 643.189, 644A.870, 645.180, 645.625, 645A.050, 645A.082, 645B.060, 645B.092, 645C.220, 645C.225, 645D.130, 645D.135, 645E.300, 645E.375, 645G.510, 645H.320, 645H.330, 647.0945, 647.0947, 648.033, 648.197, 649.065, 649.067, 652.228, 654.110, 656.105, 661.115, 665.130, 665.133, 669.275, 669.285, 669A.310, 671.170, 673.450, 673.480, 675.380, 676A.340, 676A.370, 677.243, 679B.122, 679B.152, 679B.159, 679B.190, 679B.285, 679B.690, 680A.270, 681A.440, 681B.260, 681B.410, 681B.540, 683A.0873, 685A.077, 686A.289, 686B.170, 686C.306, 687A.110, 687A.115, 687C.010, 688C.230, 688C.480, 688C.490, 689A.696, 692A.117, 692C.190, 692C.3507, 692C.3536, 692C.3538, 692C.354, 692C.420, 693A.480, 693A.615, 696B.550, 696C.120, 703.196, 704B.320, - *AB399_R1* – 17 – 704B.325, 706.1725, 706A.230, 710.159, 711.600 [,] and section 27 of this act and sections 35, 38 and 41 of chapter 478, Statutes of Nevada 2011 and section 2 of chapter 391, Statutes of Nevada 2013 and unless otherwise declared by law to be confidential, all public books and public records of a governmental entity must be open at all times during office hours to inspection by any person, and may be fully copied or an abstract or memorandum may be prepared from those public books and public records.
A person may request a copy of a public record in any medium in which the public record is readily available.
A person may request a copy of a public record in any employee or agent of a governmental entity who has legal custodyer, or control of a public record:
An officer, employee or agent of a governmental entity who has legal custody or control of a public record:
Except as otherwise provided in this section, the Board of Trustees of the Nevada Employee Savings Trust shall establish the Nevada Employee Savings Trust Program and implement its provisions so that covered employees are able to - *AB399* – 18 – make contributions to an Individual Retirement Account through the Program not later than July 1, 2021.
Except as otherwise provided in this section, the Board of Trustees of the Nevada Employee Savings Trust shall establish the Nevada Employee Savings Trust Program and implement its provisions so that covered employees are able to make contributions to an Individual Retirement Account through the Program not later than July 1, 2021.
The Board may establish different classes of employees based on characteristics selected by the Board, including, without limitation, the size or type of their employers or the number of employees employed, and implement the Program in phases, so that the ability of covered employees to contribute to an Individual Retirement Account through the Program first applies on different dates for different classes of employees, but such an implementation must be substantially complete not later than July 1, 2023.
The Board may establish different classes of employees based on characteristics selected by the Board, including, without - *AB399_R1* – 18 – limitation, the size or type of their employers or the number of employees employed, and implement the Program in phases, so that the ability of covered employees to contribute to an Individual Retirement Account through the Program first applies on different dates for different classes of employees, but such an implementation must be substantially complete not later than July 1, 2023.
H - *AB399*
H - *AB399_R1*
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Amendments

2 amendments

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Action History

  1. (No further action taken.)

  2. From printer. To engrossment. Engrossed. First reprint. To committee.

  3. Notice of eligibility for exemption. From committee: Amend, and do pass as amended. Placed on Second Reading File. Read second time. Amended. (Amend. Nos. 369 and 538.) Rereferred to Committee on Ways and Means. Exemption effective. To printer.

  4. From printer. To committee.

  5. Read first time. Referred to Committee on Government Affairs. To printer.

Sponsors

  • Assemblywoman Ellen Spiegel · Primary
  • Assemblyman Alexander Assefa · Primary
  • Assemblyman Edgar Flores · Primary
  • Assemblywoman Susie Martinez · Primary
  • Assemblywoman Connie Munk · Primary
  • Assemblywoman Dina Neal · Primary
  • Assemblyman Greg Smith · Primary
  • Steve Yeager · Primary
  • Richard Carrillo · Primary

Sponsorship breakdown

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9 sponsors · 0 co-sponsors · 58 not signed on

Sponsors (9)

  • Assemblywoman Ellen Spiegel
  • Assemblyman Alexander Assefa
  • Assemblyman Edgar Flores
  • Assemblywoman Susie Martinez
  • Assemblywoman Connie Munk
  • Assemblywoman Dina Neal
  • Assemblyman Greg Smith
  • Yeager, Steve Democratic
  • Richard Carrillo

Co-sponsors (0)

None.

Not signed on (58)

58 members have not signed on to this bill.

Show all 58 →

"Not signed on" means a member has not sponsored or co-sponsored this bill — it does not imply opposition. Members flagged Voted No have a recorded No vote on this bill.

Whip count is in markup. Polling the chamber and every recorded vote this session. Only the first open is slow. It’s instant for you after this. Calling the roll · Tallying · Engrossing

Subjects

finance labor
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Frequently asked questions

What does AB 399 do?
AN ACT relating to employment; creating the Board of Trustees of the Nevada Employee Savings Trust; prescribing the membership, powers, duties and limitations of the Board; authorizing the Board to create the Nevada Employee Savings Trust Program; prescribing certain required attributes of the Program; creating the Nevada Employee Savings Administrative Fund and specifying the sources and uses of money deposited therein; creating the Nevada Employee Savings Trust and prescribing the manner of its administration; providing for the confidentiality of certain information; providing civil immunity to certain persons and entities in connection with the Program; making certain persons fiduciaries with respect to participants in the Program; prohibiting certain persons from engaging in certain financial transactions in connection with the Program; requiring the preparation and submission of certain annual reports; and providing other matters properly relating thereto.
Who sponsors AB 399?
AB 399 is sponsored by Assemblywoman Ellen Spiegel, Assemblyman Alexander Assefa, Assemblyman Edgar Flores, Assemblywoman Susie Martinez, Assemblywoman Connie Munk, Assemblywoman Dina Neal, Assemblyman Greg Smith, Yeager, Steve (Democratic), and Richard Carrillo.
What is the current status of AB 399?
This bill died with 2019 Regular Session. It reached “In Committee” and never advanced before the session ended, so it can no longer move — a new version would have to be reintroduced in the current session.
Where can I track AB 399?
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