Nevada 2023 Regular Session Status: To Executive

AB 498 — Revises provisions relating to public employees' retirement. (BDR 23-1200)

Last action — Vetoed by the Governor.

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

This bill died with 2023 Regular Session. It reached “To Executive” 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.

Vetoed by Governor Joe Lombardo (Republican) on June 16, 2023.

This bill is no longer active — its legislative session has ended, so there is no live prognosis.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.

Bill Text

What changed in the latest version

427 added · 458 removed

427 line(s) added, 458 removed.

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EXEMPT (Reprinted with amendments adopted on May 26, 2023) FIRST REPRINT A.B.
Assembly Bill No.
498 A SSEMBLY B ILLN O.
498–Committee on Ways and Means CHAPTER..........
498–COMMITTEE ON W AYS AND M EANS M AY 11, 2023 ____________ Referred to Committee on Ways and Means SUMMARY—Revises provisions relating to public employees’ retirement.
(BDR 23-1200) 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.
Existing law provides that certain public employees receive retirement allowances through membership in and contributions to the Public Employees’ Retirement System.
allowances through membership in and contributions to the Public Employees’ Retirement System.
(1) the contribution rates of employees and employers to the System be adjusted every 2 years based on the actuarially determined contribution rate indicated in the biennial rate is higher or lower than the actuarially determined rate by a specifiede existing percentage;
(1) the contribution rates of employees and employers to the System be adjusted every 2 years based on the actuarially determined contribution rate indicated in the biennial actuarial valuation and report of the immediately preceding year, unless the existing rate is higher or lower than the actuarially determined rate by a specified percentage;
(NRS 286.410, 286.421, 286.450) Section 5 of this bill revises the contribution rate for an employee of a participating state agency from a rate equal to that paid by the employer to one-half of the normal cost that is actuarially determined for police officers and firefighters and for regular members, depending on the retirement fund in which the member is participating state agency to be the total contribution rate actuarially determined for police officers and firefighters and for regular members, depending on the retirement fund in which the member is participating, less the employee contribution rate of one-half of the normal costs determined pursuant to section 5.
(NRS 286.410, 286.421, 286.450) Section 5 of this bill revises the contribution rate for an employee of a of the normal cost that is actuarially determined for police officers and firefighters and for regular members, depending on the retirement fund in which the member is participating.
Section 7 of this bill revises the employer contribution rate for a participating state agency to be the total contribution rate actuarially determined for police officers and firefighters and for regular members, depending on the retirement fund in which the member is participating, less the employee contribution rate of one-half of the normal costs determined pursuant to section 5.
Retirement System to require, for purposes of the adjustment of salary increases - *AB498_R1* – 2 – and cost-of-living increases or of salary reductions, that the division of total contributions be determined in the same manner as provided for determining the employee and employer contribution rates.
Retirement System to require, for purposes of the adjustment of salary increases and cost-of-living increases or of salary reductions, that the division of total contributions be determined in the same manner as provided for determining the employee and employer contribution rates.
Section 3 of this bill defines the term “normal costs” as that portion of the as determined by an actuary of the System.
Section 3 of this bill defines the term “normal costs” as that portion of the present value of projected benefits that is attributable to the current year of service, as determined by an actuary of the System.
Section 4 of this bill defines the termrvice, “participating state agency” to mean the following public employers that participate in the System:
Section 4 of this bill defines the term “participating state agency” to mean the following public employers that participate in the System:
(1) an agency, bureau, board, commission, department, division, officer or other unit of the Executive Branch of the State Government, the Nevada System of Higher Education and the Public Employees’ Retirement System;
(1) an agency, bureau, board, commission, department, division, System of Higher Education and the Public Employees’ Retirement System;
(2) the Legislative Branch of the State Government;
(2) theda Legislative Branch of the State Government;
and (3) the Judicial Branch of the StaExisting law requires the Board of Regents of the University of Nevada to provide a retirement program separate from the Public Employees’ Retirement System which provides retirement benefits for members of the professional staff.
and (3) the Judicial Branch of the State Government.
(NRS 286.802) Existing law further requires the Board of Regents and a participant in the retirement program to each contribute an amount equal to 10 percent of the participant’s gross compensation, but those contributions must not be less than the Section 8 of this bill eliminates that threshold and increases to 17.5 percent of a participant’s gross compensation the amount that the Board of Regents and each participant is required to contribute to the retirement program.
Existing law requires the Board of Regents of the University of Nevada to provide a retirement program separate from the Public Employees’ Retirement System which provides retirement benefits for members of the professional staff.
Sections 9-13 of this bill make appropriations for the purpose of meeting any deficiencies between the money appropriated to the departments, commissions and agencies of the State of Nevada for the 2023-2025 biennium and the increase in this bill.ontributions to the Public Employees’ Retirement System pursuant to THE PEOPLE OF THE STATE OF NEVADA, REPRESENTED IN SENATE AND ASSEMBLY, DO ENACT AS FOLLOWS:
(NRS 286.802) Existing law further requires the Board of Regents and a participant in the retirement program to each contribute an amount equal to 10 percent of the participant’s gross compensation, but those contributions must not be less than the - 82nd Session (2023) – 2 – contributions made for the Public Employees’ Retirement System.
(NRS 286.808) participant’s gross compensation the amount that the Board of Regents and each of a participant is required to contribute to the retirement program.
Sections 9-13 of this bill make appropriations for the purpose of meeting any deficiencies between the money appropriated to the departments, commissions and employer contributions to the Public Employees’ Retirement System pursuant ton this bill.
EXPLANATION – Matter in bolded italics is new;
matter between brackets [omitted material] is material to be omitted.
THE PEOPLE OF THE STATE OF NEVADA, REPRESENTED IN SENATE AND ASSEMBLY, DO ENACT AS FOLLOWS:
Sec.
public employers that participate in the System:e following 1.
4.
“Participating state agency” means the following public employers that participate in the System:
1.
- *AB498_R1* – 3 – Sec.
Sec.
The adjusted rate must be rounded to the nearest one-quarter of 1 percent.
The - 82nd Session (2023) – 3 – adjusted rate must be rounded to the nearest one-quarter of 1 percent.
[The] Except as provided in subsection 4, the employee’s portion of the matching contribution rate for employees and employers must not be adjusted in accordance with the provisions of paragraph (b) of subsection 1 if:
[The] Except as provided in subsection 4, the employee’s portion of the matching contribution rate for employees and paragraph (b) of subsection 1 if:
(a) The existing rate is lower than the actuarially determined rate but within one-quarter of 1 percent of the actuarially determined rate.
accordance with the provisions of (a) The existing rate is lower than the actuarially determined rate but within one-quarter of 1 percent of the actuarially determined rate.
4.
employees of a participating state agency and employers must not be adjusted in accordance with the provisions of paragraph (b) of subsection 3 if:
The employee’s portion of the contribution rate for employees of a participating state agency and employers must not be adjusted in accordance with the provisions of paragraph (b) of subsection 3 if:
(a) The existing rate is lower than the actuarially determined rate but within one-quarter of 1 percent of the actuarially determined rate.
- *AB498_R1* – 4 – (a) The existing rate is lower than the actuarially determined rate but within one-quarter of 1 percent of the actuarially determined rate.
From each payroll during the period of the employee’s membership, the employer shall deduct the amount of the member’s contributions and transmit the deduction to the Board at intervals designated and upon forms prescribed by the Board.
From each payroll during the period of the employee’s membership, the employer shall deduct the amount of the member’s contributions and transmit the deduction to the Board at intervals - 82nd Session (2023) – 4 – designated and upon forms prescribed by the Board.
Any employee whose position is determined after July 1, 1971, to be eligible under the early retirement provisions for police officers and firefighters shall contribute the additional contributions required of police officers and firefighters from July 1, 1971, to the date of the employee’s enrollment under the Police and Firefighters’ Retirement Fund, if employment in this position occurred before July 1, 1971, or from date of employment in this position to the date of the employee’s enrollment under the Police and Firefighters’ Retirement Fund, if employment occurs later.
Any employee whose position is determined after police officers and firefighters shall contribute the additionalns for contributions required of police officers and firefighters from July 1, 1971, to the date of the employee’s enrollment under the Police and Firefighters’ Retirement Fund, if employment in this position occurred before July 1, 1971, or from date of employment in this position to the date of the employee’s enrollment under the Police and Firefighters’ Retirement Fund, if employment occurs later.
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286.421 1.
its employees the contributions required by subsection 1 of NRSlf of 286.410 before July 1, 1983, shall continue to do so, but a public employer may not elect to pay those contributions on behalf of its employees on or after July 1, 1983.
A public employer that elected to pay on behalf of its employees the contributions required by subsection 1 of NRS 286.410 before July 1, 1983, shall continue to do so, but a public employer may not elect to pay those contributions on behalf of its employees on or after July 1, 1983.
2.
- *AB498_R1* – 5 – 2.
An employee of a public employer that did not elect to pay on behalf of its employees the contributions required by subsection of NRS 286.410 before July 1, 1983, may elect to:
An employee of a public employer that did not elect to pay on behalf of its employees the contributions required by subsection 1 of NRS 286.410 before July 1, 1983, may elect to:
(a) Payment of the employee’s portion of the contributions pursuant to subsection 1 or paragraph (b) of subsection 2 must be:
- 82nd Session (2023) – 5 – pursuant to subsection 1 or paragraph (b) of subsection 2 must be:
Employee contributions made by a public employer must be deposited in either the Public Employees’ Retirement Fund or the Police and Firefighters’ Retirement Fund as is appropriate.
Employee contributions made by a public employer must be Police and Firefighters’ Retirement Fund as is appropriate.
(a) The total contribution rate for employers that is actuarially determined for police officers and firefighters and for regular members, depending upon the retirement fund in which the member is participating.
(a) The total contribution rate for employers that is actuarially determined for police officers and firefighters and for regular members, depending upon the retirement fund in which the member is (b) Except as otherwise provided in subsection 7, adjusted on the first monthly retirement reporting period commencing on or after July 1 of each odd-numbered year based on the actuarially determined contribution rate indicated in the biennial actuarial valuation and report of the immediately preceding year.
- *AB498_R1* – 6 – (b) Except as otherwise provided in subsection 7, adjusted on the first monthly retirement reporting period commencing on or after July 1 of each odd-numbered year based on the actuarially determined contribution rate indicated in the biennial actuarial valuation and report of the immediately preceding year.
7.
- 82nd Session (2023) – 6 – 7.
(a) The existing rate is lower than the actuarially determined rate but is within one-half of 1 percent of the actuarially determined rate.
(a) The existing rate is lower than the actuarially determined rate but(b) The existing rate is higher than the actuarially determinedrate.
(b) The existing rate is higher than the actuarially determined rate but is within 2 percent of the actuarially determined rate.
rate but is within 2 percent of the actuarially determined rate.
[The] Except as otherwise provided in subsection 3, the employer contribution rate must be:
[The] Except as otherwise provided in subsection 3, (a) The matching contribution rate for employees and employers that is actuarially determined for police officers and firefighters and for regular members, depending upon the retirement fund in which the member is participating.
(a) The matching contribution rate for employees and employers that is actuarially determined for police officers and firefighters and for regular members, depending upon the retirement fund in which the member is participating.
The - *AB498_R1* – 7 – adjusted rate must be rounded to the nearest one-quarter of 1 percent.
The adjusted rate must be rounded to the nearest one-quarter of 1 percent.
(a) The existing rate is lower than the actuarially determined rate but is within one-quarter of 1 percent of the actuarially determined rate.
- 82nd Session (2023) – 7 – but is within one-quarter of 1 percent of the actuarially determinedte rate.
(b) Except as otherwise provided in subsection 4, adjusted on the first monthly retirement reporting period commencing on or after July 1 of each odd-numbered year based on the actuarially determined normal cost as indicated in the biennial actuarial valuation and report of the immediately preceding year.
(b) Except as otherwise provided in subsection 4, adjusted on the first monthly retirement reporting period commencing on or determined normal cost as indicated in the biennial actuarially valuation and report of the immediately preceding year.
If the existing rate is more than 1 percent higher than the actuarially determined rate, the existing rate must be reduced by the amount by which it exceeds 1 percent above the actuarially determined rate.
If the existing rate is more than 1 percent higher than the actuarially determined rate, the existing rate must be reduced by the amount rate.ich it exceeds 1 percent above the actuarially determined Sec.
Sec.
The Board of Regents of the University of Nevada shall contribute on behalf of each participant an amount equal to [10] 17.5 percent of the participant’s gross compensation - *AB498_R1* – 8 – during continuance of employment.
The Board of Regents of the University of Nevada shall contribute on behalf of each participant an amount equal to [10] 17.5 percent of the participant’s gross compensation during continuance of employment.
[, but the contributions required by this section must not be less than those authorized by NRS 286.410 and 286.450.] Payment of the contributions required by this section must be made by the disbursing officer for the Nevada System of Higher Education to the designated investment entities for the benefit of each participant.
[, but the contributions required by this section must not be less than those authorized by NRS 286.410 and 286.450.] Payment of - 82nd Session (2023) – 8 – disbursing officer for the Nevada System of Higher Education to the designated investment entities for the benefit of each participant.
Except as otherwise provided in this section and sections 10, 11 and 12 of this act, there is hereby appropriated from the State General Fund to the State Board of Examiners for the purpose of meeting any deficiencies which may be created between the money appropriated to the departments, commissions and agencies of the State of Nevada, including, without limitation, the Commission on Judicial Discipline, as fixed by the 82nd Session of the Nevada Legislature, and the requirements for increasing the employer contributions to the Public Employees’ Retirement System pursuant to this act, the following sums:
Except as otherwise provided in this section and sections 10, 11 and 12 of this act, there is hereby appropriated from the State General Fund to the State Board of Examiners for the purpose of meeting any deficiencies which may be created between the money appropriated to the departments, commissions and agencies of the State of Nevada, including, without limitation, the Commission on Judicial Discipline, as fixed by the 82nd Session of employer contributions to the Public Employees’ Retirementg the System pursuant to this act, the following sums:
There is hereby appropriated from the State General Fund to the State Board of Examiners the sum of $12,934,788 for Fiscal Year 2023-2024 for reimbursement to any department, commission or agency of the State of Nevada whose positions are included in the Executive Budget, as provided by the 82nd Session of the Nevada Legislature, and whose budget accounts have authorized reserves or retained earnings, for the purpose of meeting any deficiencies which may be created between the authorized money of the respective departments, commissions and agencies of the State of Nevada, as fixed by the 82nd Session of the Nevada Legislature, and the requirements for increasing the employer contributions to the Public Employee’s Retirement System pursuant to this act.
There is hereby appropriated from the State General Fund to the State Board of Examiners the sum of $12,934,788 for Fiscal Year 2023-2024 for reimbursement to any department, commission or agency of the State of Nevada whose positions are included in the Executive Budget, as provided by the 82nd Session of the Nevada Legislature, and whose budget accounts have authorized reserves or retained earnings, for the purpose of meeting any deficiencies which may be created between the authorized money of the respective departments, commissions and agencies of the State of Nevada, as fixed by the 82nd Session of the Nevada Legislature, and the requirements for increasing the employer contributions to the Public Emp3.
3.
There is hereby appropriated from the State General Fund to the State Board of Examiners the sum of $12,483,068 for Fiscal Year 2023-2024 for reimbursement to any department, commission or agency of the State of Nevada whose positions are included in the Executive Budget, as provided by the 82nd Session of the Nevada Legislature, and whose budget accounts do not have authorized reserves or retained earnings and do not receive any appropriations from the State General Fund or the State Highway Fund, for the purpose of meeting any deficiencies which may be created between - 82nd Session (2023) – 9 – and agencies of the State of Nevada, as fixed by the 82nd Session of the Nevada Legislature, and the requirements for increasing the employer contributions to the Public Employee’s Retirement System pursuant to this act.
There is hereby appropriated from the State General Fund to the State Board of Examiners the sum of $12,483,068 for Fiscal Year 2023-2024 for reimbursement to any department, commission or agency of the State of Nevada whose positions are included in the Executive Budget, as provided by the 82nd Session of the Nevada Legislature, and whose budget accounts do not have authorized reserves or retained earnings and do not receive any appropriations - *AB498_R1* – 9 – from the State General Fund or the State Highway Fund, for the purpose of meeting any deficiencies which may be created between the authorized money of the respective departments, commissions and agencies of the State of Nevada, as fixed by the 82nd Session of the Nevada Legislature, and the requirements for increasing the employer contributions to the Public Employee’s Retirement System pursuant to this act.
Any remaining balance of the appropriations made by this section must not be committed for expenditure after June 30, 2025, by the entity to which the appropriation is made or any entity to which money from the appropriation is granted or otherwise transferred in any manner, and any portion of the appropriated money remaining must not be spent for any purpose after September 19, 2025, by either the entity to which the money was appropriated or the entity to which the money was subsequently granted or transferred, and must be reverted to the State General Fund on or before September 19, 2025.
Any remaining balance of the appropriations made by this section must not be committed for expenditure after June 30, 2025, by the entity to which the appropriation is made or any entity to which money from the appropriation is granted or otherwise money remaining must not be spent for any purpose afterpriated September 19, 2025, by either the entity to which the money was appropriated or the entity to which the money was subsequently granted or transferred, and must be reverted to the State General Fund on or before September 19, 2025.
For the Fiscal Year 2023-2024...............................$1,568,795 For the Fiscal Year 2024-2025...............................$1,734,157 2.
For the Fiscal Year 2023-2024...............................$1,568,795 For the Fiscal Year 2024-2025...............................$1,734,157 remaining at the end of the respective fiscal years must not be committed for expenditure after June 30 of the respective fiscal years by the entity to which the appropriation is made or any entity to which money from the appropriation is granted or otherwise transferred in any manner, and any portion of the appropriated money remaining must not be spent for any purpose after September 20, 2024, and September 19, 2025, respectively, by either the entity to which the money was appropriated or the entity to which the money was subsequently granted or transferred, and - 82nd Session (2023) – 10 – September 20, 2024, and September 19, 2025, respectively.
Any balance of the sums appropriated by subsection 1 remaining at the end of the respective fiscal years must not be committed for expenditure after June 30 of the respective fiscal years by the entity to which the appropriation is made or any entity to which money from the appropriation is granted or otherwise transferred in any manner, and any portion of the appropriated money remaining must not be spent for any purpose after September 20, 2024, and September 19, 2025, respectively, by either the entity to which the money was appropriated or the entity to which the money was subsequently granted or transferred, and - *AB498_R1* – 10 – must be reverted to the State General Fund on or before September 20, 2024, and September 19, 2025, respectively.
There is hereby appropriated from the State General Fund to the State Board of Examiners for the purpose of meeting any deficiencies which may be created between the money appropriated to the Nevada System of Higher Education, as fixed by the 82nd Session of the Nevada Legislature, and the requirements for increasing the employer contributions to the Public Employees’ Retirement System pursuant to this act the following sums:
There is hereby appropriated from the State General Fund to the State Board of Examiners for the purpose of meeting any deficiencies which may be created between the money appropriated to the Nevada System of Higher Education, as fixed by the 82nd Session of the Nevada Legislature, and the requirements for increasing the employer contributions to the Public Employees’ RetireFor the Fiscal Year 2023-2024.............................
For the Fiscal Year 2023-2024.............................
Sec.
Highway Fund to the State Board of Examiners for the purpose of meeting any deficiencies which may be created between the money appropriated to the departments, commissions and agencies of the State of Nevada, as fixed by the 82nd Session of the Nevada Legislature, and the requirements for increasing the employer contributions to the Public Employees’ Retirement System pursuant to this act the following sums:
13.
1.
There is hereby appropriated from the State Highway Fund to the State Board of Examiners for the purpose of meeting any deficiencies which may be created between the money appropriated to the departments, commissions and agencies of the State of Nevada, as fixed by the 82nd Session of the Nevada Legislature, and the requirements for increasing the employer contributions to the Public Employees’ Retirement System pursuant to this act the following sums:
$20,703,524 2.
$20,703,524 - 82nd Session (2023) – 11 – 2.
Any remaining balance of the sums appropriated by subsection 1 and, if applicable, transferred pursuant to this - *AB498_R1* – 11 – forward to Fiscal Year 2024-2025 to be used for the same purpose.
Any remaining balance of the sums appropriated by subsection 1 and, if applicable, transferred pursuant to this subsection, at the end of Fiscal Year 2023-2024 must be carried forward to Fiscal Year 2024-2025 to be used for the same purpose.
The sums appropriated by subsection 1 for Fiscal Year 2024-2025 may be transferred from Fiscal Year 2024-2025 to Fiscal Year 2023-2024 with the approval of the Interim Finance Committee upon the recommendation of the Governor.
may be transferred from Fiscal Year 2024-2025 to Fiscal Year025 2023-2024 with the approval of the Interim Finance Committee upon the recommendation of the Governor.
H - *AB498_R1*
~~~~~ 23 - 82nd Session (2023)
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Amendments

1 amendment

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Action History

  1. Vetoed by the Governor.

  2. Enrolled and delivered to Governor.

  3. Read third time. Passed. Title approved. (Yeas: 16, Nays: 5.) To Assembly. In Assembly. To enrollment.

  4. From committee: Do pass. Placed on Second Reading File. Read second time.

  5. Read third time. Passed, as amended. Title approved, as amended. (Yeas: 28, Nays: 14.) To Senate. In Senate. Read first time. Referred to Committee on Finance. To committee.

  6. Taken from General File. Placed on General File for next legislative day.

  7. Taken from General File. Placed on General File for next legislative day.

  8. From committee: Amend, and do pass as amended. Placed on Second Reading File. Read second time. Amended. (Amend. No. 748.) To printer. From printer. To engrossment. Engrossed. First reprint.

  9. From printer. To committee.

  10. Read first time. Referred to Committee on Ways and Means. To printer.

Sponsors

  • Assembly Committee on Ways and Means · Primary

Sponsorship breakdown

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1 sponsors · 0 co-sponsors · 66 not signed on

Sponsors (1)

  • Assembly Committee on Ways and Means

Co-sponsors (0)

None.

Not signed on (66)

66 members have not signed on to this bill.

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"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.

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Frequently asked questions

Who sponsors AB 498?
AB 498 is sponsored by Assembly Committee on Ways and Means.
What is the current status of AB 498?
This bill died with 2023 Regular Session. It reached “To Executive” 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 498?
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