Nevada § 1A.460 - Optional plans: Death of beneficiary; change of selection; effective date of termination or adjustment of allowance

§ 1A.460. Optional plans: Death of beneficiary; change of selection; effective date of termination or adjustment of allowance

1. If a member of the Judicial Retirement Plan enters retirement status under one

of the optional plans described in NRS 1A.450 and the designated beneficiary predeceases the retired justice or judge, the monthly

retirement allowance must be automatically adjusted to the unmodified retirement allowance

provided in NRS 1A.440 . 2. A retired justice or judge may not change the selected option or designated beneficiary

after the effective date of retirement except as otherwise provided in subsection

3 of this section and subsection 3 of NRS 1A.370 . 3. A retired justice or judge may cancel the selected option and designation of beneficiary

and revert to the unmodified retirement allowance. The retired justice or judge shall make this election by written designation, acknowledged

and filed with the Board. The written election must be accompanied by a written, notarized acknowledgment

of the change by the beneficiary if the beneficiary is the spouse of the retired justice

or judge. The election to cancel a selected option and revert to the unmodified allowance

does not abrogate any obligation of the retired justice or judge respecting community

property. 4. The termination or adjustment of a monthly retirement allowance resulting from

the death of a justice or judge or beneficiary must not become effective until the

first day of the month immediately following the death of the retired justice or judge

or beneficiary.