Nevada § 218C.370 - Purchase of service credit: General requirements

§ 218C.370. Purchase of service credit: General requirements

Except as otherwise required as a result of NRS 218C.340 : 1. Any member of the Legislators' Retirement System may purchase all previous creditable

service performed in the Legislature if the service was performed before the creation

of the System. The Director must certify the inclusive dates of service of the Legislator to validate

the service. The Legislator must pay the Board's actuary for a computation of costs and pay the

full cost as determined by the actuary. 2. Any Legislator who is a member of the Legislators' Retirement System may purchase

credit for any period of service for which contributions were not paid while the Legislator

was receiving temporary total disability benefits for an industrial injury, if the

injury was sustained in performance of the Legislator's legislative duties for which

contributions were required. The Legislator must pay the Board's actuary for any necessary computation and must

also pay the full actuarial costs determined by the actuary. 3. Any Legislator who has 5 years of contributing creditable service may purchase

up to 5 years of out-of-state service performed with any federal, state, county or

municipal public agency if that service is no longer creditable in another public

retirement system. To validate such service, the Legislator must obtain a certification of the inclusive

dates of previous service performed with the other public agency, together with certification

from that agency that the Legislator's credit is no longer creditable in another public

retirement system. Upon application to retire, the Board shall determine whether the purchased service

has been re-established in any other public retirement system. The Legislator must pay the Board's actuary for the computation and pay the full

actuarial cost as determined by the actuary. For the purposes of this subsection, the Federal Old-Age and Survivor's Insurance

System is not a “public retirement system.” 4. Any Legislator who has at least 5 years of contributing creditable service may

purchase not more than 5 years of military service regardless of when served if the

service is no longer credited in the military retirement system. To validate military service, the Legislator must provide certification of the inclusive

dates of active military service performed, pay the Board's actuary for the computation

and pay the full actuarial cost as determined by the actuary. 5. Any contributing Legislator may purchase previous service performed for any public

employer which is not already credited in the Legislators' Retirement System, including

service as an elected officer or a person appointed to an elective office for an unexpired

term. The former public employer must certify the inclusive dates of employment and number

of hours regularly worked by the Legislator to validate such service. The Legislator must pay the Board's actuary for a computation of cost and pay the

full cost as determined by the actuary.