Nevada § 286.5756 - Postretirement increases: Persons receiving benefits before September 1, 1983, or for 3 years before increase

§ 286.5756. Postretirement increases: Persons receiving benefits before September 1, 1983, or for 3 years before increase

1. Except as otherwise provided in NRS 286.571 and 286.574 , a person is entitled to the increase provided in this section if the person began

receiving an allowance or benefit: (a) Before September 1, 1983, and has received the allowance or benefit for at least

6 continuous months in the 12 months preceding the effective date of the increase;

or (b) At least 3 years before the increase. 2. Except as otherwise provided in subsection 3, allowances or benefits increase once

each year on the first day of the month immediately following the anniversary of the

date the person began receiving the allowance or benefit, by the lesser of: (a) Two percent following the 3rd anniversary of the commencement of benefits, 3 percent

following the 6th anniversary of the commencement of benefits, 3.5 percent following

the 9th anniversary of the commencement of benefits, 4 percent following the 12th

anniversary of the commencement of benefits and 5 percent following the 14th anniversary

of the commencement of benefits; or (b) The average percentage of increase in the Consumer Price Index (All Items) for

the 3 preceding years, unless a different index is substituted by the Board. 3. In any event, the allowance or benefit of a member must be increased by the percentages

set forth in paragraph (a) of subsection 2 if the allowance or benefit of a member

has not increased at a rate greater than or equal to the average of the Consumer Price

Index (All Items), unless a different index is substituted by the Board, for the period

between the date of the member's retirement and the date specified in subsection 2. 4. The Board may use a different index for the calculation made pursuant to paragraph

(b) of subsection 2 if: (a) The substituted index is compiled and published by the United States Department

of Labor; and (b) The Board determines that the substituted index represents a more accurate measurement

of the cost of living for retired employees. 5. The base from which the increase provided by this section must be calculated is

the allowance or benefit in effect on the day before the increase becomes effective.