Nevada § 286.578 - Postretirement increases: Increases payable July 1, 1979, and July 1, 1980

§ 286.578. Postretirement increases: Increases payable July 1, 1979, and July 1, 1980

1. In addition to other postretirement allowances or benefits provided by law, and

subject to the limitation provided in subsection 3, the Public Employees' Retirement

System shall provide a postretirement increase to each eligible person, based upon: (a) The number of years the person has received a retirement allowance or in the case

of a beneficiary of a retired employee, the number of years an allowance or benefits

have been received since the retired employee's effective date of retirement; and (b) The amount of the person’s cumulative allowance or benefit computed as of the

dates on which these increases are payable. 2. The increases provided in subsection 1 are payable on July 1, 1979, and July 1,

1980, as follows: Number of Years Receiving Increase in Cumulative Allowance or Benefit Allowance or Benefit 5 years or more․․․․․․․․․․․․․․․․․․․․․․․․․․․․․․․․․․․․․․․․․․․․ 5.0 percent 4 years․․․․․․․․․․․․․․․․․․․․․․․․․․․․․․․․․․․․․․․․․․․․․․․․․․․․ 4.5 percent 3 years․․․․․․․․․․․․․․․․․․․․․․․․․․․․․․․․․․․․․․․․․․․․․․․․․․․․ 4.0 percent 2 years․․․․․․․․․․․․․․․․․․․․․․․․․․․․․․․․․․․․․․․․․․․․․․․․․․․․ 3.5 percent 1 year․․․․․․․․․․․․․․․․․․․․․․․․․․․․․․․․․․․․․․․․․․․․․․․․․․․․․ 3.0 percent 3. These percentage increases are payable only if they do not exceed the percentage

increase in the “All Items Consumer Price Index” for the preceding calendar year.

If the percentage increase in the index for the preceding year is less than any percentage

increase described in subsection 2, the latter increase must be reduced to the former.