NRS 218C.170 Legislators’ Retirement Fund: Creation and purpose; sources; payments.
116 words·~1 min read·
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NRS 218C.170 Legislators’ Retirement Fund: Creation and purpose; sources; payments.
1. The Board shall establish a fund known as the Legislators’ Retirement Fund.
2. All money paid as individual and employer contributions, all money appropriated by the Legislature to the Fund and all income accruing to the Fund from all other sources must be deposited in the Legislators’ Retirement Fund.
3. The interest and income earned on the money in the Legislators’ Retirement Fund, after deducting applicable charges, must be credited to the Fund.
4. The System shall pay all retirement allowances, benefits, optional settlements, refunds and other obligations or payments payable by the Legislators’ Retirement System pursuant to this chapter from the Legislators’ Retirement Fund.