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