NRS 286.430 Withdrawal of contributions.

325 words·~1 min read·/nv/chapter-286-public-employees-retirement/286-430·

A research copy — for the controlling text, always check the official state or federal source. Not legal advice.

1. Except as otherwise provided in subsection 8 and NRS 286.300 , a member may withdraw the employee contributions credited to the member’s individual account if:

(a)The member has terminated service for which contribution is required; or

(b)The member is employed in a position for which contribution is prohibited.

2. The System shall not refund these contributions until it has received:

(a)A properly completed application for refund;

(b)A notice of termination from the member’s public employer or a certification by the public employer that the member is employed in a position for which contribution is prohibited; and

(c)Except as otherwise provided in subsection 3, all contributions withheld from such member’s compensation.

3. If a member submits an application for a refund of the member’s contributions before all of the member’s contributions which were withheld have been remitted, the System may refund the portion of the member’s contributions which it has received.

4. If it is determined, after the System has refunded the contributions of a member, that an additional amount of less than $10 is due to the member, a refund of that amount need not be paid.

5. Refunds, pursuant to this section, must be made by check mailed to the address specified by a member in the member’s application for refund.

6. The System shall transfer all money retained pursuant to subsection 4 and the amount of any unclaimed refund checks to the Public Employees’ Retirement Fund or the Police and Firefighters’ Retirement Fund.

7. All membership rights and active service credit in the System, including service for which the public employer paid the employee contributions, are cancelled upon the withdrawal of contributions from a member’s account.

8. A member who transfers to a position for which contribution is prohibited must remain in that position for at least 90 days before the member is eligible to receive a refund pursuant to this section.