NRS 286.555 Refund of portion of contributions to certain persons who became members on or after January 1, 2010.
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NRS 286.555 Refund of portion of contributions to certain persons who became members on or after January 1, 2010.
1. A person who becomes a member of the System on or after January 1, 2010, and whose monthly service retirement allowance is determined using an average compensation amount limited by the provisions of subsection 4 of NRS 286.551 is entitled to a refund from the person’s individual account of the difference between:
(a)The amount of the employee contribution pursuant to NRS 286.410 ; and
(b)The amount the employee contribution would have been had it been actuarially determined to account for the limits imposed by the provisions of subsection 4 of NRS 286.551 .
2. The System shall pay any amount to which a person is entitled pursuant to subsection 1 upon the final determination of the amount of the person’s benefit, but not later than 6 months after the effective date of the person’s retirement.