1A.280 - Withdrawal from Public Employees’ Retirement System to become member of Judicial Retirement Plan; transfer of liability and service; reestablishment of service prohibited; restriction on bene
1A.280 Withdrawal from Public Employees’ Retirement System to become member of Judicial Retirement Plan; transfer of liability and service; reestablishment of service prohibited; restriction on benefits.
1. A person who is elected or appointed as a justice of the Supreme Court or district judge on or after November 5, 2002, and takes office on or after January 1, 2003, and who is a member of the Public Employees’ Retirement System established pursuant to chapter 286 of NRS on the date that he or she is elected or appointed may withdraw from the Public Employees’ Retirement System and become a member of the Judicial Retirement Plan if the justice or judge gives written notice to the Board of his or her intention to withdraw from the Public Employees’ Retirement System and to become a member of the Judicial Retirement Plan. Such notice must be given to the Board within the time set forth in subsection 3 and must be given the first time that the justice or judge is elected or appointed while he or she is a member of the Public Employees’ Retirement System.
2. A justice or judge may not become a member of the Judicial Retirement Plan pursuant to subsection 1 if the justice or judge has previously been elected or appointed on or after November 5, 2002, and taken office on or after January 1, 2003, while the justice or judge was a member of the Public Employees’ Retirement System and the justice or judge did not give notice of his or her intention to withdraw from the Public Employees’ Retirement System and to become a member of the Judicial Retirement Plan in the manner set forth in this section.
3. Written notice given pursuant to subsection 1 must be received by the Board:
(a) If the justice or judge is elected, by March 31 of the year immediately following the year in which he or she was elected; or
(b) If the justice or judge is appointed, within 90 days after his or her appointment.
4. If the Board receives notice pursuant to this section that a justice or judge intends to withdraw from the Public Employees’ Retirement System, it shall transfer from the Public Employees’ Retirement Fund to the Judicial Retirement Plan the accrued actuarial liability and credit for service earned by the justice or judge while a member of the Public Employees’ Retirement System as determined by an actuary of the Judicial Retirement System. The service so transferred must be accredited under the Judicial Retirement Plan as if performed in the Public Employees’ Retirement System.
5. If the Board does not receive written notice that a justice or judge intends to withdraw from the Public Employees’ Retirement System pursuant to subsection 3, the justice or judge will remain a member of the Public Employees’ Retirement System.
6. A justice or judge who exercises the option granted by this section may not reestablish the service for which the liabilities were transferred.
7. No justice of the Supreme Court or district judge or survivor of a justice of the Supreme Court or district judge may receive benefits under both this chapter and chapter 286 of NRS.
8. A justice of the Supreme Court or district judge or survivor of a justice of the Supreme Court or district judge who is receiving a retirement allowance from the Public Employees’ Retirement System on January 1, 2003, is not eligible for transfer to the Judicial Retirement Plan.
(Added to NRS by 2001 Special Session, 73; A 2005, 1068)