21-166 21-166 . . . Retirement Benefits Plan under which trustees and officers with 15 or more years of service receive annual retirement benefit based on percentage of average annual compensation for 36 months of service immediately preceding retirement. The amount of annual benefit ranges from 25% of such average annual compensation for 15 years of service to 75% for 25 or more years of service
Nevada Retirement Benefits Plan
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US-CC-21-166
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FAQ
If you contribute under the employee/ employer contribution plan, you may withdraw your employee contributions if you terminate all employment for which a contribution is required or if you are employed in a position ineligible for membership for at least 90 days.
The first step is to contact PERS and request a payoff amount. PERS will calculate the payoff amount, including interest, and provide the amount to you in writing. You will have several options for paying off the balance due; lump-sum payment or with a direct rollover.
Vesting refers to the time period necessary for you to work in order to earn the right to receive a retirement benefit. For example, once you have attained 5 years of service we consider you "vested" in the system and eligible to receive retirement benefits at age 65.
Yes, you can collect Social Security and PERS benefits at the same time in Nevada. However, it is important to note that the amount of Social Security benefits you receive may be affected by the Windfall Elimination Provision (WEP) and the Government Pension Offset (GPO).
Benefits are paid to you for life and, after your death, to the one person named as your beneficiary on the retirement application. It is not mandatory to name a beneficiary. Prospective retirees may elect one of seven retirement plans.
Eligibility for Monthly Un-reduced Retirement Benefit (Regular Members) Regular Members Years of ServiceRegular Members Age of Retirement5 yrs6510 yrs6020 yrs5030 yrsAny Age
The employee and the employer each make a contribution to PERS. The contribution made by you is on an after-tax basis. The employee contribution to PERS under this plan is 17.5% and the employer contribution is 17.5%. For Police/Fire Members, the employee/employer contribution is 25.75% each.
