1A.340 - Time of vesting; vesting of benefits upon termination of System. - Nevada Statutes

1A.340  Time of vesting; vesting of benefits upon termination of System.

      1.  The retirement allowance for a member of the Judicial Retirement Plan becomes vested on the date that the member completes 5 years of creditable service.

      2.  Benefits for survivors offered pursuant to this chapter become vested on the date that the member of the Judicial Retirement Plan completes 10 years of creditable service or becomes entitled to begin receiving benefits or on the date of the member’s death, whichever event occurs first.

      3.  Unless otherwise specifically provided by law, any change in the provisions of this chapter is retroactive for all service of any member of the Judicial Retirement Plan before the date of vesting, but no change may impair any vested allowance or benefit.

      4.  Upon the termination or partial termination of the System, all accrued benefits that are funded become 100 percent vested and nonforfeitable.

      (Added to NRS by 2001 Special Session, 87)