286.535 - Limitation on compensation used to determine retirement benefit. - Nevada Statutes

286.535  Limitation on compensation used to determine retirement benefit.  Notwithstanding any other provision of law, the amount of compensation used to determine the retirement benefit of a member of the System must not exceed:

      1.  For persons who first became members of the System before July 1, 1996, the limitation provided by section 401(a)(17) of the Internal Revenue Code (26 U.S.C. § 401(a)(17)), as that section existed on July 1, 1993.

      2.  For persons who first became members of the System on or after July 1, 1996, the limitation provided by section 401(a)(17) of the Internal Revenue Code (26 U.S.C. § 401(a)(17)), as that section existed on July 1, 1996.

      (Added to NRS by 1991, 2355; A 1995, 252)