286.435 - Repayment upon retroactive reinstatement. - Nevada Statutes

286.435  Repayment upon retroactive reinstatement.  Except as otherwise required as a result of NRS 286.537:

      1.  Any member whose employment is involuntarily terminated and who is thereafter reinstated retroactively to employment with a participating public employer by order of any administrative or judicial authority, or by the terms of any settlement agreement, shall pay to the System:

      (a) Any employee contributions which were refunded to the member;

      (b) Any service or disability allowance which was paid to the member;

      (c) All employee contributions which would have been made on the back pay awarded to the member; and

      (d) The interest on any amount due from the date on which:

             (1) The member received the money to be repaid pursuant to paragraph (a) or (b); and

             (2) Each contribution would have been made on the money due pursuant to paragraph (c),

Ê to the date of payment at the assumed investment income rate used in the most recent actuarial valuation of the System.

      2.  The employer shall deduct from any back pay awarded or granted to the member all money due pursuant to subsection 1 and forward this amount to the System. If the amount of back pay awarded or granted to the member is not sufficient to pay all of the money due pursuant to subsection 1, the member shall pay any balance due to the System under a reasonable plan for payment established by the System.

      3.  Upon receipt by the System of the full amount due pursuant to subsection 1, the member is entitled to all the membership rights and service credit which were cancelled by the member’s involuntary termination.

      (Added to NRS by 1983, 491; A 1989, 1562; 1991, 2360)