287.440 - Governing body may appoint committee to administer program; powers of committee. - Nevada Statutes

287.440  Governing body may appoint committee to administer program; powers of committee.

      1.  The governing body of a political subdivision may appoint a committee to which it may delegate the responsibility for administering the program for its employees, including:

      (a) Collection of deferred compensation;

      (b) Transmittal of money collected to depositories within the State; and

      (c) Payment of deferred compensation to participating employees.

      2.  The committee may contract with a private person, corporation, institution or other entity, directly or through an agency of the political subdivision, for services necessary to the administration of the plan, including without limitation:

      (a) Consolidated billing;

      (b) Recordkeeping for each participating employee and the program;

      (c) Purchase, control and safeguarding of assets;

      (d) Communication with its employees; and

      (e) Administration and coordination of the program.

      (Added to NRS by 1979, 799)