AB 498*

This bill revises how contributions are calculated for public employees’ retirement in Nevada. It changes the employee contribution rate for state agencies to half of the normal cost, as determined by an actuary, for police officers and firefighters, and regular members. It also adjusts the employer contribution rate to match the total actuarially determined cost for those same groups. The bill also increases the contribution rate for the University of Nevada’s separate retirement program and makes corresponding appropriations to cover increased employer contributions to the Public Employees’ Retirement System.