Fund to pay accrued benefits that are not payable because of certain limitations; benefits paid from employer contributions.
Nev. Rev. Stat. § 286.241
in effect1. The Board may establish a fund to pay the accrued benefits of a member that are not payable because of the limitations set forth in NRS 286.537 . The fund must be established in accordance with the provisions of section 415(m) of the Internal Revenue Code (26 U.S.C. § 415(m)) and must be separate from the Public Employees Retirement Fund.
2. If the Board establishes a fund pursuant to subsection 1, the benefits that are required to be paid from the fund must be paid from a portion of the employer contributions required to be paid pursuant to NRS 286.450 . The Board shall:
(a) Determine the amount of the employer contributions that must be allocated to the fund; and
(b) Deposit that amount in the fund before it deposits any remaining employer contributions in the Public Employees Retirement Fund.
Source: NV Statutes (Official Site)URL: https://www.leg.state.nv.us/nrs/NRS-286.htmlFetched: 10/4/2026