1. The Board, subject to the limitations of this chapter, is responsible for managing the System.
2. The Board shall:
(a) Arrange for a biennial actuarial valuation and report of the actuarial soundness of the System to be prepared by an independent actuary based upon data compiled and supplied by employees of the System, and shall adopt actuarial tables and formulas prepared and recommended by the actuary;
(b) Provide for a biennial audit of the System, including, without limitation, the Judicial Retirement Administrative Fund, by an independent certified public accountant; and
(c) Provide an annual report concerning the System established pursuant to this chapter to the Court Administrator, each board of county commissioners that allows justices of the peace to participate in the Judicial Retirement Plan pursuant to NRS 1A.285, each city council that allows municipal judges to participate in the Judicial Retirement Plan pursuant to NRS 1A.285, the Governor and each member of the Legislature, and make the report available to all members of the System upon request. The report must contain, when available, a review of the actuarial valuation required by paragraph (a).
3. The Board may:
(a) Adjust the service or correct the records, allowance or benefits of any member of the System, retired justice or judge or beneficiary after an error or inequity has been determined, and require repayment of any money determined to have been paid by the System in error, if the money was paid within 6 years before demand for its repayment.
(b) Examine and copy personnel and financial records of:
(1) A justice of the Supreme Court, judge of the Court of Appeals or district judge that are maintained by the Court Administrator;
(2) A justice of the peace who participates in the Judicial Retirement Plan pursuant to NRS 1A.285 that are maintained by a county; and
(3) A municipal judge who participates in the Judicial Retirement Plan pursuant to NRS 1A.285 that are maintained by a city.
(c) Require an annual notarized statement from a retired justice or judge or beneficiary that he or she is in fact receiving an allowance or benefits, and withhold the allowance or benefits if he or she fails to provide the statement.
4. As used in this section, "error or inequity" means the existence of extenuating circumstances, including, without limitation, a member’s reasonable and detrimental reliance on representations made by the System which prove to be erroneous, or the mental incapacity of the member.
(Added to NRS by 2001 Special Session, 71; A 2005, 993; 2013, 1717)
Structure Nevada Revised Statutes
Chapter 1A - Judicial Retirement
NRS 1A.030 - "Compensation" defined.
NRS 1A.040 - "Disability retirement allowance" defined.
NRS 1A.050 - "Judicial Retirement Plan" defined.
NRS 1A.060 - "Retired justice or judge" defined.
NRS 1A.070 - "Service" defined.
NRS 1A.080 - "Service retirement allowance" defined.
NRS 1A.090 - "System" defined.
NRS 1A.110 - Limitations on review and copying of records; waiver.
NRS 1A.150 - False statement or certification; withholding of information.
NRS 1A.160 - Judicial Retirement Fund: Establishment; policy; sources; payments.
NRS 1A.170 - Administration and investment of Judicial Retirement Fund.
NRS 1A.200 - Judicial Retirement Administrative Fund; administrative fees.
NRS 1A.230 - Actuarial assumptions used in computing benefits: Availability; changes prohibited.
NRS 1A.240 - Persons receiving benefits from System entitled to cost-of-living increases.
NRS 1A.250 - Administration of accounts of members and recipients of benefits.
NRS 1A.260 - Conditions for membership in System.
NRS 1A.290 - Termination of membership; rights of justices or judges who have retired.
NRS 1A.300 - Establishment; members; benefits.
NRS 1A.310 - Purchase of credit for service: Requirements; sources; installments.
NRS 1A.312 - Contributions to Judicial Retirement Fund; adjustment of contribution rate.
NRS 1A.320 - Service credit: Commencement; termination.
NRS 1A.330 - Service credited in another system ineligible; exception.
NRS 1A.340 - Time of vesting; vesting of benefits upon termination of System.
NRS 1A.350 - Eligibility: Age and service; reduction of benefit for retirement before required age.
NRS 1A.390 - Limitation on distributions to members.
NRS 1A.400 - Limitation on compensation used to determine retirement benefit.
NRS 1A.410 - Limitations on benefits and contributions.
NRS 1A.420 - Prohibition against applying forfeitures to increase benefits.
NRS 1A.430 - Consent of spouse to retirement plan of member.
NRS 1A.440 - Determination of monthly allowance for service retirement.
NRS 1A.450 - Optional plans: Alternatives to unmodified allowance for service retirement.
NRS 1A.490 - Disability retirement allowance: Applicability of certain provisions.
NRS 1A.500 - Disability retirement allowance: Cancellation.
NRS 1A.510 - Disability retirement allowance: Consequences of employment of recipient.
NRS 1A.550 - "Dependent parent" defined.
NRS 1A.555 - "Domestic partner" defined.
NRS 1A.560 - "Spouse" defined.
NRS 1A.580 - Payments to child of deceased member.
NRS 1A.590 - Payments to spouse of deceased member.
NRS 1A.600 - Payments to spouse of deceased member who had 10 or more years of creditable service.
NRS 1A.610 - Payments to spouse if deceased member was eligible to retire.
NRS 1A.615 - Payments to spouse of deceased member killed in course of judicial service.
NRS 1A.620 - Designation of survivor beneficiary and additional payees by member.
NRS 1A.660 - Payments to dependent parents; conditions.
NRS 1A.670 - Limitation on and reduction of amount of monthly allowance.