|Deferred Compensation Committee|
DEFERRED COMPENSATION COMMITTEE
The State of Nevada offers its employees and those of local governments a deferred compensation plan intended to supplement an employee’s retirement pension. The plan is administered by the Deferred Compensation Committee according to NRS 287.250 through NRS 287.530. The committee, whose members are appointed by the governor for four year terms, must include three members who are employed by state agencies whose payrolls are administered by the Department of Personnel, one member whose payroll is administered by an entity other than State Personnel, and one member who has retired from employment with the State of Nevada or the Nevada System of Higher Education.
The Committee is responsible for the creation of a management plan, selection of investment means, administration of the plan, logistics of payroll deductions, and approval (or not) of applications for early withdrawal of employee funds from the plan. The federal government defines the conditions under which deferred compensation can be withdrawn and the Committee responds to applications using those criteria. Conditions include: retirement, termination of employment, death, or extreme financial hardship.
Minutes 1984, 1989-1995 1 cu. ft.
Deferred Benefits Plan Administration 1987-1995 1 cu. ft.