NAC287.490. Subsidy for retired officer or employee: Calculation of amount of payment.

     1. Except as otherwise provided in subsection 2, the amount of the subsidy that must be paid by each public employer with which a retired officer or employee was employed is calculated in the manner set forth in NRS 287.046.

     2. Each public employer with which the retired officer or employee was employed shall pay an amount of the total subsidy for the retired officer or employee equal to the proportion that the service credit earned by the retired officer or employee with that public employer bears to the total service credit earned by the retired officer or employee with all public employers with which the retired officer or employee was employed. The amount of the total subsidy must be based on the cumulative total years and months of service by the retired officer or employer for all public employers with which the retired officer or employee was employed.

     (Added to NAC by Bd. of Pub. Employees’ Benefits Prog. by R154-03, 3-22-2004, eff. 7-1-2004; A by R126-07, 1-30-2008)