Average compensation
the average of your 36 highest consecutive months of reported compensation.
Summary Plan Description (REV 8/25), p. 4More on this →Benefit multiplier
the percentage of average compensation you earn for each year of service. Enrolled before January 1, 2010: 2.5% for years before July 1, 2001 and 2.67% after. Enrolled January 1, 2010 to June 30, 2015: 2.5%. Enrolled on or after July 1, 2015: 2.25%.
Summary Plan Description (REV 8/25), p. 4 (Benefit Multiplier row), p. 5 (note); Official Policies (2024), pp. 53-54, Policy 10.5 ('or fraction thereof for partial years'); NRS 286.551(1)(a), (c), (d)More on this →CPI cap
the 3-year average of consumer price inflation (CPI-U) that limits each post-retirement increase, unless your benefit has fallen behind inflation since you retired.
Official Policies (2024), p. 66, Policies 10.37-10.39, 10.41; Nevada PERS News Vol. 1 2025, p. 3; NRS 286.5756(2)(b), (3)More on this →Critical labor shortage (CLS) position
a position designated by the employer's governing body (for schools, the board of trustees), for up to 2 years, in which certain retirees can work without suspension.
NRS 286.523(4), (7); Official Policies (2024), p. 3, Policy 1.11More on this →Early retirement reduction
the permanent cut for each full year and extra month you retire before the unreduced age that matches your service: 4% a year and 0.33% a month if you enrolled before 2010, 6% and 0.5% if later.
Summary Plan Description (REV 8/25), p. 8; NRS 286.510(6)(a)-(b)More on this →Earnings limit
the most a retiree can earn in a fiscal year (July to June) in a Nevada public job that isn't eligible for Nevada PERS membership without the benefit being suspended: 50% of the average Regular member salary.
NRS 286.520(1)(b), (2), (3); Official Policies (2024), p. 61, Policy 10.27; Pre-Retirement Guide (REV 1/25), p. 11More on this →Effective date of membership
the date your Nevada PERS membership began. It decides your multiplier, retirement ages, reduction and post-retirement increases.
NRS 286.510(1), 286.551(1)More on this →Employee/Employer plan
you and your employer each pay half. Your after-tax contributions are refundable if you leave without taking a benefit.
Summary Plan Description (REV 8/25), p. 2More on this →Employer Pay Contribution plan (EPC)
your employer pays the whole contribution and your share comes out of your pay through a salary reduction or a raise you forgo. Nothing is refundable.
Summary Plan Description (REV 8/25), pp. 1-2More on this →Family medical emergency
the exception that lets members enrolled on or after July 1, 2015 count bought service toward retirement eligibility, when they must retire to care for an immediate family member with a serious health condition. The Retirement Board decides.
Official Policies revisions eff. Apr. 15, 2026 (memo of Mar. 26, 2026, attachment PDF p. 3, Policy 6.2(c))More on this →Option 2
a reduced benefit for your life, with the same amount continuing for your beneficiary's life after you die. Option 3 is the same but continues 50%.
Summary Plan Description (REV 8/25), p. 6More on this →PEBP
the state's Public Employees' Benefits Program, which offers retiree health coverage to retirees whose last employer takes part in it with its active employees.
PEBP Plan Year 2027 Benefit Guide (in 'Instructions for Retiring Before Age 65' packet, edited 1/2026), PDF p. 27 (printed p. 23), Retiree Eligibility; PDF p. 34 (printed p. 30), Retiree Enrollment; PDF p. 29, Retiree EligibilityMore on this →Post-retirement increase
Nevada PERS's yearly raise to retirement and survivor benefits, starting in the fourth year.
Pre-Retirement Guide (REV 1/25), p. 14; Official Policies (2024), p. 50, Policy 9.18More on this →Service credit
years, months and days actually worked, as reported monthly by your employer. Leave without pay earns none.
Summary Plan Description (REV 8/25), p. 2More on this →Survivor beneficiary
the one person an unmarried member names to receive a lifetime survivor benefit if the member dies before retirement.
Summary Plan Description (REV 8/25), pp. 9-10; NRS 286.6767More on this →Unmodified Allowance (Option 1)
the maximum lifetime benefit, with nothing for a beneficiary.
Summary Plan Description (REV 8/25), p. 6More on this →Unreduced retirement
retiring with the age and service your group needs (for example 10 years at age 60 if you enrolled before 2010), so there is no early retirement reduction.
Summary Plan Description (REV 8/25), p. 4, Benefit Eligibility Requirements; Official Policies (2024), p. 52, Policy 10.1More on this →Vesting
having the five years of service that give you the right to a monthly benefit later, even if you leave.
Summary Plan Description (REV 8/25), p. 3, Service Retirement VestingMore on this →Source: Nevada PERS Summary Plan Description for Regular Members, REV 8/25 (law through the 2025 Legislature), pp. 1-6, 8-10. Also: Nevada PERS Official Policies (eff. Sept. 1, 2024) pp. 3, 50, 52-54, 61, 66; Nevada PERS News (2025); Nevada PERS Pre-Retirement Guide (REV 1/25) pp. 11, 14; Nevada PERS Official Policies revisions eff. Apr. 15, 2026; PEBP retiree publications (Plan Year 2027); NRS §§ 286.510, 286.520, 286.523, 286.551, 286.5756, 286.6767. Last reviewed .