Leaving Nevada PERS: refund or wait?

• You earn the right to a monthly retirement allowance after five years of service (members enrolled on or after July 1, 1989).Summary Plan Description (REV 8/25), p. 3, Service Retirement Vesting; NRS 286.6793
• School district employees who work less than 12 months a year get a full year of service for at least 900 hours over at least 8 calendar months in a school year. Less is credited at 1 1/3 days for each day worked, and a full year is not credited until the 12-month period ends.Official Policies revisions eff. Apr. 15, 2026 (memo of Mar. 26, 2026, attachment PDF pp. 2-3, Policy 5.6); NRS 286.501
• Under the Employee/Employer plan you may withdraw your employee contributions after you leave all covered employment, or after 90 days in a position not eligible for membership. A refund cancels all your service credit and membership rights.Summary Plan Description (REV 8/25), p. 3, Refund of Contributions; NRS 286.430
• Under the Employer-Pay plan, which covers most local government employees, you do not build refundable contributions.Summary Plan Description (REV 8/25), pp. 1-2, Employer Pay Contribution Plan
• If you come back and work at least six months, you can repay a refund with interest, in a lump sum or monthly installments, to restore your service and membership date. You must finish repaying before you retire.Summary Plan Description (REV 8/25), p. 3; Pre-Retirement Guide (REV 1/25), p. 3
• With 5 or more years, you can leave your contributions in Nevada PERS and take a monthly benefit later, at any age (reduced if early).Summary Plan Description (REV 8/25), pp. 3, 8; NRS 286.510(6)

Refunds

Under the Employee/Employer plan you may withdraw your employee contributions if you end all employment requiring contributions, or after at least 90 days in a position ineligible for membership. A refund cancels all membership rights, including service earned under EPC. Under EPC you do not accrue refundable contributions. Summary Plan Description (REV 8/25), p. 3, Refund of Contributions; p. 2, Employer Pay Contribution Plan

Our arithmetic on the rates from 2025. The sources describe refunds of employee contributions only; none mentions interest paid on a refund. Nevada PERS memo, Retirement Contribution Rates beginning July 1, 2025 (Dec. 2, 2024), pp. 1-2; Nevada PERS News Volume I - 2025

Repaying a refund

If you return and have active membership for at least six months, you may repay the refund plus interest at the actuarially determined rate (lump sum or monthly installments) to restore the service and membership rights. Service is restored only when paid in full, and repayment must be completed before retirement. Summary Plan Description (REV 8/25), p. 3, Repayment of Refunded Contributions; Pre-Retirement Guide (REV 1/25), p. 3; Official Policies (2024), pp. 36-37, Policies 7.9, 7.17

Waiting for a pension

Members enrolled on or after July 1, 1989 earn the right to a retirement allowance after five years of service. Summary Plan Description (REV 8/25), p. 3, Service Retirement Vesting The benefit is figured the same way as for any retiree (see the formula), on the service you had when you left. You can start it early, with the early retirement cut, or wait for your unreduced age.

For a rough figure, use the calculator: enter the years you'll have when you leave, the date you'd start the benefit, and tick "The years above are what I'll have on my retirement date". Its work-longer bars and every-age table assume you keep working, so they won't apply.

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