Nevada Statutes

§ 287.420 — Employer may agree with employee to defer compensation; investment of withheld money

Nevada § 287.420

JurisdictionNevada

Title 23PUBLIC OFFICERS AND EMPLOYEES

Ch. 287Programs

DEFERRED COMPENSATION FOR EMPLOYEES OF POLITICAL SUBDIVISIONS

This text of Nevada § 287.420 (Employer may agree with employee to defer compensation; investment of withheld money) is published on Counsel Stack Legal Research, covering Nevada primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Nev. Rev. Stat. § 287.420 (2026).

Text

1.A political subdivision may agree with any of its employees to defer the compensation due to them in accordance with a program approved by the committee which may consist of one or more plans authorized by 26 U.S.C. § 401(a) or 457. An employee may defer compensation under one or more plans in the program.

2.The political subdivision shall withhold the amount of compensation which an employee has, by such an agreement, directed the political subdivision to defer.

3.The political subdivision may invest the withheld money in any investment permitted by law and approved by the committee.

4.The investments must be underwritten and offered in compliance with all applicable federal and state laws and regulations, and may be offered only by persons who are authorized and licensed under all

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1. A political subdivision may agree with any of its employees to defer the compensation due to them in accordance with a program approved by the committee which may consist of one or more plans authorized by 26 U.S.C. § 401(a) or 457. An employee may defer compensation under one or more plans in the program.
2. The political subdivision shall withhold the amount of compensation which an employee has, by such an agreement, directed the political subdivision to defer.
3. The political subdivision may invest the withheld money in any investment permitted by law and approved by the committee.
4. The investments must be underwritten and offered in compliance with all applicable federal and state laws and regulations, and may be offered only by persons who are authorized and licensed under all applicable state and federal regulations.

Related

26 U.S.C. § 401

Legislative History

(Added to NRS by 1979, 799 ; A 2001, 1005 )

Nearby Sections

15

§ 287.005

Inapplicability of certain provisions enacted after January 1, 2011, to certain nonprofit entities

§ 287.007

Inapplicability of chapter regarding matters within scope of collective bargaining agreements

§ 287.010

Local governmental agency may adopt system of group insurance; payment of costs of premiums or contributions; provision of group insurance to members of board of trustees of school district and to officers and employees of legal services organization

§ 287.012

Local governmental agency may use list of preferred prescription drugs developed by Department of Health and Human Services and obtain prescription drugs through certain purchasing agreements

§ 287.015

Trust fund to provide health and welfare benefits: Establishment; contributions; administration

§ 287.017

Trust fund for future retirement benefits of local governmental employees and their spouses and dependents

§ 287.020

Local governmental agency may adopt system of medical and hospital service; payment of part of dues for membership; coverage of members of board of trustees of school district

§ 287.0205

Reinstatement of insurance by retired public officer or employee or surviving spouse

§ 287.021

Option of surviving spouse or child of police officer or firefighter killed in line of duty to accept or continue coverage for group insurance, plan of benefits or medical and hospital service; notification; payment of costs for coverage; duration of eligibility

§ 287.023

Option of retired officer or employee or dependent to cancel or continue group insurance, plan of benefits, medical and hospital service or coverage under Public Employees’ Benefits Program; notice of selection of option; payment of costs for coverage

§ 287.024

Option of former member of board of trustees of school district to cancel or continue coverage for group insurance, plan of benefits or medical and hospital service; payment of costs for coverage; notice of selection of option

§ 287.025

Local governmental agency may contract with Public Employees’ Benefits Program or other local governmental agency or participate as member of nonprofit cooperative association or corporation for group insurance, related medical services or health-related information

§ 287.027

Coverage for colorectal cancer screening required to be provided by local governmental agency that provides health insurance through plan of self-insurance

§ 287.0271

Coverage for drugs, laboratory testing and certain services related to human immunodeficiency virus required to be provided by local governmental agency that provides health insurance through plan of self-insurance; reimbursement of pharmacist for certain services

§ 287.0272

Coverage for human papillomavirus vaccination required to be provided by local governmental agency that provides health insurance through plan of self-insurance

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Bluebook (online)

Nevada § 287.420, Counsel Stack Legal Research, https://law.counselstack.com/statute/nv/287.420.