§ 353D.320 — Immunity of employer; employer not deemed fiduciary. [Effective July 1, 2025.]

Nevada § 353D.320

• Jurisdiction: Nevada
• Title 31: PUBLIC FINANCIAL ADMINISTRATION
• Ch. 353D: Nevada

Text

1. A covered employer or other employer may not be held liable for:
(a) An employee’s decision to participate in or opt out of the Program;
(b) A participant’s or the Board’s investment decisions;
(c) The administration, investment, investment returns or investment performance of the Program, including, without limitation, any interest rate or other rate of return on any contribution or account balance, provided the covered employer or other employer played no role;
(d) The design of the Program or the benefits paid to participants;
(e) A person’s awareness of or compliance with the conditions and other provisions of the Internal Revenue Code that determine which persons are eligible to make tax-favored contributions to Individual Retirement Accounts, in what amount and in what time frame and manner; or
(f) Any loss, failure to realize any gain or any other adverse consequences, including, without limitation, any adverse tax consequences or loss of favorable tax treatment, public assistance or other benefits, incurred by any person as a result of participating in the Program.
2. A covered employer or other employer must not be deemed to be a fiduciary in relation to the Program.

Legislative History

(Added to NRS by 2023, 2811 , effective July 1, 2025)