A bill that would significantly change the Nevada Public Employees' Retirement System is being sent to another Assembly committee for further review of its financial impact.
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The Assembly Government Affairs committee voted Wednesday to send Assembly Bill 190 to the Ways and Means Committee without endorsing the bill.
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The measure is sponsored by Reno Republican Assemblyman Randy Kirner and would add a defined contribution option that would limit pension payouts based on how much money public employees contribute. The existing plan promises employees a specific payout upon retirement.
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The bill aims to tackle a multibillion-dollar unfunded liability in the system.
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PERS chief Tina Leiss raised a laundry list of concerns about the bill. The system estimates it would cost $800 million each year to implement, although Kirner disputes that number. (AP)
To read more about bills in this session, click here.
