Retirement Planning
PERS-Public Employees' Retirement System of Nevada
The Public Employees' Retirement System of Nevada (PERS) is a tax-qualified defined benefit plan created by the Legislature as an independent public agency to provide a reasonable base income to qualified employees who have been employed by a public employer and whose earning capacity has been removed or has been substantially reduced by age or disability. It was also created to make government employment attractive to qualified employees and to encourage them to remain in government service for such periods of time as to give employers and the people of the state the full benefit of the training and experience gained by the employees while employed in public service.
The PERS website offers answers to many questions employees may have about the benefits offered by this plan, as well as retirement benefit calculators. Employees may log into the website to check the value of their PERS benefits, learn more about purchasing service, and much more. http://www.nvpers.org
In an effort to help employees better understand the benefits provided by PERS, Washoe County provides several opportunities throughout the year for employees to learn more about PERS and the role it plays in retirement planning. For more information on these opportunities, please refer to Benefits Education Opportunities on the Continuing Education webpage or visit the Learning Center on the Washoe County Intranet.
Related Online Resources
PERS Member Enrollment (Non-Choice Agency)
PERS Member Change of Personal Information
PERS Member Survivor Beneficiary Designation
PERS Retiree Reemployment Notification (Non-PERS Eligible position)
Deferred Compensation
Washoe County's Deferred Compensation Programs are managed by The Hartford. Washoe County offers employees several options for making pre-tax contributions to retirement savings accounts.
457 Deferred Compensation Plan
The 457 Deferred Compensation Plan is available to all full-time employees immediately upon employment. Employees may enroll and change their contribution elections in this plan at any time.
401(a) Plan
The 401(a) Plan is available to employees after one (1) year of employment with the County. Upon reaching their one year anniversary, employees have 90 days in which to enroll in this planthis is the only opportunity an employee has to enroll in this plan, there is NO annual enrollment. Employees enrolling in the 401(a) select a percentage of their pay to be deposited, pre-tax, into the plan. Once an election is made to participate in the 401(a) it cannot be changed or stopped. Employees may take loans out against their contributions to this plan.
OBRA
The OBRA plan is offered to part-time, seasonal and temporary employees at Washoe County. The primary purpose of this Plan is to provide a retirement plan alternative to Social Security for all part-time, seasonal and temporary employees as set forth in the Omnibus Budget Reconciliation Act of 1990 ("OBRA"). This plan permits part-time, seasonal and temporary employees of Washoe County to defer a portion of their compensation to this savings plan so long as their employment status is active. Washoe County will automatically deduct 7.5% of these employees' gross salary and contribute it to the OBRA plan in lieu of social security coverage.
Account Access
If you are a participant in one of the Deferred Compensation Plans and would like additional information, please contact The Hartford at 800-255-2464 or (775) 826-1227. You may also log into the Hartford online at http://retire.hartfordlife.com to check your account balance, update account information, change investment elections, etc. Participants may also change their beneficiary designations at any time. To update your beneficiary designation, please complete the beneficiary designation form and return it to The Hartford.
The benefit information provided is subject to change. If there are any conflicts of benefit descriptions at any time, the plan document for that benefit will prevail.
Social Security
Washoe County employees do not contribute to, or earn credits for, Social Security benefits, nor does Washoe County make contributions to Social Security for its employees. However, as a County employee, your Social Security benefits may be affected because you receive a PERS pension. The Government Pension Offset (GPO) and the Windfall Elimination Provision (WEP) are the two Federal Government regulations that may reduce your Social Security benefit.
To learn more about Social Security benefits, please contact the Social Security Administration using their toll-free number 800-772-1213 or visit their website at www.ssa.gov
