Nevada Revised Statutes 286.015 – Declaration of state policy; purpose of chapter
1. It is the policy of this State to provide, through the Public Employees’ Retirement System:
Terms Used In Nevada Revised Statutes 286.015
- Equitable: Pertaining to civil suits in "equity" rather than in "law." In English legal history, the courts of "law" could order the payment of damages and could afford no other remedy. See damages. A separate court of "equity" could order someone to do something or to cease to do something. See, e.g., injunction. In American jurisprudence, the federal courts have both legal and equitable power, but the distinction is still an important one. For example, a trial by jury is normally available in "law" cases but not in "equity" cases. Source: U.S. Courts
(a) 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.
(b) An orderly method of promoting and maintaining a high level of service to the public through an equitable separation procedure, which is available to employees at retirement or upon becoming disabled.
(c) A system which will make government employment attractive to qualified employees in various categories of service and which will encourage these employees to remain in government service for such periods of time as to give the public employer full benefit of the training and experience gained by these employees while employed by public employers.
2. It is the purpose of this chapter to make suitable provision for the accomplishment of the policy stated in subsection 1. The Board shall define the intermediate objectives and operating guidelines it considers necessary to produce the maximum in economy, efficiency and effectiveness within the System.