Nevada Revised Statutes 1A.655 – Payments to survivor beneficiary of deceased member killed in course of judicial service
1. Except as otherwise provided in subsection 2, the survivor beneficiary of a member of the Judicial Retirement Plan killed in the course of judicial service on or after July 1, 2013, is entitled to receive a monthly allowance equivalent to the greater of:
Terms Used In Nevada Revised Statutes 1A.655
- Beneficiary: A person who is entitled to receive the benefits or proceeds of a will, trust, insurance policy, retirement plan, annuity, or other contract. Source: OCC
- person: means a natural person, any form of business or social organization and any other nongovernmental legal entity including, but not limited to, a corporation, partnership, association, trust or unincorporated organization. See Nevada Revised Statutes 0.039
- Remainder: An interest in property that takes effect in the future at a specified time or after the occurrence of some event, such as the death of a life tenant.
(a) Fifty percent of the salary of the member on the date of the member’s death; or
(b) One hundred percent of the retirement allowance that the member was eligible to receive based on the member’s years of service obtained before the member’s death without any reduction for age for the deceased member.
2. If the member had designated one or more payees in addition to the survivor beneficiary pursuant to NRS 1A.620, the monthly allowance to which a survivor beneficiary is entitled pursuant to subsection 1 must be divided between the survivor beneficiary and any additional payees in the proportion designated by the member pursuant to NRS 1A.620.
3. The benefits provided by this section must be paid to the survivor beneficiary for the remainder of the beneficiary’s life.
4. The survivor beneficiary may elect to receive the benefits provided by any one of the following only:
(a) This section;
(b) NRS 1A.630;
(c) NRS 1A.640; or
(d) NRS 1A.650.
5. For the purposes of this section, the Board shall define by regulation ‘killed in the course of judicial service.’
6. As used in this section, ‘survivor beneficiary’ means a person designated pursuant to NRS 1A.620.