Nevada Revised Statutes 287.0436 – Creation; purpose
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1. The State Retirees’ Health and Welfare Benefits Fund is hereby created as an irrevocable trust fund.
Terms Used In Nevada Revised Statutes 287.0436
- Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
- Irrevocable trust: A trust arrangement that cannot be revoked, rescinded, or repealed by the grantor.
2. The purpose of the Retirees’ Fund is to account for the financial assets designated to offset the portion of the current and future costs of health and welfare benefits paid pursuant to subsection 2 of NRS 287.046.