Financial health of Nev.’s pension fund improves
By Sean Whaley, Las Vegas Review-Journal
CARSON CITY — The financial health of Nevada’s public employee pension improved in fiscal year 2016, with the funded ratio increasing to 74.1 percent from 73.2 percent the prior year.
The actuarial valuation report for the Public Employees’ Retirement System (PERS) was reviewed and approved Thursday by the seven-member board that oversees the plan. The report was prepared by Segal Consulting, an independent actuary contracted by PERS to do the analysis.
The report recommends no changes to the contribution rates for the plan, which are split 50-50 between employers and employees. The contribution rates are currently set at 28 percent for regular state employees and 40.5 percent for police and firefighters.
