Contribution Plans
Employer Pay Contribution Plan (ERPaid)
If you are a school teacher or an employee of a large, local government employer, it is likely that you are contributing under ERPaid. You might also be contributing under ERPaid if you work for the State of Nevada or another employer whereby you voluntarily chose to participate under ERPaid. Such contributions are not deposited to your individual member account and are not available for refund upon termination of employment. The ERPaid contribution rate for regular members is currently 19.75%, and will be increasing to 20.50% effective July 16, 2007.
Employee-Employer Contribution Plan
Employees of the State of Nevada and many of the smaller employers have the option to contribute under this plan. You and your employer share equally in the contribution to PERS, currently 10.50% each. Your after tax contribution is refundable upon termination of employment, if you do not elect to receive a monthly retirement benefit. If you are unsure of which plan you are contributing under, contact your employer or the Retirement System.