Committee rejects bill to restructure public employee retirement board

By Cy Ryan

Wednesday, Feb. 25, 2015 | 12:06 p.m.

CARSON CITY — The Assembly Government Affairs Committee today rejected a bill to change the governing board of the state Public Employees’ Retirement System. The bill was strongly opposed by government workers.

Only two members of the 14-member committee voted in favor of AB3, which would have put two non-government members with pension experience on the seven-member board. The existing board is made up entirely of public employees.

Opponents of the bill said the system works and changing the makeup of the board would open the door to major changes in the system.

Marty Bibb, executive director of Retired Public Employees of Nevada, called the bill a “poor idea” and said a 2013 study found the Nevada pension system was one of the best in its category.

An estimated 100,000 state and local government employees contribute to the plan, and 55,000 receive benefits.

Assemblyman Randy Kirner, R-Reno, the sponsor of the bill, said he was surprised by the outpouring of opposition to the measure.

Kirner has also introduced a bill to provide an alternative pension system for government workers hired after the summer of 2016. He said it is similar in some ways to a 401 (k) plan.