NRS287.041. Creation; composition; qualifications; terms; vacancies; removal.

      1.  There is hereby created the Board of the Public Employees’ Benefits Program. The Board consists of 10 members appointed as follows:

      (a) One member who is a professional employee of the Nevada System of Higher Education, appointed by the Governor upon consideration of any recommendations of organizations that represent employees of the Nevada System of Higher Education.

      (b) Two members who are retired from public employment, appointed by the Governor upon consideration of any recommendations of organizations that represent retired public employees.

      (c) Two members who are employees of the State, appointed by the Governor upon consideration of any recommendations of organizations that represent state employees.

      (d) One member appointed by the Governor upon consideration of any recommendations of organizations that represent employees of local governments that participate in the program.

      (e) One member who is employed by this State in a managerial capacity and has substantial and demonstrated experience in risk management, portfolio investment strategies or employee benefits programs appointed by the Governor. The Governor may appoint the Executive Officer of the Public Employees’ Retirement System to fill this position.

      (f) Two members who have substantial and demonstrated experience in risk management, portfolio investment strategies or employee benefits programs appointed by the Governor.

      (g) The Director of the Department of Administration or the designee of the Director.

      2.  Of the seven persons appointed to the Board pursuant to paragraphs (a) to (e), inclusive, of subsection 1, at least one member must have an advanced degree in business administration, economics, accounting, insurance, risk management or health care administration, and at least two members must have education or proven experience in the management of employees’ benefits, insurance, risk management, health care administration or business administration.

      3.  Each person appointed as a member of the Board must:

      (a) Except for a member appointed pursuant to paragraph (f) of subsection 1, have been a participant in the Program for at least 1 year before the person’s appointment;

      (b) Except for a member appointed pursuant to paragraph (f) of subsection 1, be a current employee of the State of Nevada or another public employer that participates in the Program or a retired public employee who is a participant in the Program;

      (c) Not be an elected officer of the State of Nevada or any of its political subdivisions; and

      (d) Not participate in any business enterprise or investment:

             (1) With any vendor or provider to the Program; or

             (2) In real or personal property if the Program owns or has a direct financial interest in that enterprise or property.

      4.  Except as otherwise provided in this subsection, after the initial terms, the term of an appointed member of the Board is 4 years and until the member’s successor is appointed and takes office unless the member no longer possesses the qualifications for appointment set forth in this section or is removed by the Governor. If a member loses the requisite qualifications within the last 12 months of the member’s term, the member may serve the remainder of the member’s term. Members are eligible for reappointment. A vacancy occurring in the membership of the Board must be filled in the same manner as the original appointment.

      5.  The appointed members of the Board serve at the pleasure of the Governor. If the Governor wishes to remove a member from the Board for any reason other than malfeasance or misdemeanor, the Governor shall provide the member with written notice which states the reason for and the effective date of the removal.

      (Added to NRS by 1963, 1319; A 1967, 1580; 1977, 147; 1991, 658; 1999, 3028, 3043; 2001, 216; 2003, 3274; 2007, 3144; 2013, 2264)