1. There is hereby created an Interim Retirement and Benefits Committee of the Legislature to:
(a) Review the operation of the Public Employees’ Retirement System, the Judicial Retirement System established pursuant to chapter 1A of NRS and the Public Employees’ Benefits Program; and
(b) Make recommendations to the Public Employees’ Retirement Board and the Board of the Public Employees’ Benefits Program, the Legislative Commission and the Legislature.
2. The Interim Retirement and Benefits Committee consists of six members appointed as follows:
(a) Three members of the Senate, one of whom is the Chair of the Committee on Finance during the preceding regular session and two of whom are appointed by the Majority Leader of the Senate.
(b) Three members of the Assembly, one of whom is the Chair of the Committee on Ways and Means during the preceding regular session and two of whom are appointed by the Speaker of the Assembly.
3. The Legislative Commission shall review and approve the budget and work program for the Committee and any changes to the budget or work program.
4. The immediate past Chair of the Senate Standing Committee on Finance is the Chair of the Interim Retirement and Benefits Committee for the period ending with the convening of each odd-numbered regular session. The immediate past Chair of the Assembly Standing Committee on Ways and Means is the Chair of the Interim Retirement and Benefits Committee during the next legislative interim, and the position of Chair alternates between the Houses according to this pattern.
5. The Interim Retirement and Benefits Committee may exercise the powers conferred on it by law only when the Legislature is not in a regular or special session and shall meet at the call of the Chair.
6. The Interim Retirement and Benefits Committee may conduct investigations and hold hearings in connection with its functions and duties and exercise any of the investigative powers set forth in NRS 218E.105 to 218E.140, inclusive.
7. The Director shall provide a Secretary for the Interim Retirement and Benefits Committee.
8. For each day or portion of a day during which members of the Interim Retirement and Benefits Committee attend a meeting of the Interim Retirement and Benefits Committee or are otherwise engaged in the business of the Interim Retirement and Benefits Committee, the members are entitled to receive:
(a) The compensation provided for a majority of the Legislators during the first 60 days of the preceding regular session;
(b) The per diem allowance provided for state officers and employees generally; and
(c) The travel expenses provided pursuant to NRS 218A.655.
9. All such compensation, per diem allowances and travel expenses must be paid from the Legislative Fund.
(Added to NRS by 1999, 3039; A 2001 Special Session, 94; 2009, 1151; 2011, 3221, 3670; 2013, 3747)