FY2016 CCDOA Financial Report as of 6302016.pdf - page 72

Notes to Financial Statements
For the Fiscal Years Ended June 30, 2016 and 2015
(a) Pension Plan
The Department contributes through the County to the State of Nevada Public Employees’ Retirement
System ("System"). The System was established on July 1, 1948, by the Legislature and is governed by the
Public Employees’ Retirement Board, whose seven members are appointed by the Governor. All public
employees who meet certain eligibility requirements participate in the System, which is a cost-sharing,
multiple employer defined benefit plan. The County does not exercise any control over the System. NRS
§286.110 states that: "Respective participating public employers are not liable for any obligation of the
System." The System is administered by Nevada Public Employees’ Retirement System ("PERS").
As of June 30, 2016 and 2015, the Department had a net pension liability of $142.8 million and $130.3
million, which represents the Department's respective share, 14.8 percent, of the County's net pension
liability. This percentage was determined based on the contributions to PERS by the Department in FY
2015 relative to the total contributions to PERS by the County in FY 2015. For FYs 2016 and 2015, the
Department had, under GASB 68, a pension expense of $16.6 million and $18.1 million, respectively.
State of Nevada Public Employees’ Retirement System
PERS issues a publicly available CAFR that includes the pension plan’s fiduciary net position, financial
statements, and required supplementary information. PERS also issues the Schedule of Employer
Allocations, Schedule of Pension Amounts by Employer, and Related Notes. These reports can be
obtained by writing to Public Employees’ Retirement System of Nevada, 693 W. Nye Lane, Carson City,
NV 89703-1599, by calling (775) 687-4200, or through their website at
The following information relating to the pension plan for June 30, 2016 and 2015, was based on the
measurement dates of June 30, 2015 and 2014, respectively. The information for the measurement
date of June 30, 2016, was not available as of June 30, 2016, and, therefore, is not presented.
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