Nev. Admin. Code § 353B.300 - Conditions for change in contractual plan
Current through October 13, 2021
The Board will amend a contract to change the contractual plan if:
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NAC 353B.300 Conditions for change in contractual plan. (NRS 353B.090) The Board will amend a contract to change the contractual plan if:
1. The purchaser requests the change, submits the required fee and pays any additional sum the Board determines to be necessary, as a result of the change, to ensure the actuarial soundness of the Trust Fund;
2. No benefits have been paid pursuant to the contract;
3. The purchaser is not in default pursuant to NAC 353B.370; and
4. The contract has not been terminated.
(Added to NAC by Bd. of Trustees for Higher Educ. Tuition Trust Fund by R009-99, eff. 11-3-99)