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Bill to Change Nevada Public Retirement System to 401(k) Type Retirement Plan for Newly Hired Employees Being Drafted
Las Vegas Review-Journal 
Dec. 16, 2008
Excerpt: [Public Employees Retirement System] benefits average $27,692 per year. Both state Sens. Bill Raggio, R-Reno, and Bob Coffin, D-Las Vegas, told Bilyeu that Nevada faces severe budget problems and steps must be taken to reduce state contributions. They questioned whether the system would save on benefit costs by increasing the retirement age to 65. That might well save money, Bilyeu said, but state and federal laws prevent any reductions in benefits -- including increasing the retirement age -- to existing participants in PERS.
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