Revises provisions relating to public employees' retirement. (BDR 23-1200)

AB 498-82 revises contribution rates for Nevada's Public Employees' Retirement System (PERS) and the University of Nevada retirement program. It reduces state employees' required contributions to half the actuarially determined "normal cost" (down from equal employer/employee shares) and adjusts employer contributions accordingly. For University of Nevada professional staff, it increases mandatory contributions from 10% to 17.5% of gross pay for both the university and employees. The bill also provides state funding to cover increased employer contributions during the 2023-2025 biennium. These changes directly affect all state employees in PERS and University of Nevada staff participating in the separate retirement program.