Nevada Administrative Code
Chapter 693A - Corporate Powers and Procedures of Domestic Stock and Mutual Insurers
PROXY AND INFORMATION STATEMENTS
Section 693A.400 - Pension and retirement plans
Universal Citation: NV Admin Code 693A.400
Current through September 16, 2024
1. If action is to be taken with respect to any pension or retirement plan of the insurer, the following information is required:
(a) A brief
description of the material features of the plan, each class of persons who
will participate therein, the approximate number of persons in each such class,
and the basis of participation.
(b)
A statement of:
(1) The approximate total
amount necessary to fund the plan with respect to past services, the period
over which such amount is to be paid, and the estimated annual payments
necessary to pay the total amount over that period;
(2) The estimated annual payments to be made
with respect to current services; and
(3) The amount of annual payments to be made
for the benefit of:
(I) Each person named in
NAC 693A.380;
(II) Directors and
officers as a group; and
(III)
Employees as a group.
2. If the plan to be acted upon may be amended, other than by a vote of security holders, in a manner which would materially increase the cost thereof to the insurer or materially alter the allocation of the benefits between the groups specified in paragraph (b) subparagraph (3) of this section, the nature of the amendments must be specified.
Comm'r of Insurance, Schedule A item 9, eff. 5-13-72
NRS 679B.130
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