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Nevada Public Employees' Retirement System
| Nevada Public Employees' Retirement System | |
 | |
| Basic facts | |
| Location: | Carson City, Nevada |
| Top official: | Mark Stevens, chair |
| Year founded: | 1947 |
| Active members: | 112,019 |
| Website: | Official website |
| Total assets under management | |
| 2023: | $57,769,000,000 |
- See also: Public pensions in Nevada
The Nevada Public Employees' Retirement System (NVPERS) is a Nevada state pension fund that provides retirement, disability, and survivor benefits to the state's public employees and their families. NVPERS had $57,769,000,000 ($57.8 billion) in total assets under management as of June 30, 2023.[1]
The management of public pension funds can indicate support or opposition to environmental, social, and corporate governance (ESG) investment practices. ESG investing considers the extent to which corporations align with and promote certain non-financial standards, such as net carbon emission or corporate board diversity goals. States typically hire asset management companies (AMCs) to direct pension plan investments, some of which have ESG commitments that guide their strategies.
This article features the following sections:
- Background: Information about the structure and functions of NVPERS.
- Pension performance overview: Overview of the funding level and assets managed by NVPERS.
- Assets and asset management: Information about the asset management companies (AMCs) that contract with NVPERS, including a list of contracting AMCs that are participants in the Net Zero Asset Managers Initiative and the Climate Action 100+ initiative.
- Governance and accountability: Details about NVPERS' oversight board, including members and selection.
Background
- See also: Public pensions
The Nevada Public Employees' Retirement System (NVPERS), founded in 1947, operates two sub-funds, the Regular System and the Police and Firefighter System. It operates as a defined benefit plan based on a formula established by Nevada state law. These plans—based on the employee's length of service and salary— provide retirement, disability, and survivor benefits to the state's public employees (including police and firefighters) and their families.[1]
NVPERS served over 112,019 active members and approximately 76,128 retirees and beneficiaries as of June 30, 2023.[1]
Pension performance overview
The following table features information about the funding level and assets managed by the Nevada Public Employees' Retirement System as of June 30, 2023:[1]
| Nevada Public Employees' Retirement System performance (June 30, 2023) | |||
|---|---|---|---|
| Fiscal year | Percent funded | Unfunded liabilities | Total assets |
| 2023 | 75.4% | $18,799,000,000 | $57,769,000,000 |
Note: The unfunded liabilities for the individual subfunds are as follows:
- Regular - $14,395,000,000
- Police and Firefighters - $4,404,000,000
Assets and asset management
| Environmental, social, and corporate governance |
|---|
|
| • What is ESG? • Enacted ESG legislation • Arguments for and against ESG • Opposition to ESG • Federal ESG rules • ESG legislation tracker • Economy and Society: Ballotpedia's weekly ESG newsletter |
Asset management companies (AMCs) are hired to manage asset investment for state pension funds across all 50 states.
As of October 2024, 330 AMCs were members of the Net Zero Asset Managers Initiative (NZAM), and 391 AMCs were investor participants in the Climate Action 100+ initiative. Both international asset manager initiatives aimed to align the investment decisions of signatories with the goal of achieving net zero greenhouse gas emissions by 2050.[2][3]
NZAM announced on January 13, 2025, that it was suspending operations and removing the commitment statement and list of signatories from its website. The group said in a statement it would reevaluate its plans and operations in light of “[r]ecent developments in the U.S. and different regulatory and client expectations in investors’ respective jurisdictions.”[4]
List of AMCs contracting with the Nevada Public Employees' Retirement System
The Nevada Public Employees' Retirement System (NVPERS) contracted with nine asset management companies (AMCs) as of March 31, 2022. Of those companies or funds, one was an investor participant in Climate Action 100+, and five were members of NZAM as of 2024. The following list identifies the AMCs (and in some cases, the specific funds) contracting with NVPERS:[5]
- AEW
- AllianceBernstein (NZAM)
- BlackRock (NZAM, Climate Action 100+)
- BNY Mellon
- Invesco Realty Advisors (NZAM)
- Mellon Capital
- Pathway Capital
- Payden & Rygel (NZAM)
- SSgA (NZAM)
Governance and accountability
This section features information about the seven-member board of trustees that oversees the Nevada Public Employees' Retirement. The board is not specific to oversight of the Nevada Public Employees' Retirement System and does exercise oversight duties for other state funds.[6]
Board selection method
The board of trustees that oversees NVPERS is made up of seven governor-appointed members.[1]
Board of trustees membership
A seven-member board of trustees oversees the operation and administration of NVPERS. The following individuals served on the board as of November 2024:[6]
- Mark Stevens, chair
- Brian A. Wallace, vice-chair
- Dawn Huckaby
- Todd Ingalsbee
- Norma Santoyo
- Jessica Colvin
- Cameron Wagner
See also
- Public pensions in Nevada
- Environmental, social, and corporate governance (ESG)
- Arguments about environmental, social, and corporate governance (ESG)
- Opposition to environmental, social, and corporate governance (ESG) investing
- Reform proposals related to environmental, social, and corporate governance (ESG)
- State legislative approaches opposing ESG investing
- State legislative approaches supporting ESG investing
External links
Footnotes
- ↑ 1.0 1.1 1.2 1.3 1.4 Nevada Public Employees' Retirement System, "Annual Comprehensive Financial Report for the Fiscal Year Ended June 30, 2023
- ↑ The Net Zero Asset Managers Initiative, "The Net Zero Asset Managers Initiative," accessed January 26, 2023
- ↑ Climate Action 100+, "The Three Goals," accessed June 20, 2023
- ↑ Pensions and Investments, "Net Zero Asset Managers initiative to suspend activities in wake of BlackRock departure," accessed January 15, 2024
- ↑ Ballotpedia, "Ballotpedia: Asset management data for state-administered pension funds across the 50 states," March 2023
- ↑ 6.0 6.1 Nevada Public Employees' Retirement System, "Retirement Board," November 13, 2024
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