1. The Governor shall appoint the Committee to Administer the Public Employees Deferred Compensation Program. The Committee must consist of: (a) Two members who are employed by state agencies whose payrolls are administered by the Division of Human Resource Management of the Department of Administration; (b) One member who is employed by: (1) A state agency whose payroll is administered by the Division of Human Resource Management of the Department of Administration; or (2) A political subdivision that participates in the Program; (c) One member who is employed by a state agency whose payroll is administered by an entity other than the Division of Human Resource Management of the Department of Administration; and (d) One member who has retired from employment by the State of Nevada or the Nevada System of Higher Education. Each member of the Committee must be a participant in the Program, have participated in the Program for not less than 2 years and have been nominated for membership by five or more persons who have each participated in the Program for not less than 6 months. 2. After their initial terms, members of the Committee serve terms of 4 years or until their successors have been appointed and have qualified. 3. A vacancy on the Committee occurs when a member dies, resigns or becomes ineligible for membership on the Committee. A person becomes ineligible for membership on the Committee when: (a) The person ceases to be a participant in the Program; or (b) Except as otherwise provided in this paragraph, the person ceases to have the qualifications for membership required by the paragraph of subsection 1 under which the person was appointed. A member of the Committee who ceases to have those qualifications may serve the remainder of the members term if that period does not exceed 24 months. 4. The member appointed pursuant to paragraph (d) of subsection 1 must be compensated $80 per day from money appropriated from the Program pursuant to NRS 287.365 for attending a meeting of the Committee and for acting at the direction of or on behalf of the Committee. 5. For the purposes of this section, participant in the Program means a person who is: (a) Deferring compensation pursuant to the Program; (b) Maintaining deferred compensation in the Program; or (c) Receiving payments of deferred compensation pursuant to the Program.
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