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Board approves PEW feasibility study on including independent contractors in NEST
Summary
Trustees unanimously approved staff’s draft feasibility study, prepared by PEW, on including independent contractors and other non-traditional workers in the Nevada Employee Savings Trust and authorized submission to the Legislative Counsel Bureau by Dec. 31, 2024.
Deputy of Financial Literacy and Security Lesley Mohlenkamp presented a draft public feasibility study on including independent contractors and other non-traditional workers in the Nevada Employee Savings Trust per section 36.5 of SB305. The study was prepared by PEW Charitable Trusts’ Retirement Savings Project and included findings and recommended next steps for the board’s review.
Andrew Blevins and John Scott of PEW were on the call to answer questions. "I also have my project director, John Scott, who contributed to the report here as well," Blevins said when staff introduced the document. Board members had no substantive edits and moved to transmit the final draft to the Director of the Legislative Counsel Bureau by the statutory deadline of Dec. 31, 2024.
Member Joseph Caldera moved to forward the study and Member William H. Palmer III seconded; the motion passed unanimously. Staff said they can submit the report as early as Dec. 1 if there are no further edits. The board also asked staff to include questions about independent contractors when following up with RFI respondents to see how partner programs accommodate self-enrolled participants.
