1. The Board shall employ an Executive Officer who serves at the pleasure of the Board. The Executive Officer shall select a General Counsel, Operations Officer, Investment Officer, Chief Financial Officer, Manager of Information Systems, Administrative Services Coordinator and Administrative Analyst whose appointments are effective upon confirmation by the Board. The General Counsel, Operations Officer, Investment Officer, Chief Financial Officer, Manager of Information Systems, Administrative Services Coordinator and Administrative Analyst serve at the pleasure of the Executive Officer.

2. The Executive Officer, General Counsel, Operations Officer, Investment Officer, Chief Financial Officer, Manager of Information Systems, Administrative Services Coordinator and Administrative Analyst are entitled to annual salaries fixed by the Board with the approval of the Interim Retirement and Benefits Committee of the Legislature created pursuant to NRS 218E.420. The salaries of these employees are exempt from the limitations of NRS 281.123.

3. The Executive Officer must:

(a) Be a graduate of a 4-year college or university with a degree in business administration or public administration or equivalent degree.

(b) Possess at least 5 years’ experience in a high level administrative or executive capacity, including responsibility for a variety of administrative functions such as retirement, insurance, investment or fiscal operations.

4. The General Counsel must be an attorney in good standing licensed and admitted to practice law in this State.

5. The Operations Officer, Investment Officer, Chief Financial Officer, Manager of Information Systems and Administrative Analyst must each be a graduate of a 4-year college or university with a degree in business administration or public administration or an equivalent degree.

6. Except as otherwise provided in NRS 284.143, the Executive Officer shall not pursue any other business or occupation or perform the duties of any other office of profit during normal office hours unless on leave approved in advance. The Executive Officer shall not participate in any business enterprise or investment in real or personal property if the System owns or has a direct financial interest in that enterprise or property.

[Part 4:181:1947; A 1949, 174; 1955, 23] + [Part 7:181:1947; 1943 NCL § 5230.07] + [38:295:1953; A 1955, 553] — (NRS A 1967, 1493; 1971, 1429; 1973, 855; 1975, 1031; 1977, 1577; 1979, 746; 1981, 445; 1985, 1709; 1989, 1556; 1995, 250, 2319; 1997, 613; 1999, 3022; 2001, 2401; 2003, 2053; 2007, 500; 2015, 1268, 2157)