On July 31, NFIB Nevada invited two officials from the State Treasurer’s Office to explain the compliance requirements under the state’s new Nevada Employee Savings Trust (NEST) program.

Michael Pelham, program director for NEST, and Kayla Slaugher, NEST program manager, spoke and answered questions from NFIB members for 40 minutes. Click here or on the graphic below to see their presentation.

The NEST Program is aimed at businesses with six or more employees as a way to boost the retirement savings of employees, and although only employees contribute to it, employers will be handling the administrative responsibilities.

According to the NEST website, “The Nevada Employee Savings Trust is a state-facilitated retirement savings program for private-sector workers who don’t have access to a 401(k) or pension through their job. NEST makes it easy for businesses to help employees save – at no cost to the employer – and participation is completely voluntary for workers. Our mission is to give more Nevadans a simple, low-cost way to build a secure financial future.”

NEST was created by Senate Bill 305 in the 2023 session of the Nevada Legislature.