Nebraska § 79-924 Repurchase relinquished creditable service; credit for prior years of service; payment; rules and regulations; election; provisions applicable

Nebraska Statutes

§ 79-924 — Repurchase relinquished creditable service; credit for prior years of service; payment; rules and regulations; election; provisions applicable

Nebraska § 79-924

Ch. 79Schools

This text of Nebraska § 79-924 (Repurchase relinquished creditable service; credit for prior years of service; payment; rules and regulations; election; provisions applicable) is published on Counsel Stack Legal Research, covering Nebraska primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Neb. Rev. Stat. § 79-924 (2026).

Text

The retirement board may adopt and promulgate rules and regulations to allow for lump-sum or installment payments for school employees who elect to repurchase relinquished creditable service under section  79-921  or buy credit for prior years of service under sections  79-933.03  to  79-933.06  and  79-933.08 . Any person who elects to repurchase relinquished creditable service or buy credit for prior years of service on an installment basis may be charged reasonable service costs, shall be credited with those prior years of service only as the money is actually received by the retirement system, and shall have paid to the retirement system all installments prior to the commencement of a retirement annuity.

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The retirement board may adopt and promulgate rules and regulations to allow for lump-sum or installment payments for school employees who elect to repurchase relinquished creditable service under section 79-921 or buy credit for prior years of service under sections 79-933.03 to 79-933.06 and 79-933.08 . Any person who elects to repurchase relinquished creditable service or buy credit for prior years of service on an installment basis may be charged reasonable service costs, shall be credited with those prior years of service only as the money is actually received by the retirement system, and shall have paid to the retirement system all installments prior to the commencement of a retirement annuity.

Legislative History

Source: Laws 1986, LB 325, § 6; Laws 1990, LB 819, § 1; R.S.1943, (1994), § 79-1514.05; Laws 1996, LB 900, § 559; Laws 1996, LB 1076, § 18; Laws 1997, LB 724, § 4; Laws 2014, LB1042, § 3; Laws 2018, LB1005, § 24.