Nebraska § 79-971 Accumulated contributions; use

Nebraska Statutes

§ 79-971 — Accumulated contributions; use

Nebraska § 79-971

Ch. 79Schools

This text of Nebraska § 79-971 (Accumulated contributions; use) 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. § 79-971 (2026).

Text

The Nebraska Public Employees Retirement Systems shall keep an accounting of the required deposits from the compensation of members collected to provide savings annuities. The accumulated contributions, plus statutorily required accumulated interest, of a member may be (1) returned to the member upon the member's termination, (2) paid pursuant to section  79-969  in the event of the member's death, or (3) in the event of the member's retirement, used to assist in funding the member's school retirement allowance, disability retirement allowance, or formula annuity allowance. Any accumulated contributions forfeited shall be transferred from the School Retirement Fund to the Contingent Account.

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The Nebraska Public Employees Retirement Systems shall keep an accounting of the required deposits from the compensation of members collected to provide savings annuities. The accumulated contributions, plus statutorily required accumulated interest, of a member may be (1) returned to the member upon the member's termination, (2) paid pursuant to section 79-969 in the event of the member's death, or (3) in the event of the member's retirement, used to assist in funding the member's school retirement allowance, disability retirement allowance, or formula annuity allowance. Any accumulated contributions forfeited shall be transferred from the School Retirement Fund to the Contingent Account.

Legislative History

Source: Laws 1945, c. 219, § 47, p. 653; R.S.Supp.,1947, § 79-2947; Laws 1949, c. 256, § 480, p. 855; Laws 1969, c. 735, § 14, p. 2783; Laws 1971, LB 987, § 26; Laws 1987, LB 549, § 12; Laws 1988, LB 1170, § 15; R.S.1943, (1994), § 79-1546; Laws 1996, LB 900, § 606; Laws 2002, LB 407, § 43; Laws 2019, LB34, § 16.