reglab/housing_qa huggingface dataset:
NE Code § 79-9,108 (2021)
2021 Nebraska Revised Statutes|Chapter 79 - Schools|79-9,108 - Employees retirement system; funds; investment.

79-9,108.  Employees retirement system; funds; investment.(1) Prior to January 1, 2017, the board of trustees, with approval of the board of education or Class V Retirement System Board, shall invest and reinvest funds of the retirement system. Beginning January 1, 2017, the funds of the retirement system shall be invested and reinvested solely by the council and the state investment officer in accordance with the Nebraska State Funds Investment Act.(2) Prior to January 1, 2017, a professional investment manager may be employed by the board of trustees subject to approval of the board of education or Class V Retirement System Board. The professional investment manager shall be responsible for the purchase, sale, exchange, investment, or reinvestment of such funds subject to guidelines determined by the board of trustees. Prior to January 1, 2017, the trustees shall each month submit a report to the board of education or Class V Retirement System Board with respect to the investment of funds. The board of education or Class V Retirement System Board shall approve or disapprove the investments in the report, and in the event of disapproval of any investment, the board of trustees shall direct the sale of all or part of such investment or establish future policy with respect to that type of investment. Beginning January 1, 2017, the funds of the retirement system shall be invested and reinvested by the council and the state investment officer, who may employ advisers, counsel, managers, and other professionals in accordance with the Nebraska State Funds Investment Act.(3) Beginning January 1, 2017, the board of trustees, the board of education, and the retirement board shall not have any duty, responsibility, or authority for the investment and reinvestment of the funds of the retirement system, or any investment decision, contract, rule, or regulation related thereto.Source   Laws 1967, c. 545, § 2, p. 1791;   Laws 1991, LB 350, § 7;   R.S.1943, (1994), § 79-1051.01;   Laws 1996, LB 900, § 643;  Laws 2006, LB 1024, § 68;  Laws 2016, LB447, § 39;  Laws 2021, LB147, § 34.   Effective Date: May 27, 2021  Cross References  Nebraska State Funds Investment Act, see section 72-1260.
NE Code § 79-9,109 (2021)
2021 Nebraska Revised Statutes|Chapter 79 - Schools|79-9,109 - Employees retirement system; investments; default of principal or interest; trustees; powers and duties.

79-9,109.  Employees retirement system; investments; default of principal or interest; trustees; powers and duties.Prior to January 1, 2017, in the event of default in the payment of principal of, or interest on, the investments made, the board of trustees are authorized to institute the proper proceedings to collect such matured principal or interest, and may, with approval of the board of education or Class V Retirement System Board, accept for exchange purposes, refunding bonds or other evidences of indebtedness with interest rates to be agreed upon with the obligor. Prior to January 1, 2017, the board of trustees, with the approval of the board of education or Class V Retirement System Board, are further authorized to make such compromises, adjustments, or disposition of the past-due interest or principal as are in default, or to make such compromises and adjustments as to future payments of interest or principal as deemed advisable for the purpose of protecting the investment.Source   Laws 1967, c. 545, § 3, p. 1792;   R.S.1943, (1994), § 79-1051.02;   Laws 1996, LB 900, § 644;  Laws 2006, LB 1024, § 69;  Laws 2016, LB447, § 40.
NE Code § 79-9,110 (2021)
2021 Nebraska Revised Statutes|Chapter 79 - Schools|79-9,110 - Employees retirement system; investments; mortgages on real property, when.

79-9,110.  Employees retirement system; investments; mortgages on real property, when.Investments may also be made in first mortgages on improved real property which are insured by the Federal Housing Administration under the National Housing Act, are guaranteed by the United States Department of Veterans Affairs under the federal Veterans' Benefits Act of 1958 and any amendments thereto, or are otherwise insured or guaranteed by the United States of America or any agency or instrumentality thereof so as to give the investor protection essentially the same as that provided by such National Housing Act or federal Veterans' Benefits Act of 1958 and any amendments thereto or in notes, bonds, or debentures fully collateralized by such protected mortgages.Source   Laws 1967, c. 545, § 6, p. 1795;   Laws 1991, LB 2, § 21;   R.S.1943, (1994), § 79-1051.05;   Laws 1996, LB 900, § 645.
NE Code § 79-9,111 (2021)
2021 Nebraska Revised Statutes|Chapter 79 - Schools|79-9,111 - Employees retirement system; investments; board of trustees; powers and duties; state investment officer; powers and duties.

79-9,111.  Employees retirement system; investments; board of trustees; powers and duties; state investment officer; powers and duties.The board of trustees shall invest the funds of the retirement system in investments of the nature which individuals of prudence, discretion, and intelligence acquire or retain in dealing with the property of another. Such investments shall not be made for speculation but for investment, considering the probable safety of their capital as well as the probable income to be derived. The board of trustees shall not purchase investments on margin or enter into any futures contract or other contract obligation which requires the payment of margin or enter into any similar contractual arrangement which may result in losses in excess of the amount paid or deposited with respect to such investment or contract, unless such transaction constitutes a hedging transaction or is incurred for the purpose of portfolio or risk management for the funds and investments of the system. Prior to January 1, 2017, the board of trustees may write covered call options or put options. Prior to January 1, 2017, the board of trustees shall establish written guidelines for any such option, purchase, or contract obligation. Any such option, purchase, or contract obligation shall be governed by the prudent investment rule stated in this section for investment of the funds of the system. The board of trustees may lend any security if cash, United States Government obligations, or United States Government agency obligations with a market value equal to or exceeding the market value of the security lent are received as collateral. Prior to January 1, 2017, if shares of stock are purchased under this section, all proxies may be voted by the board of trustees prior to January 1, 2017. As of January 1, 2017, the funds of the retirement system shall be invested solely by the council and the state investment officer in accordance with the Nebraska State Funds Investment Act. The state investment officer may lend securities and vote proxies in accordance with the standard set forth in section 72-1246.Source   Laws 1989, LB 237, § 6;   R.S.1943, (1994), § 79-1051.07;   Laws 1996, LB 900, § 646;   Laws 1997, LB 624, § 26;  Laws 2016, LB447, § 41.  Cross References  Nebraska State Funds Investment Act, see section 72-1260.
NE Code § 79-9,113.01 (2021)
2021 Nebraska Revised Statutes|Chapter 79 - Schools|79-9,113.01 - Employer; deduction; remittance; late fees; interest charge.

79-9,113.01.  Employer; deduction; remittance; late fees; interest charge.(1) An employer shall deduct and withhold an amount pursuant to section 79-9,113 from the compensation of an employee on each payroll period after such employee becomes a member of the retirement system. An employer shall transmit periodically, as directed by and in such form as is approved by the retirement board, such amounts and any information required by the retirement board. The retirement board shall immediately transmit to the State Treasurer all payments received.(2) The retirement board may charge an employer a late administrative processing fee not to exceed twenty-five dollars if the information required by this section and the contributions from an employer consistent with the dates and frequency of transmittal as specified in section 79-9,113 are delinquent or are not timely received by the retirement board. In addition, the retirement board may charge an employer a late fee of thirty-eight thousandths of one percent of the amount required to be submitted pursuant to this section for each day such amount has not been received. The late fee may be used to make a member's account whole for any costs that may have been incurred by the member due to the late receipt of contributions. The retirement board shall charge an employer an amount equal to the interest which would have accrued if the delinquent report causes the employee to lose interest on his or her account. The proceeds of the interest charge shall be used to reimburse the account of each employee deprived of interest by the delay.Source  Laws 2021, LB147, § 38.   Effective Date: May 27, 2021
NE Code § 79-9,114 (2021)
2021 Nebraska Revised Statutes|Chapter 79 - Schools|79-9,114 - Employees retirement system; federal Social Security Act; agreement; coverage group.

79-9,114.  Employees retirement system; federal Social Security Act; agreement; coverage group.In the event that an agreement for social security under the provisions of section 218(d)(3) of the federal Social Security Act is made applicable to services performed by employees in positions covered by the school employees retirement system and to services performed by employees who have elected under the provisions of section 79-988 as such section existed immediately prior to February 20, 1982, to remain under a preexisting system, such agreement shall also be made applicable to services performed by individuals as employees of the school district in positions not so covered, but which are otherwise eligible to the benefits of old age and survivors insurance under the provisions of section 218 of the federal Social Security Act as amended, and such employees shall be included in the coverage group, specified in such agreement.Source   Laws 1955, c. 321, § 8, p. 995;   R.S.1943, (1994), § 79-1056.05;   Laws 1996, LB 900, § 649.
NE Code § 79-9,115 (2021)
2021 Nebraska Revised Statutes|Chapter 79 - Schools|79-9,115 - Class V School Employees Retirement Fund; created; use; expenses; payment.

79-9,115.  Class V School Employees Retirement Fund; created; use; expenses; payment.(1) The Class V School Employees Retirement Fund is created.(2) Until September 1, 2024, except as provided in this section:(a) All allowances, annuities, or other benefits granted under the Class V School Employees Retirement Act, and all expenses incurred in connection with the administration of the act, except clerical work incurred in connection with maintenance of records and payment of benefits, shall be paid from the Class V School Employees Retirement Fund;(b) Such clerical work shall be performed by employees of the school district or districts;(c) The administrator and staff of the retirement system shall be permitted reasonable office and records storage space in the central office building of the Class V school district formed before September 13, 1997; and(d) All expenses for the retirement system office accommodations and integrated pension benefit information management systems, including all services, support, furniture, and equipment provided to or by any central office department of the school district, shall be charged to the retirement system.(3)(a) Beginning September 1, 2024, the required deposits of the school district and the amounts transferred to the school district by the State Treasurer for transmission to the retirement system and required deposits of the employees shall be credited to the Class V School Employees Retirement Fund and all allowances, annuities, and other benefits shall be paid from such fund as directed by the retirement board as provided in the Class V School Employees Retirement Act.(b) The account of each member in the Class V School Employees Retirement Fund shall be credited with regular interest earned monthly, quarterly, semiannually, or annually as the retirement board may direct.(4) Beginning on August 24, 2017, any expenses with respect to the transfer to and assumption by the council and the state investment officer of the duty and authority to invest the assets of a retirement system provided for under the Class V School Employees Retirement Act shall be charged to the Class V School Employees Retirement Fund. Such expenses shall be paid without the approval of the board of trustees or the retirement board, as applicable.Source   Laws 1951, c. 274, § 27, p. 925;   R.S.1943, (1994), § 79-1058;   Laws 1996, LB 900, § 650;   Laws 1998, LB 497, § 27;  Laws 2006, LB 1024, § 70;  Laws 2016, LB447, § 43;  Laws 2017, LB29, § 2;  Laws 2021, LB147, § 36.   Effective Date: May 27, 2021
NE Code § 79-9,115.01 (2021)
2021 Nebraska Revised Statutes|Chapter 79 - Schools|79-9,115.01 - Class V School Expense Fund; created; use.

79-9,115.01.  Class V School Expense Fund; created; use.The Class V School Expense Fund is created. Beginning September 1, 2024, the fund shall be credited with money from the retirement system assets and income sufficient to pay the pro rata share of administrative expenses incurred as directed by the retirement board for the proper administration of the Class V School Employees Retirement Act and as necessary in connection with the administration and operation of the retirement system.Source  Laws 2021, LB147, § 37.   Effective Date: May 27, 2021
NE Code § 79-9,115.02 (2021)
2021 Nebraska Revised Statutes|Chapter 79 - Schools|79-9,115.02 - Class V School Expense Fund; Class V School Employees Retirement Fund; assets; investment.

79-9,115.02.  Class V School Expense Fund; Class V School Employees Retirement Fund; assets; investment.Beginning September 1, 2024, all assets of the retirement system shall be credited, according to the purpose for which they are held, to the Class V School Expense Fund or to the Class V School Employees Retirement Fund. Any money in the funds available for investment shall be invested by the state investment officer pursuant to the Nebraska Capital Expansion Act and the Nebraska State Funds Investment Act.Source  Laws 2021, LB147, § 39.   Effective Date: May 27, 2021  Cross References   Nebraska Capital Expansion Act, see section 72-1269.  Nebraska State Funds Investment Act, see section 72-1260.
NE Code § 79-9,116 (2021)
2021 Nebraska Revised Statutes|Chapter 79 - Schools|79-9,116 - Applicability of sections.

79-9,116.  Applicability of sections.Sections 79-993 to 79-996 and the changes to sections 79-978, 79-988, 79-991, 79-992, 79-999, and 79-9,105 and to section 79-1057 as such section existed immediately before May 30, 1987, made by Laws 1987, LB 298, shall not apply to employees retiring prior to May 30, 1987.Source   Laws 1987, LB 298, § 11;   R.S.1943, (1994), § 79-1060.01;   Laws 1996, LB 900, § 651.
NE Code § 79-9,117 (2021)
2021 Nebraska Revised Statutes|Chapter 79 - Schools|79-9,117 - Preretirement planning program; for whom; required information; funding; attendance; fee.

79-9,117.  Preretirement planning program; for whom; required information; funding; attendance; fee.(1) Until September 1, 2024, the board of trustees, and beginning September 1, 2024, the retirement board, shall establish a comprehensive preretirement planning program for school employees who are members of the retirement system. The program shall provide information and advice regarding the many changes employees face upon retirement, including, but not limited to, changes in physical and mental health, housing, family life, leisure activity, and retirement income.(2) The preretirement planning program shall be available to all employees who have attained the age of fifty years or are within five years of qualifying for retirement or early retirement under their retirement systems.(3) The preretirement planning program shall include information on the federal and state income tax consequences of the various annuity or retirement benefit options available to the employee, information on social security benefits, information on various local, state, and federal government programs and programs in the private sector designed to assist elderly persons, and information and advice the board of trustees or retirement board, as applicable, deems valuable in assisting employees in the transition from public employment to retirement.(4) The board of trustees or retirement board, as applicable, shall work with any governmental agency, including political subdivisions or bodies whose services or expertise may enhance the development or implementation of the preretirement planning program.(5) The costs of the preretirement planning program shall be charged back to the retirement system.(6) An employer shall provide each eligible employee leave with pay to attend up to two preretirement planning programs. For purposes of this subsection, leave with pay means a day off paid by an employer and does not mean vacation, sick, personal, or compensatory time. An employee may choose to attend a program more than twice, but such leave shall be at the expense of the employee and shall be at the discretion of the employer. An eligible employee shall not be entitled to attend more than one preretirement planning program per fiscal year prior to actual election of retirement.(7) A nominal registration fee may be charged each person attending a preretirement planning program to cover the costs for meals, meeting rooms, or other expenses incurred under such program.Source  Laws 2011, LB509, § 36;  Laws 2013, LB263, § 28;  Laws 2016, LB447, § 44;  Laws 2021, LB147, § 40.   Effective Date: May 27, 2021
NE Code § 79-9,118 (2021)
2021 Nebraska Revised Statutes|Chapter 79 - Schools|79-9,118 - Participation in retirement system; qualification.

79-9,118.  Participation in retirement system; qualification.On and after July 1, 2011, no employee shall be authorized to participate in the retirement system unless the employee (1) is a United States citizen or (2) is a qualified alien under the federal Immigration and Nationality Act, 8 U.S.C. 1101 et seq., as such act existed on January 1, 2009, and is lawfully present in the United States.Source Laws 2011, LB509, § 37.
NE Code § 79-9,119 (2021)
2021 Nebraska Revised Statutes|Chapter 79 - Schools|79-9,119 - Beneficiary designation; order of priority.

79-9,119.  Beneficiary designation; order of priority.(1) Except as provided in section 79-9,104, in the event of a member's death, the death benefit shall be paid to the following, in order of priority:(a) To the member's surviving designated beneficiary as designated in writing on forms provided by the system;(b) To the spouse married to the member on the member's date of death if there is no surviving designated beneficiary as designated in writing on forms provided by the system; or(c) To the member's estate if the member is not married on the member's date of death and there is no surviving designated beneficiary as designated in writing on forms provided by the system.(2) The priority designations described in subsection (1) of this section shall not apply if the member has retired under a joint and survivor benefit option.Source Laws 2019, LB34, § 18.
NE Code § 79-9,120 (2021)
2021 Nebraska Revised Statutes|Chapter 79 - Schools|79-9,120 - Legislative intent.

79-9,120.  Legislative intent.It is the intent of the Legislature that the Public Employees Retirement Board develop a work plan, recommendations, cost estimates, and cost comparisons regarding the transfer of management of any Class V school employees retirement system established under the Class V School Employees Retirement Act and which existed on January 1, 2019, to the Public Employees Retirement Board.Source Laws 2019, LB31, § 2.
NE Code § 79-9,122 (2021)
2021 Nebraska Revised Statutes|Chapter 79 - Schools|79-9,122 - Class V School Employees Retirement System Management Work Plan Fund; created; use; investment.

79-9,122.  Class V School Employees Retirement System Management Work Plan Fund; created; use; investment.(1) The Class V School Employees Retirement System Management Work Plan Fund is created. The purpose of the fund is to transfer funds as specified in this section. The fund shall consist of the amounts transferred from an employer of any Class V school employees retirement system established under the Class V School Employees Retirement Act for all work performed by the Public Employees Retirement Board for services and related expenses in completion of the work described in sections 79-979.01, 79-9,121, and 79-9,124. The fund shall be administered by the Nebraska Public Employees Retirement Systems. Any money in the fund available for investment shall be invested by the state investment officer pursuant to the Nebraska Capital Expansion Act and the Nebraska State Funds Investment Act.(2) An employer of any Class V school employees retirement system established under the Class V School Employees Retirement Act shall remit the payments described in subsection (3) of section 79-9,121, subsection (3) of section 79-979.01, and section 79-9,124 to the State Treasurer for credit to the Class V School Employees Retirement System Management Work Plan Fund for all work performed by the retirement board for (a) services and related expenses in completion of the work plan, (b) additional identification and examination of issues as required under section 79-9,124, and (c) the transfer of management of the retirement system to the retirement board.Source  Laws 2019, LB31, § 4;  Laws 2021, LB147, § 41.   Effective Date: May 27, 2021  Cross References   Nebraska Capital Expansion Act, see section 72-1269.  Nebraska State Funds Investment Act, see section 72-1260.
NE Code § 79-9,123 (2021)
2021 Nebraska Revised Statutes|Chapter 79 - Schools|79-9,123 - Work plan; billing for work; payment.

79-9,123.  Work plan; billing for work; payment.(1) The administrator and board of trustees of any Class V school employees retirement system established under the Class V School Employees Retirement Act may quarterly bill the employer of such Class V school employees retirement system for all work performed and expenses incurred by the administrator, staff, and any consultants of the Class V school employees retirement system in response to requests for records, documents, data, or other information from the Nebraska Public Employees Retirement Systems or the retirement board in completion of the work plan described in section 79-9,121.(2)(a) The retirement board may bill an employer of any Class V school employees retirement system monthly for all work performed and expenses incurred pursuant to section 79-9,124.(b) The administrator and board of trustees of any Class V school employees retirement system established under the Class V School Employees Retirement Act may bill the employer of such Class V school employees retirement system monthly for all work performed and expenses incurred by the administrator, staff, and any consultants of the Class V school employees retirement system for the transition and transfer of management and general administration of such retirement system to the retirement board as described in section 79-979.01.(3) An employer of a retirement system shall remit payment pursuant to this section to the board of trustees within forty-five calendar days after receipt of each monthly bill and to the retirement board within the time period and in the manner negotiated in the transition and transfer of management and administration plan entered into pursuant to section 79-979.01.Source  Laws 2019, LB31, § 5;  Laws 2021, LB147, § 42.   Effective Date: May 27, 2021