reglab/housing_qa huggingface dataset:
NE Code § 79-977 (2021)
2021 Nebraska Revised Statutes|Chapter 79 - Schools|79-977 - School district expenditures; not exempt from limitations on spending.

79-977.  School district expenditures; not exempt from limitations on spending.Any expenditure made by a school district pursuant to sections 79-934, 79-968, and 79-973 as changed by Laws 1993, LB 292, shall be considered a general fund expenditure of the district and shall not be exempt from the growth limitations placed on district spending by the Tax Equity and Educational Opportunities Support Act.Source   Laws 1993, LB 292, § 6;   R.S.1943, (1994), § 79-1567;   Laws 1996, LB 900, § 612;  Laws 2002, LB 407, § 46.  Cross References  Tax Equity and Educational Opportunities Support Act, see section 79-1001.
NE Code § 79-977.01 (2021)
2021 Nebraska Revised Statutes|Chapter 79 - Schools|79-977.01 - Limitation of actions.

79-977.01.  Limitation of actions.Every claim and demand under the School Employees Retirement Act and against the retirement system or the retirement board shall be forever barred unless the action is brought within two years of the time at which the claim accrued.Source  Laws 1996, LB 1076, § 31.
NE Code § 79-977.02 (2021)
2021 Nebraska Revised Statutes|Chapter 79 - Schools|79-977.02 - Retirement system contributions, income, property, and rights; how treated.

79-977.02.  Retirement system contributions, income, property, and rights; how treated.All contributions to the retirement system, all property and rights purchased with the contributions, and all investment income attributable to the contributions, property, or rights shall be held in trust by the State of Nebraska for the exclusive benefit of members and their beneficiaries and shall only be used to pay benefits to such persons and to pay administrative expenses according to the provisions of the School Employees Retirement Act.Source  Laws 1998, LB 1191, § 59.
NE Code § 79-977.03 (2021)
2021 Nebraska Revised Statutes|Chapter 79 - Schools|79-977.03 - Termination of system or contributions; effect.

79-977.03.  Termination of system or contributions; effect.Upon termination or partial termination of the retirement system or upon complete discontinuance of contributions under the retirement system, the rights of all affected members to benefits accrued to the date of such termination, partial termination, or discontinuance, to the extent funded as of such date, shall be nonforfeitable.Source  Laws 1998, LB 1191, § 60.
NE Code § 79-978.01 (2021)
2021 Nebraska Revised Statutes|Chapter 79 - Schools|79-978.01 - Act, how cited.

79-978.01.  Act, how cited.Sections 79-978 to 79-9,124 shall be known and may be cited as the Class V School Employees Retirement Act.Source   Laws 1998, LB 497, § 7;  Laws 2011, LB509, § 33;  Laws 2016, LB447, § 15;  Laws 2017, LB415, § 35;  Laws 2019, LB31, § 1;  Laws 2019, LB34, § 17;  Laws 2021, LB147, § 8.   Effective Date: May 27, 2021
NE Code § 79-979 (2021)
2021 Nebraska Revised Statutes|Chapter 79 - Schools|79-979 - Class V school district; employees' retirement system; established.

79-979.  Class V school district; employees' retirement system; established.(1) Prior to September 13, 1997, in each Class V school district in the State of Nebraska there is hereby established a separate retirement system for all employees of such school district. Such system shall be for the purpose of providing retirement benefits for all employees of the school district as provided in the Class V School Employees Retirement Act. The system shall be known as School Employees' Retirement System of (corporate name of the school district as described in section 79-405). All of its business shall be transacted, all of its funds shall be invested, and all of its cash and securities and other property shall be held in trust on behalf of the retirement system for the purposes set forth in the act. Such funds shall be kept separate from all other funds of the school district and shall be used for no other purpose.(2) Except as provided in subsection (3) of this section, if any new Class V school districts are formed after September 13, 1997, such new Class V school district shall elect to become or remain a part of the retirement system established pursuant to the School Employees Retirement Act.(3) Any new Class V school districts formed pursuant to the Learning Community Reorganization Act shall continue to participate in the retirement system established pursuant to the Class V School Employees Retirement Act if such new Class V school district was formed at least in part by territory that had been in a Class V school district that participated in the retirement system established pursuant to the Class V School Employees Retirement Act.Source   Laws 1951, c. 274, § 2, p. 912;   Laws 1988, LB 1142, § 10;   R.S.1943, (1994), § 79-1033;   Laws 1996, LB 900, § 614;   Laws 1997, LB 623, § 29;   Laws 1997, LB 624, § 22;   Laws 1998, LB 497, § 8;  Laws 2006, LB 1024, § 60;  Laws 2016, LB447, § 16;  Laws 2021, LB147, § 9.   Effective Date: May 27, 2021  Cross References   Learning Community Reorganization Act, see section 79-4,117.  School Employees Retirement Act, see section 79-901.
NE Code § 79-979.02 (2021)
2021 Nebraska Revised Statutes|Chapter 79 - Schools|79-979.02 - Employees retirement system; immunity from liability, when.

79-979.02.  Employees retirement system; immunity from liability, when.(1) Beginning September 1, 2024, the State of Nebraska, the retirement board, the Nebraska Public Employees Retirement Systems, and their respective officers, members, employees, and agents shall be indemnified and held harmless by the school district and board of education from any and all liabilities, claims, suits, losses, damages, and costs that arise from, or are reasonably related to, any conduct, decision, action, inaction, or omission of the board of trustees, the board of education, or the school district or any consequences arising thereof during the course of performing their respective duties and responsibilities for, or actions or services related to or in support of, the retirement system under the Class V School Employees Retirement Act prior to September 1, 2024.(2) The school district of a retirement system described under the Class V School Employees Retirement Act shall remain at all times and in all circumstances solely liable for all funding obligations and responsibilities as described in the act.(3) At no time and under no circumstances shall the State of Nebraska, the Nebraska Public Employees Retirement Systems, the retirement board, or any other state entity or its officers, employees, or assigns with duties related to the Class V school employees retirement system be liable for any funding obligations of any Class V school employees retirement system.(4) The retirement board shall not be liable for any acts or omissions occurring prior to September 1, 2024, in the administration of the Class V School Employees Retirement Act and made at the direction of or by the board of trustees or its employees, the school district or its employees, or the board of education.(5) A member of the board of education, the board of trustees, or the retirement board shall not be personally liable for any action related to such board member's retirement duties except in cases of willful dishonesty, gross negligence, or intentional violation of law.(6) Except as otherwise provided in this section, the school district shall not be liable for any act or omission in the administration of the Class V School Employees Retirement Act made at the direction of the retirement board or the administrator of the Nebraska Public Employees Retirement Systems or its employees on and after September 1, 2024.Source  Laws 2021, LB147, § 17.   Effective Date: May 27, 2021
NE Code § 79-982 (2021)
2021 Nebraska Revised Statutes|Chapter 79 - Schools|79-982 - Employees retirement system; board of trustees; meetings; duties; transition; termination.

79-982.  Employees retirement system; board of trustees; meetings; duties; transition; termination.(1) Until July 1, 2021, the board of trustees shall (a) hold regular meetings annually and such special meetings at such times as may be deemed necessary, which meetings shall be open to the public, (b) keep a record of all the proceedings of such meetings, (c) prior to January 1, 2017, and subject to the approval of the board of education, invest all cash income not required for current payments in securities of the type provided in section 79-9,107 and so reinvest the proceeds from the sale or redemption of investments, and (d) supervise the affairs of the retirement system related to the administration of benefits and approve any changes in the administration of the retirement system essential to the actuarial requirements of the retirement system.(2) Beginning July 1, 2021, until September 1, 2024, the board of trustees, as directed by the board of education shall (a) hold regular meetings annually and such special meetings at such times as may be deemed necessary, which meetings shall be open to the public, (b) keep a record of all the proceedings of such meetings, (c) supervise the affairs of the retirement system related to the administration of benefits and recommend to the board of education any changes in the administration of the retirement system essential to the actuarial requirements of the retirement system, and (d) facilitate the transition and transfer of management and general administration of the retirement system to the retirement board effective September 1, 2024.(3) Effective September 1, 2024, the board of trustees shall not have any duty or responsibility for the general administration of the retirement system, and the board of trustees and the terms of the members shall terminate.Source   Laws 1951, c. 274, § 5, p. 914;   Laws 1955, c. 321, § 1, p. 992;   Laws 1979, LB 187, § 242;   Laws 1993, LB 107, § 3;   R.S.1943, (1994), § 79-1036;   Laws 1996, LB 900, § 617;  Laws 2001, LB 711, § 7;  Laws 2016, LB447, § 19;  Laws 2021, LB147, § 12.   Effective Date: May 27, 2021
NE Code § 79-982.01 (2021)
2021 Nebraska Revised Statutes|Chapter 79 - Schools|79-982.01 - Employees retirement system; board of trustees; board of education; fiduciaries; duties.

79-982.01.  Employees retirement system; board of trustees; board of education; fiduciaries; duties.(1) The members of the board of trustees shall have the responsibility for the administration of the retirement system pursuant to section 79-982 until September 1, 2024.(2)(a) Until September 1, 2024, the board of trustees shall be deemed fiduciaries with respect to the administration of the retirement system, and shall be held to the standard of conduct of a fiduciary specified in subdivision (b) of this subsection.(b) As fiduciaries, the members of the board of trustees shall:(i) Discharge their duties with respect to the retirement system solely in the interests of the members and beneficiaries of the retirement system for the exclusive purposes of providing benefits to members and members' beneficiaries and defraying reasonable expenses incurred within the limitations and according to the powers, duties, and purposes prescribed by law at the time such duties are discharged;(ii) Not have a duty in their official capacity to seek the enhancement of plan benefits through the legislative process if such benefits are not already contained within the plan documents; and(iii) Act with the care, skill, prudence, and diligence under the circumstances then prevailing that a prudent person acting in like capacity and familiar with such matters would use in the conduct of an enterprise of a like character and with like aims.(3)(a) Beginning July 1, 2021, and until September 1, 2024, the members of the board of education shall:(i) Have the responsibility for the administration of the retirement system pursuant to section 79-982;(ii) Be deemed fiduciaries with respect to the administration of the retirement system; and(iii) Be held to the standard of conduct of a fiduciary specified in subdivision (b) of this subsection.(b) As fiduciaries, the members of the board of education shall:(i) Discharge their duties with respect to the retirement system solely in the interests of the members and beneficiaries of the retirement system for the exclusive purposes of providing benefits to members and members' beneficiaries and defraying reasonable expenses incurred within the limitations and according to the powers, duties, and purposes prescribed by law at the time such duties are discharged;(ii) Not have a duty in their official capacity to seek the enhancement of plan benefits through the legislative process if such benefits are not already contained within the plan documents; and(iii) Act with the care, skill, prudence, and diligence under the circumstances then prevailing that a prudent person acting in like capacity and familiar with such matters would use in the conduct of an enterprise of a like character and with like aims.Source  Laws 2016, LB447, § 20;  Laws 2021, LB147, § 13.   Effective Date: May 27, 2021
NE Code § 79-983 (2021)
2021 Nebraska Revised Statutes|Chapter 79 - Schools|79-983 - Employees retirement system; administrator; appointment; termination; retirement system staff.

79-983.  Employees retirement system; administrator; appointment; termination; retirement system staff.(1) Until July 1, 2021, the administrator of the retirement system shall be appointed by the board of trustees and approved by the board of education and shall serve at the pleasure of the board of trustees. Beginning July 1, 2021, the administrator of the retirement system shall be appointed by the board of education. The administrator shall hire, dismiss, and otherwise supervise the other staff of the retirement system as approved and directed by the board, shall keep the minutes and records of the retirement system, shall be the executive officer in charge of the administration of the detailed affairs of the retirement system, and shall perform such other duties as may be assigned by the board. The administrator and retirement system staff shall be employees of the Class V school district, with compensation and the benefits as available to school district employees determined by the board. The retirement system shall reimburse the Class V school district for all employee costs of salary, employment taxes, and benefits provided to the administrator and retirement system staff. The administrator shall serve as a nonvoting, ex officio member of the council and shall not be deemed a fiduciary of the council.(2) Effective September 1, 2024, the position of the administrator and all retirement system staff positions shall terminate. The administrator duties shall be assumed by the director appointed by the retirement board pursuant to section 84-1503.Source   Laws 1951, c. 274, § 6, p. 915;   Laws 1991, LB 350, § 3;   R.S.1943, (1994), § 79-1037;   Laws 1996, LB 900, § 618;  Laws 2006, LB 1024, § 63;  Laws 2016, LB447, § 22;  Laws 2021, LB147, § 15.   Effective Date: May 27, 2021
NE Code § 79-984 (2021)
2021 Nebraska Revised Statutes|Chapter 79 - Schools|79-984 - Employees retirement system; actuary; duties.

79-984.  Employees retirement system; actuary; duties.(1) Until July 1, 2021, the board of trustees shall contract for the services of an actuary who shall be the technical advisor of the board of trustees on matters regarding the operation of the retirement system. The selection of the actuary shall be approved by the board of education. The actuary shall (a) make a general investigation of the operation of the retirement system annually, which investigation shall cover mortality, retirement, disability, employment, turnover, interest, and earnable compensation, and (b) recommend tables to be used for all required actuarial calculations. The actuary shall perform such other duties as may be assigned by the board of trustees.(2) Beginning July 1, 2021, and until September 1, 2024, the board of education shall contract for the services of an actuary who shall be the technical advisor of the board of education and the board of trustees on matters regarding the operation of the retirement system. The actuary shall:(a) Make a general investigation of the operation of the retirement system annually, which investigation shall cover mortality, retirement, disability, employment, turnover, interest, and earnable compensation;(b) Recommend tables to be used for all required actuarial calculations; and(c) Perform such other duties as may be assigned by the board of education.(3) Beginning September 1, 2024, the retirement board shall select and appoint the actuary for the retirement system pursuant to section 84-1503.Source   Laws 1951, c. 274, § 7, p. 915;   R.S.1943, (1994), § 79-1038;   Laws 1996, LB 900, § 619;   Laws 1998, LB 497, § 11;  Laws 2001, LB 711, § 8;  Laws 2006, LB 1024, § 64;  Laws 2013, LB263, § 21;  Laws 2016, LB447, § 23;  Laws 2021, LB147, § 18.   Effective Date: May 27, 2021
NE Code § 79-985 (2021)
2021 Nebraska Revised Statutes|Chapter 79 - Schools|79-985 - Employees retirement system; legal advisor.

79-985.  Employees retirement system; legal advisor.The board may contract for the services of a legal advisor to the board of trustees until September 1, 2024. Beginning September 1, 2024, the attorney hired by the retirement board pursuant to section 84-1503 shall also advise such board regarding the administration of the retirement system.Source   Laws 1951, c. 274, § 8, p. 915;   R.S.1943, (1994), § 79-1039;   Laws 1996, LB 900, § 620;  Laws 2006, LB 1024, § 65;  Laws 2016, LB447, § 24;  Laws 2021, LB147, § 19.   Effective Date: May 27, 2021
NE Code § 79-986 (2021)
2021 Nebraska Revised Statutes|Chapter 79 - Schools|79-986 - Employees retirement system; State Treasurer as treasurer; when; school district; duties.

79-986.  Employees retirement system; State Treasurer as treasurer; when; school district; duties.(1) The State Treasurer shall (a) act as treasurer of the retirement system and the official custodian of the cash and securities belonging to such retirement system, (b) provide adequate safe deposit facilities for the preservation of such securities, and (c) hold such cash and securities subject to the order of the council.(2) The school district and the Nebraska Public Employees Retirement Systems, as applicable, shall receive all items of taxes or cash belonging to the retirement system as specified in the Class V School Employees Retirement Act and shall deposit in banks approved by the State Treasurer all such amounts in trust or custodial accounts. Notwithstanding any limitations elsewhere imposed by statute on the location of the retirement system's depository bank, such limitations shall not apply to the use of depository banks for the custody of the system's cash, securities, and other investments.(3) The State Treasurer as treasurer of the retirement system shall make payments to the school district upon request of the administrator of a retirement system provided for under the Class V School Employees Retirement Act and as directed by the Nebraska Public Employees Retirement Systems. The school district shall use payments received from the State Treasurer to make payments for purposes specified in the Class V School Employees Retirement Act.(4) Beginning September 1, 2024, the State Treasurer as treasurer of the retirement system shall disburse money from funds in his or her custody belonging to the retirement system for the purposes specified in the Class V School Employees Retirement Act. The State Treasurer, along with the Director of Administrative Services, shall make such disbursements upon vouchers signed by a person authorized by the retirement board.(5) All banks and custodians which receive and hold securities and investments for the retirement system may hold and evidence such securities by book entry account rather than obtaining and retaining the original certificate, indenture, or governing instrument for such security.Source   Laws 1951, c. 274, § 9, p. 915;   Laws 1988, LB 1142, § 11;   Laws 1995, LB 505, § 3;   Laws 1996, LB 604, § 11;   R.S.Supp.,1995, § 79-1040;   Laws 1996, LB 900, § 621;   Laws 1997, LB 623, § 30;   Laws 1998, LB 497, § 12;  Laws 2006, LB 1024, § 66;  Laws 2016, LB447, § 25;  Laws 2021, LB147, § 20.   Effective Date: May 27, 2021
NE Code § 79-987.01 (2021)
2021 Nebraska Revised Statutes|Chapter 79 - Schools|79-987.01 - Contract of employment; contents.

79-987.01.  Contract of employment; contents.Beginning January 1, 2023, every contract of employment with an employee shall specify (1) the contractual period of employment, including the starting and ending dates of the contract, and (2) that it is subject to the provisions of the Class V School Employees Retirement Act.Source  Laws 2021, LB147, § 23.   Effective Date: May 27, 2021
NE Code § 79-988 (2021)
2021 Nebraska Revised Statutes|Chapter 79 - Schools|79-988 - Employees retirement system; membership; separate employment; effect.

79-988.  Employees retirement system; membership; separate employment; effect.(1) Any person who becomes an employee on or after the date of establishment of the retirement system shall become a member of the retirement system upon employment. Contributions by such employee under the Class V School Employees Retirement Act shall begin with the first payroll period after becoming a member, and creditable service shall then begin to accrue.(2) Any employee who qualifies for membership in the retirement system pursuant to subsection (1) of this section may not be disqualified for membership in the retirement system solely because such employee also maintains separate employment which qualifies the employee for membership in another public retirement system, nor may membership in this retirement system disqualify such an employee from membership in another public retirement system solely by reason of separate employment which qualifies such employee for membership in this retirement system.Source   Laws 1951, c. 274, § 10, p. 916;   Laws 1953, c. 308, § 2, p. 1028;   Laws 1979, LB 391, § 3;   Laws 1982, LB 131, § 2;   Laws 1987, LB 298, § 6;   R.S.1943, (1994), § 79-1041;   Laws 1996, LB 900, § 623;   Laws 1997, LB 624, § 23;   Laws 1998, LB 497, § 13.