reglab/statecodes huggingface dataset:
2023 Nebraska Revised Statutes › Chapter 79 - Schools › 79-951 - Retirement; disability; conditions; application; medical examination; waiver.

79-951.
Retirement; disability; conditions; application; medical examination; waiver.
(1) Any member, disregarding the length of service, may be retired as a result of disability either upon his or her own application or upon the application of his or her employer or any person acting in his or her behalf. Before any member may be so retired, a medical examination shall be made at the expense of the retirement system, which examination shall be conducted by a disinterested physician legally authorized to practice medicine under the laws of the state in which he or she practices, such physician to be selected by the retirement board, and the physician shall certify to the board that the member should be retired because he or she suffers from an inability to engage in any substantially gainful activity by reason of any medically determinable physical or mental impairment which was initially diagnosed or became disabling while the member was an active participant in the plan and which can be expected to result in death or to be of long-continued and indefinite duration. The medical examination may be waived if, in the judgment of the retirement board, extraordinary circumstances exist which preclude substantial gainful activity by the member. Such circumstances shall include hospice placement or similar confinement for a terminal illness or injury. The application for disability retirement shall be made within one year of termination of employment.
(2) The retirement board may adopt and promulgate rules and regulations and prescribe the necessary forms to carry out this section.
Source
Laws 1945, c. 219, § 24, p. 646;
R.S.Supp.,1947, § 79-2924;
Laws 1949, c. 256, § 457, p. 848;
Laws 1963, c. 495, § 3, p. 1584;
Laws 1975, LB 50, § 3;
Laws 1987, LB 549, § 9;
Laws 1991, LB 549, § 37;
R.S.1943, (1994), § 79-1523;
Laws 1996, LB 900, § 586;
Laws 1996, LB 1076, § 27;
Laws 1997, LB 623, § 25;
Laws 1998, LB 1191, § 55;
Laws 1999, LB 538, § 2;
Laws 2000, LB 1192, § 15;
Laws 2004, LB 1097, § 28;
Laws 2010, LB950, § 16;
Laws 2017, LB415, § 31.
Annotations
If the Public Employees Retirement Board's medical examiner opines that the member is not disabled, the member may offer other medical evidence. Shepherd v. Chambers, 281 Neb. 57, 794 N.W.2d 678 (2011).
Subsection (1) of this section ordinarily requires expert medical evidence to establish a disability. Shepherd v. Chambers, 281 Neb. 57, 794 N.W.2d 678 (2011).
2023 Nebraska Revised Statutes › Chapter 79 - Schools › 79-952 - Retirement; disability; allowance; formula.

79-952.
Retirement; disability; allowance; formula.
Upon retirement for disability, a member shall receive a disability retirement allowance which shall consist of a savings annuity and a service annuity computed in the manner specified in section 79-933 or, in lieu thereof, the formula annuity computed in the manner specified in section 79-934 without the reduction to the actuarial equivalent of the formula annuity deferred to the sixty-fifth birthday of the member.
Source
Laws 1945, c. 219, § 25, p. 646;
R.S.Supp.,1947, § 79-2925;
Laws 1949, c. 256, § 458, p. 848;
Laws 1975, LB 50, § 4;
R.S.1943, (1994), § 79-1524;
Laws 1996, LB 900, § 587.
2023 Nebraska Revised Statutes › Chapter 79 - Schools › 79-953 - Retirement; disability; annual medical examination; refusal; effect.

79-953.
Retirement; disability; annual medical examination; refusal; effect.
The retirement board may require any disability beneficiary who has not yet attained the age of sixty-five years to undergo a medical examination once each year. Such an examination shall be made (1) at the place of residence of the beneficiary or other place mutually agreed upon, (2) at the expense of the retirement system, and (3) by a physician, legally authorized to practice medicine under the laws of the state in which he or she practices, designated by the retirement board. If any disability beneficiary who has not yet attained the age of sixty-five years willfully refuses to submit to at least one such medical examination in any fiscal year, his or her allowance may be discontinued until his or her withdrawal of such refusal. If such refusal continues for one year, his or her rights in and to his or her disability retirement allowance may be revoked by the retirement board.
Source
Laws 1945, c. 219, § 26, p. 647;
R.S.Supp.,1947, § 79-2926;
Laws 1949, c. 256, § 459, p. 849;
R.S.1943, (1994), § 79-1525;
Laws 1996, LB 900, § 588;
Laws 1997, LB 623, § 26.
2023 Nebraska Revised Statutes › Chapter 79 - Schools › 79-954 - Retirement; disability beneficiary; restoration to active service; effect.

79-954.
Retirement; disability beneficiary; restoration to active service; effect.
If a disability beneficiary under the age of sixty-five years is restored to active service as a school employee or if the examining physician certifies that the person is no longer disabled for service as a school employee, the disability retirement allowance shall cease. If the beneficiary again becomes a school employee, he or she shall become a member of the retirement system. Any prior service certificate, on the basis of which his or her creditable service was computed at the time of his or her retirement for disability, shall be restored to full force and effect upon his or her again becoming a member of such retirement system.
Source
Laws 1945, c. 219, § 27, p. 647;
R.S.Supp.,1947, § 79-2927;
Laws 1949, c. 256, § 460, p. 849;
R.S.1943, (1994), § 79-1526;
Laws 1996, LB 900, § 589;
Laws 2009, LB449, § 1;
Laws 2013, LB553, § 7;
Laws 2016, LB447, § 12;
Laws 2017, LB415, § 32.
2023 Nebraska Revised Statutes › Chapter 79 - Schools › 79-955 - Termination of membership; accumulated contributions; return.

79-955.
Termination of membership; accumulated contributions; return.
Upon termination of employment for any cause other than death or retirement, the retirement board shall, upon the member's demand, terminate his or her membership in the retirement system and cause to be paid to such member the accumulated contributions standing to the credit of his or her individual account in the School Retirement Fund. Any member who attains or has attained membership in another Nebraska state or school retirement system authorized by the Legislature and who elects not to be or remain a member of the School Employees Retirement System of the State of Nebraska shall have his or her accumulated contributions returned to him or her forthwith.
Source
Laws 1945, c. 219, § 28, p. 647;
R.S.Supp.,1947, § 79-2928;
Laws 1949, c. 256, § 461, p. 849;
Laws 1965, c. 532, § 1, p. 1676;
Laws 1967, c. 555, § 1, p. 1825;
Laws 1969, c. 735, § 7, p. 2780;
Laws 1976, LB 30, § 3;
Laws 1988, LB 1170, § 4;
R.S.1943, (1994), § 79-1527;
Laws 1996, LB 900, § 590;
Laws 1997, LB 624, § 20;
Laws 1998, LB 1191, § 56;
Laws 2011, LB509, § 31.
2023 Nebraska Revised Statutes › Chapter 79 - Schools › 79-957 - Termination of employment before retirement date; certified service record; statement of accumulated contributions; termination benefits, when.

79-957.
Termination of employment before retirement date; certified service record; statement of accumulated contributions; termination benefits, when.
Upon termination of employment for any reason other than death, before qualifying for retirement under section 79-931, the retirement board shall, upon request, issue the member a certified service record and statement of accumulated contributions and retain such member's accumulated contributions. In such event, no further contributions shall be required, regular interest on accumulated contributions shall continue to be credited to his or her account, and none of the member's retirement rights shall be canceled. At age sixty-five or after thirty-five years of creditable service, such member shall become eligible to receive the retirement allowance provided in sections 79-933 and 79-934. Any deferred formula annuity provided shall be based on the member's compensation preceding the date of termination as if the member had retired on his or her date of termination. At the option of the terminating member, and if such member has completed at least five but less than thirty-five years of creditable service, such annuity may commence at any time after such member attains the age of sixty years and before his or her sixty-fifth birthday and shall be reduced by the percentages prescribed in section 79-934. Such election by the terminating member may be made at any time prior to the commencement of the annuity payments.
Source
Laws 1945, c. 219, § 30, p. 648;
R.S.Supp.,1947, § 79-2930;
Laws 1949, c. 256, § 463, p. 850;
Laws 1975, LB 56, § 2;
Laws 1976, LB 33, § 1;
Laws 1986, LB 325, § 10;
Laws 1987, LB 549, § 11;
Laws 1988, LB 160, § 3;
Laws 1991, LB 549, § 38;
R.S.1943, (1994), § 79-1529;
Laws 1996, LB 900, § 592;
Laws 1996, LB 1076, § 28;
Laws 1997, LB 624, § 21.
2023 Nebraska Revised Statutes › Chapter 79 - Schools › 79-958 - Employee; employer; required deposits and contributions.

79-958.
Employee; employer; required deposits and contributions.
(1) Beginning on September 1, 2012, for the purpose of providing the funds to pay for formula annuities, every employee shall be required to deposit in the School Retirement Fund nine and seventy-eight hundredths percent of compensation. Such deposits shall be transmitted at the same time and in the same manner as required employer contributions.
(2) For the purpose of providing the funds to pay for formula annuities, every employer shall be required to deposit in the School Retirement Fund one hundred one percent of the required contributions of the school employees of each employer. Such deposits shall be transmitted to the retirement board at the same time and in the same manner as such required employee contributions.
(3) The employer shall pick up the member contributions required by this section for all compensation paid on or after January 1, 1986, and the contributions so picked up shall be treated as employer contributions pursuant to section 414(h)(2) of the Internal Revenue Code in determining federal tax treatment under the code and shall not be included as gross income of the member until such time as they are distributed or made available. The contributions, although designated as member contributions, shall be paid by the employer in lieu of member contributions. The employer shall pay these member contributions from the same source of funds which is used in paying earnings to the member. The employer shall pick up these contributions by a compensation deduction through a reduction in the cash compensation of the member. Member contributions picked up shall be treated for all purposes of the School Employees Retirement Act in the same manner and to the same extent as member contributions made prior to the date picked up.
(4) The employer shall pick up the member contributions made through irrevocable payroll deduction authorizations pursuant to sections 79-921 and 79-933.03 to 79-933.06, and the contributions so picked up shall be treated as employer contributions in the same manner as contributions picked up under subsection (3) of this section.
Source
Laws 1945, c. 219, § 32, p. 649;
R.S.Supp.,1947, § 79-2932;
Laws 1949, c. 256, § 465, p. 851;
Laws 1951, c. 291, § 6, p. 968;
Laws 1959, c. 414, § 2, p. 1388;
Laws 1967, c. 546, § 9, p. 1806;
Laws 1971, LB 987, § 24;
Laws 1984, LB 457, § 3;
Laws 1985, LB 353, § 3;
Laws 1986, LB 325, § 11;
Laws 1988, LB 160, § 4;
Laws 1988, LB 1170, § 6;
Laws 1991, LB 549, § 39;
Laws 1994, LB 833, § 33;
Laws 1995, LB 574, § 80;
Laws 1996, LB 700, § 10;
R.S.Supp.,1995, § 79-1531;
Laws 1996, LB 900, § 593;
Laws 1997, LB 623, § 27;
Laws 1998, LB 1191, § 57;
Laws 2001, LB 408, § 17;
Laws 2002, LB 407, § 35;
Laws 2005, LB 503, § 10;
Laws 2007, LB596, § 2;
Laws 2009, LB187, § 1;
Laws 2011, LB382, § 1;
Laws 2013, LB263, § 19;
Laws 2013, LB553, § 8;
Laws 2017, LB415, § 33.
2023 Nebraska Revised Statutes › Chapter 79 - Schools › 79-959 - Account of member; credit with regular interest.

79-959.
Account of member; credit with regular interest.
The account of each member in the School Retirement Fund shall be credited with regular interest earned monthly, quarterly, semiannually, or annually as the retirement board may direct.
Source
Laws 1945, c. 219, § 33, p. 649;
R.S.Supp.,1947, § 79-2933;
Laws 1949, c. 256, § 466, p. 851;
Laws 1967, c. 546, § 10, p. 1807;
Laws 1969, c. 735, § 10, p. 2781;
Laws 1974, LB 905, § 7;
Laws 1986, LB 311, § 19;
Laws 1988, LB 1170, § 7;
R.S.1943, (1994), § 79-1532;
Laws 1996, LB 900, § 594.
2023 Nebraska Revised Statutes › Chapter 79 - Schools › 79-960 - Employer; deduction; remittances; fees; interest charge.

79-960.
Employer; deduction; remittances; fees; interest charge.
Every employer shall deduct and withhold an amount pursuant to section 79-958 from the compensation as a school employee of each member on each payroll period after such school employee becomes a member of the retirement system. The employer shall transmit periodically, as directed by the retirement board and in such form as is approved by the retirement board, such amounts and any other information required by the board. The board shall immediately transmit to the State Treasurer all payments received. The board may charge the employer a late administrative processing fee not to exceed twenty-five dollars if the information and money required by section 79-958 are delinquent or are not timely received by the board. In addition, the board may charge the 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 board shall charge the 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 school employee deprived of interest by the delay.
Source
Laws 1945, c. 219, § 34, p. 649;
R.S.Supp.,1947, § 79-2934;
Laws 1949, c. 256, § 467, p. 851;
Laws 1951, c. 291, § 7, p. 969;
Laws 1967, c. 546, § 11, p. 1807;
Laws 1984, LB 457, § 4;
Laws 1986, LB 325, § 12;
Laws 1988, LB 160, § 5;
Laws 1988, LB 1170, § 8;
Laws 1991, LB 549, § 40;
Laws 1994, LB 1306, § 3;
R.S.1943, (1994), § 79-1533;
Laws 1996, LB 900, § 595;
Laws 1996, LB 1076, § 29;
Laws 1999, LB 272, § 92;
Laws 2000, LB 1192, § 17;
Laws 2002, LB 407, § 36.
2023 Nebraska Revised Statutes › Chapter 79 - Schools › 79-962 - Contract of employment; contents.

79-962.
Contract of employment; contents.
Every contract of employment with a school 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 School Employees Retirement Act.
Source
Laws 1945, c. 219, § 36, p. 650;
R.S.Supp.,1947, § 79-2936;
Laws 1949, c. 256, § 469, p. 852;
R.S.1943, (1994), § 79-1535;
Laws 1996, LB 900, § 597;
Laws 1997, LB 347, § 27;
Laws 2013, LB263, § 20.
2023 Nebraska Revised Statutes › Chapter 79 - Schools › 79-963 - Director; employer and employee; furnish information.

79-963.
Director; employer and employee; furnish information.
Every employer and school employee shall send to the director of the Nebraska Public Employees Retirement Systems, as specified in section 79-906, upon request and in the manner required by the director, such information as he or she may require (1) for the identification of school employees and (2) for the determination of the membership of the retirement system and the obligations of the employer and school employee to the retirement system.
Source
Laws 1945, c. 219, § 37, p. 650;
R.S.Supp.,1947, § 79-2937;
Laws 1949, c. 256, § 470, p. 852;
Laws 1951, c. 293, § 4, p. 972;
Laws 1969, c. 735, § 11, p. 2782;
Laws 1988, LB 1170, § 9;
Laws 1991, LB 549, § 41;
R.S.1943, (1994), § 79-1536;
Laws 1996, LB 900, § 598;
Laws 2000, LB 1192, § 18;
Laws 2002, LB 407, § 37.
2023 Nebraska Revised Statutes › Chapter 79 - Schools › 79-964 - Employer; pay to board; withholding of excess deduction.

79-964.
Employer; pay to board; withholding of excess deduction.
Every employer shall pay to the retirement board the required deposits made by every member in the service of such employer. No employer shall, without the consent of the member, withhold or deduct from any member's compensation on any payroll any amount in excess of the required deduction for the period covered by such payroll.
Source
Laws 1956, c. 219, § 38, p. 650;
R.S.Supp.,1947, § 79-2938;
Laws 1949, c. 256, § 471, p. 852;
Laws 1976, LB 30, § 4;
R.S.1943, (1994), § 79-1537;
Laws 1996, LB 900, § 599.
2023 Nebraska Revised Statutes › Chapter 79 - Schools › 79-965 - Payment of compensation less required deductions; discharge of claims for service.

79-965.
Payment of compensation less required deductions; discharge of claims for service.
Notwithstanding any other law, rule, or regulation affecting the salary, pay, compensation, or tenure of any member, payment of such salary, pay, or compensation to such member, less the required deductions provided for in the School Employees Retirement Act, shall be a full and complete discharge and acquittance of all claims for service rendered by such member during the period covered by such payment.
Source
Laws 1945, c. 219, § 39, p. 651;
R.S.Supp.,1947, § 79-2939;
Laws 1949, c. 256, § 472, p. 853;
R.S.1943, (1994), § 79-1538;
Laws 1996, LB 900, § 600.
2023 Nebraska Revised Statutes › Chapter 79 - Schools › 79-967 - Board; determine rates of benefits; adjustments; distribution of gains and savings.

79-967.
Board; determine rates of benefits; adjustments; distribution of gains and savings.
As often as may be necessary, the retirement board shall cause to be made a thorough investigation of the several funds or account of the retirement system for the purpose of determining the rates at which the benefits will be granted. It shall make adjustments in such rates as, upon recommendation of the actuary, may appear to be proper for maintaining solvency of the several funds or account. No revision of rates shall affect adversely the rights of any beneficiary under an application made prior to such revision. The retirement board shall, from time to time, order and make such distribution of gains and savings to the several funds or account as it may deem equitable.
Source
Laws 1945, c. 219, § 43, p. 652;
R.S.Supp.,1947, § 79-2943;
Laws 1949, c. 256, § 476, p. 854;
Laws 1969, c. 736, § 2, p. 2787;
Laws 1988, LB 1170, § 11;
R.S.1943, (1994), § 79-1542;
Laws 1996, LB 900, § 602;
Laws 1998, LB 1191, § 58;
Laws 2002, LB 407, § 40.
2023 Nebraska Revised Statutes › Chapter 79 - Schools › 79-968 - Retirement system; assets; funds; account; investment.

79-968.
Retirement system; assets; funds; account; investment.
All assets of the retirement system shall be credited, according to the purpose for which they are held, to the Expense Fund, to the School Retirement Fund, or to the Contingent Account. Any money in the account or 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 1945, c. 219, § 46, p. 653;
R.S.Supp.,1947, § 79-2946;
Laws 1949, c. 256, § 479, p. 855;
Laws 1965, c. 530, § 5, p. 1668;
Laws 1967, c. 546, § 12, p. 1808;
Laws 1969, c. 584, § 88, p. 2401;
Laws 1988, LB 1170, § 12;
Laws 1993, LB 292, § 4;
Laws 1994, LB 1066, § 90;
R.S.1943, (1994), § 79-1545;
Laws 1996, LB 900, § 603;
Laws 2002, LB 407, § 41.
Cross References
Nebraska Capital Expansion Act, see section 72-1269.
Nebraska State Funds Investment Act, see section 72-1260.
2023 Nebraska Revised Statutes › Chapter 79 - Schools › 79-969 - Beneficiary designation; order of priority.

79-969.
Beneficiary designation; order of priority.
(1) Except as provided in section 42-1107, 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 on file with the board;
(b) To the spouse married to the member on the member's date of death if there is no surviving designated beneficiary on file with the board; 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 on file with the board.
(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, § 11.
2023 Nebraska Revised Statutes › Chapter 79 - Schools › 79-971 - Accumulated contributions; use.

79-971.
Accumulated contributions; use.
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.
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.
2023 Nebraska Revised Statutes › Chapter 79 - Schools › 79-972.01 - School Retirement Fund; created; use.

79-972.01.
School Retirement Fund; created; use.
The School Retirement Fund is created. The required deposits of an employer, the state, and the employees shall be credited to the fund and all savings annuities, service annuities, and formula annuities shall be paid from the fund as provided in the School Employees Retirement Act. Subfunds may be established as necessary. Any unexpended balance existing on June 30, 2002, in the School Employers Deposit Account, the Service Annuity Account, the School Employees Savings Account, the Annuity Reserve Account, and the School Employees Retirement System Reserve Fund shall be transferred to the School Retirement Fund.
Source
Laws 2002, LB 407, § 42;
Laws 2021, LB147, § 6.
2023 Nebraska Revised Statutes › Chapter 79 - Schools › 79-973 - Contingent Account; created; use.

79-973.
Contingent Account; created; use.
A Contingent Account is created (1) to facilitate the crediting of regular interest on the amounts in the School Retirement Fund, (2) to fund the adjusted supplemental retirement benefit provided by section 79-947, and (3) to provide an account to cover any special requirements of the School Retirement Fund or the Expense Fund. All income, interest, and dividends derived from the deposits and investments authorized by the School Employees Retirement Act shall be paid into the Contingent Account. The retirement board may accept gifts, devises, and bequests. Any funds which may come into the possession of the retirement system in this manner or which may be transferred from the School Retirement Fund by reason of the lack of a claimant or because of a surplus in any fund or account described in section 79-968, or any other money the disposition of which is not otherwise provided for in the act, shall be credited to the Contingent Account. Any deficit occurring in the School Retirement Fund or in the Expense Fund shall be met by payments to the fund from the Contingent Account. Annually the retirement board shall estimate the amount of money deemed necessary to pay the obligation levied against the Contingent Account, including regular interest. If such amount exceeds the revenue estimated to accrue to the fund for that year, such excess shall be certified to the State Treasurer and shall, on warrant of the Director of Administrative Services, be transferred from funds appropriated by the state for such purpose to the Contingent Account.
Source
Laws 1945, c. 219, § 50, p. 654;
R.S.Supp.,1947, § 79-2950;
Laws 1949, c. 256, § 483, p. 856;
Laws 1965, c. 530, § 8, p. 1669;
Laws 1971, LB 987, § 28;
Laws 1988, LB 1170, § 17;
Laws 1991, LB 549, § 43;
Laws 1993, LB 292, § 5;
R.S.1943, (1994), § 79-1549;
Laws 1996, LB 900, § 608;
Laws 2002, LB 407, § 44.
2023 Nebraska Revised Statutes › Chapter 79 - Schools › 79-974 - Expense Fund; created; use.

79-974.
Expense Fund; created; use.
The Expense Fund is created and is the fund to which shall be credited the proportionate share of administration expense transferred from the Contingent Account at the direction of the retirement board. The Expense 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 board for the proper administration of the School Employees Retirement Act and necessary in connection with the administration and operation of the retirement system. Annually, as soon after July 1 as is practicable, the retirement board shall estimate the amount of money which is deemed necessary to be paid into the Expense Fund for that fiscal year.
Source
Laws 1945, c. 219, § 51, p. 655;
R.S.Supp.,1947, § 79-2951;
Laws 1949, c. 256, § 484, p. 857;
Laws 1971, LB 987, § 29;
Laws 1988, LB 1170, § 18;
R.S.1943, (1994), § 79-1550;
Laws 1996, LB 900, § 609;
Laws 2001, LB 408, § 18;
Laws 2005, LB 364, § 10.
2023 Nebraska Revised Statutes › Chapter 79 - Schools › 79-976 - Investment services; charges; report; state investment officer; duty.

79-976.
Investment services; charges; report; state investment officer; duty.
Any funds of the retirement system available for investment shall be invested by the Nebraska Investment Council pursuant to the Nebraska Capital Expansion Act and the Nebraska State Funds Investment Act. Payment for investment services by the council shall be charged directly against the gross investment returns of the funds. Charges so incurred shall not be a part of the retirement board's annual budget request. The amounts of payment for such services, as of December 31 of each year, shall be reported not later than March 31 of the following year to the council, the retirement board, and the Nebraska Retirement Systems Committee of the Legislature. The report submitted to the committee shall be submitted electronically. All money received by the State Treasurer and the retirement board for the retirement system shall be invested by the state investment officer within thirty-one days after receipt.
Source
Laws 1967, c. 546, § 17, p. 1809;
Laws 1969, c. 584, § 89, p. 2401;
Laws 1986, LB 311, § 21;
Laws 1988, LB 1170, § 20;
Laws 1991, LB 549, § 46;
Laws 1994, LB 1066, § 91;
R.S.1943, (1994), § 79-1556;
Laws 1996, LB 900, § 611;
Laws 2002, LB 407, § 45;
Laws 2012, LB782, § 156.
Cross References
Nebraska Capital Expansion Act, see section 72-1269.
Nebraska State Funds Investment Act, see section 72-1260.
2023 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.
2023 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.
2023 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.
2023 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.
2023 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.
2023 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.
Cross References
Learning Community Reorganization Act, see section 79-4,117.
School Employees Retirement Act, see section 79-901.
2023 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.
2023 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.
2023 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.
2023 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.
2023 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.
2023 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.
2023 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.
2023 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.