Nebraska Administrative Code › Topic - REVENUE, DEPARTMENT OF › Title 370 - Nebraska Lottery Regulations › Chapter 1600 - MEGA MILLIONS › Section 370-1600-1605 - PRIZE PAYMENT

Current through June 17, 2024
1605.01 Grand Prize
1605.01A The prize money allocated from the
				current Mega Millions prize pool for the Grand Prize, plus any previous
				portions of prize money allocated to the Grand Prize category in which no
				matching tickets were sold will be divided equally among all jackpot prize
				winners in all participating lotteries. The annuity Grand Prize will be paid in
				26 annual installments. If a Mega Millions Lottery law or rule requires that
				the official advertised annuity prize amount shall be the basis or a factor for
				determining the amount to be awarded for the Mega Millions Grand Prize, then it
				shall be funded by the Selling Lotteries in accordance with the formula set by
				the Mega Millions lotteries. The Mega Millions lotteries may set a minimum
				guaranteed annuity Grand Prize amount, which shall be advertised by the selling
				lotteries as the starting guaranteed annuity Grand Prize amount.
1605.01B If in any Mega Millions drawing
				there are no Mega Millions plays which qualify for the Grand Prize category,
				the portion of the prize fund allocated to such Grand Prize category shall
				remain in the jackpot prize category and be added to the amount allocated for
				the Grand Prize category in the next consecutive Mega Millions
				drawing.
1605.01C Unless there is a
				different Party Lottery rule, Grand prizes shall be paid, at the election of
				the player made no later than 60 days after the player becomes entitled to the
				prize, with either a per winner annuity or cash payment. If the payment
				election is not made by the player within 60 days after the player becomes
				entitled to the prize, then the prize shall be paid as an annuity prize. The
				election to take the cash payment may be made within 60 days after the player
				becomes entitled to the prize. An election made after the winner becomes
				entitled to the prize is final and cannot be revoked, withdrawn or otherwise
				changed.
1605.01D In the event of a
				prize winner who selects the cash value option, the prize winner's share will
				be paid in a single payment upon completion of internal validation procedures.
				The cash option amount shall be determined by the Product Group.
1605.01E Annual payment option jackpot prizes
				shall be paid in 26 annual installments upon completion of internal validation
				procedures. The initial payment shall be paid upon completion of internal
				validation procedures. The subsequent 25 payments shall be paid annually at a
				time established by the Product Group.
1605.01F If individual shares of the cash
				held to fund an annuity is less than $250,000 or another amount if set by the
				Game Rules, the Product Group, in its sole discretion, may elect to pay the
				winners their share of the cash held in the Grand Prize pool. All annuitized
				prizes shall be paid annually in twenty-six (26) payments with the initial
				payment being made in cash, to be followed by twenty-five (25) payments funded
				by the annuity. Prize payments may be rounded down to the nearest one thousand
				dollars ($1,000).
1605.01G Funds
				for the initial payment of an annuitized prize or the lump sum cash prize shall
				be made available by MUSL for payment by the Party Lottery on a schedule
				approved by the Product Group. If necessary, when the due date for the payment
				of a prize occurs before the receipt of funds in the prize pool trust
				sufficient to pay the prize, the transfer of funds for the payment of the full
				lump sum cash amount may be delayed pending receipt of funds from the Party
				Lotteries or other lotteries participating in the Mega Millions Game. A Party
				Lottery may elect to make the initial payment from its own funds after
				validation, with notice to MUSL.
1605.01H In the event of the death of a
				lottery winner sold by a Party Lottery during the annuity payment period, the
				MUSL Finance & Audit Committee, in its sole discretion excepting a
				discretionary review by the Product Group, upon the petition of the estate of
				the lottery winner (the "Estate") to the lottery of the jurisdiction in which
				the deceased lottery winner purchased the winning ticket, and subject to
				federal, state, district or territorial applicable laws, may accelerate the
				payment of all of the remaining lottery proceeds to the Estate. If such a
				determination is made, then securities and/or cash held to fund the deceased
				lottery winner's annuitized prize may be distributed to the Estate. The
				identification of the securities to fund the annuitized prize shall be at the
				sole discretion of the Finance & Audit Committee or the Product
				Group.