79-932 Retirement; deferment of payment; board; duties. - Nebraska Statutes

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Statutes > Nebraska > Chapter79 > 79-932

79-932. Retirement; deferment of payment; board; duties.(1) Payment of any benefit provided under the retirement system may not be deferred later than April 1 of the year following the year in which the member has both attained at least age seventy and one-half years and terminated his or her employment with the school system.(2) The board shall make reasonable efforts to locate the member or the member's beneficiary and distribute benefits by the required beginning date as specified by section 401(a)(9) of the Internal Revenue Code and the regulations issued thereunder. If the board is unable to make such a distribution, the benefit shall be distributed pursuant to the Uniform Disposition of Unclaimed Property Act and no amounts may be applied to increase the benefits any member would otherwise receive under the School Employees Retirement Act. SourceLaws 1945, c. 219, § 22, p. 645; R.S.Supp.,1947, § 79-2922; Laws 1949, c. 256, § 455, p. 847; Laws 1951, c. 291, § 3, p. 966; Laws 1969, c. 735, § 5, p. 2779; Laws 1975, LB 44, § 1; Laws 1979, LB 391, § 6; Laws 1981, LB 463, § 1; Laws 1982, LB 287, § 4; Laws 1986, LB 311, § 17; Laws 1987, LB 296, § 3; Laws 1987, LB 549, § 6; R.S.1943, (1994), § 79-1521; Laws 1996, LB 900, § 567; Laws 2003, LB 451, § 19. Cross ReferencesUniform Disposition of Unclaimed Property Act, see section 69-1329.

State Codes and Statutes

Statutes > Nebraska > Chapter79 > 79-932

79-932. Retirement; deferment of payment; board; duties.(1) Payment of any benefit provided under the retirement system may not be deferred later than April 1 of the year following the year in which the member has both attained at least age seventy and one-half years and terminated his or her employment with the school system.(2) The board shall make reasonable efforts to locate the member or the member's beneficiary and distribute benefits by the required beginning date as specified by section 401(a)(9) of the Internal Revenue Code and the regulations issued thereunder. If the board is unable to make such a distribution, the benefit shall be distributed pursuant to the Uniform Disposition of Unclaimed Property Act and no amounts may be applied to increase the benefits any member would otherwise receive under the School Employees Retirement Act. SourceLaws 1945, c. 219, § 22, p. 645; R.S.Supp.,1947, § 79-2922; Laws 1949, c. 256, § 455, p. 847; Laws 1951, c. 291, § 3, p. 966; Laws 1969, c. 735, § 5, p. 2779; Laws 1975, LB 44, § 1; Laws 1979, LB 391, § 6; Laws 1981, LB 463, § 1; Laws 1982, LB 287, § 4; Laws 1986, LB 311, § 17; Laws 1987, LB 296, § 3; Laws 1987, LB 549, § 6; R.S.1943, (1994), § 79-1521; Laws 1996, LB 900, § 567; Laws 2003, LB 451, § 19. Cross ReferencesUniform Disposition of Unclaimed Property Act, see section 69-1329.

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State Codes and Statutes

Statutes > Nebraska > Chapter79 > 79-932

79-932. Retirement; deferment of payment; board; duties.(1) Payment of any benefit provided under the retirement system may not be deferred later than April 1 of the year following the year in which the member has both attained at least age seventy and one-half years and terminated his or her employment with the school system.(2) The board shall make reasonable efforts to locate the member or the member's beneficiary and distribute benefits by the required beginning date as specified by section 401(a)(9) of the Internal Revenue Code and the regulations issued thereunder. If the board is unable to make such a distribution, the benefit shall be distributed pursuant to the Uniform Disposition of Unclaimed Property Act and no amounts may be applied to increase the benefits any member would otherwise receive under the School Employees Retirement Act. SourceLaws 1945, c. 219, § 22, p. 645; R.S.Supp.,1947, § 79-2922; Laws 1949, c. 256, § 455, p. 847; Laws 1951, c. 291, § 3, p. 966; Laws 1969, c. 735, § 5, p. 2779; Laws 1975, LB 44, § 1; Laws 1979, LB 391, § 6; Laws 1981, LB 463, § 1; Laws 1982, LB 287, § 4; Laws 1986, LB 311, § 17; Laws 1987, LB 296, § 3; Laws 1987, LB 549, § 6; R.S.1943, (1994), § 79-1521; Laws 1996, LB 900, § 567; Laws 2003, LB 451, § 19. Cross ReferencesUniform Disposition of Unclaimed Property Act, see section 69-1329.