2006 Nebraska Revised Statutes - § 23-2315 — Retirement system; retirement; when; conditions; application for benefits; deferment of payment; board; duties.
Section 23-2315Retirement system; retirement; when; conditions; application for benefits; deferment of payment; board; duties.
(1) Upon filing an application for benefits with the board, an employee may elect to retire at any time after attaining the age of fifty-five or an employee may retire as a result of disability at any age.
(2) The member shall specify in the application for benefits the manner in which he or she wishes to receive the retirement benefit under the options provided by the County Employees Retirement Act. Payment under the application for benefits shall be made (a) for annuities, no sooner than the annuity start date, and (b) for other distributions, no sooner than the date of final account value.
(3) 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 employee has both attained at least age seventy and one-half years and terminated his or her employment with the county.
(4) 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 County Employees Retirement Act.
Source:
- Laws 1965, c. 94, § 15, p. 407
Laws 1975, LB 47, § 2
Laws 1979, LB 391, § 1
Laws 1982, LB 287, § 1
Laws 1986, LB 311, § 5
Laws 1987, LB 296, § 1
Laws 1987, LB 60, § 1
Laws 1994, LB 833, § 7
Laws 1996, LB 1076, § 3
Laws 2003, LB 451, § 6
- Uniform Disposition of Unclaimed Property Act,see section 69-1329.
~Revised Statutes Cumulative Supplement, 2006
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