2006 Nebraska Revised Statutes - § 81-2027.05 — Annual benefit adjustment; terms, defined.

Section 81-2027.05
Annual benefit adjustment; terms, defined.

For purposes of this section and sections 81-2027.06 and 81-2027.07:

(1) Eligible retiree means (a) a member or beneficiary who has been receiving a retirement benefit for at least five years, which member had at least twenty-five years of creditable service; (b) a member who has been receiving a disability retirement benefit for at least five years pursuant to section 81-2025; or (c) a beneficiary who has been receiving a death benefit pursuant to section 81-2026 for at least five years, and which member's or beneficiary's monthly accrual rate is less than or equal to the minimum accrual rate as determined by section 81-2027.06;

(2) Monthly accrual rate means the eligible retiree's total monthly benefit divided by the number of years of creditable service earned by the retiree or deceased member; and

(3) Total monthly benefit means the total benefit received by an eligible retiree pursuant to the Nebraska State Patrol Retirement Act, previous adjustments made pursuant to section 81-2027.07, or any other provision of Nebraska law which grants a benefit or cost-of-living increase within the act, but total monthly benefit does not include sums received by an eligible retiree from federal sources.

Source:

Laws 1998, LB 532, § 10

~Reissue Revised Statutes of Nebraska