Nebraska Administrative Code
Topic - PUBLIC EMPLOYEES RETIREMENT SYSTEMS
Title 303 - PUBLIC EMPLOYEES RETIREMENT BOARD
Chapter 11 - SERVICE CREDIT
Section 303-11-002 - School Employees Service Credit Determination
Current through March 20, 2024
002.01 Prior to July 1, 1986, at least one hundred twenty (120) full time days of service in a fiscal year shall be the equivalent of one year of service credit. Incremental service credit of one-half year of service credit is earned if a member worked at least one hundred twenty (120) days on a one-half time basis or sixty (60) days on a full time basis. Incremental service credit of less than one year can be earned based upon the number of compensated full time days worked during the period between one-half year to one full year of service, and the member shall be credited with one one-hundred twentieths of a year's service credit for each full time day worked during such period provided the member worked on or after February 13, 1986. If the member did not work on or after February 13, 1986, then the member will not receive any incremental service credit of less than one-half year of service under this subsection.
002.02 Commencing July 1, 1986, and through June 30, 2002, one thousand thirty-two (1,032) hours in one fiscal year shall be the equivalent of one year of service credit. For each fiscal year during which the member provides fewer than one thousand (1,032) hours of compensated service, the member shall be credited with one one-thousand thirty-seconds of a year's service credit for each hour worked. One-half year of service credit is earned if a member worked 516 hours. If a member worked more than 516 hours but less than 1,032 hours, the service credit received is the exact proportion worked. In order to receive any credit at all, a member must have worked a minimum of 516 hours.
002.03 Commencing July 1, 2002, one thousand (1,000) hours or more of compensated service in one fiscal year shall be the equivalent of one year of service credit. For each fiscal year during which the member provides fewer than one thousand (1,000) hours of compensated service, the member shall be credited with one one-thousandth of a year's service credit for each hour worked.
002.04 In no case shall more than one year of service be credited during a fiscal year.
