Nebraska Administrative Code
Topic - PUBLIC EMPLOYEES RETIREMENT SYSTEMS
Title 303 - PUBLIC EMPLOYEES RETIREMENT BOARD
Chapter 19 - EMPLOYER AUDIT REQUIREMENTS
Section 303-19-002 - Definitions
Current through March 20, 2024
002.01 Employee Contribution means the dollar amount statutorily required to be deducted from an employee's compensation for deposit into a retirement system.
002.02 Employer
Employer means the public entity required to contribute to the Nebraska School Retirement System, the Nebraska State Employees Retirement System, the Retirement System for Nebraska Counties, the Nebraska Judges Retirement System, or the Nebraska State Patrol Retirement System on behalf of its employees who are covered by such retirement system.
002.03 Employer Contribution
Employer Contribution means the dollar amount required to be deposited into a retirement system by an employer to fund member benefits.
002.04 Excess Contribution
Excess Contribution means an employee contribution or employer contribution, or both, that is (a) greater than the statutorily mandated deduction from compensation, (b) greater than the statutorily mandated matching contribution required of an employer, (c) submitted on behalf of an employee that is ineligible to participate in the retirement system, or (d) improperly calculated on wages or salary representing compensation for unused sick leave or unused vacation leave converted to cash payments (School, Judges and Patrol Retirement Systems only), insurance premiums converted into cash payments, reimbursement for expenses incurred, fringe benefits, or bonuses for services not actually rendered, including, but not limited to, early retirement inducements, cash awards, and severance pay, except for retroactive salary payments paid pursuant to court order, arbitration, or litigation and grievance settlements.
002.05 Insufficient Contribution
Insufficient Contribution means an employee contribution or employer contribution, or both, which is (a) less than the statutorily mandated deduction from compensation, (b) less than the statutorily mandated matching contribution required of an employer, (c) not timely remitted, (d) not remitted due to administrative errors on the part of the employer, (e) not remitted due to the failure of the employer to enroll the employee in the retirement system when such employee was required to be enrolled, or 2. (f) due because of a retroactive salary payment paid pursuant to court order, arbitration, or litigation and grievance settlements.
002.06 Retirement System
Retirement System means the Nebraska School Retirement System, the Nebraska State Employees Retirement System, the Retirement System for Nebraska Counties, the Nebraska Judges Retirement System, or the Nebraska State Patrol Retirement System, as appropriate under the circumstances.
