Nebraska Administrative Code
Topic - PUBLIC EMPLOYEES RETIREMENT SYSTEMS
Title 303 - PUBLIC EMPLOYEES RETIREMENT BOARD
Chapter 24 - BENEFIT OPTIONS AND DISTRIBUTION RULES
Section 303-24-006 - Minimum Distribution Rules

Universal Citation: 303 NE Admin Rules and Regs ch 24 ยง 006
Current through March 20, 2024

To the extent that provisions of the State Employees Retirement Act, the County Employees Retirement Act, the School Employees Retirement Act, the Nebraska State Patrol Retirement Act, and the Judges Retirement Act do not impose more restrictive distribution requirements, the following rules shall apply to ensure that retirement benefit distributions to members and their beneficiaries comply with the minimum distribution requirements of section 401(a)(9) of the Internal Revenue Code. Furthermore, in order to comply with the minimum distribution incidental benefit rule set forth in Internal Revenue Service regulations, the Board may restrict a member's choice of annuity options as necessary to ensure that plan distributions are for the primary benefit of the member and any payments to beneficiaries are merely incidental.

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