Nebraska Administrative Code
Topic - PUBLIC EMPLOYEES RETIREMENT SYSTEMS
Title 303 - PUBLIC EMPLOYEES RETIREMENT BOARD
Chapter 4 - REFUND AND TERMINATION BENEFIT PROCEDURES
Section 303-4-002 - Definitions
Current through March 20, 2024
002.01 The definitions provided in Nebraska statutory law for each plan shall apply to the provisions herein as they relate to that plan. In addition to those definitions, the following definitions shall apply:
002.02 RESERVED
002.03 RESERVED
002.04 RESERVED
002.05 Refund or Termination Benefit
Refund or Termination Benefit means the benefit distributed, whether all or part of a member's retirement account in whatever form it may be lawfully made, when that distribution occurs prior to the date on which the member achieves the earliest date whereby the member qualifies for a retirement benefit.
002.06 Termination Date
Termination Date means the date on which the member experiences a bona fide separation from service of employment with the member's employer, the date of which separation is determined by the employer; provided, however, with respect to members of the School Plan, (1) the date of such separation from service shall be determined by the end of the member's contractual agreement or, if there is no contract or only partial fulfillment of a contract, by the employer, and (2) the termination date for a member who is compensated for a full contractual period shall not be deemed to occur until the end date of the contract.
