Chapter 79 — SCHOOLS
1,288 sections in this chapter.
Repealed. Laws 2002, LB 407, § 67.
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[Repealed or reserved.]
Neb. Rev. Stat. § 79-976 Investment services; charges; report; state investment officer; duty.
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Any funds of the retirement system available for investment shall be invested by the Nebraska Investment Council pursuant to the Nebraska Capital Expansion Act and the Nebraska State Funds Investment Act. Payment for investment services by the council shall be charged directly ag…
Neb. Rev. Stat. § 79-977 School district expenditures; not exempt from limitations on spending.
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Any expenditure made by a school district pursuant to sections 79-934, 79-968, and 79-973 as changed by Laws 1993, LB 292, shall be considered a general fund expenditure of the district and shall not be exempt from the growth limitations placed on district spending by the Tax Equ…
Neb. Rev. Stat. § 79-977.01 Limitation of actions.
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Every claim and demand under the School Employees Retirement Act and against the retirement system or the retirement board shall be forever barred unless the action is brought within two years of the time at which the claim accrued.
Neb. Rev. Stat. § 79-977.02 Retirement system contributions, income, property, and rights; how treated.
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All contributions to the retirement system, all property and rights purchased with the contributions, and all investment income attributable to the contributions, property, or rights shall be held in trust by the State of Nebraska for the exclusive benefit of members and their be…
Neb. Rev. Stat. § 79-977.03 Termination of system or contributions; effect.
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Upon termination or partial termination of the retirement system or upon complete discontinuance of contributions under the retirement system, the rights of all affected members to benefits accrued to the date of such termination, partial termination, or discontinuance, to the ex…
Neb. Rev. Stat. § 79-978 Terms, defined.
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For purposes of the Class V School Employees Retirement Act, unless the context otherwise requires: (1) Accumulated contributions means the sum of amounts contributed by a member of the system together with regular interest credited thereon; (2) Actuarial equivalent means the equ…
Neb. Rev. Stat. § 79-978.01 Class V School Employees Retirement Act, how cited.
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Sections 79-978 to 79-9,124 shall be known and may be cited as the Class V School Employees Retirement Act.
Neb. Rev. Stat. § 79-979 Class V school district; employees' retirement system; established.
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(1) Prior to September 13, 1997, in each Class V school district in the State of Nebraska there is hereby established a separate retirement system for all employees of such school district. Such system shall be for the purpose of providing retirement benefits for all employees of…
Neb. Rev. Stat. § 79-979.01 Employees retirement system; transition and transfer of management and general administration; plan; consistent with work plan; powers and duties; costs, fees, and expenses.
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(1)(a) The board of trustees or its designee, the school district, the board of education or its designee, and the retirement board shall enter into a plan for the transition and transfer of management and general administration of the retirement system from the board of trustees…
Neb. Rev. Stat. § 79-979.02 Employees retirement system; immunity from liability, when.
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(1) Beginning September 1, 2024, the State of Nebraska, the retirement board, the Nebraska Public Employees Retirement Systems, and their respective officers, members, employees, and agents shall be indemnified and held harmless by the school district and board of education from …
Neb. Rev. Stat. § 79-980 Employees retirement system; administration; board of trustees; members; terms; vacancy; expenses; liability; termination; effect.
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(1) Until July 1, 2021: (a) At any time that the retirement system consists of only one Class V school district, the general administration of the retirement system is hereby vested in the board of trustees; (b) Beginning July 1, 2016, the board of trustees shall consist of the f…
Neb. Rev. Stat. § 79-981 Employees retirement system; board of trustees; board of education; rules and regulations; transition of administration; employees compensation; records required; investment expenses.
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(1) Until July 1, 2021: (a) The board of trustees shall from time to time establish rules and regulations for the administration of the retirement system and for the transaction of its business and shall appoint an administrator of the retirement system; (b) The board of trustees…
Neb. Rev. Stat. § 79-982 Employees retirement system; board of trustees; meetings; duties; transition; termination.
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(1) Until July 1, 2021, the board of trustees shall (a) hold regular meetings annually and such special meetings at such times as may be deemed necessary, which meetings shall be open to the public, (b) keep a record of all the proceedings of such meetings, (c) prior to January 1…
Neb. Rev. Stat. § 79-982.01 Employees retirement system; board of trustees; board of education; fiduciaries; duties.
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(1) The members of the board of trustees shall have the responsibility for the administration of the retirement system pursuant to section 79-982 until September 1, 2024. (2)(a) Until September 1, 2024, the board of trustees shall be deemed fiduciaries with respect to the adminis…
Neb. Rev. Stat. § 79-982.02 Employees retirement system; administration; transition; investment of assets; plan for transition of investment authority; contents; board of trustees; duties; costs, fees, and expenses; state investment officer; report.
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(1)(a) Beginning January 1, 2017, the board of trustees, the board of education, and beginning September 1, 2024, the retirement board shall not have the duty or authority to invest the assets of the retirement system, and the council and the state investment officer shall have t…
Neb. Rev. Stat. § 79-983 Employees retirement system; administrator; appointment; termination; retirement system staff.
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(1) Until July 1, 2021, the administrator of the retirement system shall be appointed by the board of trustees and approved by the board of education and shall serve at the pleasure of the board of trustees. Beginning July 1, 2021, the administrator of the retirement system shall…
Neb. Rev. Stat. § 79-984 Employees retirement system; actuary; duties.
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(1) Until July 1, 2021, the board of trustees shall contract for the services of an actuary who shall be the technical advisor of the board of trustees on matters regarding the operation of the retirement system. The selection of the actuary shall be approved by the board of educ…
Neb. Rev. Stat. § 79-985 Employees retirement system; legal advisor.
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The board may contract for the services of a legal advisor to the board of trustees until September 1, 2024. Beginning September 1, 2024, the attorney hired by the retirement board pursuant to section 84-1503 shall also advise such board regarding the administration of the retire…
Neb. Rev. Stat. § 79-986 Employees retirement system; State Treasurer as treasurer; when; school district; duties.
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(1) The State Treasurer shall (a) act as treasurer of the retirement system and the official custodian of the cash and securities belonging to such retirement system, (b) provide adequate safe deposit facilities for the preservation of such securities, and (c) hold such cash and …
Neb. Rev. Stat. § 79-987 Employees retirement system; audits; cost; report; school district; reporting and filing requirements.
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(1)(a) Until January 1, 2022, an annual audit of the affairs of the retirement system shall be conducted in each fiscal year. At the option of the board of trustees, such audit may be conducted by a certified public accountant or the Auditor of Public Accounts. (b) Beginning Janu…
Neb. Rev. Stat. § 79-987.01 Contract of employment; contents.
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Beginning January 1, 2023, every contract of employment with an employee shall specify (1) the contractual period of employment, including the starting and ending dates of the contract, and (2) that it is subject to the provisions of the Class V School Employees Retirement Act.
Neb. Rev. Stat. § 79-988 Employees retirement system; membership; separate employment; effect.
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(1) Any person who becomes an employee on or after the date of establishment of the retirement system shall become a member of the retirement system upon employment. Contributions by such employee under the Class V School Employees Retirement Act shall begin with the first payrol…
Repealed. Laws 2016, LB447, § 54.
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[Repealed or reserved.]
Neb. Rev. Stat. § 79-989 Employees retirement system; board of education; records available; administrator; powers and duties; information not considered public record.
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(1) The board of education shall have available records showing the name, address, title, social security number, beneficiary records, annual compensation, sex, date of birth, length of creditable and noncreditable service in hours, standard hours, and contract days, bargaining u…
Neb. Rev. Stat. § 79-990 Employees retirement system; time served in armed forces or on leave of absence; resignation for maternity purposes; effect.
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(1) Any member who is eligible for reemployment on or after December 12, 1994, pursuant to 38 U.S.C. 4301 et seq., as adopted under section 55-161, or who is eligible for reemployment under section 55-160 may pay to the retirement system after the date of his or her return from a…
Neb. Rev. Stat. § 79-991 Employees retirement system; member; prior service credit; how obtained.
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(1) An employee who becomes a member without prior service credit may purchase prior service credit, not to exceed the lesser of ten years or the member's years of membership service, for the period of service the member was employed by a school district or by an educational serv…
Neb. Rev. Stat. § 79-992 Employees retirement system; termination of employment; refunds; reemployment; separation from service; return to work.
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(1) A member who has five years or more of creditable service, excluding years of prior service acquired pursuant to section 79-990, 79-991, 79-994, 79-995, or 79-997, and who terminates his or her employment may elect to leave his or her contributions in the retirement system, i…
Neb. Rev. Stat. § 79-992.01 Termination of employment; employer; duties.
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(1) An employer participating in a retirement system established pursuant to the Class V School Employees Retirement Act shall: (a) Until September 1, 2024, notify the administrator and the board of trustees in writing of the date upon which a termination of employment has occurr…
Neb. Rev. Stat. § 79-992.02 False or fraudulent claim or benefit application; prohibited acts; penalty.
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(1) Any person who, knowing it to be false or fraudulent, presents or causes to be presented a false or fraudulent claim or benefit application, any false or fraudulent proof in support of such a claim or benefit, or false or fraudulent information which would affect a future cla…
Neb. Rev. Stat. § 79-993 Reemployment; repay contributions; limitation; effect.
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For one year from May 30, 1987, any person who withdrew his or her accumulated contributions pursuant to section 79-992 prior to May 30, 1987, has again become an employee, and has not previously repaid all of his or her accumulated contributions pursuant to such section may elec…
Neb. Rev. Stat. § 79-994 Employee of another school district; contribution; limitation; effect.
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For one year from May 30, 1987, any person who was an employee of another school district prior to May 30, 1987, has joined or rejoined the retirement system, and has not previously paid into the retirement system a total of ten years of service in another school district may ele…
Neb. Rev. Stat. § 79-995 Reemployment; military service; leave of absence; contribution; limitation; effect.
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For one year from May 30, 1987, any person who served in the armed forces as specified in subsection (1) of section 79-990 or who was on a leave of absence as specified in subsection (2) of such section, has again become an employee, and has not previously paid into the system fo…
Neb. Rev. Stat. § 79-996 Contributions; how paid.
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The payments provided for by sections 79-993, 79-994, and 79-997 may be made in equal installments over a period of not to exceed two years from the date of the election to make such payments. The payments provided for by section 79-995 may be made in equal installments over a pe…
Neb. Rev. Stat. § 79-997 Employee of educational service unit; contribution; limitation; effect.
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On or before May 27, 1988, any person who was an employee of an educational service unit in the State of Nebraska prior to April 7, 1988, has joined or rejoined the retirement system, and has not previously paid into the retirement system a total of ten years of service in anothe…
Neb. Rev. Stat. § 79-998 Additional service credits; accept payments and rollovers; limitations; how treated; tax consequences; direct transfer to retirement plan.
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(1) The retirement system may accept as payment for additional service credit that is purchased pursuant to sections 79-990 to 79-992 an eligible rollover distribution from or on behalf of the member who is making payments for such service credit if the eligible rollover distribu…
Neb. Rev. Stat. § 79-999 Employees retirement system; annuity; how credited.
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After the date of establishment of the retirement system, each member shall be credited annually with a retirement annuity of an amount equal to one and one-half percent of the salary or wage earned by him or her during the then current fiscal year not in excess of five thousand …
Neb. Rev. Stat. § 79-999.01 Retirement allowance; payments.
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For any retirement allowance of a member under the Class V School Employees Retirement Act: (1) Monthly payments become effective on the first day of a calendar month and shall be paid to the member on the last business day of such month; (2) The first such payment shall include …