Section 303-18-003 - Excess Contributions003.01 If NPERS determines that a retirement system has received an excess employee contribution, then NPERS shall return the excess employee contribution to the employer, and the employer shall return the excess employee contribution to the employee. Adjustments due to excess employee contributions shall be made within one year of the date the excess contribution was received by NPERS. If more than one year has passed since the date the contribution was received, the excess contribution shall not be adjusted.003.02 If NPERS determines that a retirement system has received an excess employer contribution, then NPERS shall either provide a refund or credit the excess employer contribution against future employer contributions. Adjustments due to excess employer contributions shall be made within one year of the date the excess contribution was received by NPERS. If more than one year has passed since the date the contribution was received, the excess contribution shall not be adjusted. Notwithstanding the foregoing, NPERS will only provide a refund or credit to the extent allowed under the Internal Revenue Code and any related guidance thereunder, including, but not limited to, a mistake of fact as permitted under Revenue Ruling 91-4 or other applicable Internal Revenue Service guidance.003.03 Under the School Employees Retirement Act, contributions made on compensation in excess of the limitations imposed by Neb. Rev. Stat. § 79-902(35) shall not be refunded pursuant to Neb. Rev. Stat. § 79-904.01(3).303 Neb. Admin. Code, ch. 18, § 003