Section 303-24-004 - School Retirement System004.01 Members of the Nebraska School Retirement System may elect to receive a monthly retirement benefit under one of the following options: 004.01(a) Life Only Annuity;004.01(b) Modified Cash Refund Annuity;004.01(c) Period Certain and Continuous Annuity (5, 10, and 15 years);004.01(d) Joint and Survivor Annuity (50%, 75% and 100%);004.01(e) Non-spousal Joint and Survivor Annuity (50%).004.02 A member of the School Retirement System may elect a lump sum refund of the member's account balance in lieu of a monthly retirement benefit. A refund cancels all service credit earned by the member and the member forfeits the right to receive a monthly retirement benefit. The lump sum refund does not include contributions made by the member's employer.303 Neb. Admin. Code, ch. 24, § 004