303 Neb. Admin. Code, ch. 4, § 002

Current through September 17, 2024

Section 303-4-002 - Definitions

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.

303 Neb. Admin. Code, ch. 4, § 002