429 Neb. Admin. Code, ch. 2, § 005
Contributions & Maximum Contribution Limit All Contributions to Accounts shall be in Cash. Contributions to an Account may be made through an established periodic payment plan, through payroll deductions and other similar automatic deduction plans, through one or more lump-sum deposits and in means allowed by the Code, the Act, Participation Agreement, and the Account Agreement. Contributions may be made at any time, provided that (i) the total amount of Contributions to all Accounts maintained within the Plan for the same Participant do not exceed the Maximum Contribution Limit as defined by the Act; and (ii) no additional Contributions may be made to the Account for Participant when the fair market value of all accounts maintained with in the Plan plus the tendered Contribution exceeds the Maximum Contribution Limit.
Not Required Every Year A Participant shall not be required to make an annual Contribution to the Plan; however, if a Participant makes a Contribution, such Contribution shall comply with the Maximum Contribution Limit.
Contributions in excess of State Income Tax Deduction Participant Contributions in excess of the State Income Tax Deduction are allowed provided that the Contribution does not exceed the Maximum Contribution Limit set forth in the Act. Earnings from Contributions in excess of the State Income Tax Deduction compound free from Nebraska State Income Tax.
429 Neb. Admin. Code, ch. 2, § 005