Section 59-1359 – SEPARATION BENEFITS.
59-1359. SEPARATION BENEFITS. (a) The separation benefit, if any, shall become payable upon the written request of an inactive member who has been separated from employment. If the person who received a separation benefit is reemployed or reinstated by the same employer within ninety (90) days or is guaranteed a right to employment or reinstatement […]
Section 59-1343 – CONVERSION AND COMMUTATION OF CERTAIN PAYMENTS.
59-1343. CONVERSION AND COMMUTATION OF CERTAIN PAYMENTS. Unless the retirement board establishes a different level by rule, benefit payments of less than twenty dollars ($20.00) per month shall be commuted into an actuarially equivalent single sum. History: [(59-1343) 1974, ch. 57, sec. 7, p. 1118; am. 1981, ch. 10, sec. 5, p. 18; am. and […]
Section 59-1360 – CESSATION OF MEMBERSHIP — REINSTATEMENT.
59-1360. CESSATION OF MEMBERSHIP — REINSTATEMENT. A person shall cease to be a member when the person’s accumulated contributions are paid to the person. After again becoming an employee the member may reinstate previous credited service by repaying to the retirement fund the full amount of all prior accumulated contributions provided such repayment includes payment […]
Section 59-1344 – TIME FOR PAYMENT OF SERVICE RETIREMENT OR EARLY RETIREMENT.
59-1344. TIME FOR PAYMENT OF SERVICE RETIREMENT OR EARLY RETIREMENT. A service retirement allowance or early retirement allowance shall become payable to a member on the first of the month following his ceasing to be an employee while eligible for service retirement or early retirement and on the first of each month thereafter to and […]
Section 59-1361 – COMPUTATION OF DEATH BENEFITS — METHOD OF PAYMENT — OPTIONAL DEATH BENEFIT.
59-1361. COMPUTATION OF DEATH BENEFITS — METHOD OF PAYMENT — OPTIONAL DEATH BENEFIT. (1) The death benefit of an active or inactive member not vested at time of death shall equal the excess, if any, of the member’s accumulated contributions at the time the benefit becomes payable over the aggregate of all benefit payments ever […]
Section 59-1345 – VESTED MEMBER ELIGIBLE FOR EARLY RETIREMENT.
59-1345. VESTED MEMBER ELIGIBLE FOR EARLY RETIREMENT. A vested member who is not eligible for either service retirement or disability retirement is eligible for early retirement if he is within ten (10) years of being eligible for service retirement. Additionally, a vested member is eligible for early retirement on termination of disability retirement as provided […]
Section 59-1361A – PUBLIC SAFETY OFFICER DEATH BENEFITS.
59-1361A. PUBLIC SAFETY OFFICER DEATH BENEFITS. (1) On and after July 1, 2003, in the event a public safety officer dies as the direct and proximate result of a personal injury sustained in the line of duty, a death benefit in the amount of one hundred thousand dollars ($100,000) shall be payable as provided in […]
Section 59-1324 – TRANSFER OF MONEYS FROM STATE COMMUNITY COLLEGE ACCOUNT.
59-1324. TRANSFER OF MONEYS FROM STATE COMMUNITY COLLEGE ACCOUNT. After July 1, 1984, the state board of education shall, at the request of the board, direct the transfer from the state community college account or from appropriations made for that purpose to the public employee retirement account of an aggregate sum in lieu of and […]
Section 59-1325 – EMPLOYER REMITTANCE TO BOARD — COLLECTION OF DELINQUENCIES.
59-1325. EMPLOYER REMITTANCE TO BOARD — COLLECTION OF DELINQUENCIES. (1) Each employer, or, where the employer’s payroll is paid separately by departments, each department of the employer, shall remit to the retirement board all contributions required of it and its employees on the basis of salaries paid by it during each pay period together with […]
Section 59-1326 – PROCEDURE FOR COMPLETE OR PARTIAL WITHDRAWAL OF POLITICAL SUBDIVISIONS FROM THE SYSTEM — CALCULATION OF WITHDRAWAL PENALTY — INDEMNIFICATION.
59-1326. PROCEDURE FOR COMPLETE OR PARTIAL WITHDRAWAL OF POLITICAL SUBDIVISIONS FROM THE SYSTEM — CALCULATION OF WITHDRAWAL PENALTY — INDEMNIFICATION. (1) A political subdivision, through its governing body, may by resolution adopted by two-thirds (2/3) of the members of the governing body declare its intent to withdraw completely from the system and to submit the […]