23-2315 Retirement system; retirement; when; conditions; application for benefits; deferment of payment; board; duties. - Nebraska Statutes

23-2315. Retirement system;retirement; when; conditions; application for benefits; deferment of payment;board; duties.(1) Upon filing an application forbenefits with the board, an employee may elect to retire at any time afterattaining the age of fifty-five or an employee may retire as a result of disabilityat any age.(2) The member shall specify in the application for benefitsthe manner in which he or she wishes to receive the retirement benefit underthe options provided by the County Employees Retirement Act. Payment underthe application for benefits shall be made (a) for annuities, no sooner thanthe annuity start date, and (b) for other distributions, no sooner than thedate of final account value.(3) Payment of any benefit provided under the retirement systemmay not be deferred later than April 1 of the year following the year in whichthe employee has both attained at least age seventy and one-half years andterminated his or her employment with the county, except that for members participating in the defined contributionbenefit, no distribution is required to be made for the plan year commencingJanuary 1, 2009, through December 31, 2009.(4) The board shall make reasonable efforts to locate themember or the member's beneficiary and distribute benefits by the requiredbeginning date as specified by section 401(a)(9) of the Internal Revenue Codeand the regulations issued thereunder. If the board is unable to make sucha distribution, the benefit shall be distributed pursuant to the Uniform Dispositionof Unclaimed Property Act and no amounts may be applied to increase the benefitsany member would otherwise receive under the County Employees Retirement Act. SourceLaws 1965, c. 94, § 15, p. 407; Laws 1975, LB 47, § 2; Laws 1979, LB 391, § 1; Laws 1982, LB 287, § 1; Laws 1986, LB 311, § 5; Laws 1987, LB 60, § 1; Laws 1987, LB 296, § 1; Laws 1994, LB 833, § 7; Laws 1996, LB 1076, § 3; Laws 2003, LB 451, § 6; Laws 2009, LB188, § 3. Cross ReferencesUniform Disposition of Unclaimed Property Act, see section 69-1329.