Nebraska Statutes 79-941. Total monthlybenefit, defined; how computed
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For purposes of sections 79-941 to 79-946, unless the context otherwise requires, total monthly benefit means the benefit that would have been received under a monthly life annuity with no refund or death benefit option even though a different option, as provided in section 79-938, has been selected. The total monthly benefit shall be computed as if the person had retired at age sixty-five or at the actual age of retirement, whichever is later.
Source
- Laws 1980, LB 228, § 2;
- R.S.1943, (1994), § 79-1559;
- Laws 1996, LB 900, § 576;
- Laws 2011, LB509, § 27.
Terms Used In Nebraska Statutes 79-941
- Annuity: A periodic (usually annual) payment of a fixed sum of money for either the life of the recipient or for a fixed number of years. A series of payments under a contract from an insurance company, a trust company, or an individual. Annuity payments are made at regular intervals over a period of more than one full year.
- Person: shall include bodies politic and corporate, societies, communities, the public generally, individuals, partnerships, limited liability companies, joint-stock companies, and associations. See Nebraska Statutes 49-801