Nebraska Statutes 79-945. Supplemental retirement benefit; receipt by beneficiary; duration
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If a retiree eligible for the supplemental benefit under section 79-942 dies subsequent to July 19, 1980, the beneficiary shall be entitled to the supplemental benefit until the expiration of the annuity option selected by the retired member.
Source
- Laws 1980, LB 228, § 6;
- R.S.1943, (1994), § 79-1563;
- Laws 1996, LB 900, § 580.
Terms Used In Nebraska Statutes 79-945
- 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.
- Beneficiary: A person who is entitled to receive the benefits or proceeds of a will, trust, insurance policy, retirement plan, annuity, or other contract. Source: OCC