Nebraska Statutes 79-952. Retirement; disability; allowance; formula
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Upon retirement for disability, a member shall receive a disability retirement allowance which shall consist of a savings annuity and a service annuity computed in the manner specified in section 79-933 or, in lieu thereof, the formula annuity computed in the manner specified in section 79-934 without the reduction to the actuarial equivalent of the formula annuity deferred to the sixty-fifth birthday of the member.
Source
- Laws 1945, c. 219, § 25, p. 646;
- R.S.Supp.,1947, § 79-2925;
- Laws 1949, c. 256, § 458, p. 848;
- Laws 1975, LB 50, § 4;
- R.S.1943, (1994), § 79-1524;
- Laws 1996, LB 900, § 587.
Terms Used In Nebraska Statutes 79-952
- 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.