Current through September 17, 2024
Section 303-13-002 - General Definitions002.01 The definitions provided in Nebraska statutory law for each plan shall apply to the provisions herein as they relate to that plan. In addition to those definitions, the following definitions shall apply:002.02 Converted into cash payments means, with respect to benefits such as unused leave or employer-paid insurance premiums, an arrangement whereby a member has individually arranged with his or her employer to receive an equivalent amount of cash, in lieu of receipt of the actual benefit.002.03 Flat salary means a fixed dollar amount provided for in a member's contract of employment that is paid with respect to each pay period by the employer to the member for rendered service; which amount such member may voluntarily choose to receive in cash, apply to insurance premiums, apply to a plan offered by employer the under the Internal Revenue Code to defer or exclude certain amounts from income, or allocate among a combination of the foregoing.002.04 Internal revenue code means the federal internal revenue code of 1986, as further defined pursuant to Neb. Rev. Stat. § 49-801.01.303 Neb. Admin. Code, ch. 13, § 002