Nebraska Revised Statute 79-960

Chapter 79 Section 960

79-960.

Employer; deduction; remittances; fees; interest charge.

Every employer shall deduct and withhold an amount pursuant to section 79-958 from the compensation as a school employee of each member on each payroll period after such school employee becomes a member of the retirement system. The employer shall transmit periodically, as directed by the retirement board and in such form as is approved by the retirement board, such amounts and any other information required by the board. The board shall immediately transmit to the State Treasurer all payments received. The board may charge the employer a late administrative processing fee not to exceed twenty-five dollars if the information and money required by section 79-958 are delinquent or are not timely received by the board. In addition, the board may charge the employer a late fee of thirty-eight thousandths of one percent of the amount required to be submitted pursuant to this section for each day such amount has not been received. The late fee may be used to make a member's account whole for any costs that may have been incurred by the member due to the late receipt of contributions. The board shall charge the employer an amount equal to the interest which would have accrued if the delinquent report causes the employee to lose interest on his or her account. The proceeds of the interest charge shall be used to reimburse the account of each school employee deprived of interest by the delay.

Source

  • Laws 1945, c. 219, § 34, p. 649;
  • R.S.Supp.,1947, § 79-2934;
  • Laws 1949, c. 256, § 467, p. 851;
  • Laws 1951, c. 291, § 7, p. 969;
  • Laws 1967, c. 546, § 11, p. 1807;
  • Laws 1984, LB 457, § 4;
  • Laws 1986, LB 325, § 12;
  • Laws 1988, LB 160, § 5;
  • Laws 1988, LB 1170, § 8;
  • Laws 1991, LB 549, § 40;
  • Laws 1994, LB 1306, § 3;
  • R.S.1943, (1994), § 79-1533;
  • Laws 1996, LB 900, § 595;
  • Laws 1996, LB 1076, § 29;
  • Laws 1999, LB 272, § 92;
  • Laws 2000, LB 1192, § 17;
  • Laws 2002, LB 407, § 36.