24-710.12. Retirement system; accept transfers; limitations; how treated.
98 words·~1 min read·
/ne/chapter-24/24-710-12A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
The retirement system may accept as payment for withdrawn amounts made pursuant to the Judges Retirement Act a direct trustee-to-trustee transfer from
(1)an eligible tax-sheltered annuity plan as described in section 403(b) of the Internal Revenue Code or
(2)an eligible deferred compensation plan as described in section 457(b) of the code on behalf of a member who is making payments for such amounts. The amount transferred shall not exceed the amount withdrawn and such transferred amount shall qualify as a purchase of permissive service credit by the member as defined in section 415 of the code.