Independent actuary shall mean a member in good standing of the Society of Actuaries or the American Academy of Actuaries who is not an employee of the plan sponsor. Selection of an independent actuary by a plan sponsor shall comply with the conflict of interest provisions of the Nebraska Political Accountability and Disclosure Act.

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Terms Used In Nebraska Statutes 13-1609

  • Independent actuary: shall mean a member in good standing of the Society of Actuaries or the American Academy of Actuaries who is not an employee of the plan sponsor. See Nebraska Statutes 13-1609
  • Plan sponsor: shall mean any political subdivision providing an employee benefit plan. See Nebraska Statutes 13-1611