The Nebraska Department of Insurance released its legislative proposal for revising the preneed law that has been in effect since 1987. Written during a time when interest rates were high, the Nebraska law imposed a CPI accrual but allowed income in excess of that accrual to be distributed to the preneed seller. The law also
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The Quest for Knowledge: Nebraska preneed reporting
By Bill Stalter on
For more than 20 years, Nebraska preneed sellers have filed an annual report that accounts for the aggregate contributions and distributions from their trust funds. The annual report form also computes the amount of income that must be accrued to the account if the seller elects to withdraw excess income from the trust. In its …