Retirement Systems

A bill that brings Nebraska’s state-administered retirement plans into compliance with recent federal changes passed this year.

LB1054, introduced by committee chairperson Sen. Mark Kolterman of Seward, updates plans within the Nebraska Public Employees Retirement Systems to comply with new provisions under the SECURE Act passed by Congress and signed into law in late 2019.

Under the bill, the age trigger for the Required Minimum Distributions increases from age 70 1/2 to age 72 for individuals who reach 70 1/2 on or after Jan. 1, 2020.

The bill passed on a 48-0 vote and took effect immediately.