Retirement Systems

Retirement rules clarified

Senators passed a bill Feb. 25 that makes several changes to laws covering administration of Nebraska’s state, county and school retirement programs.

Sen. Mark Kolterman
Sen. Mark Kolterman

LB700, introduced by Seward Sen. Mark Kolterman, eliminates obsolete language, changes job requirements for the Nebraska Public Employees Retirement Systems director and attorney and changes duties of the Public Employees Retirement Board regarding retirement education programs that must be offered to members of all retirement systems under the PERB’s jurisdiction.

The bill reduces from four to three the number of paid workdays that county and state plan members receive to attend in-person or live webinar trainings, which are offered during regular work hours. It also eliminates mandated early retirement incentive reporting to the Omaha School Employees Retirement System.

The bill includes provisions of LB1043, also introduced by Kolterman, which codifies current retirement practices and rules for certified teachers who are former members of the state’s school employee retirement plan who subsequently are employed by other state agencies.

Finally, the bill eliminates an option that allowed a state school official employed by the Nebraska Department of Education to elect to remain in, or become a member of, the school plan or the state plan. LB700 instead establishes specific rules for such officials.

Lawmakers passed the bill on a 45-0 vote and it took effect immediately.

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