Increase in police officer retirement contributions approved

Lawmakers passed a bill April 10 that increases retirement contribution rates for police officers in first class cities.

LB1082, introduced by Wilber Sen. Russ Karpisek, increased the minimum contribution rate to 6.5 percent of an officer’s salary beginning Oct. 1, 2013. The contribution will increase to 7 percent on Oct. 1, 2015.

The bill also changes the vesting schedule for officers in first class cities to the following:
• 40 percent after two years of service;
• 60 percent after four years of service;
• 80 percent after five years of service; and
• 100 percent after seven years of service.

All officers will be 100 percent vested upon reaching age 60.

LB1082 passed on a 48-0 vote and takes effect immediately.