Lawmakers gave first-round approval April 10 to a bill that would extend an increase in Nebraska judges\u2019 retirement contribution rates.<\/p>\n
LB306, introduced by Omaha Sen. Jeremy Nordquist, would remove the pending July 1, 2014, sunset date on a 1 percent employee contribution rate increase that was established in 2009.<\/p>\n
Nordquist said an actuary has projected a need for additional money to be paid into the Judges Retirement Plan for the next five years in order to meet the annual actuarially required contributions.<\/p>\n
A Retirement Systems Committee amendment, adopted 26-0, struck an additional provision that would have changed the amortization method for calculating the unfunded actuarial liability from level dollar to level percent of pay.<\/p>\n
Nordquist said the provision instead would be amended into another bill.<\/p>\n
A Nordquist amendment, adopted 28-0, incorporated provisions of LB229, a bill he also introduced.<\/p>\n
The amendment removed a scheduled July 1, 2014 sunset date of an additional $1 fee on various court filings that was added in 2009.<\/p>\n
The fee increase is directed to the Judges Retirement Plan, Nordquist said, and will help offset any unfunded liabilities.<\/p>\n
The bill advanced to select file on a 28-0 vote.<\/p>\n","protected":false},"excerpt":{"rendered":"
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