This legislative bill amends sections 16-1005 and 16-1027 of the Reissue Revised Statutes of Nebraska, primarily focusing on changes to retirement contribution rates for police officers in cities of the first class and provisions related to optional benefit forms for retiring firefighters. The bill establishes that, starting October 1, 2025, police officers will contribute nine percent of their salary to the retirement system, an increase from the previous rates of six percent and seven percent. Additionally, it mandates that contributions be made through regular payroll deductions and credited to the officers' accounts monthly, with interest.

For firefighters, the bill introduces new optional benefit forms that allow retiring firefighters to receive their retirement value as a single lump-sum payment or in partial payments, a change from the previous requirement of a single lump-sum payment only. This option is available for firefighters retiring on or after January 1, 1997, and those whose cities have adopted this distribution option. The bill also repeals obsolete provisions and sets operative dates for the new regulations, with sections 2 and 4 becoming effective on October 1, 2025.

Statutes affected:
Introduced: 16-1005
Final Reading: 16-1005, 16-1027
Slip Law: 16-1005, 16-1027