This 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. Specifically, the contribution rate for police officers will increase from the current 7% to 9% of their salary starting October 1, 2025. Additionally, the bill stipulates that contributions will be deducted from officers' salaries and credited to their retirement accounts monthly, with regular interest applied. The city will also pick up these contributions, treating them as employer contributions for federal tax purposes.

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, or for those whose city has adopted this distribution option. The bill also eliminates obsolete provisions and sets operative dates for the new regulations, with sections 2 and 4 becoming effective on October 1, 2025. The original sections 16-1005 and 16-1027 are repealed as part of this legislative update.

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