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 seven percent to nine percent of their salary starting October 1, 2025. Additionally, the bill clarifies that contributions will be deducted from officers' salaries and credited to their retirement accounts monthly, with regular interest applied.

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 retiring before that date if their city has adopted such a distribution option. The bill also eliminates obsolete provisions and sets operative dates for the new changes, 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