Bill > LB76

This bill modifies provisions of the Nebraska State Patrol Retirement Act, primarily focusing on two key areas: death benefits for officers and annual benefit adjustments. For death benefits, the bill increases the percentage of an officer's annuity paid to surviving spouses from seventy-five percent to one hundred percent in various scenarios, such as when there are no dependent children or when dependent children reach nineteen years of age. Regarding annual benefit adjustments, the bill changes the cost-of-living calculation for both officers who became members before and after July 1, 2016. For pre-2016 members, the annual increase will be the lesser of the Consumer Price Index change or two and a half percent before July 1, 2025, and four percent thereafter. For post-2016 members, the annual increase will be the lesser of the Consumer Price Index change or one percent before July 1, 2025, and four percent thereafter. These changes aim to provide more comprehensive financial protection for retired Nebraska State Patrol officers and their families by ensuring more stable and potentially higher benefit levels that better keep pace with inflation.

Labor and Employment

https://nebraskalegislature.gov/bills/view_bill.php?DocumentID=58739