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Bill > LB689


NE LB689

Redefine terms under the School Employees Retirement Act and the Class V School Employees Retirement Act


summary

Introduced
01/22/2025
In Committee
01/24/2025
Crossed Over
Passed
Dead

Introduced Session

Potential new amendment
109th Legislature

Bill Summary

A BILL FOR AN ACT relating to retirement; to amend sections 79-930 and 79-992, Reissue Revised Statutes of Nebraska; to redefine terms under the School Employees Retirement Act and the Class V School Employees Retirement Act; and to repeal the original sections.

AI Summary

This bill modifies two sections of Nebraska law related to school employees' retirement, primarily addressing how employees can return to work after retirement or separation from service. The bill clarifies rules for temporary, substitute, and volunteer work for retired or separated school employees, specifically removing the previous limitation of "not greater than eight days of work during a calendar month" when defining intermittent work. It establishes procedures for members who want to return to work after retirement, including how they can accrue service credit, make contributions to the retirement system, and maintain their existing retirement benefits. The bill provides detailed guidelines for determining when a member has truly terminated employment, including a 180-day waiting period and provisions for members to seek determinations from retirement system administrators about their employment status. Additionally, the bill includes provisions for how members can restore previously withdrawn contributions and earn additional service credit, with specific rules about crediting service and calculating retirement annuities for reemployed members. These changes aim to provide more flexibility for school employees in managing their retirement and post-retirement employment while maintaining the integrity of the retirement system.

Committee Categories

Labor and Employment

Sponsors (1)

Last Action

Nebraska Retirement Systems Hearing (12:00:00 3/28/2025 Room 1524) (on 03/28/2025)

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