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Bill > LB743
NE LB743
NE LB743Change provisions relating to optional benefit forms under the Police Officers Retirement Act
summary
Introduced
01/07/2026
01/07/2026
In Committee
01/09/2026
01/09/2026
Crossed Over
02/11/2026
02/11/2026
Passed
02/20/2026
02/20/2026
Dead
Introduced Session
Potential new amendment
109th Legislature
Bill Summary
A BILL FOR AN ACT relating to the Police Officers Retirement Act; to amend section 16-1007, Reissue Revised Statutes of Nebraska; to change provisions relating to optional benefit forms; to provide an operative date; and to repeal the original section.
AI Summary
This bill amends the Police Officers Retirement Act in Nebraska to expand the optional benefit forms available to retiring police officers. Previously, officers could choose a straight life annuity or certain guaranteed annuity options. Now, in addition to these, officers can elect to receive their retirement benefit as a single lump-sum payment of their total retirement value, or as one or more partial payments of that value, with the amount and frequency determined by the officer. This change aims to provide more flexibility in how officers receive their retirement funds. The bill also specifies an operative date of October 1, 2026, and repeals the original section of law it amends.
Committee Categories
Labor and Employment
Sponsors (1)
Last Action
Advanced to Enrollment and Review for Engrossment (on 02/20/2026)
Official Document
bill text
bill summary
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bill summary
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bill summary
| Document Type | Source Location |
|---|---|
| State Bill Page | https://nebraskalegislature.gov/bills/view_bill.php?DocumentID=63110 |
| Analysis - Committee Statement | https://nebraskalegislature.gov/FloorDocs/109/PDF/CS/LB743.pdf |
| Fiscal Note for LB743 | https://nebraskalegislature.gov/FloorDocs/109/PDF/FN/LB743_20260129-132146.pdf |
| Analysis - Statement of Intent | https://nebraskalegislature.gov/FloorDocs/109/PDF/SI/LB743.pdf |
| Kauth FA372 | https://nebraskalegislature.gov/FloorDocs/109/PDF/AM/FA372.pdf |
| BillText | https://nebraskalegislature.gov/FloorDocs/109/PDF/Intro/LB743.pdf |
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