Bill > LB821

This bill modifies the duties of the Public Employees Retirement Board and the Nebraska Investment Council regarding state retirement systems by eliminating certain verification requirements previously performed by the Public Employees Retirement Board and changing reporting obligations. Specifically, it removes the requirement for the Nebraska Investment Council to have an analysis of investment returns prepared by an independent organization and presented to the board annually, and instead mandates that the Nebraska Investment Council prepare an annual report on its investment portfolios, strategies, and the state investment officer's duties, which will be presented to the Legislature's Retirement Systems Committee. Additionally, the Public Employees Retirement Board will now be responsible for preparing its own annual report covering its funding policy, administrative costs, member education programs, and the organizational structure and internal controls of the Nebraska Public Employees Retirement Systems, which will also be presented to the Legislature's Retirement Systems Committee.

Labor and Employment

Nebraska Retirement Systems Committee (Unicameral)

https://nebraskalegislature.gov/bills/view_bill.php?DocumentID=62593