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NebraskaLB743109th Legislature 1st and 2nd SessionslegislatureWALLET

Change provisions relating to optional benefit forms under the Police Officers Retirement Act

Sponsored By: Margo Juarez

Signed by Governor

Nebraska Retirement Systems Committee

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Bill Overview

Analyzed Economic Effects

4 provisions identified: 2 benefits, 0 costs, 2 mixed.

Minimum pensions for long-serving officers

Beginning Oct 1, 2026, officers employed on Jan 1, 1984 who stayed with the city through retirement and have 25 years of service get a pension floor. With retirement at age 60 or older, the pension is at least 50% of regular pay. With retirement at ages 55–59, it is at least 40% of regular pay. You can take this minimum in any allowed form, but non–straight-life payments must be actuarially equal. For a single lump sum, you may use the average of three Nebraska annuity quotes (one each from you, the committee, and the city) using sex-neutral terms. If your retirement value is too low to fund the required minimum, the city must add money to cover the shortfall.

More payout choices for police retirees

Beginning Oct 1, 2026, retiring police officers can choose how to get their pension. You may pick a straight life annuity, a joint-and-survivor at 100%, 75%, or 50%, a lump sum, or partial payments. A straight life annuity must guarantee at least 60 monthly payments. You must make your choice before your retirement date. You can start payments on the first day of any month before age 70.

Annuity contracts set pay for police retirees

Beginning Oct 1, 2026, if you choose an annuity, your payment equals what the purchased annuity contract pays at your start date. If the retirement system gives you that annuity contract, it no longer owes you or your beneficiaries any retirement, death, or disability payments.

Cash-out for very small pensions

Beginning Oct 1, 2026, if your straight life pension is under $25 per month, you get a one-time lump sum equal to your retirement value. In that case, you cannot choose an annuity.

Sponsors & Cosponsors

Sponsor

  • Margo Juarez

    legislature

Cosponsors

There are no cosponsors for this bill.

Roll Call Votes

All Roll Calls

Yes: 86 • No: 0

legislature vote • 4/9/2026

Final Reading

Yes: 49 • No: 0

legislature vote • 2/11/2026

Vote

Yes: 37 • No: 0 • Other: 12

Actions Timeline

  1. Approved by Governor on April 14, 2026

    4/17/2026legislature

  2. President/Speaker signed

    4/10/2026legislature

  3. Presented to Governor on April 10, 2026

    4/10/2026legislature

  4. Passed on Final Reading 49-0-0

    4/9/2026legislature

  5. Placed on Final Reading

    3/3/2026legislature

  6. Kauth FA372 withdrawn

    2/20/2026legislature

  7. Advanced to Enrollment and Review for Engrossment

    2/20/2026legislature

  8. Placed on Select File

    2/18/2026legislature

  9. Advanced to Enrollment and Review Initial

    2/11/2026legislature

  10. Placed on General File

    2/2/2026legislature

  11. Notice of hearing for January 30, 2026

    1/15/2026legislature

  12. Referred to Nebraska Retirement Systems Committee

    1/9/2026legislature

  13. Kauth FA372 filed

    1/8/2026legislature

  14. Date of introduction

    1/7/2026legislature

Bill Text

  • Introduced

    4/17/2026

    PDF

  • Enrolled / Slip Law

    PDF

  • Final / Enacted

    PDF

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