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NebraskaLB821109th Legislature 1st and 2nd Sessionslegislature

Eliminate certain verification requirements performed by the Public Employees Retirement Board and change duties of the board and the Nebraska Investment Council relating to retirement systems

Sponsored By: Nebraska Retirement Systems Committee

Signed by Governor

Nebraska Retirement Systems Committee

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Bill Overview

Analyzed Economic Effects

2 provisions identified: 1 benefits, 1 costs, 0 mixed.

More pension oversight and public reports

The Nebraska Investment Council gets an independent review of each plan’s investment returns by March 31 each year. An expert with no conflict does the review, and plans under $1,000,000 can be waived. By April 10, the council files an annual report and presents it at a public hearing. The report lists portfolios, strategies, the state investment officer’s duties, office structure, and the investment-return analysis. By April 10, the Public Employees Retirement Board also presents an annual report at a public hearing. It covers funding policy; costs and fees by fund and plan; member education; the director’s duties; office structure; and internal controls to follow state and federal law.

Pension investment guardrail removed

The law removes the old rule that the retirement board verify investments are made only to provide benefits. It also removes the requirement to verify that investments are not made with the sole or primary aim of economic development or social goals. The board no longer includes this verification in its written plan. This reduces a formal safeguard on investment decisions.

Sponsors & Cosponsors

Sponsor

  • Nebraska Retirement Systems Committee

    Affiliation unavailable

Cosponsors

There are no cosponsors for this bill.

Roll Call Votes

All Roll Calls

Yes: 92 • No: 0

legislature vote • 2/20/2026

Final Reading

Yes: 48 • No: 0 • Other: 1

legislature vote • 1/29/2026

Vote

Yes: 44 • No: 0 • Other: 5

Actions Timeline

  1. Approved by Governor on February 24, 2026

    2/24/2026legislature

  2. Presented to Governor on February 20, 2026

    2/20/2026legislature

  3. President/Speaker signed

    2/20/2026legislature

  4. Passed on Final Reading 48-0-1

    2/20/2026legislature

  5. Dispensing of reading at large approved

    2/20/2026legislature

  6. Placed on Final Reading

    2/17/2026legislature

  7. Advanced to Enrollment and Review for Engrossment

    2/9/2026legislature

  8. Kauth FA450 withdrawn

    2/9/2026legislature

  9. Placed on Select File

    2/3/2026legislature

  10. Advanced to Enrollment and Review Initial

    1/29/2026legislature

  11. Placed on General File

    1/27/2026legislature

  12. Notice of hearing for January 23, 2026

    1/14/2026legislature

  13. Referred to Nebraska Retirement Systems Committee

    1/9/2026legislature

  14. Kauth FA450 filed

    1/8/2026legislature

  15. Date of introduction

    1/7/2026legislature

Bill Text

  • Introduced

    1/7/2026

    PDF

  • Enrolled / Slip Law

    PDF

  • Final / Enacted

    PDF

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