All Roll Calls
Yes: 92 • No: 0
NebraskaLB821109th Legislature 1st and 2nd SessionslegislatureWALLET
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
6 provisions identified: 3 benefits, 0 costs, 3 mixed.
More audits and planning for pensions
The board must get a separate compliance audit by December 31, 2028. Later audits happen on request, no more often than every four years and no less than every ten. Actuarial services are hired through sealed competitive bidding, with qualified actuaries. By April 10 each year, the board presents a written plan on funding policy, fees, and internal controls.
New rules to fix and recover payments
The retirement board sets rules to correct contributions and benefits. You may see refunds, adjusted payments, or be asked to repay. The board must send notice and give a clear dispute process. To keep federal tax benefits, the board may limit optional contributions or distributions. The board can investigate overpayments and issue subpoenas, including for payments after death.
Clear order for deferred comp death benefits
If you die, deferred comp death benefits pay your named beneficiary on file first. If none, they pay your spouse at death; if none, your estate. This does not apply if you retired with a joint and survivor option. This is subject to the exception in section 42-1107.
Stronger oversight of pension investments
Each year by March 31, the Investment Council gets an independent report on pension returns. Plans under $1,000,000 in assets can be waived. By April 10, the Council presents its portfolios, strategies, and office plan at a public hearing. The retirement board verifies investments serve members first, not social or economic development goals. An independent organization with no conflicts must prepare the analysis.
Class V pensions move and billing
Beginning September 1, 2024, the board runs Class V school employee retirement systems. To make the transfer, the board directs fund moves between Class V accounts. The board may contract for services and file required reports. Employers of Class V staff may be billed for services and transfer costs.
New pension director and reporting rules
The board appoints a director, approved by the Governor and a majority of the Legislature. The director must have management experience and public retirement plan knowledge. Employers must report the data needed to decide who is a member. The board sets reporting, testing, and monitoring rules, and may use its own forms. The board does not have to do on-site audits of political subdivisions.
Sponsors & Cosponsors
Sponsor
Nebraska Retirement Systems Committee
Affiliation unavailable
Cosponsors
There are no cosponsors for this bill.
Roll Call Votes
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
Approved by Governor on February 24, 2026
2/25/2026legislatureDispensing of reading at large approved
2/20/2026legislaturePassed on Final Reading 48-0-1
2/20/2026legislaturePresident/Speaker signed
2/20/2026legislaturePresented to Governor on February 20, 2026
2/20/2026legislaturePlaced on Final Reading
2/17/2026legislatureKauth FA450 withdrawn
2/9/2026legislatureAdvanced to Enrollment and Review for Engrossment
2/9/2026legislaturePlaced on Select File
2/3/2026legislatureAdvanced to Enrollment and Review Initial
1/29/2026legislaturePlaced on General File
1/27/2026legislatureNotice of hearing for January 23, 2026
1/14/2026legislatureReferred to Nebraska Retirement Systems Committee
1/9/2026legislatureKauth FA450 filed
1/8/2026legislatureDate of introduction
1/7/2026legislature
Bill Text
Introduced
2/25/2026
Enrolled / Slip Law
Final / Enacted