Title 38 — Public Officers and Employees

A. The board of trustees shall consist of nine members and shall have the rights, powers and duties that are set forth in this section. The term of office of members shall be five years to expire on the third Monday in January of the appropriate year. The board shall select a cha…

A. The board may establish a qualified governmental excess benefit arrangement for the sole purpose of enabling the board to continue to apply the same formula for determining benefits payable to all employees covered by the system whose benefits under the system are limited by s…

A. On or before December 1 of each year, the board of trustees shall provide to the legislature and the joint legislative budget committee and shall post on its website the shared cost structure of employees and employers, the funding status and the rate of return. The report to …

A. The board may appoint investment management. Investment management shall have: 1. The highest professional and fiduciary recommendations. 2. Not less than three years' experience at handling institutional investments of at least two hundred fifty million dollars. This paragrap…

A. The board and any other fiduciary of the system shall discharge their duties: 1. Solely in the interest of the members and beneficiaries. 2. For the exclusive purpose of providing benefits to members and beneficiaries and paying reasonable expenses in administering the plans a…

A. If a member is convicted of, or discharged because of, theft, embezzlement, fraud or misappropriation of an employer's property or property under the control of the employer, the member shall be subject to restitution and fines imposed by a court of competent jurisdiction. The…

A. Nothing contained in the system shall be construed as a contract of employment between an employer and any employee, or as a right of any employee to be continued in the employment of an employer, or as a limitation of the rights of an employer to discharge any of its employee…

A. This state, any municipality, county or other political subdivision of the state, any Indian tribe or any public or quasi-public organization created wholly or partly by, or deriving its powers from, the legislature, may request to become a participating employer in the system…

The employer contributions and the securities in the several funds provided for in this article shall be exempt from state, county and municipal taxes. Employee and employer contributions that are withdrawn from the system after December 31, 1974 by a public officer or employee f…

From and after the effective date of this section, all benefits now or hereafter received pursuant to this article or prior retirement systems shall not be reduced because of any payment received as benefits under the federal old age and survivors insurance system.

A member who terminates employment with an employer and accepts a position with the same or another employer participating in the system, after completing an application that is acceptable to the board, shall have the member's credited service transferred to the member's record w…

A. Except as provided in subsection B of this section, an active member of the system who has at least five years of service with the system may elect to redeem up to sixty months of any part of the following prior service or employment by paying into the system any amounts requi…

A member who purchases service pursuant to this article or section 38-922 or 38-924 shall make payments directly to the system in whole or in part by any one or a combination of the following methods: 1. In lump sum payments. 2. Through an arrangement with the system that the pay…

A. An employee covered under the prior systems set forth in sections 9-912 to 9-934, inclusive, and in sections 9-951 to 9-971, inclusive, or prior statutes amended thereby and antecedent thereto, and covered under such prior systems on June 30, 1968, and who becomes a member of …

A member who changes employment or transfers or is assigned to a position in which such member is no longer eligible to be a member of this system, because of a change in duties or otherwise, with the same or another public employer of this state maintaining a retirement program …

A. For members hired on or before June 30, 2017, each retired member or survivor of a retired member is eligible to receive a compounding cost-of-living adjustment in the base benefit as provided in this section. The first payment under this section shall be made immediately foll…

A. For members who are hired on or after July 1, 2017, each eligible retired member or survivor of a retired member may receive a compounding cost-of-living adjustment in the base benefit as provided in this section. B. A retired member or survivor of a retired member is eligible…

A. On notification, the board shall pay from the assets of the separate account established pursuant to subsection G of this section part of the single coverage premium of any group health and accident insurance for each retired member or survivor of the system who receives a pen…

A. Except as provided in subsection B of this section, a member of the system who has at least five years of service with the system may receive credited service for periods of active military service performed before employment with the member's current employer if: 1. The membe…

A. The purposes of a medical board are to: 1. Identify a physical or mental condition or injury that existed or occurred prior to the member's date of membership in the system and for which benefits may otherwise be limited by section 38-844, subsection D. 2. Evaluate a member's …

A. Notwithstanding any other law, in a judicial proceeding for annulment, dissolution of marriage or legal separation that provides for the distribution of community property, or in any judicial proceeding to amend or enforce such a property distribution, a court in this state ma…

A. Any future benefit increase adopted by the legislature or any participating employer for any member of the system shall be fully paid in the year of enactment of the benefit and may not be amortized over any period of years. A benefit for members hired before July 1, 2017 shal…

A. Beginning July 1, 2017, the discount rate specified in subsection B of this section applies to service purchases or transfers of service credits to the system pursuant to the following sections: 1. Section 38-849, subsection D. 2. Section 38-853.01, subsection C. 3. Section 38…

An employer shall disclose the employer's funding ratio for each of the employer's eligible groups under the system on the employer's public website.

A. Each governing body of an employer shall annually: 1. Adopt a pension funding policy for the system for employees who were hired before July 1, 2017. The pension funding policy shall include funding objectives that address at least the following: (a) How to maintain stability …

B. The board shall annually consolidate the pension funding policies of employers adopted pursuant to section 38-863.01 and post the document on the system's public website. C. On or before June 30 of each year, the board shall submit a popular annual financial report to the gove…

In this article, unless the context otherwise requires: 1. "Annuity account" means an account that is established for each participant to record the deposit of participant contributions, employer contributions and interest, dividends or other accumulations credited on behalf of t…

For the purposes of this article, "participant" includes a member as defined in section 38-842, paragraph 31, subdivision (a) or (b), excluding subdivision (a), item (vi), who is hired on or after January 1, 2012 and before July 1, 2017, who is not covered by the federal old age …

A. The board shall establish, design and administer a defined contribution plan to provide for the retirement of specified participants beginning July 1, 2017. B. The purpose of this article is to provide a defined contribution plan that is fully funded on a current basis from em…

A. Each participant in the defined contribution plan shall contribute the following percentage of the participant's gross pensionable compensation by salary reduction that shall be deposited in the participant's annuity account: 1. For a participant as defined in section 38-865, …

A. A lump sum distribution made pursuant to section 38-844.08, subsection B or section 38-885.01, subsection J shall be deposited in a separate rollover account for the participant as defined in subsection C, paragraph 2, subdivision (a) or (b) of this section and made immediatel…

A. A trustee-to-trustee transfer made pursuant to section 38-844.06, subsection C shall be deposited in a separate transfer account established on behalf of the participant and made immediately available for the participant's beneficiary to either withdraw all or any portion of t…

(L25, Ch. 237, sec. 5; Eff. 7/1/26) A. Each participant in the defined contribution plan shall contribute the following percentage of the participant's gross pensionable compensation by salary reduction that shall be deposited in the participant's annuity account: 1. For a partic…

A. On or before June 30, 2017, a participant as defined in section 38-865.01 may make an irrevocable election to opt out of the defined contribution plan established by this article, which shall be the participant's election for the remainder of the participant's employment with …

A. An active member of the defined contribution system who volunteers or is ordered to perform military service may receive years of service for not more than sixty months of military service as provided by the uniformed services employment and reemployment rights act of 1994 (38…

B. The purpose of this section is to provide a group health benefits plan that is fully funded on a current basis from employer and participant contributions. The board shall subject the account to actuarial analysis and manage the account in an actuarially sound manner. C. Contr…

1. "Assets" means the accumulated resources of the disability program. 2. "Board" means the board of trustees established by section 38-848. 3. "Compensation": (a) For a participant as defined in section 38-865, paragraph 7, subdivision (a), item (i), has the same meaning prescri…

A. The public safety personnel defined contribution retirement plan disability program is established for participants in the public safety personnel defined contribution retirement plan who either have elected to participate solely in the defined contribution plan established pu…

A. The disability program trust fund is established for the purpose of paying benefits under and costs of administering the disability program. The trust fund shall be administered by the board. B. The disability program trust fund consists of all monies paid into the trust fund …

All participants are subject to this article and shall participate in the disability program.

A. Beginning July 1, 2017, employers shall contribute the percentage of the gross pensionable compensation of all of the participants under their employment so that the total employer contributions equals the amount that the board determines is necessary to pay one-half of all be…

A. Employer contributions shall be a percentage of gross pensionable compensation for each participant, as the system actuary determines pursuant to this section. The actuary shall make this determination in an annual valuation performed as of June 30. The valuation as of June 30…

B. A participant, as defined in section 38-865, paragraph 7, subdivision (a), item (i), who meets the requirements for a disability pension as prescribed in section 38-844, except for an ordinary disability, shall receive a monthly disability benefit equal to a monthly disability…

A. If a participant, as defined in section 38-865, paragraph 7, subdivision (a), item (i), is killed in the line of duty or dies from injuries suffered in the line of duty, the local board shall follow the same procedures and methods as prescribed in section 38-846 to determine e…

A. If a participant, as defined in section 38-865, paragraph 7, subdivision (b), is killed in the line of duty or dies from injuries suffered in the line of duty, the local board shall follow the same procedures and methods as prescribed in section 38-888 to determine eligibility…

In this article, unless the context otherwise requires: 1. "Board" means the board of trustees of the public safety personnel retirement system established by section 38-848. 2. "Deferred compensation plan" means an eligible deferred compensation plan as defined in section 457(b)…

A. The board shall establish, design and administer a deferred compensation plan in which a participant may participate. B. The board, in the administration, management and operation of the deferred compensation plan, may: 1. Employ services as it deems necessary, including legal…

A. A participant may participate in the deferred compensation plan established pursuant to this article. A participant in the deferred compensation plan shall authorize the participant's employer in writing to make reductions or deductions in the participant's remuneration as pro…

A. Any benefits provided pursuant to this article are in addition to any other benefits provided for the participants and are supplemental to any other retirement plan under which such participants participate. B. Any income deferred under the deferred compensation plan are inclu…

1. "Accidental disability" means a physical or mental condition that the local board finds totally and permanently prevents an employee from performing a reasonable range of duties within the employee's department and was incurred in the performance of the employee's duties. 2. "…