LB1102

Amends the Class V School Employees Retirement Act to redefine retirement date, establish monthly payments for retirement allowances, and change when.

Nebraska LB1102 amends the Class V School Employees Retirement Act by redefining the retirement date for members, establishing monthly payments for retirement allowances, and changing when certain cost-of-living adjustments occur. It specifies that monthly payments become effective on the first day of a calendar month and outlines conditions under which payments may be withheld. The bill also introduces medical cost-of-living adjustments for annuitants who have been paid an annuity for at least ten years.