LB179

Nebraska LB179 adjusts retirement contribution rates for police officers and modifies firefighter benefit forms.

Nebraska LB179 amends the Police Officers Retirement Act by changing the contribution rates for police officers employed by cities of the first class. It sets a six percent contribution rate until October 1, 2013, six and one-half percent until October 1, 2015, seven percent until October 1, 2025, and nine percent thereafter. The bill also modifies the Cities of the First Class Firefighters Retirement Act by updating optional benefit forms. Contributions are made through payroll deductions and credited to the employee's account with regular interest.