Nebraska LB571 requires cost-of-living adjustments for retirees of public power districts with defined benefit plans.

Nebraska LB571 mandates that public power districts operating a defined benefit plan must provide cost-of-living adjustments to retirees who are not eligible for Social Security benefits. This adjustment is to be equal to the annual cost-of-living adjustment determined by the federal Social Security Administration, starting from January 1, 2026. This bill aims to ensure that retirees receive compensation for changes in the cost of living.

Nebraska LB571 requires cost-of-living adjustments for retirees of public power districts with defined benefit plans.

Nebraska LB571 mandates that public power districts operating a defined benefit plan must provide cost-of-living adjustments to retirees who are not eligible for Social Security benefits. This adjustment is to be equal to the annual cost-of-living adjustment determined by the federal Social Security Administration, starting from January 1, 2026. This bill aims to ensure that retirees receive compensation for changes in the cost of living.