Nebraska LB743 amends the Police Officers Retirement Act to change optional benefit forms for retiring police officers.
Nebraska LB743 modifies the Police Officers Retirement Act by altering the optional benefit forms for retiring police officers. It allows officers to choose between a straight life annuity or other optional forms of annuity benefits. If the pension benefit is less than $25 per month on the straight life annuity option, a lump-sum settlement is provided. The bill also specifies that the retirement value of an officer must be sufficient to purchase or provide the required pension benefit. The changes become effective on October 1, 2026.
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