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LR 97

Interim study to carry out the provisions of section 13-2402, which requires the Nebraska Retirement Systems Committee to monitor underfunded defined benefit plans administered by political subdivisions

109th Legislature (2025-2026)

LR 97 designates an interim study to monitor underfunded defined-benefit plans administered by Nebraska political subdivisions and produce findings and recommendations.

Notice of hearing for November 20, 2025
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Bill Summary · LR 97

Summary: Legislative Resolution LR 97 ( Interim Study )

Overview

LR 97 is a Nebraska legislative resolution introduced on March 28, 2025. It designates an interim study by the Nebraska Retirement Systems Committee to carry out the purposes of section 13-2402, which requires the committee to monitor underfunded defined-benefit plans administered by political subdivisions. The resolution is a formal request for study rather than immediate policy changes.

Purpose and Scope

  • The primary purpose is to conduct an interim study to implement and investigate the provisions of section 13-2402.
  • The focus is on underfunded defined-benefit plans that are administered by political subdivisions within Nebraska.
  • At the conclusion of the study, the committee is to prepare a report detailing findings and recommendations for submission to the Legislative Council or the Legislature.

Key Provisions

  • Designation of the Nebraska Retirement Systems Committee to conduct the interim study.
  • The study’s objective is to carry out the purposes of LR 97, specifically related to monitoring underfunded defined-benefit plans.
  • A final report must be produced, outlining findings and any recommendations, and submitted to the Legislative Council or the Legislature.

Members and Sponsor

  • Introduced by the Nebraska Retirement Systems Committee: Ballard (Chair, 21), along with members Clements (2), Hardin (48), Juarez (5), Sorrentino (39).
  • Classification: Resolution (not a bill creating or altering statutes).

Procedural Timeline and Status

  • Introduced: March 28, 2025.
  • Referred to Executive Board: March 28, 2025.
  • Referred to Nebraska Retirement Systems Committee: May 19, 2025.
  • Notice of hearing: September 3, 2025, for a hearing on November 20, 2025.
  • Hearing date: November 20, 2025 (as announced in the notice).

Affected Parties and Impacts

  • Affects political subdivisions that administer defined-benefit pension plans, especially those that are underfunded.
  • Potential impacts include enhanced oversight, data collection, and analysis of funding status, actuarial assumptions, governance, and funding practices.
  • The interim study may yield recommendations for legislative or administrative actions, though no specific policy changes occur solely by passage of LR 97.

Significance and Next Steps

  • LR 97 signals legislative interest in assessing and addressing underfunded defined-benefit plans at the substate level.
  • The final report and recommendations could inform future legislative considerations or oversight mechanisms.
  • Stakeholders can follow updates through the Nebraska Legislature’s announcements and the November 20, 2025 hearing date.

Compiled from official sources — confirm details with the bill’s official record.

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