NE LB420

Amends section 84-1501 of the Reissue Revised Statutes of Nebraska governing the Public Employees Retirement Board composition and qualifications

Increases the experience requirement for the two non-employee appointed board members from five years to ten years in actuarial analysis or employee benefit plan administration

The ten-year experience requirement applies to board members who are not employees of the State of Nebraska or its political subdivisions

Maintains existing board structure of nine appointed members plus the state investment officer as a nonvoting ex officio member