NE LB461

Amends Section 16-1027 of Nebraska statutes governing retirement benefits for firefighters in cities of the first class

Expands optional benefit payment forms for firefighters retiring on or after January 1, 1997 to explicitly include annual payments, quarterly payments, monthly payments, or a single lump-sum payment of the firefighter's retirement value

Maintains existing retirement benefit structures including straight life annuity options, survivor benefits for spouses and minor children, and minimum pension guarantees of 50% of regular pay for eligible firefighters

Preserves the requirement that firefighters with pension benefits less than $25 per month receive a lump-sum settlement equal to their retirement value instead of annuity payments