NE LB645

Employee contribution rates to the School Retirement Fund become variable starting July 1, 2025, ranging from 7.25% to 9.75% of compensation based on the fund's funded ratio (previously fixed at 9.78%)

State contribution rates to the School Retirement Fund also become variable starting July 1, 2025, ranging from 0% to 2% of member compensation depending on whether the fund reaches 100% funded status

State transfers to Class V school district retirement systems are reduced from a percentage-based formula to a flat 2% of member compensation beginning July 1, 2025

Nebraska State Patrol surviving spouse benefits increase from 75% to 100% of the deceased officer's annuity beginning July 1, 2027

Declared an emergency measure, taking effect immediately upon the Governor's approval on May 6, 2025