Provide requirements for monthly payments of retirement allowances and change when certain cost-of-living adjustments occur under the Class V School Employees Retirement Act

Summary

The proposal amends Nebraska statutes to define how and when retired school employees receive their monthly allowances and when cost‑of‑living adjustments apply. It updates terminology, actuarial tables, and administrative responsibilities for the Class V retirement system, affecting teachers and other school staff. The changes aim to make benefit calculations more consistent and transparent.

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