Change applicability of the employee contribution rate under the School Employees Retirement Act

Summary

The bill revises the employee contribution rate for Nebraska's School Retirement Fund, linking the rate to the fund's funded ratio and altering when each rate becomes effective. It also requires employers to make those employee contributions on their behalf. The changes are intended to better fund formula annuities for school retirees.

AI-generated summary — may be incomplete or inaccurate. Verify against the official bill text.

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