The state will administer the Omaha School Pension Plan under a law that will be finalized on May 20th.
Senator Mark Kolterman
“data-medium-file =” http://update.legislature.ne.gov/wp-content/uploads/2017/01/SenKolterman_inline-200×300.jpg “data-large-file =” http: //update.legislature .ne.gov / wp-content / uploads / 2017/01 / SenKolterman_inline.jpg “load =” lazy “class =” size-medium wp-image-20145 “src =” http://update.legislature.ne.gov /wp-content/uploads/2017/01/xSenKolterman_inline-200×300.jpg.pagespeed.ic.biXaiGrBpq.jpg “alt =” Sen. Mark Kolterman “width =” 200 “height =” 300 “srcset =” http: // update.legislature.ne.gov/wp-content/uploads/2017/01/xSenKolterman_inline-200×300.jpg.pagespeed.ic.biXaiGrBpq. jpg 200w, http://update.legislature.ne.gov/wp-content/uploads/2017/01/xSenKolterman_inline.jpg.pagespeed.ic.0hMJjBZ5qm.jpg 297w “sizes =” (maximum width: 200px) 100vw, 200px”/>Senator Mark Kolterman
Senators passed bill in 2019 to require a review of the possible transfer of management responsibilities from the Board of Trustees of the Omaha School Employees Retirement System to the Public Employees Retirement Board, which manages the rest of the state’s plans through the Nebraska Public Employees Retirement Systems.
LB147, sponsored by Seward Sen. Mark Kolterman, will transfer the duties and responsibilities for the administration of the OPS plan to the PERB effective September 1, 2024. The school district, school board, board of trustees, and PERB must complete a transfer of administration agreement by December 31, 2021.
The bill stipulates that the school district will be solely responsible for the funding obligations of the pension system and that OPS will assume all costs of the management transfer.
The action includes components of three additional bills related to the referral, all of which are sponsored by Kolterman.
The provisions of LB145 require a compliance audit to be completed by November 15, 2021 and the first annual review by the state auditor by July 1, 2022.
The provisions of LB582 end the power of the Board of Trustees to administer the Plan on July 1, 2021. On that day, new members of the Board of Trustees, appointed by the Education Council, will begin their term of office. This board of trustees will facilitate the transfer of management to PERB on September 1, 2024.
Finally, the provisions of LB146 clarify eligibility for membership in the Omaha school curriculum and define termination of employment to ensure that there has been a serious separation of service.
The termination definition codifies the current district re-employment policy for the 180-day period, which allows for unrestricted voluntary unpaid bona fide service.
Temporary service is permitted after a waiting period of 30 days after termination if a specific purpose or task is to be fulfilled and a year must not be exceeded. Alternative service is permitted at times, ie no more than eight working days per calendar month.
LB147 passed 38-3 and takes effect immediately.