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Technical fix proposed for judges' retirement funding path in LB420 (AM198)
Summary
LB420, amended by AM198, would replace language requiring an administrative transfer by the state treasurer with statute stating the state will contribute the required amount to the Nebraska Retirement Fund for judges. The change responds to an auditor finding that the prior language created a duplicate appropriation pathway; committee heard the
Trevor Fitzgerald, committee legal counsel, introduced LB420 on behalf of the Nebraska Retirement Systems Committee and explained that Senator Ballard filed amendment AM198 to replace the placeholder bill with language to address a technical funding-path anomaly in the Nebraska Judges Retirement Act identified by the Auditor of Public Accounts.
Fitzgerald said the auditor’s management letter noted that statutory language referring to a transfer by the state treasurer produced a duplicate…
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