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NPERS pre-retirement seminar outlines plan types, contribution rules and online tools for state and county employees
Summary
Nebraska Public Employees Retirement System presenters reviewed cash-balance and defined-contribution plan features, contribution and vesting rules, distribution options and the NPERS benefit estimator, urging members to check beneficiaries and consider Deferred Compensation contributions.
Kathy Myus Graham, a training specialist at the Nebraska Public Employees Retirement System, opened the NPERS state and county pre-retirement seminar and walked attendees through the agency’s resources, contribution rules and how to tell which mandatory benefit they participate in.
The presentation matters because thousands of state and county workers will use NPERS account rules and the agency’s benefit estimator to make decisions that affect their retirement income and taxes. NPERS emphasized that members should keep Meritus quarterly statements and set up online accounts at npers.ne.gov to review beneficiaries, balances and estimator outputs.
NPERS staff explained the three main plan labels members will encounter: the cash-balance (CB) benefit, the defined-contribution (DC) benefit and the voluntary Deferred Compensation Plan (DCP). Kathy Myus Graham said members hired on or after Jan. 1, 203 may be CB members and described how previous conversion windows (2003, 2007, 2012) affected some employees’ plan type. She summarized the practical difference: CB members have no individual investment elections (the Nebraska Investment Council manages CB funds), while DC members direct contributions among 17 available funds.
The seminar gave concrete contribution figures: state employees generally contribute 4.8% of pay while county employees contribute 4.5%; presenters described the employer match as roughly 150% of member contributions. On vesting, NPERS staff reiterated that members under age 55 become vested after three years of contributions, while contributing members aged 55 or older are immediately vested.
On account access and recordkeeping, Myus Graham urged attendees to create both an NPERS online account and a Meritus account so they can see beneficiaries and quarterly statements. She noted NPERS added multi-factor authentication in August 2024 and recommended using online elections when possible because changes submitted online take effect at the end of the market day, avoiding postal delays.
Speaking about dividends and guaranteed returns, Myus Graham explained that cash-balance members receive a guaranteed rate (the federal midterm rate plus 1.5% or a 5% minimum) and may be eligible for dividends if actuarial funding exceeds thresholds; she said any dividends will appear on Meritus statements and the NPERS website. For DC members, Myus Graham said investment returns will depend on the funds chosen and noted NPERS provides investment-education videos and an annual investment report.
The seminar concluded with contact reminders. "We are located in downtown Lincoln … our call center is available if you have questions about your account," Myus Graham said, and presenters urged members to call NPERS or use npers.ne.gov for forms, beneficiary updates and to run the benefit estimator.
Next steps for members include confirming plan type on statements, reviewing and updating beneficiary forms for each plan, and using the online benefit estimator before making distribution or rollover decisions.
