Nebraska Retirement Systems Committee
January 23, 2026
Committee Chair: Sen. Beau Ballard | Bills Heard: 2 | Full Transcript (PDF)
LB820: A bill relating to retirement systems; to amend various sections of statute governing state, county, and school retirement plans administered by NPERS and statutes governing PERB and NIC
Introduced by: Sen. Committee (presented by Trevor Fitzgerald, legal counsel) | Testimony: 1 proponents, 0 opponents, 0 neutral | Read bill text (PDF)
Committee advances cleanup bill for Nebraska retirement systems with five key statutory changes. The Retirement Systems Committee heard LB820, a technical cleanup bill coordinated with the Nebraska Public Employees Retirement Systems that consolidates identification document requirements, changes the NPERS director title to executive director, and clarifies contribution language for school and Omaha school employee retirement plans.
Why it matters: The bill prevents potential inconsistencies across retirement plans and aligns Nebraska's retirement system governance with industry standards. It also lays groundwork for future Roth contribution options in the state's deferred compensation program.
What they're saying: - Tag Herbek, NPERS legal counsel: The Roth account language "will allow Roth accounts to be offered with the appropriate infrastructure" when available, and the executive director title "aligns the position with industry standards." - Sen. Sorrentino sought clarification that Roth contributions would be available to all deferred compensation plan participants, not just highly compensated employees—Herbek confirmed they would be available to anyone choosing to participate.
By the numbers: One letter of opposition received for the record.
What's next: No vote was taken during the hearing. The bill will proceed through the committee process.
Committee sentiment: Supportive: Sen. Sorrentino, Sen. Ballard
Sentiment estimated from questions and comments — not stated positions.
LB821: A bill relating to retirement systems; to amend various sections of statute governing annual reports by NPERS and NIC to the Nebraska Retirement Systems Committee
Introduced by: Sen. Committee (presented by Trevor Fitzgerald, legal counsel) | Testimony: 0 proponents, 0 opponents, 0 neutral | Read bill text (PDF)
Committee hears bill to modernize retirement system reporting requirements dating to 1995. The Retirement Systems Committee heard LB821, which updates statutory language governing annual reports by the Nebraska Public Employees Retirement Systems and Nebraska Investment Council to the committee, replacing outdated "written plans of action" terminology with "annual reports."
Why it matters: The bill streamlines reporting requirements and removes ineffective oversight language. It consolidates duplicate NIC reporting requirements and extends the NIC reporting deadline from March 31st to April 10th, providing more time while the Legislature remains in session.
What they're saying: Committee legal counsel Trevor Fitzgerald explained that the current language "dates back to legislation passed in 1995" and that the bill removes a requirement for the PERB board to "verify information that they don't actually have" since the Nebraska Investment Council manages plan assets, not PERB.
What's next: No vote was taken during the hearing. No letters were received for the record. The bill will proceed through the committee process.
Committee sentiment: Supportive: Sen. Ballard
Sentiment estimated from questions and comments — not stated positions.
Session Notes
The committee also held a confirmation hearing for Keith Olson, a Creighton University business school professor teaching investment and financial courses, for confirmation to a second term on the retirement systems board. Olson discussed his experience managing environmental investments in Asia during the 2008 financial crisis and founding Environmental Investment Management Services. No questions of substance were raised, no testimony was offered in support, opposition, or neutral capacity, and no letters were received for the record. The confirmation hearing concluded without a vote being taken. Committee members present included Sen. Beau Ballard (Chair), Sen. Tony Sorrentino, and Sen. Rob Clements. Committee staff included Trevor Fitzgerald (legal counsel), Connie Thomas (clerk), and Lexi Bodlak (page, UNL senior majoring in agricultural communications).
Generated by NE Wire Service | Source: Nebraska Legislature Transcribers Office This is an AI-generated summary. Verify all claims against the official transcript.