Members,

It is my pleasure to share some exceptional news with you. Today LB196 was presented for final reading to the legislature, it passed the vote and is now on to the Governor’s Office for his signature. Once Govorner Pillen signs the bill it will become law. The bill will take effect starting July 1st, 2024. Beginning July 1st, your retirement contributions will reduce from 16% (Tier 1) or 17% (Tier 2) to 10% for everyone. Everyone is going to see an extra 6 or 7% in their paychecks every month.

This bill does not change what you will receive in retirement benefits - only the contribution that you make while employed.

I would like to personally thank all of you who took the time to reach out to Senators and let them know how important this legislation was to us all. I can not emphasize enough how crucial and influential that personal contact from all of you was. 

Passing this bill was a team effort. From the STAN Board originally working with Senator Bostar to introduce the legislation, then collaborating with additional Senators and Govorner Pillen and his staff to overcome roadblocks, to members reaching out to garner support from individual Senators. This took a lot of work, time, and energy, and I am incredibly happy with the results we were able to achieve. I hope you are too.

I also want to recognize Senators Conrad, McDonnell, Vargas, Wishart, and Blood who not only voted for this bill, but actively supported, spoke in favor of, or encouraged other senators to vote for this bill.