§ 16-1006 — Contributions by city; amount; how credited; interest; when

Nebraska § 16-1006

• Jurisdiction: Nebraska
• Ch. 16: Cities of the First Class

Text

Each city of the first class shall contribute to the retirement system
a sum equal to one hundred percent of the amounts deducted, in accordance with
subsection (1) of section 16-1005 , from each such police officer's periodic salary.
Such payment shall be contributed as provided in subsection (1) of section 16-1005 for employee contributions and shall be credited to the
police officer's employer account on a monthly basis. Each such
account shall also be credited with regular interest. The city shall also
contribute to the employer account of any police officer employed by the city
on January 1, 1984, an amount equal to the employee contributions of such
police officer that were made to the city prior to January 1, 1984, without
interest, with such contribution to be made at the time the police officer
retires or terminates employment with the city. The city may contribute such
amount before the police officer's retirement or termination of employment
or credit interest on such contribution.

Legislative History

Source: Laws 1983, LB 237, § 6; Laws 1992, LB 672, § 10; Laws 2012, LB1082, § 6.