Associated Press
LINCOLN, Neb. — Firefighters and police officers are protesting a pension overhaul bill aimed at Nebraska’s two largest cities.
The bill set for a hearing Tuesday would offer a cash-balance retirement plan to newly hired officers and firefighters in Omaha and Lincoln, rather than a traditional pension. Cash-balance plans are similar to pension plans but also have characteristics of 401(k)-style plans.
Supporters say cash balance plans would help Omaha and Lincoln address their pension liabilities. The cities’ firefighter and police unions say they would endanger public safety by making it harder to recruit new firefighters and police officers. They also argue that employees would be more likely to leave for other cities that offer better benefits.
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