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LIBA Supports County Retirement Match Adjustments

The Lincoln Independent Business Association (LIBA) supports moving the retirement match for non-union Lancaster county employees and elected officials from 150% to a still generous 100% retirement match.

In 2012 LIBA worked with the County Board and Lincoln’s State Senators to pass LB 687. This statutory amendment enabled the county to move from a 150% retirement match to a 100% retirement match.  LIBA supported this legislation as a measure to control personnel costs and to bring public taxpayer funded retirement benefits in line with private sector benefits. It is simply inequitable to demand taxpayers fund retirement benefits more generous than those earned by most employees in the private sector.

Since LB 687 passed in 2012 the County has negotiated four of its five employee unions from a 150% match to a 100% match.  It is now appropriate to move the non-union employees to a similar 100% retirement match.

For the past several years the Lancaster County budget has faced significant funding shortfalls and County Commissioners have turned to one time monies to fill gaps.  With personnel costs accounting for over half of the County’s General Fund budget the County must control personnel costs in order to control its budget. Though immediate savings from this change will be small, it is the first step towards future savings and maintaining a responsible county budget.

Therefore, LIBA supports changing the retirement match for non-union employees from 150% to 100% as a necessary step to bring county benefits in line with private sector retirement benefits and create future savings to help balance the County budget.