Nebraska governor vetoes bill to transfer administration of Omaha plan
Gov. Pete Ricketts, R-Neb., speaks at an event in 2018.
Nebraska Gov. Pete Ricketts vetoed a bill that would transfer the administrative duties of the $1.4 billion Omaha School Employees Retirement System to a state board.
In a veto letter Tuesday, Mr. Ricketts, a Republican, said the legislation is poor public policy and continues the slippery slope of the state taxpayer bailout to the OPS pension plan.
The bill would permit the state s Public Employees Retirement Board, Lincoln, to take over day-to-day operations of OSERS from Omaha Public Schools beginning in 2024. The investment responsibilities for OSERS were transferred in 2016 to the Nebraska Investment Council, Lincoln, which oversees $34 billion.