Sec 38-905.03. Ad hoc increase in retirement benefits; analysis by the joint legislative budget committee

From and after December 31, 2015, the legislature may enact permanent one-time increases in retirement benefits for eligible retirees and survivors of the plan after an analysis of the effect of the increase on the plan by the joint legislative budget committee. The joint legislative budget committee shall analyze the effect of the permanent benefit increase considering the funded status of the plan, the length of time since the last benefit increase, the increase in the cost of living since the last increase, the current economic condition of this state, recent investment performance of the plan, the overall view of the economy and market and the total cost of the benefit increase to the plan.