Current through 2024 Session Acts Chapter 111 and 2024 Special Session Acts Chapter 4
Section 74-49,305 - Member contributions(a) An active member shall contribute 6% of compensation to such member's annuity savings account. Such contributions shall be picked up by the employer via a salary reduction as provided in section 414(h)(2) of the federal internal revenue code. An employer may not pick up these contributions without a corresponding salary reduction as provided in section 414(h)(2) of the federal internal revenue code.(b) A member may not make voluntary contributions to the plan.Added by L. 2012, ch. 171,§ 5, eff. 7/1/2012.