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Omaha public utility hasn't followed 2014 pension status law

LINCOLN, Neb. (AP) — The Omaha Public Power District hasn't complied with a Nebraska law passed two years ago that requires government entities to report the status of their underfunded pension systems to the Legislature.

The Omaha World-Herald reports that state Sen. Mark Kolterman of Seward, chairman of the Legislature's Retirement Systems Committee, told the district's president and CEO, Tim Burke, in a letter that the issue recently came to the committee's attention. The committee asked the public utility to submit a report of its defined benefit retirement plan's fiscal health.

The district must also appear before state lawmakers before the legislative session ends April 20.

Kolterman says the goal is to make sure the committee understands what the public utility's plans are because the legislatures have a fiduciary liability.

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