Pension plan approved
LEXINGTON, Neb. (AP) - The Lexington City Council has approved a
tax-qualified pension plan for the city's volunteer firefighters.
Firefighters are allowed to retire at the age of 65 to receive
benefits, according to a plan approved earlier this week. In the
seventh year of service, benefits become fully vested. Widows would
also be entitled to those benefits.
A point system, based on the firefighter's activity in
responding to calls and fulfilling requirements for meetings and
training programs, would determine such benefits.
Nebraska law permits cities to establish retirement plans for
volunteer fire departments just as it does for full-time
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