41-1720. Parity compensation fund

A. The parity compensation fund is established consisting of monies deposited pursuant to section 28-5808 and monies appropriated by the legislature. The department shall administer the fund and, considering state revenues and state employee pay adjustments.  The department shall spend monies from the fund for salaries and benefits for law enforcement personnel that the department determines will enhance the ability of the department to successfully recruit and retain qualified law enforcement personnel.  In determining the amount of the expenditures from the fund, the department shall annually establish and consider benchmarks based on the average total compensation for each comparable law enforcement personnel rank of the department's three largest county or municipal peer law enforcement agencies in this state. For the purposes of this subsection, "total compensation" includes base salary, educational incentive pay, physical performance pay, longevity pay and retirement contributions made by an employer on behalf of an employee.

B. On notice from the department, the state treasurer shall invest and divest monies in the fund as provided by section 35-313, and monies earned from investment shall be credited to the fund.

C. Fund monies:

1. Do not revert to the state general fund.

2. Are exempt from the provisions of section 35-190 relating to lapsing of appropriations.

3. Are subject to legislative appropriation.