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HB1335

Public retirement systems; Oklahoma Pension Legislation Actuarial Analysis Act; definition; term; retirement benefit increase; Oklahoma Firefighters Pension and Retirement System; Oklahoma Police Pension and Retirement System; Uniform Retirement System for Justices and Judges; Oklahoma Law Enforcement Retirement System; Teachers' Retirement System of Oklahoma; Oklahoma Public Employees Retirement System; limitation; funded ratio; conditions; offset; amount; codification; effective dates.

Introduced·2/3/25
Int Text

Oklahoma HB1335 provides a retirement benefit increase for Oklahoma public retirement systems, contingent on the funded ratio.

Oklahoma HB1335 introduces a retirement benefit increase for Oklahoma public retirement systems, including the Oklahoma Firefighters Pension and Retirement System, the Oklahoma Police Pension and Retirement System, and others. The increase is set at 4% if the funded ratio of the retirement system will be at least 80% after the increase. If the funded ratio falls below 80%, the increase is reduced to 2%. The increase is effective November 1, 2025.

Included in complete analysis

  • Overview
  • Core Provisions
  • Implementation
  • Impact
  • Legal Framework
  • Critical Issues

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Where it stands

Current
Rules Committee
Next
Committee decision

Sponsors

0
1
R
Democratic CaucusRepublican Caucus

History

Feb 4, 2025

House

Second Reading referred to Rules

Feb 3, 2025

House

First Reading

Feb 3, 2025

House

Authored by Representative Humphrey