HB1458

Oklahoma HB1458 amends the Oklahoma Public Employees Retirement System to allow beneficiaries to disclaim death benefits and transfer them to another.

Oklahoma HB1458 amends the Oklahoma Public Employees Retirement System to allow beneficiaries to disclaim death benefits and transfer them to another person. The System must receive proof of death and certain documents from the heirs before waiving probate procedures. The System can pay death benefits directly to the beneficiary or the estate if no beneficiary exists. The System is discharged from liability, obligation, and costs after paying benefits. The act becomes effective November 1, 2025.