Oklahoma HB3236 modifies the Oklahoma Pension Legislation Actuarial Analysis Act to allow the Oklahoma Teachers' Retirement System Board of Trustees.
Oklahoma HB3236 amends the Oklahoma Pension Legislation Actuarial Analysis Act to allow the Board of Trustees of the Oklahoma Teachers' Retirement System to grant annual retirement benefit increases based on changes in the Consumer Price Index for Urban Wage Earners and Clerical Workers. The increase is subject to the condition that the funded ratio of the retirement system remains above 80% after the increase. The benefit increase cannot exceed 2% of the gross annual retirement benefit or $1,200.
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