Oklahoma HB4231 amends retirement benefits for firefighters, increasing computation factors for accrued and disability retirement benefits, modifying.
Oklahoma HB4231 amends the Oklahoma Pension Legislation Actuarial Analysis Act to redefine terms related to retirement systems. It increases the computation factor for accrued retirement benefits and modifies the computation for disability retirement benefits. The bill also changes the computation for monthly retirement annuities based on years of service and adjusts the municipal contribution rates. Effective dates for these changes are contingent on the approval of an emergency clause, with default dates set for November 1, 2026, and October 1, 2026, if the clause is not approved.
Included in complete analysis
- Overview
- Core Provisions
- Implementation
- Impact
- Legal Framework
- Critical Issues
See what it does, who it affects, and the critical issues in plain language. Free, 30 seconds.