Oklahoma HB4263 amends the Oklahoma Pension Legislation Actuarial Analysis Act to modify definitions and provisions related to public retirement.
Oklahoma HB4263 amends the Oklahoma Pension Legislation Actuarial Analysis Act by modifying the definition of "nonfiscal amendment" and "reduction-in-cost amendment." It also changes provisions for certain employees of the Department of Career and Technology Education, allowing them to remain in the Teachers' Retirement System of Oklahoma or join the Oklahoma Public Employees Retirement System. The bill specifies that certain amendments are nonfiscal if they do not affect the cost or funding factors of a retirement system.
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- Legal Framework
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