Oklahoma SB254 authorizes the Department of Labor to contract with a third-party actuary for a paid family and medical leave insurance program.
Oklahoma SB254 authorizes the Department of Labor to contract with a qualified third-party actuary to conduct an actuarial study for a paid family and medical leave insurance program. The study will consider program parameters, including coverage of all employees, premium costs, and benefits. The actuary will model and compare at least two program models, assess a timeline for implementation, and utilize relevant data. The study will follow Actuarial Standards of Practice and the Department will promulgate necessary rules. The act becomes effective November 1, 2025.
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