SB716

Oklahoma SB716 increases employer contributions to the Oklahoma Police Pension and Retirement System, effective July 1, 2025.

Oklahoma SB716 amends the Oklahoma Police Pension and Retirement System by increasing the minimum contribution rate for members from eight percent to eleven percent, effective July 1, 2025. Municipalities are required to pick up these contributions from members' salaries. The bill declares an emergency, allowing it to take effect immediately. Late payments by municipalities incur a monthly late charge of five percent. The bill also updates statutory references and clarifies tax treatment of picked-up contributions.