Van Full
This site is intended as an informational tool only. It does not constitute a plan document or summary plan description.

OPERS reserves the right to correct any errors contained herein. For additional information please review our complete disclaimer for content on the OPERS web site.

Legislation


2009 Legislation

There was one bill passed during the 2009 legislative session that impacted OPERS members. Below is a description of SB 899 which amends the “felony forfeiture” provision in 51 Okla. Statutes, Section 24.1. Senate Bill 212 amends a provision of law dealing with the Board of Trustees’ authority to set employer contribution rates for the URSJJ. House Bill 1254 provides additional funding to the URSJJ.

Senate Bill 899

This bill amends 51 O.S. § 24.1 dealing with the loss of public officials’ positions and pensions if they are convicted of certain crimes. Under prior law, state officers and employees could lose their state pensions if the crime amounted to a “violation of the oath of office” of that official. This provision was removed and replaced by identifying specific crimes that will forfeit an official’s pension. Felony crimes such as bribery, forgery, perjury and campaign-related offenses are all specifically identified. In addition, other felony crimes related to the official’s office or employment will trigger a forfeiture. The procedure followed by the retirement system when receiving notice of a conviction or plea of guilt to one of these crimes is spelled out. When the system receives such notice, the pension of that individual is suspended with the right of an appeal to the system. The Governor signed the bill on April 21, 2009.

Senate Bill 212

This bill deletes the mandatory requirement that the URSJJ never fall below a 100% funded ratio. Instead, a target of “at or near” a 90% funded ratio is adopted, coupled with the preservation of the Board’s ability to adjust contribution rates. The bill makes the contribution rate setting power of the Board more flexible. Under prior law, once the URSJJ has a funded ratio below 100%, the Board had to set a very high employer contribution rate. It had to be high enough to get the funded ratio back to 100% in a single fiscal year. Under the revised law, the Board and staff can work toward achieving the setting and collecting of the actuarially determined employer rate over a period of time. The Governor signed the bill on June 1, 2009.

House Bill 1254 

This bill was a spending bill for the Court System. It provides in Section 9 that $6 million in the Supreme Court’s Management Information System’s fund, may be used to pay employer contributions to the URSJJ. The Governor signed the bill on June 2, 2009.  


Legislative Update 

COLA Being Studied for 2020
The 2019 regular session of the Oklahoma Legislature adjourned without passing any legislation which directly impacts members of OPERS. However, HB 2304 and HB 2485 were both referred to the legislative actuary as required by the Oklahoma Pension Legislation Actuarial Analysis Act. This means the bills will be studied over the interim and could be voted on by the legislature in 2020. The major provisions of the two bills propose a cost of living adjustment (COLA) for retirees.
HB 2304 proposes a two percent (2%) COLA for members who were retired as of December 31, 2018, and still receiving a benefit as of January 1, 2020.
HB 2485 proposes a four percent (4%) COLA for members who were retired as of December 31, 2018, and still receiving a benefit as of January 1, 2020.


For more information on interim studies, visit the websites below.
www.okhouse.gov www.oksenate.gov

Click on the links below for past legislation.

2018 Legislation

2017 Legislation
2016 Legislation
2015 Legislation
2014 Legislation
2013 Legislation
2012 Legislation
2011 Legislation
2010 Legislation
2009 Legislation
2008 Legislation
2007 Legislation
2006 Legislation






[ Home ] [ Contact Us ] [ Site Map ] [ Disclaimer ]
© 2008 Oklahoma Public Employees Retirement System, All Rights Reserved.