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2013 Legislative Summary Newsletter

The 2013 Legislative Summary edition of the Retiring Right newsletter will be hitting mailboxes in the next few days. There were three bills that impact OPERS this year. Below is a quick summary, but please read the full newsletter and legislative summary on our website.

HB 1325 (Rep. Randy McDaniel and Sen. Rick Brinkley)

  • Final Average Salary for new members. This bill changed how the “Final Average Salary” is calculated for new members who join on or after July 1, 2013.

  • Administrative changes for data reporting, probate waivers and death benefit payments.

HB 1477 (Rep. Kim David and Sen. Jason Murphy)

  • OPERS Board of Trustees. This bill puts the Director of Human Capital Management back on the board, as well as allows the Corporation Commission member of the board to send a designee in his or her place.

SB 847 (Sen. Clark Jolley & Rep. Scott Martin)

  • Pension Stabilization Revolving Fund. Under this bill, surplus funds in excess of those going to the State’s “Rainy Day Fund” will go into a revolving fund. The Legislature may appropriate any such funds to pension systems with a funded ratio below 90%. Priority will be given to the lowest funded pension systems.

To read the entire legislative summary and OPERS Newsletter, click here.

Road Show coming this fall

We are in the process of developing dates, times and locations for the annual retirement coordinator training seminars held around the State in the fall. We will be in contact with you as details are confirmed, so be on the lookout for an invitation in the coming weeks.

As always, please let us know if there is anything we can do to be of assistance to you. We appreciate your continued support and valued partnership.

Sincerely,
Your friends at OPERS

 


Oklahoma Public Employees Retirement System

Web Address:       www.opers.ok.gov 
Mailing Address: 
PO Box 53007, Oklahoma City, OK 73152-3007
Phone Number:  
(800) 733-9008

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