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2008 Legislation

Senate Bill 1641

Revision to Elected Officials’ Benefits

Senate Bill 1641 becomes effective Aug. 21, 2008, and closes a benefit provision that allows non-elected service to be counted the same as elected service for retirement. Prior to the passage of this bill, any regular, non-elected member of OPERS who finished their career as an elected official, and had at least six (6) years in elected office, was able to count all of their non-elected service as if they were in office for their entire career. This may have given certain elected officials a larger pension than they actually paid for throughout their career. Members who are elected officials prior to the effective date of the bill are not affected by the change in law. Current OPERS members who are elected after the effective date will have a benefit cap of 100% of their highest annual salary that they received. Members who join OPERS after the effective date of the bill will receive a benefit consisting of two separate calculations. Non-elected years will be multiplied by 2%, and elected years multiplied by the applicable percentage selected and paid for by the member.

House Bill 3112

OPERS Retiree Cost of Living Adjustment

House Bill 3112 provides that any person receiving benefits from OPERS as of June 30, 2007, who is still receiving the benefit on July 1, 2008, will receive a 4% cost of living adjustment applied to their gross benefit amount paid beginning July 2008.

Rules Changes for Retirees Returning to Work

House Bill 3112 prevents a retiring member from returning to work with the same employer from which he or she retired for a period of one (1) year, unless electing to waive the receipt of their OPERS retirement benefit during that re-employment period.  

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.

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

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