House Bill 3350 (Rep. Avery Frix & Sen. Roger Thompson)
Effective July 1, 2020
OPERS and URSJJ members, who were receiving a benefit as of June 30, 2019 and who continue to receive benefits on or after July 1, 2020, will receive a cost of living adjustment (COLA). The COLA is an increase based on the number of years retired.
|Number of Years Retired as of July 1, 2020||COLA Adjustment|
|Less than two years||No adjustment|
|At least two years, but less than five years||2% increase|
|Five years or more||4% increase|
Communication will be sent to retirees eligible for the COLA in late July, and the increase will be effective for the benefit deposit on July 31, 2020.
Hazardous Duty – Deputy Sheriffs & County Jailers
House Bill 2272 (Rep. Josh West & Sen. Paul Rosino)
Effective Nov. 1, 2020
This bill created a new group of “hazardous duty” members in OPERS. Deputy sheriffs and jailers who are hired by a participating county as deputy sheriff or jailer for the first time on or after November 1, 2020, will participate in the hazardous duty plan. This plan is open only to members who have not worked as a deputy sheriff or jailer prior to November 1, 2020.
Quartz Mountain Transfer
House Bill 2753 (Rep. Jon Echols & Sen. Roger Thompson)
Effective Oct. 1, 2020
This bill transfers Quartz Mountain to the Oklahoma Tourism and Recreation Department. An employee transferred under this act, who is a member of the Teachers’ Retirement System of Oklahoma or the Oklahoma Law Enforcement Retirement System, may elect to remain a member of the applicable system or may elect to become a member of the OPERS or Pathfinder system, depending on their elgibility. Employees will need to complete a form by Nov. 1, 2020, to indicate which system they select.