OPERS plays an important role in helping its members achieve a secure and lasting retirement. To protect this benefit, changes to plan provisions and how we administer benefits follow structured processes. This provides transparency and accountability for our members. Here is a simplified version of the process.
Big changes are enacted by the Legislature
Major updates to state law for items like benefit amounts, contributions, eligibility requirements, and Cost of Living Adjustments (COLAs) must go through the Oklahoma Legislature.
- A legislator introduces a bill in the House of Representatives or Senate with proposed changes.
- For a bill starting in the House, it first goes to a House committee for discussion, possible amendments and a vote. If the bill is approved by the committee, then the bill is presented to the full House for amendments, questions, debate, and a vote.
- If the bill is approved by the House it next moves to the Senate and follows the same process.
- Any changes made between the House and Senate must be approved by another vote.
- Once a bill has passed through both the House and Senate it goes to the Governor’s desk for approval or veto.
Even this oversimplification shows how complicated the process is. The legislative process gives the opportunity for ideas to be looked at from different points of view before becoming law. Most bills introduced at the beginning of the legislative session don’t make it through the entire process, and those that do often change many times along the way.
Bills with a fiscal impact take a pause
Some bills impact the retirement system fiscally, such as COLAs. Under the Oklahoma Pension Legislation Actuarial Analysis Act (OPLAAA), any bill that might affect the system’s financial standing must go through an actuarial investigation. This determines how much the proposed change would cost the system now and in the future. This actuarial investigation takes place in the interim between legislative sessions, and the bill will be presented with the findings of the investigation when the legislative process resumes the following year.
Not all changes require new laws
Changes to the way OPERS implements and interprets laws can be made through administrative rules. For example, rules can change the methods OPERS uses to accept retirement applications or how to calculate service credit. Here’s a simplified overview of how rule changes happen:
- OPERS staff draft proposed administrative rule changes and hold public comment periods, allowing the public to provide feedback.
- The OPERS Board of Trustees reviews the administrative rules, and any comments received and then votes on whether to approve them.
- The rule changes then go to the Legislature and Governor for final approval.
Stay in the know! You can follow along and track proposed and approved rules and bills on the following websites.
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This article was first published in the Summer 2025 edition of the Retiring Right newsletter. You can view current newsletters and previous newsletters on our Publications pages. Not receiving your newsletter, update your address by completing the Change of Address form.