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OK HB1609
Bill
Status
2/7/2011
Primary Sponsor
Dennis Casey
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AI Summary
HB1609 Summary
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Amends 74 O.S. 2001, Section 902 to modify the definition of "participating employer" in the Oklahoma Public Employees Retirement System (OPERS)
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Allows State Department of Education and Oklahoma Department of Career and Technology Education to participate in OPERS, but only for employees first employed after the effective date who previously retired from the Teachers' Retirement System of Oklahoma
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Requires these newly hired retired teachers to be members of OPERS for all purposes, including payment of employer and employee contributions for their participating service
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Establishes July 1, 2011 as the effective date and declares an emergency
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Bill is designated as nonfiscal under the Oklahoma Pension Legislation Actuarial Analysis Act
Legislative Description
Public retirement systems; Oklahoma Public Employees Retirement System; participating employers; State Department of Education; Oklahoma Department of Career and Technology Education; effective date; emergency.
Government
Last Action
Second Reading referred to Economic Development, Tourism and Financial Services
2/8/2011