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OK SB1102
Bill
AI Summary
- Creates the Teachers' Retirement System Cost-of-Living Adjustment Revolving Fund in the State Treasury as a continuing fund not subject to fiscal year limitations
- The fund will receive monies from sources designated by law for the Teachers' Retirement System of Oklahoma
- Expenditures from the fund require legislative appropriation and can only be used to pay for legislatively authorized cost-of-living adjustments for retirees or beneficiaries
- The act becomes effective July 1, 2012
- Includes an emergency clause for immediate effect upon passage and approval
Legislative Description
Public retirement systems; creating the Oklahoma State Retirement Systems Revolving Fund. Effective date. Emergency.
Retirement
Last Action
CCR submitted
5/24/2012
Committee Referrals
Retirement and Insurance2/7/2012
Full Bill Text
No bill text available