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OK SB1212
Bill
Status
2/6/2012
Primary Sponsor
Don Barrington
Click for details
AI Summary
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Authorizes a 2% increase in retirement benefits for members of the Teachers' Retirement System of Oklahoma receiving benefits as of June 30, 2011, effective July 1, 2012.
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Applies the 2% benefit increase to members whose benefits began prior to July 1, 2011, including those receiving disability or survivor benefits.
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Appropriates $165,000,000 from the General Revenue Fund for fiscal year 2013 to fund the increased retirement benefits.
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Effective July 1, 2012, with emergency declaration allowing immediate implementation upon passage and approval.
Legislative Description
Teachers' Retirement System of Oklahoma: providing for cost-of-living adjustment; making appropriation. Effective date. Emergency.
Retirement
Last Action
Pending authorship Representative(s) Walker
2/9/2012