HB 1383 Summary

• Amends the Oklahoma Law Enforcement Retirement System benefit computation formula in 47 O.S. 2011, Section 2-305

• Members hired on or after the effective date of the act shall have retirement benefits calculated using only their final average salary and years of credited service, not the "top pay" of active members

• Existing provisions using top pay of active members shall not apply to members whose first participating service occurs on or after the bill's effective date

• Declares an emergency, making the act effective immediately upon passage and approval