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OK SB1116
Bill
Status
2/4/2013
Primary Sponsor
Patrick Anderson
Click for details
AI Summary
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Creates the "Teachers' Retirement System Cost-of-Living Adjustment Revolving Fund" in the State Treasury for the Teachers' Retirement System of Oklahoma
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Fund shall be a continuing fund not subject to fiscal year limitations and receive monies from sources designated by law
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Expenditures from the fund require legislative appropriation and can only be used to pay for legislatively authorized cost-of-living adjustments for Teachers' Retirement System retirees and beneficiaries
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Effective date is July 1, 2013, with an emergency clause declaring immediate effectiveness upon passage and approval
Legislative Description
Public retirement systems; creating the Teachers' Retirement System Cost-of-Living Adjustment Revolving Fund. Effective date. Emergency.
Retirement
Last Action
Second Reading referred to Pensions
2/5/2013