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OK SB705
Bill
Status
2/4/2013
Primary Sponsor
Rick Brinkley
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AI Summary
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Amends 11 O.S. 2011, Section 48-101 relating to municipal retirement funds and systems for city and town employees.
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Clarifies that municipalities may establish retirement systems as delayed compensation to encourage continuous and meritorious service.
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Allows retirement systems to cover all municipal employees engaged in governmental or nongovernmental functions of the municipality or municipal authority.
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Specifies that retirement funds may be supported wholly by the municipality/authority or through joint contributions by the municipality/authority and employees.
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Effective date: November 1, 2013.
Legislative Description
Cities and towns; clarifying language relating to municipal retirement. Effective date.
Cities and Towns
Last Action
Second Reading referred to Rules
2/5/2013