HB 1383 Summary

• Amends 47 O.S. 2011, Section 2-305 regarding the Oklahoma Law Enforcement Retirement System retirement benefit computations.

• Modifies benefit calculation rules so that members hired on or after the effective date of the act cannot use "top pay" of active members in their retirement benefit calculations; instead benefits are based solely on final average salary and years of credited service.

• Maintains existing benefit structures for members with statutory salaries (Highway Patrolmen, Capitol Patrolmen, Lake Patrolmen, OSBI Special Agents, and certain other positions) hired before the effective date.

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