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OK SB1112
Bill
Status
2/4/2013
Primary Sponsor
Don Barrington
Click for details
AI Summary
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Provides a two percent increase in benefits for persons receiving benefits from the Teachers' Retirement System of Oklahoma as of July 1, 2012, effective July 1, 2013
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Applies increase to survivor benefits under subsection (3) of Section 17-105 of Title 70 for beneficiaries whose benefits commenced prior to July 1, 2012
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Funding source: monies from the permanent cost-of-living adjustment (COLA) revolving fund in the Office of the State Treasurer or legislative appropriation
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Requires that any COLA granted to TRS annuitants be at least equal in percentage to the highest COLA granted to other Oklahoma state retirement system members in the same legislative session
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Takes effect July 1, 2013 and declares an emergency
Legislative Description
Teachers Retirement System of Oklahoma; providing benefit increase. Effective date. Emergency.
Retirement
Last Action
Second Reading referred to Pensions
2/5/2013