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OK HB1377
Bill
Status
2/2/2015
Primary Sponsor
James Lockhart
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AI Summary
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Establishes the "DIGNITY Health Care Cost Savings Revolving Fund" effective July 1, 2015, to be funded by payroll cost savings when state employees retire.
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Transfers salary amounts exceeding the starting salary of replacement employees to the fund, with funds used to match $105.00 payments authorized under Oklahoma law so retired employees receive $210.00 total.
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Prohibits the fund from being subject to legislative appropriation and restricts its use solely to matching retiree health care payments as specified.
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Creates a continuing revolving fund not subject to fiscal year limitations, with expenditures made by the Oklahoma Public Employees Retirement System Board of Trustees upon State Treasurer warrants.
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Declares an emergency to make the act effective immediately upon passage and approval, in addition to the July 1, 2015 effective date.
Legislative Description
Public finance; Doubling the Investments and Guarding Integrity Through Younger Employees Act; payroll cost savings; retiree health care costs; effective date; emergency.
Health Care
Last Action
Second Reading referred to Rules
2/3/2015