OK HB1474

Amends Oklahoma statute 74 O.S. 2011, Section 840-2.28 to authorize state agencies to offer voluntary out benefits to permanent classified and regular unclassified employees with one or more years of continuous state service during an imminent reduction-in-force.

All voluntary out benefit packages must include 18 months of health insurance premium payments for employee only and a longevity payment equal to what would be paid on the employee's next anniversary date.

Agencies may offer additional optional benefits including up to one week of pay per year of service, maximum $5,000 lump-sum payment, payment for accumulated sick leave at up to one-half hourly rate, or COBRA health benefit premiums for up to 18 months.

Employees may direct voluntary out benefits toward education vouchers up to $3,000 (with matching agency contribution) for tuition and fees at Oklahoma educational institutions, valid for four years.

Employees who accept voluntary out benefits are generally ineligible for future benefits under this section, except those whose positions are being abolished due to reorganization when a reduction-in-force is imminent may receive more than one benefit.

Effective November 1, 2015.