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OK HB2647
Bill
Status
2/1/2016
Primary Sponsor
Jerry McPeak
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AI Summary
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Replaces the existing nonvoting Board of Trustees member representing retired educators with a new voting member appointed by a statewide organization with at least 7,000 dues-paying retired educator members
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Sets a three-year term of office for the new voting member position, with eligibility for successive terms and service beginning January 1 following the effective date
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Increases the required votes for Board decisions from seven to eight once the new voting member appointment is made
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Allows a second qualifying organization to share the position through alternating service during the three-year term, but only after the first full term expires
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Effective date of November 1, 2016; classified as a non-fiscal retirement bill with no benefit increases or new liabilities
Legislative Description
Public retirement systems; Teachers’ Retirement System of Oklahoma; Board of Trustees; effective date.
Last Action
Second Reading referred to Business, Labor and Retirement Laws
2/2/2016