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OK SB1128
Bill
Status
4/27/2016
Primary Sponsor
Patrick Anderson
Click for details
AI Summary
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Creates the "Pension Improvement Act" and establishes the Oklahoma Pension Improvement Revolving Fund in the State Treasury
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Fund operates as a continuing revolving fund not subject to fiscal year limitations
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Expenditures require legislative appropriation and are restricted to two purposes: paying for legislatively authorized cost-of-living adjustments for state retirees and beneficiaries, or reducing unfunded liabilities of state retirement systems
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Fund will receive monies from sources designated by law for the benefit of retired members and beneficiaries of Oklahoma's state retirement systems
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Passed Senate on March 1, 2016 and House of Representatives on April 18, 2016
Legislative Description
Pensions; creating the Pension Improvement Act; creating the Pensions Improvement Revolving Fund.
Last Action
Approved by Governor 04/26/2016
4/27/2016