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OK SB1418

Bill

Official Source

Status

Introduced

2/1/2016

Primary Sponsor

John Sparks

Click for details

Origin

Senate

2016 Regular Session

AI Summary

  • Increases the death benefit for deceased annuitants (retired members who contributed to the Teachers' Retirement System) from $5,000 to $7,500
  • Raises the threshold for probate waiver procedures from $5,000 to $7,500, allowing the System to pay death benefits, unpaid contributions, or unpaid benefits without court intervention when amounts fall below this limit
  • Updates statutory references by changing "this act" to "Section 17-101 et seq. of this title" for clarity
  • Effective date set for July 1, 2016, with an emergency clause allowing immediate effect upon passage and approval

Legislative Description

Pensions; Teachers' Retirement System; modifying amount of death benefit. Effective date.

Last Action

Second Reading referred to Pensions

2/2/2016

Committee Referrals

Pensions2/2/2016

Full Bill Text

No bill text available