OK SB527

Amends 19 O.S. 2011, Section 954 to modify county employees' retirement fund contribution caps and appropriation requirements.

Establishes escalating appropriation percentage caps based on fiscal year, increasing from 13.5% (July 1, 2007) to 17% (July 1, 2017 and each year thereafter) of current annual employee salaries.

Changes the maximum combined employer and employee contribution limit from 16.5% to 17% of monthly compensation per member, effective July 1, 2017.

Permits participating employers to vary the split between employer and employee contributions, provided the total percentage equals the required amount.

Passed the Oklahoma Senate on March 20, 2017.