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OK HB1237
Bill
Status
2/3/2025
Primary Sponsor
Justin Humphrey
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AI Summary
HB 1237 Summary
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Increases death benefits for retired members across six Oklahoma public retirement systems from $5,000 to $10,000, effective November 1, 2025.
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Applies to the Oklahoma Firefighters Pension and Retirement System, Oklahoma Police Pension and Retirement System, Uniform Retirement System for Justices and Judges, Oklahoma Law Enforcement Retirement System, Teachers' Retirement System of Oklahoma, and Oklahoma Public Employees Retirement System.
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Changes affect retired members who die on or after the effective date, while members who died prior to July 1, 1999 continue receiving $4,000 benefits.
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Maintains existing probate waiver procedures and beneficiary designation rules for all affected retirement systems.
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Certified as a fiscal bill by actuarial analysis.
Legislative Description
Public retirement systems; Oklahoma Firefighters Pension and Retirement System; Oklahoma Police Pension and Retirement System; Uniform Retirement System for Justices and Judges; Oklahoma Law Enforcement Retirement System; Teachers' Retirement System of Oklahoma; Oklahoma Public Employees Retirement System; death benefit amount; effective date.
Last Action
Referred to Actuary pursuant to the Oklahoma Pension Legislation Actuarial Analysis Act
2/19/2025