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OK HB1245

Bill

Status

Introduced

2/3/2025

Primary Sponsor

Judd Strom

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Origin

House of Representatives

2025 Regular Session

AI Summary

HB1245 Summary

  • Expands retirement benefits for CLEET-certified law enforcement agents employed by the Department of Human Services Office of Inspector General hired on or after July 1, 2025, making them eligible for the 2.5% retirement multiplier and 20-year vesting provisions under the Oklahoma Public Employees Retirement System.

  • Allows agents hired prior to July 1, 2025, to elect retroactive application of the enhanced 2.5% retirement benefit for service prior to that date or to purchase prior service credit, with an election deadline of December 31, 2025.

  • Extends survivor pension benefits to beneficiaries of deputy sheriffs and county jailers hired before November 1, 2020, and law enforcement agents hired after July 1, 2025, who are killed or mortally wounded in the performance of duties, providing 2.5% of final average compensation multiplied by 20 years of service divided by 12.

  • Increases employee contribution rates to 8% of allowable compensation for CLEET-certified law enforcement agents employed by the Department of Human Services Office of Inspector General and deputy sheriffs/jailers hired beginning November 1, 2024.

  • Effective July 1, 2025, with an emergency clause declaring immediate effect upon passage and approval.

Legislative Description

Retirement; Oklahoma Public Employees Retirement System; term; retirement benefit computation; monthly pension; references; employee contributions; effective date; emergency.

Last Action

Referred to Actuary pursuant to the Oklahoma Pension Legislation Actuarial Analysis Act

2/19/2025

Committee Referrals

Banking, Financial Services and Pensions2/4/2025
Government Oversight2/4/2025

Full Bill Text

No bill text available