OK SB12

Provides a 5% increase in benefits for all persons receiving payments from the Oklahoma Police Pension and Retirement System as of June 30, 2025, who continue to receive benefits after the effective date.

Exempts members who joined prior to January 1, 1981, from the full benefit increase if they are subject to a formula that adjusts their pension by one-third (1/3) of changes to regular police officer base salary.

For pre-1981 members, any benefit increase under this section shall be offset by increases in benefits they became eligible to receive after July 1, 2020.

Establishes a new section in Oklahoma Statutes as Section 50-136.10 of Title 11 to codify these benefit provisions.