OK HB1091

Amends the Oklahoma Firefighters Pension and Retirement System to define "contributions" and "accumulated contributions" separately, clarifying that contributions exclude payments for service credit repurchases, transfers from other systems, and military service purchases

Modifies death benefit provisions so estates receive the difference between total employee contributions (including service credit purchases) and total benefits paid, rather than the previous calculation method

Increases the interest rate for repurchasing credited service from 5% to 10% annually and allows members to amortize repayments over up to 60 months through after-tax payroll deductions

Establishes new procedures for purchasing transferred credited service from other retirement systems, requiring members to be active paid members for at least 30 months and providing 90 days to pay the computed purchase price

Allows members to purchase up to 5 years of prior military service credit at actuarial cost, including volunteer members, with payment options including trustee-to-trustee transfers, direct rollovers, certified checks, or amortized payments over 60 months