OK HB1458

Beneficiaries of Oklahoma Public Employees Retirement System death benefits may disclaim the benefits in writing, transferring them to a licensed funeral director or funeral services business entity

Disclaimers must be irrevocable, unqualified, and received within 9 months after the transfer creating the interest or after the disclaiming person reaches age 21, whichever is later

The retirement system is discharged from all liability, obligations, and costs after paying death benefits to beneficiaries or the member's estate under this provision

Death benefits remain $5,000 for retired members who died on or after July 1, 1999, and $4,000 for those who died prior to that date

Effective date: November 1, 2025