OK HB3313

Increases the employer matching contribution rate from 6% to 7% of employee compensation for participants in Oklahoma's defined contribution retirement system, effective November 1, 2026

Raises the mandatory employee contribution rate from 4.5% to 5% of compensation

Eliminates the existing 5-year vesting schedule for employer matching funds (previously 20% per year), providing immediate 100% vesting for all employer contributions beginning November 1, 2026

Allows reemployed participants to retain their previously vested employer contributions and receive full employer matching on new contributions from their re-employment date, though previously forfeited contributions cannot be recovered

Maintains the employer match floor at the new 7% rate for as long as the defined contribution plan operates