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OK HB4231
Bill
Status
2/2/2026
Primary Sponsor
Neil Hays
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AI Summary
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Increases the retirement benefit computation factor for Oklahoma firefighters from 2.5% to 3% per year of credited service, with phased eligibility: members with 25+ years can receive the increase 1 year after the effective date, those with 20+ years after 2 years, and all members after 5 years
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Applies the same 3% multiplier increase to disability retirement benefits for firefighters who become disabled in the line of duty and have 20+ years of credited service
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Establishes a minimum municipal contribution of 14% of actual paid base salary for each firefighter employed by the municipality
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Amends the Oklahoma Pension Legislation Actuarial Analysis Act to classify these benefit computation changes as "nonfiscal," meaning they do not require actuarial analysis before passage
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Contains emergency clause provisions with contingent effective dates: if the emergency clause is approved, takes effect immediately upon signature; otherwise, October 1, 2026 for definitional changes and November 1, 2026 for benefit changes
Legislative Description
Retirement; Oklahoma Pension Legislation Actuarial Analysis Act; definition; Oklahoma Firefighters Pension and Retirement System; computation factor; accrued retirement benefit; disability retirement benefit; monthly retirement annuity; municipal contribution; effective dates; contingent effective dates; emergency.
Last Action
Referred to Banking, Financial Services and Pensions
2/4/2026