Oklahoma 2022 Regular Session

Oklahoma House Bill HB2293 Compare Versions

Version 1 (Old)

Version 2 (New)

Old	New		Differences
1		-	~~An Act~~
	1	+	RBH No. 8274
2	2
3		-	ENROLLED HOUSE
4		-	BILL NO. 2293 By: Roberts (Dustin) of the
	3	+	Req. No. 8274 Page 1 1
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	27	+
	28	+	STATE OF OKLAHOMA
	29	+
	30	+	1st Session of the 58th Legislature (2021)
	31	+
	32	+	CONFERENCE COMMITTEE
	33	+	SUBSTITUTE
	34	+	FOR ENGROSSED
	35	+	HOUSE BILL NO. 2293 By: Roberts (Dustin) of the
5	36		House
6	37
7	38		and
8	39
9	40		Paxton of the Senate
10	41
11	42
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13	44
14	45
	46	+	CONFERENCE COMMITTEE SUBSTITUTE
15	47
16	48		An Act relating to the Teachers' Retirement System of
17	49		Oklahoma; amending 70 O.S. 2011, Section 17 -108,
18	50		which relates to matching contribution amounts;
19	51		providing for differential rates; defining terms;
20	52		modifying requirements with respect to summer school
21	53		programs; imposing requirements related to contracts;
22	54		providing exceptions; and providing methodology for
23	55		certain contribution rate.
24	56
25	57
26	58
27	59
28		-
29		-	SUBJECT: Teachers' Retirement System of Oklahoma
30		-
31	60		BE IT ENACTED BY THE PEOPLE OF THE STATE OF OKLAHOMA:
32		-
33	61		SECTION 1. AMENDATORY 70 O.S. 2011, Section 17 -108, is
34	62		amended to read as follows:
35		-
36	63		Section 17-108. A. Each local school district, or state
37	64		college or university, or State Board of Education , or State Board
38	65		of Career and Technology Education, or other state agencies whose
39	66		employees are members of the Teachers' Retirement System
40		-	("participating employer s"), shall match, on a pro rata basis, in
	67	+	("participating employers"), shall match, on a pro rata basis, in RBH No. 8274
	68	+
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41	94		accordance with subsection B of this section the contributions of
42	95		members whose salaries are paid by federal funds or externally
43	96		sponsored agreements such as gran ts, contracts and cooperative
44	97		agreements. These funds shall be remitted at the same time as the
45	98		regular contributions of members are remitted to the Teachers'
46	99		Retirement System of Oklahoma and deposited in the Retirement
47		-	Benefit Fund. RBH No. 8274
48		-
49		-	ENR. H. B. NO. 2293 Page 2
50		-
	100	+	Benefit Fund.
51	101		B. On an annual bas is, the Board of Trustees shall set the two
52	102		contribution rate rates to be paid by contributing employers as
53	103		provided in subsection A of this section. The Both contribution
54	104		rate rates shall be determined using cost principles established by
55	105		federal regulations and shall be consistent with policies,
56	106		regulations and procedures that apply uniformly to both federally
57	107		assisted and other activities, and be accorded consistent treatment
58	108		through application of generally accepted accounting principles.
59	109		The Board shall approve the contribution rate rates for each fiscal
60	110		year ending June 30, no later than April 1 of the previous fiscal
61	111		year. The first rate shall be applied to service performed during
62	112		the regular school year of the participating employer. The second
63	113		rate shall be applied to service performed by members during a
64	114		summer school program of the participating employer. For the
65	115		purposes of this subsection, "summer school program" is defined as a
66	116		program offering academic enrichment for students from Pre -K through
67		-	12th grades during the summer term after the close of the school
	117	+	12th grades during the summer term after the close of the school RBH No. 8274
	118	+
	119	+	Req. No. 8274 Page 3 1
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68	144		year. Members shall only be considered as providing service to a
69	145		summer school program if such service is provided pursuant to a
70	146		separate summer school contract between the member and the
71	147		participating employer. The term "summer school program" does not
72	148		include services performed at a participating employer offering an
73	149		extended school year pursuant to Section 1 -109.1 of this title, or
74	150		services performed by staff pursuant to a twelve -month contract with
75	151		the employer. The method applied to setting the second contribution
76	152		rate may take into consideration whether, or to what extent, such
77	153		service is likely to add to members' service credit or final average
78	154		salary; provided, however, the se cond rate shall not exceed one -half
79	155		(1/2) of the first rate established in this subsection. The actuary
80	156		retained by the Board may recommend such rates using assumptions
81	157		that apply to the group of those members whose service is subject to
82	158		the second contribution rate.
83		-
84	159		C. All the assets of the retirement system shall be credited
85	160		according to the purpose for which they are held to one of eight
86	161		funds, namely: The Teachers' Savings Fund, the Retirement Benefit
87	162		Fund, the Interest Fund, the Permanent Retirement Fund, the Expense
88	163		Fund, the Suspense Fund, the Teachers' Deposit Fund, and the Retiree
89	164		Medical Benefit Fund.
90		-
91	165		1. The Teachers' Savings Fund shall be a fund in which shall be
92	166		accumulated the regular contributions from the compensation of
93		-	members, including interest earnings prior to July 1, 1968.
94		-	Contributions to and payments from the Teachers ' Savings Fund shall RBH No. 8274
	167	+	members, including interest earnings prior to July 1, 1968. RBH No. 8274
95	168
96		-	ENR. H. B. NO. 2293 Page 3
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	194	+	Contributions to and payments from the Teachers' Savings Fund shall
97	195		be made as specifically provided in each plan available within the
98	196		retirement system.
99		-
100	197		2. The deductions provided for in the plans within the
101	198		retirement system shall be made notwithstanding that the minimum
102	199		compensation provided for any member shall be reduced thereby.
103	200		Every member shall be deemed to consent and agree to the deductions
104	201		made and provided for herein and payment of salary or compensa tion,
105	202		less the deduction, shall be a full and complete discharge and
106	203		acquittance of all claims and demands whatsoever for the services
107	204		rendered by such person during the period covered by such payment,
108	205		except as to the benefits provided under this act. Th e employer
109	206		shall certify to the Board of Trustees on each and every payroll, or
110	207		in such other manner as the Board may prescribe, the amounts to be
111	208		deducted, and each of the amounts shall be deducted, and when
112	209		deducted shall be paid into the Teachers' Savin gs Fund, and shall be
113	210		credited to the individual account of the member from whose
114	211		compensation the deduction was made.
115		-
116	212		3. Following the termination of membership in the retirement
117	213		system for any member who has been absent from service for five (5)
118	214		years in any period of six (6) consecutive years, the Teachers'
119	215		Savings Fund Account of such member shall be closed and the amount
120	216		due the member as provided in Section 17 -105 of this title shall be
121		-	paid upon the filing of formal application. At the time such
	217	+	paid upon the filing of formal application. At the time such RBH No. 8274
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	219	+	Req. No. 8274 Page 5 1
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122	244		membership is terminated the amount due the member as provided in
123	245		Section 17-105 of this title shall be transferred to the Suspense
124	246		Fund.
125		-
126	247		4. Upon the retirement of a member, the balance of money he or
127	248		she had in the Teachers' Savings Fund shall be transferr ed to the
128	249		Retirement Benefit Fund.
129		-
130	250		5. Retirement Benefit Fund.
131		-
132	251		a. After August 2, 1969, there shall be transferred from
133	252		the Teachers' Savings Fund for those members drawing
134	253		retirement benefits from the Teachers' Retirement
135	254		System of Oklahoma an amount nec essary to provide the
136	255		monthly annuity payments and pension payments as
137	256		required in Section 17 -107 of this title. In addition
138	257		the fund shall consist of monies received from any
139	258		state dedicated revenue, monies received from state
140	259		appropriations, monies rece ived from federal matching
141		-	funds, and the residue of the interest on investments RBH No. 8274
142		-
143		-	ENR. H. B. NO. 2293 Page 4
	260	+	funds, and the residue of the interest on investments
144	261		after the requirements of Section 17 -107 of this title
145	262		have been fully met. The Retirement Benefit Fund
146	263		shall consist of an amount of money necessary for the
147	264		making of retirement payments to retirees.
148		-
149	265		b. Should a member have deposits in the Teachers' Deposit
150	266		Fund or the Tax-Sheltered Annuity Fund and wish to
151		-	receive monthly retirement benefits on such deposits,
	267	+	receive monthly retirement benefits on such deposits, RBH No. 8274
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152	294		the actuarial equivalent of a two -year period and each
153	295		succeeding fiscal year thereafter shall be transferred
154	296		to the Retirement Benefit Fund. The member may choose
155	297		any of the plans available in the Teachers' Retirement
156	298		Act as a method of receiving monthly retirement
157	299		benefits on the money he has on deposit in the
158	300		Teachers' Deposit Fund or the Tax -Sheltered Annuity
159	301		Fund. The monthly retirement benefits paid from the
160	302		Teachers' Deposit Fund or the Tax -Sheltered Annuity
161	303		Fund shall be in addition to the regular retirement
162	304		benefits and the money transferred from the Teachers'
163	305		Deposit Fund or Tax-Sheltered Annuity Fund shall not
164	306		be matched by the State of Oklahoma.
165		-
166	307		c. From the Retirement Benefit Fund shall be paid all
167	308		monthly retirement benefits.
168		-
169	309		d. At the death of a retired member who has retired under
170	310		the Maximum Plan of Retir ement, Option 1 or Option 4,
171	311		the balance of money the member has in the Teachers'
172	312		Savings Fund shall be transferred to the Retirement
173	313		Benefit Fund and the amount due the beneficiary or his
174	314		or her estate under Option 1 or Option 4 shall be paid
175	315		from the Retirement Benefit Fund.
	316	+	e. At the death of both a retired member and the retired
	317	+	member's spouse, who had retired under Option 2 or 3, RBH No. 8274
176	318
177		-	e. At the death of both a retired member and the retired
178		-	member's spouse, who had retired under Option 2 or 3,
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179	344		any balance in the Teachers' Savings Fund shall be
180	345		transferred from the Teachers' Savings Fund to the
181	346		Retirement Benefit Fu nd.
182		-
183	347		f. At the death of a retired member who had retired under
184	348		Option 5, the balance of any monies the member had in
185	349		the Teachers' Savings Fund shall be transferred to the
186	350		Retirement Benefit Fund for the purpose of making a
187	351		lump-sum settlement to the benefi ciary or his estate.
188		-	Providing that if the surviving spouse elects to RBH No. 8274
189		-
190		-	ENR. H. B. NO. 2293 Page 5
	352	+	Providing that if the surviving spouse elects to
191	353		receive the balance under the Maximum Plan of
192	354		Retirement or Option 1 the member's money, if any, on
193	355		a monthly basis, constituting actuarial equivalent of
194	356		two (2) years' payments, and ea ch year thereafter the
195	357		annual actuarial equivalent, shall be transferred from
196	358		the Teachers' Savings Fund for the purpose of paying
197	359		monthly retirement benefits to the spouse under this
198	360		option.
199		-
200	361		6. The Interest Fund is hereby created to facilitate the
201	362		crediting of interest to the various other funds to which interest
202	363		is to be credited. All income, interest and dividends derived from
203	364		the deposits and investments authorized by this act shall be paid
204	365		into the Interest Fund. On June 30, each year, interest shal l be
205		-	transferred to the other funds as herein provided.
	366	+	transferred to the other funds as herein provided. RBH No. 8274
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206	392
207	393		7. The Permanent Retirement Fund shall consist of the
208	394		accumulated gifts, awards, and bequests made to the retirement
209	395		system, and transfers from the Suspense Fund, the principal of which
210	396		is hereby held and dedicated as a perpetual endowment of the
211	397		retirement system and shall not be diverted or appropriated to any
212	398		other cause or purpose unless specifically provided for in such
213	399		gifts, awards or bequests.
214		-
215	400		8. The Expense Fund shall be the fund from which the expense of
216	401		administration and maintenance of the retirement system shall be
217	402		paid. The Board of Trustees shall cause to be prepared and adopt
218	403		annually an itemized budget showing the amount required to defray
219	404		the expenses for the ensuing fiscal year.
220		-
221	405		Transfers to and payments from this fund shall be made as
222	406		follows: first, from the Interest Fund; second, from any dedicated
223	407		revenue; and, third, from appropriation by the Oklahoma Legislature.
224		-
225	408		All monies for the operation of the Teachers' Retirement System
226	409		of Oklahoma shall be paid from the Expense Fund upon the approval by
227	410		the Board of Trustees and the checks signed by two people designated
228	411		to sign such checks by the Board of Trustees of the Teachers'
229	412		Retirement System of Oklahoma.
230		-
231	413		9. The Suspense Fund sh all be comprised of amounts transferred
232	414		to the fund as provided in this section and Section 17 -105 of this
233	415		title and obligations of the retirement system to any member or
234		-	person which cannot be legally discharged.
235		-	RBH No. 8274
	416	+	person which cannot be legally discharged. RBH No. 8274
236	417
237		-	ENR. H. B. NO. 2293 Page 6
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238	443		10. Teachers' Deposit Fund.
239		-
240	444		Any member may request, prior to a pay period, that his or her
241	445		employer make additional deposits for him or her, for tax -sheltered
242	446		annuity purposes. However, the amount deposited shall not exceed
243	447		the limits as defined in Section 402(g) and Section 415 of the
244	448		Internal Revenue Code of 1986, as amended, and applicable federal
245	449		regulations. All such deposits shall be credited to the member's
246	450		account in the Teachers' Deposit Fund for the purchase of a tax -
247	451		sheltered annuity. The amount thus accumulated, with earnings,
248	452		shall be used upon the member's retirement, separation from service,
249	453		death or disability to purchase an annuity in addition to his or her
250	454		regular service retirement allowance. The amount a member
251	455		accumulates in the Teachers' Deposit Fund, not including interes t,
252	456		may be used to pay distributions in the case of hardship as provided
253	457		in Section 403(b)(11) of the Internal Revenue Code of 1986, as
254	458		amended, and applicable federal regulations.
255		-
256	459		11. Collection of Contributions.
257		-
258	460		The collection of members' contributions shall be as
259	461		follows:
260		-
261	462		(1) Each employer shall cause to be deducted on each
262	463		and every payroll or claim of a member for each
263	464		and every payroll claim period subsequent to the
264	465		date of establishment of the retirement system
265		-	the contribution payable by such member as
	466	+	the contribution payable by such membe r as RBH No. 8274
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266	493		provided in this act. With each and every
267	494		payroll or claim the employer shall deliver to
268	495		the treasurer of the employer warrants issued to
269	496		the employees as shown to be due by the payroll
270	497		or claim, together with a warrant or warrants in
271	498		favor of the Teachers' Retirement System as shown
272	499		by the payroll or claim.
273		-
274	500		(2) The treasurer or disbursing officer upon delivery
275	501		of the warrants and a true copy of the payroll or
276	502		claims as provided above shall register the
277	503		warrants as provided for the registration of
278	504		other school warrants, and shall deliver to the
279	505		employer warrants issued in favor of the
280	506		employees, and shall deliver warrants issued in
281	507		favor of the Teachers' Retirement System and the
282		-	copy of the payroll or claims to the school RBH No. 8274
283		-
284		-	ENR. H. B. NO. 2293 Page 7
	508	+	copy of the payroll or claims to the school
285	509		district superintendent as de signated by the
286	510		Board of Trustees. For the purpose of collecting
287	511		contributions of teachers in the public schools,
288	512		the superintendent of a school district is hereby
289	513		designated to receive the Teachers' Retirement
290	514		warrants from the treasurer or proper disbur sing
291	515		officer of the several school districts for the
292		-	purpose of transmitting such warrants and payroll
	516	+	purpose of transmitting such warrants and payroll RBH No. 8274
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293	543		or claims to the Executive Director of the
294	544		Teachers' Retirement System of the State of
295	545		Oklahoma. Any college or university or other
296	546		educational institut ion or agency operated in
297	547		whole or in part by the state shall have the
298	548		amount retained or deducted from the funds
299	549		regularly appropriated by the state for the
300	550		current maintenance for such educational
301	551		departments and institutions.
302		-
303	552		(3) For the purpose of enab ling the collection of the
304	553		contributions of the members of the retirement
305	554		system to be made as simple as possible, the
306	555		Board of Trustees shall require the secretary or
307	556		other officer of each employer -board or agency,
308	557		within thirty (30) days after the beginn ing of
309	558		each school year, to make a list of all teachers
310	559		in its employ who are members of the retirement
311	560		system, certify to the correctness of this list,
312	561		and file the same with the Executive Director of
313	562		the Board of Trustees of the Teachers' Retirement
314	563		System. If additions to or deductions from this
315	564		list should be made during the year such
316		-	additions or deductions shall likewise be
	565	+	additions or deductions shall likewise be RBH No. 8274
	566	+
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	591	+
317	592		certified to the Board of Trustees of the
318	593		Teachers' Retirement System.
319		-
320	594		(4) The State Treasurer shall furnish annually to the
321	595		Board of Trustees a sworn statement of the amount
322	596		of the funds in his or her custody belonging to
323	597		the retirement system. The records of the Board
324	598		of Trustees shall be open to public inspection
325	599		and any member of the retirement system shall be
326	600		furnished with a statement of the amount of the
327	601		credit to his or her individual account upon
328	602		written request by such member, provided the
329		-	Board of Trustees shall not be required to answer RBH No. 8274
330		-
331		-	ENR. H. B. NO. 2293 Page 8
	603	+	Board of Trustees shall not be required to answer
332	604		more than one such request of a member in any one
333	605		(1) year.
334		-
335	606		(5) Failure of any super intendent, officer, or other
336	607		person to discharge the duties imposed upon him
337	608		or her by this act shall render him or her or his
338	609		or her bondsman liable for any loss occasioned
339	610		thereby to the Teachers' Retirement System or the
340	611		employees of the school district , or both.
341		-
342	612		(6) On a showing by the Teachers' Retirement System
343	613		that a warrant, voucher or check issued to it
344	614		has, for any reason, been lost or never received,
345		-	after ninety (90) days from the date of issue or
	615	+	after ninety (90) days from the date of issue or RBH No. 8274
	616	+
	617	+	Req. No. 8274 Page 13 1
	618	+	2
	619	+	3
	620	+	4
	621	+	5
	622	+	6
	623	+	7
	624	+	8
	625	+	9
	626	+	10
	627	+	11
	628	+	12
	629	+	13
	630	+	14
	631	+	15
	632	+	16
	633	+	17
	634	+	18
	635	+	19
	636	+	20
	637	+	21
	638	+	22
	639	+	23
	640	+	24
	641	+
346	642		from transmittal for payment, it shall be the
347	643		duty of the issuing authority forthwith, without
348	644		any indemnifying bond or other requirements, to
349	645		issue a duplicate thereof in lieu of that which
350	646		was lost, to the Teachers' Retirement System; and
351	647		the Teachers' Retirement System shall save
352	648		harmless any school district or agency of state
353	649		government making payment under the provisions
354	650		hereof to the State Teachers' Retirement System
355	651		if the original warrant, voucher or check is
356	652		later presented for payment and same is paid
357	653		after a duplicate warrant, voucher or check has
358	654		been issued and paid to the Teachers' Retirement
359	655		System, and any loss sustained therefrom shall be
360	656		charged to the Interest Fund.
361		-
362	657		12. Rollover Contributions and Direct Trustee -to-Trustee
363	658		Transfers from Other Plans.
364		-
365	659		Any member may purchase credit for s ervice, to the extent
366	660		specified in this title, with rollovers from an eligible retirement
367	661		plan as defined by the Internal Revenue Code of 1986, as amended
368	662		from time to time. A member may also purchase permissive service
369	663		credit, as defined by Code Section 415(n)(3)(A), with a direct
370	664		trustee-to-trustee transfer from a governmental Code Section 403(b)
371		-	plan or governmental Code Section 457(b) plan. All rollovers and
	665	+	plan or governmental Code Section 457(b) plan. All rollovers and RBH No. 8274
	666	+
	667	+	Req. No. 8274 Page 14 1
	668	+	2
	669	+	3
	670	+	4
	671	+	5
	672	+	6
	673	+	7
	674	+	8
	675	+	9
	676	+	10
	677	+	11
	678	+	12
	679	+	13
	680	+	14
	681	+	15
	682	+	16
	683	+	17
	684	+	18
	685	+	19
	686	+	20
	687	+	21
	688	+	22
	689	+	23
	690	+	24
	691	+
372	692		direct trustee-to-trustee transfers shall be allowed to the extent
373	693		permitted by federal law. Rollovers or direct transfers in excess
374	694		of the amount necessary to purchase such service credit shall not be
375	695		allowed.
376		-	RBH No. 8274
377		-
378		-	ENR. H. B. NO. 2293 Page 9
379	696		13. Retiree Medical Benefit Fund.
380		-
381	697		The Retiree Medical Benefit Fund shall be maintained as a
382	698		subaccount under the Retirement Benefit Fund. The Retiree Medical
383	699		Benefit Fund is composed of all assets contributed to this
384	700		subaccount to pay the retirement system's portion of the monthly
385	701		retiree health insurance benefits described in Section 1316.3 of
386	702		Title 74 of the Oklahoma Statutes. All alloc ated assets and the
387	703		earnings thereon in the Retiree Medical Benefit Fund shall be held
388	704		for the exclusive purpose of providing retiree medical benefits
389	705		pursuant to Section 1316.3 of Title 74 of the Oklahoma Statutes.
390	706		The Retiree Medical Benefit Fund shall be administered in accordance
391	707		with the requirements under Section 401(h) of the Internal Revenue
392	708		Code of 1986, as amended from time to time. An amount necessary to
393	709		pay the health insurance premiums for retired members as provided by
394	710		Section 1316.3 of Titl e 74 of the Oklahoma Statutes shall be
395	711		deposited each month into the Retiree Medical Benefit Fund.
396	712
397		-	RBH No. 8274
398		-
399		-	ENR. H. B. NO. 2293 Page 10
400		-	Passed the House of Representatives the 17th day of May, 2021.
401		-
402		-
403		-
404		-
405		-	Presiding Officer of the House
406		-	of Representatives
407		-
408		-
409		-	Passed the Senate the 24th day of May , 2021.
410		-
411		-
412		-
413		-
414		-	Presiding Officer of the Senate
415		-
416		-
417		-
418		-	OFFICE OF THE GOVERNOR
419		-	Received by the Office of the Governor this ____________________
420		-	day of ___________________, 20_______, at _______ o'clock _______ M.
421		-	By: _________________________________
422		-	Approved by the Governor of the State of Oklahoma this _________
423		-	day of ___________________, 20_______, at _______ o'clock _______ M.
424		-
425		-
426		-	_________________________________
427		-	Governor of the State of Oklahoma
428		-
429		-	OFFICE OF THE SECRETARY OF STATE
430		-	Received by the Office of the Secretary of State this __________
431		-	day of ___________________, 20_______, at _______ o'clock _______ M.
432		-	By: _________________________________
433		-
434		-	THOMAS E. CUMMINS CONSULTING ACTUARY, INC.
435		-	2512 E. 71
436		-	st
437		-	Street , Suite D ∙ Tulsa, Oklahoma 74136 (918) 492-9658 ∙ (918) 492- 9659
438		-
439		-
440		-
441		-
442		-
443		-	January 18, 2021
444		-
445		-
446		-
447		-	Representative Dustin Roberts
448		-	Room 456.2
449		-
450		-
451		-
452		-	Re: RBH No. 6260
453		-
454		-
455		-
456		-	RBH No. 6260 modifies the provisions relating to the computation of
457		-	the contribution for OTRS employers.
458		-
459		-	RBH No. 6260 is a nonfiscal bill as defined by OPLAAA.
460		-
461		-	I am a member of the American Academy of Actuaries and meet the
462		-	Qualification Standards of the American Academy of Actuaries to
463		-	render the actuarial opinion herein.
464		-
465		-
466		-	Thomas E. Cummins
467		-
468		-	Thomas E. Cummins, MAAA
469		-
470		-
471		-	THOMAS E. CUMMINS CONSULTING ACTUARY, INC.
472		-	2512 E. 71
473		-	st
474		-	Street , Suite D ∙ Tulsa, Oklahoma 74136 (918) 492-9658 ∙ (918) 492- 9659
475		-
476		-
477		-
478		-
479		-
480		-	May 12, 2021
481		-
482		-
483		-
484		-	Representative Dustin Roberts
485		-	Room 456.2
486		-
487		-
488		-
489		-	Re: Conference Committee Substitute for Engrossed House Bill No.
490		-	2293
491		-
492		-	Under Conference Committee Substitute for Engrossed House Bill No.
493		-	2293 OTRS there will be contribution matching rates participating
494		-	employers. One rate is normal service. The second rate is for
495		-	teaching service during summer sessions that are part of a separate
496		-	contract and is to be used for increasing service and final average
497		-	compensation for retirement benefit service. The System actuary may
498		-	be consulted in determining the second rate.
499		-
500		-
501		-	Conference Committee for Engrossed House Bill No. 2293 is a non
502		-	fiscal bill as defined by the Oklahoma Pension Legislation Actuarial
503		-	Analysis Act.
504		-
505		-	I am a member of the American Academy of Actuaries and meet the
506		-	Qualification Standards of the American Academy of Actuaries to
507		-	render the actuarial opinion herein.
508		-
509		-
510		-	Thomas E. Cummins
511		-
512		-	Thomas E. Cummins, MAAA
	713	+	58-1-8274 MAH 05/12/21
513	714
514	715