Oklahoma 2022 Regular Session

Oklahoma Senate Bill SB1601 Compare Versions

Version 1 (Old)

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4		-	An Act
5		-	ENROLLED SENATE
	29	+	HOUSE OF REPRESENTATIVES - FLOOR VERSION
	30	+
	31	+	STATE OF OKLAHOMA
	32	+
	33	+	2nd Session of the 58th Legislature (2022)
	34	+
	35	+	ENGROSSED SENATE
6	36		BILL NO. 1601 By: Rader of the Senate
7	37
8	38		and
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10	40		Bush of the House
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15	45		An Act relating to county employee pension funding;
16	46		amending 19 O.S. 2021, Sections 954 , 957-1, 960, and
17	47		961, which relate to maximum contributions for
18	48		certain entities and payment of certain employer
19	49		contributions from court funds ; authorizing a one-
20	50		time lump sum contribution in certain circumstances;
21	51		modifying amount county and court fund may pay into
22	52		county retirement system; modifying l imit of certain
23	53		total contribution; deleting obsolete language;
24	54		updating statutory reference; clarifying language;
25	55		providing an effective date; and declaring an
26	56		emergency.
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31		-	SUBJECT: County employee pension
32		-
33	61		BE IT ENACTED BY THE PEOPLE OF THE STATE OF OKLAHOMA:
34		-
35	62		SECTION 1. AMENDATORY 19 O.S. 2021, Section 954, is
36	63		amended to read as follows:
37		-
38	64		Section 954. It shall be the mandatory duty of the board of
39	65		county commissioners of any county esta blishing a retirement fund
40	66		and system to appropriate annually, for the sole use of the
41	67		retirement fund within its general fund and subject to the approval
42	68		of the county excise board, a sum w hich shall be equal to or exceed
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	70	+	SB1601 HFLR Page 2
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43	96		the contributions made to the ret irement fund by the employees.
44	97		Such appropriation shall not exceed the sum of the current annual
45	98		salaries of all employees to be covered in the following
46	99		percentages:
47		-
48		-	ENR. S. B. NO. 1601 Page 2
49		-
50	100		July 1, 2007 – June 30, 2008 13 1/2%
51		-
52	101		July 1, 2008 – June 30, 2009 14 1/2%
53		-
54	102		July 1, 2009 – June 30, 2010 15 1/2%
55		-
56	103		July 1, 2010 – June 30, 2019 16 1/2%
57		-
58	104		July 1, 2019 - June 30, 2020
59	105		and each year thereafter 18 1/2%
60		-
61	106		Beginning July 1, 2019, the total employer and employee
62	107		contributions shall not exceed eighteen and one -half percent (18.5%)
63	108		of the monthly compensation of each member. The governing body of
64	109		the participating employers list ed in this section may vary the
65	110		percentage contribution of the employer and employee, provided the
66	111		total percentage contributed by the employer and employee equals th e
67	112		total percentage contribution required by this section. Payment of
68	113		such shall be paid t o the fund upon verified claims by the treasurer
69	114		of the fund approved by the board of trustees and a ttested by its
70	115		clerk. For any contribution made on or after July 1, 2021, to June
71	116		30, 2022, of less than eighteen and one-half percent (18.5%), an
72	117		employer may retroactively make a one-time lump sum contribution of
73	118		an amount equal to the difference betwee n the actual total
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	120	+	SB1601 HFLR Page 3
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74	146		contribution that was made and the total contri bution amount equal
75	147		to eighteen and one-half percent (18.5%).
76		-
77	148		SECTION 2. AMENDATORY 19 O.S. 2021, Section 957 -1, is
78	149		amended to read as follows:
79		-
80	150		Section 957-1. The county commissioners of any county
81	151		establishing a drainage district or districts, and establishing a
82	152		county retirement system, in addition to the duties and authority
83	153		now provided by law, are hereby authorized to pay into the
84	154		retirement system of such coun ty for the use and benefit o f the
85	155		employees eligible for retirement benefits, such amounts as the said
86	156		board of county commissioners may authorize by resolu tion not
87	157		exceeding the current annual salaries of all employees to be covered
88	158		in the following perce ntages:
89		-
90	159		July 1, 2009 - June 30, 2010 15 1/2%
91		-
92		-	ENR. S. B. NO. 1601 Page 3
93		-
94	160		July 1, 2010 - June 30, 2011
95	161		and each year thereafter 16 1/2%
96		-
97	162		Beginning July 1, 2009, the total employer and em ployee
98	163		contributions shall not exceed sixteen and one -half percent (16.5%)
99	164		of the monthly compensati on of each member. Provided further, that
100	165		drainage district employe es becoming qualified by this act shall be
101	166		credited as to eligibility for the full time of their county
102	167		employment; and, provided further, in the event of retroactive
103	168		eligibility such empl oyees shall be required to p ay into the
104	169		retirement system fund an am ount equal to that which would have
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105	197		otherwise been paid by such employees in order to ga in credit for
106	198		such time of employment. whose salaries are paid either in whole or
107	199		in part out of the drainage district funds. The total employer and
108	200		employee contributions shall not exceed the percentages of the
109	201		monthly compensation of each member set forth in Section 954 of this
110	202		title.
111		-
112	203		SECTION 3. AMENDATORY 19 O.S. 2021, Sect ion 960, is
113	204		amended to read as follows:
114		-
115	205		Section 960. A. In addition to all other items which are now
116	206		or may hereafter be authorized to be paid from the cou rt fund, it
117	207		shall be the mandatory duty of the governing board of the court fund
118	208		to pay annually for the sole use of the retirement system a sum
119	209		equal to the contributions made to the retirement fund by the
120	210		employees, but not to exceed the following percentages of the
121	211		current annual salaries, established in Section 954 of this title,
122	212		of all employees whose salaries are paid eit her in whole or in part
123	213		out of the court funds of such county:.
124		-
125	214		July 1, 2009 - June 30, 2010 15 1/2%
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127	215		July 1, 2010 - June 30, 2011
128	216		and each year thereafter 16 1/2%
129		-
130	217		Beginning July 1, 2009, the total employer and empl oyee
131	218		contributions shall not exceed sixteen and one-half percent (16.5%)
132	219		of the monthly compensation of each member. The total employer and
133	220		employee contributions shall not exceed the percentages of the
134	221
135		-	ENR. S. B. NO. 1601 Page 4
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136	248		monthly compensation of each member set forth in Sec tion 954 of this
137	249		title.
138		-
139	250		B. It shall be the mandatory duty of the gove rning board of the
140	251		court fund to pay annually from the court fund to a county
141	252		retirement system which is not a participant in the Oklahoma Public
142	253		Employees Retirement System, the employ er's contribution for that
143	254		court reporter who pursuant to the provision s of Section 106.8 of
144	255		Title 20 of the Oklahoma Statutes , exercised his or her option to
145	256		continue as a member of the county retirement system following
146	257		January 13, 1969. The contributio ns to be so paid shall be limited
147	258		to the amount provided for in subsect ion A of this section. The
148	259		provisions of this subsection shall operate retroactively to take
149	260		effect on and after January 13, 1969.
150		-
151	261		SECTION 4. AMENDATORY 19 O.S. 2021, Section 961, is
152	262		amended to read as follows:
153		-
154	263		Section 961. In addition to all o ther items which are now or
155	264		may hereafter be authorized to be paid from the Law Library Fund, it
156	265		shall be the mandatory duty of the trustee s of the Law Library Fund
157	266		to pay annually for the sole use of the retirement system a sum
158	267		equal to the contributions made to the Retirement Fund retirement
159	268		fund by the employees, but not to exceed the following percentages
160	269		of the current annual salaries , established in Section 954 of this
161	270		title, of all employees whose salaries are paid either in whole or
162	271		in part out of the Law Library Fund of such county.:
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164	299		July 1, 2009 - June 30, 2010 15 1/2%
165		-
166	300		July 1, 2010 - June 30, 2011
167	301		and each year thereafter 16 1/2%
168		-
169	302		Beginning July 1, 20 09, the total employer and employee
170	303		contributions shall not exceed sixteen and one -half percent (16.5%)
171	304		of the monthly compensation of each member . The total employer and
172	305		employee contributions shall not exceed the percentages of the
173	306		monthly compensation of each member set forth in Section 954 of this
174	307		title.
175		-
176	308		SECTION 5. This act shall become effective July 1, 2022.
177		-
178		-
179		-	ENR. S. B. NO. 1601 Page 5
180	309		SECTION 6. It being immediately necessary for the preservation
181	310		of the public peace, health or safety, an emergency is hereby
182	311		declared to exist, by reason whereof this act shall take effect and
183	312		be in full force from and after its passage and approval.
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185		-
186		-	ENR. S. B. NO. 1601 Page 6
187		-	Passed the Senate the 22nd day of March, 2022.
188		-
189		-
190		-
191		-	Presiding Officer of the Senate
192		-
193		-
194		-	Passed the House of Representatives the 18th day of April, 2022.
195		-
196		-
197		-
198		-	Presiding Officer of the House
199		-	of Representatives
200		-
201		-	OFFICE OF THE GOVERNOR
202		-	Received by the Office of the Governor this _______ _____________
203		-	day of _________________ __, 20_______, at _______ o'clock _______ M.
204		-	By: _______________________________ __
205		-	Approved by the Governor of the State of Oklahoma this _____ ____
206		-	day of _________________ __, 20_______, at _____ __ o'clock _______ M.
207		-
208		-	_________________________________
209		-	Governor of the State of Oklahoma
210		-
211		-
212		-	OFFICE OF THE SECRETARY OF STATE
213		-	Received by the Office of the Secretary of State this _______ ___
214		-	day of __________________, 20 _______, at _______ o'clock _____ __ M.
215		-	By: _______________________________ __
	314	+	COMMITTEE REPORT BY: COMMITTEE ON BANKING, FINANCIAL SERVICES AND
	315	+	PENSIONS, dated 04/04/2022 - DO PASS.