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Oklahoma House Bill HB1068

Oklahoma 2023 Regular Session

Oklahoma House Bill HB1068 Compare Versions

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2828 STATE OF OKLAHOMA
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3030 1st Session of the 59th Legislature (2023)
3131
3232 HOUSE BILL 1068 By: West (Josh)
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3838 AS INTRODUCED
3939
4040 An Act relating to retirement; amending 74 O.S. 2021,
4141 Sections 902, 915, 916.3, 919.1, and 920A, which
4242 relate to the Oklahoma Public Employees Retirement
4343 System; modifying definition; modifying eligibility
4444 for certain retirement benefits; modifying
4545 eligibility for certain death benefits; modifying
4646 which employees must pay employee contribution;
4747 updating reference; a nd providing an effective date.
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5454 BE IT ENACTED BY THE PEOPLE OF THE STATE OF OKLAHOMA:
5555 SECTION 1. AMENDATORY 74 O.S. 2021, Section 902, is
5656 amended to read as follows:
5757 Section 902. Definitions.
5858 As used in Section 901 et seq. of this title:
5959 (1) "System" means the Oklahoma Public Employees Retirement
6060 System as established by this act and as it may hereafter be
6161 amended;
6262 (2) "Accumulated contributions " means the sum of all
6363 contributions by a member to the System which shal l be credited to
6464 the member's account; RBH No. 5114
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9191 (3) "Act" means Sections 901 to 932, inclusive, of this title;
9292 (4) "Actuarial equivalent " means a deferred income benefit of
9393 equal value to the accumulated deposits o r benefits when computed
9494 upon the basis of the ac tuarial tables in use by the System;
9595 (5) "Actuarial tables" means the actuarial tables approved and
9696 in use by the Board at any given time;
9797 (6) "Actuary" means the actuary or firm of actuaries employed
9898 by the Board at any given time;
9999 (7) "Beneficiary" means any person named by a member to receive
100100 any benefits as provided for by Section 901 et seq. of this title.
101101 If there is no beneficiary living at time of member employee 's
102102 death, the member's estate shall be the beneficiary;
103103 (8) "Board" means the Oklahoma Public Employees Retirement
104104 System Board of Trustees;
105105 (9) "Compensation" means all salary and wages, as defined by
106106 the Board of Trustees, including amounts deferred under deferred
107107 compensation agreement s entered into between a member and a
108108 participating employer, but exclusive of payment for overtime,
109109 payable to a member of the System for personal services performed
110110 for a participating employer but shall not include compensation or
111111 reimbursement for trav eling, or moving expenses, or any compensation
112112 in excess of the maximum compensation level, provided: RBH No. 5114
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139139 (a) For compensation for service prior to January 1, 1988,
140140 the maximum compensation level shall be Twenty -five
141141 Thousand Dollars ($25,000.00) per annum.
142142 For compensation for service on or after January 1,
143143 1988, through June 30, 1994, the maximum compensation
144144 level shall be Forty Thousand Dollars ($40,000.00) per
145145 annum.
146146 For compensation for service on or after July 1, 1994,
147147 through June 30, 1995, the maximum compensation level
148148 shall be Fifty Thousand Dollar s ($50,000.00) per
149149 annum; for compensation for service on or after July
150150 1, 1995, through June 30, 1996, the maximum
151151 compensation level shall be Sixty Thousand Dollars
152152 ($60,000.00) per annum; for compensation for service
153153 on or after July 1, 1996, through Ju ne 30, 1997, the
154154 maximum compensation level shall be Seventy Thousand
155155 Dollars ($70,000.00) per annum; and for compensation
156156 for service on or after July 1, 1997, through June 30,
157157 1998, the maximum compensatio n level shall be Eighty
158158 Thousand Dollars ($80,000 .00) per annum. For
159159 compensation for services on or after July 1, 1998,
160160 there shall be no maximum compensation level for
161161 retirement purposes. RBH No. 5114
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188188 (b) Compensation for retirement purposes shall include any
189189 amount of elective salary reduction under Section 457
190190 of the Internal Revenue Code of 1986 and any amount of
191191 nonelective salary reduction under Section 414(h) of
192192 the Internal Revenue Code of 1986.
193193 (c) Notwithstanding any provision to the contrary, the
194194 compensation taken into account for any employee in
195195 determining the contribution or benefit accruals for
196196 any plan year is limited to the annual compensation
197197 limit under Section 401(a)(17) of the federal Internal
198198 Revenue Code.
199199 (d) Current appointed members of the Ok lahoma Tax
200200 Commission whose salary is constitutio nally limited
201201 and is less than the highest salary allowed by law for
202202 his or her position shall be allowed, within ninety
203203 (90) days from the effective date of this act, to make
204204 an election to use the highest salary allowed by law
205205 for the position to which t he member was appointed for
206206 the purposes of making contributions and determination
207207 of retirement benefits. Such election shall be
208208 irrevocable and be in writing. Reappointment to the
209209 same office shall not p ermit a new election. Members
210210 appointed to the Oklahoma Tax Commission after the
211211 effective date of this act shall make such election, RBH No. 5114
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238238 pursuant to this subparagraph, within ninety (90) days
239239 of taking office;
240240 (10) "Credited service" means the sum of partic ipating service,
241241 prior service and elected servic e;
242242 (11) "Dependent" means a parent, child, or spouse of a member
243243 who is dependent upon the member for at least one -half (1/2) of the
244244 member's support;
245245 (12) "Effective date" means the date upon which the Sy stem
246246 becomes effective by operation of law;
247247 (13) "Eligible employer" means the state and any county, county
248248 hospital, city or town, conservation districts, circuit engineering
249249 districts and any public or private trust in which a county, city or
250250 town participates and is the primary beneficiary, is to be an
251251 eligible employer for the purpose of this act only, whose employees
252252 are covered by Social Security and are not covered by or eligible
253253 for another retirement plan authorized under the laws of this state
254254 which is in operation on the initial entry date. E mergency medical
255255 service districts may join the System upon proper application to the
256256 Board. Provided affiliation by a county hospital shall be in the
257257 form of a resolution adopted by the board of control.
258258 (a) If a class or several classes of employees of any
259259 above-defined employers are covered by Social Security
260260 and are not covered by or eligible for and will not
261261 become eligible for another retirement plan authorized RBH No. 5114
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288288 under the laws of this state, which is in operation on
289289 the effective date, such employer s hall be deemed an
290290 eligible employer, but only with respect to that class
291291 or those classes of employees as defined in this
292292 section.
293293 (b) A class or several classes of employees who are
294294 covered by Social Securi ty and are not covered by or
295295 eligible for and wil l not become eligible for another
296296 retirement plan authorized under the laws of this
297297 state, which is in operation on the effective date,
298298 and when the qualifications for employment in such
299299 class or classes are set by state law; and when such
300300 class or classes of employees are employed by a county
301301 or municipal government pursuant to such
302302 qualifications; and when the services provided by such
303303 employees are of such nature that they qualify for
304304 matching by or contri butions from state or federal
305305 funds administered by an agency of state government
306306 which qualifies as a participating employer, then the
307307 agency of state government administering the state or
308308 federal funds shall be deemed an eligible employer,
309309 but only with respect to that class or those classes
310310 of employees as defined in this subsection; provided,
311311 that the required contributions to the retirement plan RBH No. 5114
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338338 may be withheld from the contributions of state or
339339 federal funds administered by the state agency and
340340 transmitted to the System on the same basis as the
341341 employee and employer contributions are transmitted
342342 for the direct employees of the state agency. The
343343 retirement or eligibility for retirement under the
344344 provisions of law providing pensions for service as a
345345 volunteer firefighter shall not render any person
346346 ineligible for participation in the benefits provided
347347 for in Section 901 et seq. of this title. An employee
348348 of any public or private trust in which a county, city
349349 or town participates and is the primary benef iciary
350350 shall be deemed to be an eligible employee for the
351351 purpose of this act only.
352352 (c) All employees of the George Nigh Rehabilitation
353353 Institute who elected to retain membership in the
354354 System, pursuant to Section 913.7 of this title, shall
355355 continue to be eligible employees for the purposes of
356356 this act. The George Nigh Rehabilitation Institute
357357 shall be considered a participating employer only for
358358 such employees.
359359 (d) All employees of CompSource Mutual Insurance Company
360360 who retain membership in the Oklahoma Public Employees
361361 Retirement System pursuant to Se ction 913.9 of this RBH No. 5114
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388388 title shall continue to be eligible employees for the
389389 purposes of the Oklahoma Public Employees Retirement
390390 System. CompSource Mutual Insurance Company shall be
391391 considered a participating employer only for such
392392 employees.
393393 (e) All employees of a successor organization, as defined
394394 by Section 5-60.12 of Title 2 of the Oklahoma
395395 Statutes, who retain membership in the Oklahoma Public
396396 Employees Retirement System pursuant to Section 5 -
397397 60.35 of Title 2 of the Oklahoma Statutes shall
398398 continue to be eligible employees for the purposes of
399399 the Oklahoma Public Employees Retirement System. A
400400 successor organization shall be considered a
401401 participating employer only for such employees.
402402 (f) A participating employer of the Teachers ' Retirement
403403 System of Oklahoma, who has one or more employees who
404404 have made an election pursuant to enabling legislation
405405 to retain membership in the System as a result of
406406 change in administration, shall be considered a
407407 participating employer of the Oklahoma Public
408408 Employees Retirement System only for such employees;
409409 (14) "Employee" means any officer or employee of a
410410 participating employer, whose employment is not seasonal or
411411 temporary and whose employment requires at least one thous and RBH No. 5114
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438438 (1,000) hours of work per year and whose sala ry or wage is equal to
439439 the hourly rate of the monthly minimum wage for state employees.
440440 For those eligible employers outlined in Section 910 of this title,
441441 the rate shall be equal to the hourly rate of the monthly minimum
442442 wage for that employer. Each emp loyer, whose minimum wage is less
443443 than the state's minimum wage, shall inform the System of the
444444 minimum wage for that employer. This notification shall be by
445445 resolution of the governing body.
446446 (a) Any employee of the county extension agents who is not
447447 currently participating in the Teachers' Retirement
448448 System of Oklahoma shall be a member of this System.
449449 (b) Eligibility shall not include any employee who is a
450450 contributing member of the United States Civil Ser vice
451451 Retirement System.
452452 (c) It shall be mandatory for an officer, appointee or
453453 employee of the office of district attorney to become
454454 a member of this System if he or she is not currently
455455 participating in a county retirement system. Provided
456456 further, that if an officer, appointee or employee of
457457 the office of district attorney is currently
458458 participating in such county retirement system, he or
459459 she is ineligible for this System as long as he or she
460460 is eligible for such county retirement system. Any
461461 eligible officer, appointee or employee of the office RBH No. 5114
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488488 of district attorney shall be given credit for prior
489489 service as defined in this section. The provisions
490490 outlined in Section 917 of this title shall apply to
491491 those employees who have previously withdrawn their
492492 contributions.
493493 (d) Eligibility shall also not inclu de any officer or
494494 employee of the Oklahoma Employment Security
495495 Commission, except for those officers and employees of
496496 the Commission electing to transfer to this System
497497 pursuant to the provisions of Section 910.1 of this
498498 title or any other class of officer s or employees
499499 specifically exempted by the laws of this state,
500500 unless there be a consolidation as provided by Section
501501 912 of this title. Employees of the Oklahoma
502502 Employment Security Commission who are ine ligible for
503503 enrollment in the Employment Security Commission
504504 Retirement Plan, that was in effect on January 1,
505505 1964, shall become members of this System.
506506 (e) Any employee employed by the Legislative Service
507507 Bureau, State Senate or House of Representatives for
508508 the full duration of a regular legislative se ssion
509509 shall be eligible for membership in the System
510510 regardless of classification as a temporary employee
511511 and may participate in the System during the regular RBH No. 5114
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538538 legislative session at the option of the employe e.
539539 For purposes of this subparagraph, the determ ination
540540 of whether an employee is employed for the full
541541 duration of a regular legislative session shall be
542542 made by the Legislative Service Bureau if such
543543 employee is employed by the Legislative Service
544544 Bureau, the State Senate if such employee is employed
545545 by the State Senate, or by the House of
546546 Representatives if such employee is employed by the
547547 House of Representatives. Each regular legislative
548548 session during which the legislative employee or an
549549 employee of the Legislative Service Bureau
550550 participates full time shall be counted as six (6)
551551 months of full-time participating service.
552552 (i) Except as otherwise provided by this
553553 subparagraph, once a temporary session employee
554554 makes a choice to participate or not, the choice
555555 shall be binding for all future legislati ve
556556 sessions during which the employee is employed.
557557 (ii) Notwithstanding the provisions of division (i) of
558558 this subparagraph, any employee, who is eligible
559559 for membership in the System because of the
560560 provisions of this subparagraph and who was
561561 employed by the State Senate or House of RBH No. 5114
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588588 Representatives after January 1, 1989, may file
589589 an election, in a manner specified by the Board,
590590 to participate as a member of the System prior to
591591 September 1, 1989.
592592 (iii) Notwithstanding the provisions of division (i) of
593593 this subparagraph, a temporary legislative
594594 session employee who elected to become a member
595595 of the System may withdraw from the System
596596 effective the day said employee elected to
597597 participate in the System upon writt en request to
598598 the Board. Any such request must b e received by
599599 the Board prior to October 1, 1990. All employee
600600 contributions made by the temporary legislative
601601 session employee shall be returned to the
602602 employee without interest within four (4) months
603603 of receipt of the written request.
604604 (iv) A member of the System who did not initially
605605 elect to participate as a member of the System
606606 pursuant to this subparagraph shall be able to
607607 acquire service performed as a temporary
608608 legislative session employee for periods of
609609 service performed prior to the date upon whic h
610610 the person became a member of the System if: RBH No. 5114
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637637 a. the member files an election with the System
638638 not later than December 31, 2000, to
639639 purchase the prior service; and
640640 b. the member makes payment to the System o f
641641 the actuarial cost of the service credit
642642 pursuant to subsection A of Section 913.5 of
643643 this title. The provisions of Section 913.5
644644 of this title shall be applicable to the
645645 purchase of the service credit, including
646646 the provisions for determining service
647647 credit in the event of incomplete payment
648648 due to cessation of payments, death,
649649 termination of employment or retirement, but
650650 the payment may extend for a period not to
651651 exceed ninety-six (96) months;
652652 (15) "Entry date" means the date on which an eligible empl oyer
653653 joins the System. The first entry date purs uant to Section 901 et
654654 seq. of this title shall be January 1, 1964;
655655 (16) "Executive Director" means the managing officer of the
656656 System employed by the Board under Section 901 et seq. of this
657657 title;
658658 (17) "Federal Internal Revenue Code " means the federal Internal
659659 Revenue Code of 1954 or 1986, as amended and as applicable to a
660660 governmental plan as in effect on July 1, 1999; RBH No. 5114
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687687 (18) "Final average compensation " means the average annual
688688 compensation, including amo unts deferred under deferred compensation
689689 agreements entered into between a member and a participating
690690 employer, up to, but not exceeding the maximum compensation levels
691691 as provided in paragraph (9) of this section received during the
692692 highest three (3) of the last ten (10) years of participating
693693 service immediately preceding retirement or termination of
694694 employment and with respect to members whose first participating
695695 service occurs on or after July 1, 2013, the compensation received
696696 during the highest five (5) of the last ten (10) years of
697697 participating service immediately preceding retirement or
698698 termination of employment. Provided, no member shall retire with a
699699 final average compensation unless the member has made the required
700700 contributions on such compens ation, as defined by the Board of
701701 Trustees;
702702 (19) "Fiscal year" means the period commencing July 1 of any
703703 year and ending June 30 of the next year. The fiscal year is the
704704 plan year for purposes of the federal Internal Revenue Code;
705705 however, the calendar y ear is the limitation year for purposes of
706706 Section 415 of the federal Internal Revenue Code;
707707 (20) "Fund" means the Oklahoma Public Employees Retirement Fund
708708 as created by Section 901 et seq. of this title;
709709 (21) "Leave of absence" means a period of absenc e from
710710 employment without pay, authorized and app roved by the employer and RBH No. 5114
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737737 acknowledged to the Board, and which after the effective date does
738738 not exceed two (2) years;
739739 (22) "Member" means an eligible employee or elected official
740740 who is in the System and i s making the required employee or elected
741741 official contributions, or any former employee or elected official
742742 who shall have made the required contributions to the System and
743743 shall have not received a refund or withdrawal;
744744 (23) "Military service" means service in the Armed Forces of
745745 the United States by an honorably discharged person during the
746746 following time periods, as reflected on such person 's Defense
747747 Department Form 214, not to exceed five (5) years for combined
748748 participating and/or prior service, as f ollows:
749749 (a) during the following periods, includi ng the beginning
750750 and ending dates, and only for the periods served,
751751 from:
752752 (i) April 6, 1917, to November 11, 1918, commonly
753753 referred to as World War I,
754754 (ii) September 16, 1940, to December 7, 1941, as a
755755 member of the 45th Division,
756756 (iii) December 7, 1941, to December 31, 1946, commonly
757757 referred to as World War II,
758758 (iv) June 27, 1950, to January 31, 1955, commonly
759759 referred to as the Korean Conflict or the Korean
760760 War, RBH No. 5114
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787787 (v) February 28, 1961, to May 7, 1975, comm only
788788 referred to as the Vietnam era, except that:
789789 a. for the period from February 28, 1961, to
790790 August 4, 1964, military service shall only
791791 include service in the Republic of Vietnam
792792 during that period, and
793793 b. for purposes of determining eligibility for
794794 education and training benefits, such period
795795 shall end on December 31, 1976, or
796796 (vi) August 1, 1990, to December 31, 1991, commonly
797797 referred to as the Gulf War, the Persian Gulf
798798 War, or Operation Desert Storm, but excluding any
799799 person who served on active dut y for training
800800 only, unless discharged from such active duty for
801801 a service-connected disability;
802802 (b) during a period of war or combat military operation
803803 other than a conflict, war or era listed in
804804 subparagraph (a) of this paragraph, beginning on the
805805 date of Congressional authorization, Congressional
806806 resolution, or Executive Order of the President of the
807807 United States, for the use of the Armed Forces of the
808808 United States in a war or combat military operation,
809809 if such war or combat military operation lasted f or a
810810 period of ninety (90) days or more, for a pe rson who RBH No. 5114
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837837 served, and only for the period served, in the area of
838838 responsibility of the war or combat military
839839 operation, but excluding a person who served on active
840840 duty for training only, unless discharged f rom such
841841 active duty for a service -connected disability, and
842842 provided that the burden of proof of military service
843843 during this period shall be with the member, who must
844844 present appropriate documentation establishing such
845845 service.
846846 An eligible member under t his paragraph shall include only those
847847 persons who shall have served during the times or in the areas
848848 prescribed in this paragraph, and only if such person provides
849849 appropriate documentation in such time and manner as required by the
850850 System to establish su ch military service prescribed in this
851851 paragraph, or for service pursuant to subdivision a of division (v)
852852 of subparagraph (a) of this paragraph those persons who were awarded
853853 service medals, as authorized by the United States Department of
854854 Defense as reflected in the veteran 's Defense Department Form 21 4,
855855 related to the Vietnam Conflict for service prior to August 5, 1964;
856856 (24) "Normal retirement date " means the date on which a member
857857 may retire with full retirement benefits as provided in Section 901
858858 et seq. of this title, such date being whichever occ urs first:
859859 (a) the first day of the month coinciding with or
860860 following a member's: RBH No. 5114
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887887 (1) sixty-second birthday with respect to members
888888 whose first participating service occurs prior to
889889 November 1, 2011, or
890890 (2) sixty-fifth birthday with respect to members
891891 whose first participating service occurs on or
892892 after November 1, 2011, or with respect to
893893 members whose first participating service occurs
894894 on or after November 1, 2011, reaches a minimum
895895 age of sixty (60) years and who also reaches a
896896 normal retirement date pu rsuant to subparagraph c
897897 of this paragraph,
898898 (b) for any person who initially became a member prior to
899899 July 1, 1992, and who does not reach a normal
900900 retirement date pursuant to division (1) of
901901 subparagraph (a) of this paragraph, the first day of
902902 the month coinciding with or following the date at
903903 which the sum of a member 's age and number of years of
904904 credited service total eighty (80); such a normal
905905 retirement date will also apply to any person who
906906 became a member of the sending system as defined in
907907 Section 901 et seq. of this title, prior to July 1,
908908 1992, regardless of whether there were breaks in
909909 service after July 1, 1992, RBH No. 5114
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936936 (c) for any person who became a member after June 30,
937937 1992, but prior to November 1, 20 11, and who does not
938938 reach a normal retirement da te pursuant to division
939939 (1) of subparagraph (a) of this paragraph, the first
940940 day of the month coinciding with or following the date
941941 at which the sum of a member 's age and number of years
942942 of credited service total ninety (90),
943943 (d) in addition to subparagrap hs (a), (b) and (c) of this
944944 paragraph, the first day of the month coinciding with
945945 or following a member 's completion of at least twenty
946946 (20) years of full-time-equivalent employment as:
947947 (i) a correctional or probation and parole officer
948948 with the Department of Corrections and at the
949949 time of retirement, the member was a correctional
950950 or probation and parole officer with the
951951 Department of Corrections, or
952952 (ii) a correctional officer, probation and parole
953953 officer or fugitive apprehension agent with the
954954 Department of Corrections who is in such position
955955 on June 30, 2004, or who is hired after June 30,
956956 2004, and who receives a promotion or change in
957957 job classification after June 30, 2004, to
958958 another position in the Dep artment of
959959 Corrections, so long as such officer o r agent has RBH No. 5114
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986986 at least five (5) years of service as a
987987 correctional officer, probation and parole
988988 officer or fugitive apprehension agent with the
989989 Department, has twenty (20) years of full -time-
990990 equivalent employment with the Department and was
991991 employed by the Department at the time of
992992 retirement, or
993993 (iii) a firefighter with the Oklahoma Military
994994 Department either employed for the first time on
995995 or after July 1, 2002, or who was employed prior
996996 to July 1, 2002, in s uch position and who makes
997997 the election authorize d by division (2) of
998998 subparagraph b of paragraph (9) of subsection A
999999 of Section 915 of this title and at the time of
10001000 retirement, the member was a firefighter with the
10011001 Oklahoma Military Department, and such m ember has
10021002 at least twenty (20) years of credited service
10031003 upon which the two and one-half percent (2 1/2%)
10041004 multiplier will be used in calculating the
10051005 retirement benefit, or
10061006 (iv) a public safety officer employed by the Grand
10071007 River Dam Authority for the first time on or July
10081008 1, 2016, or RBH No. 5114
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10351035 (v) a deputy sheriff or jailer employed by any county
10361036 that is a participating employer in the System
10371037 for the first time as a deputy sheriff or jailer
10381038 on or after November 1, 2020, or
10391039 (vi) beginning November 1, 2024, a deputy sheriff or
10401040 jailer employed by any county that is a
10411041 participating employer in the System for the
10421042 first time as a deputy sheriff or jailer before
10431043 November 1, 2020, including those who make the
10441044 election authorized by division (2) of
10451045 subparagraph b of paragraph 10 of subsection A of
10461046 Section 915 of this title, and at the time of
10471047 retirement, if the member was a deputy sheriff or
10481048 jailer employed by the participating county, and
10491049 such member has at least twenty (20) years of
10501050 credited service upon which the two and one -half
10511051 percent (2 1/2%) multiplier will be used in
10521052 calculating the retirement benefit,
10531053 (e) for those fugitive apprehension agents who retire on
10541054 or after July 1, 2002, the first day of the month
10551055 coinciding with or following a member 's completion of
10561056 at least twenty (20) years of full -time-equivalent
10571057 employment as a fugitive apprehension agent with the
10581058 Department of Corrections and at the t ime of RBH No. 5114
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10851085 retirement, the member was a fugitive apprehension
10861086 agent with the Department of Corrections, or
10871087 (f) for any member who was continuously employed by an
10881088 entity or institution within The Oklahoma State System
10891089 of Higher Education and whose initial emplo yment with
10901090 such entity or institution was prior to July 1, 1992,
10911091 and who without a break in service of more than thirty
10921092 (30) days became employed by an employer participati ng
10931093 in the Oklahoma Public Employees Retirement System,
10941094 the first day of the month co inciding with or
10951095 following the date at which the sum of the member 's
10961096 age and number of years of credited service total
10971097 eighty (80);
10981098 (25) "Participating employer " means an eligible employer who
10991099 has agreed to make contributions to the System on behalf of it s
11001100 employees;
11011101 (26) "Participating service " means the period of employment
11021102 after the entry date for which credit is granted a member;
11031103 (27) "Prior service" means the period of employment of a member
11041104 by an eligible employer prior to the member 's entry date for which
11051105 credit is granted a member under Section 901 et seq. of this title;
11061106 (28) "Retirant" or "retiree" means a member who has retired
11071107 under the System; RBH No. 5114
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11341134 (29) "Retirement benefit" means a monthly income with benefits
11351135 accruing from the first day of the m onth coinciding with or
11361136 following retirement and ending on the last day of the month in
11371137 which death occurs or the actuarial equivalent thereof paid in such
11381138 manner as specified by the member pursuant to Section 901 et seq. of
11391139 this title or as otherwise allo wed to be paid at the discretion of
11401140 the Board;
11411141 (30) "Retirement coordinator " means the individual designated
11421142 by each participating employer through whom System transaction s and
11431143 communication shall be directed;
11441144 (31) "Social Security" means the old-age survivors and
11451145 disability section of the Federal Social Security Act;
11461146 (32) "Total disability" means a physical or mental disability
11471147 accepted for disability benefits by the Fed eral Social Security
11481148 System;
11491149 (33) "Service-connected disability benefits " means military
11501150 service benefits which are for a service -connected disability rated
11511151 at twenty percent (20%) or more by the Veterans Administration or
11521152 the Armed Forces of the United S tates;
11531153 (34) "Elected official" means a person elected to a state
11541154 office in the legislative or executive branch of state government or
11551155 a person elected to a county office for a definite number of years
11561156 and shall include an individual who is appointed to fi ll the
11571157 unexpired term of an elected state official; RBH No. 5114
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11841184 (35) "Elected service" means the period of service as an
11851185 elected official;
11861186 (36) "Limitation year" means the year used in applying the
11871187 limitations of Section 415 of the Internal Revenue Code of 1986,
11881188 which year shall be the calendar year; and
11891189 (37) "Public safety officers of the Grand River Dam Authority"
11901190 means those persons hired by the Grand River Dam Authority on or
11911191 after the effective date of this act who are certified by the
11921192 Council on Law Enforceme nt Education and Training or an equivalent
11931193 certifying entity for law enforcement per sonnel training and who
11941194 perform law enforcement functions as part of their regularly
11951195 assigned duties and responsibilities on a full -time basis. With
11961196 respect to any public safety officer hired by the Grand River Dam
11971197 Authority on or after the effective date of this act, any earned
11981198 benefits or credits toward retirement benefits from previous
11991199 participation within the Oklahoma Public Employees Retirement System
12001200 or the Oklahoma Law Enforcement Retirement System shall remain
12011201 within that system.
12021202 SECTION 2. AMENDATORY 74 O.S. 2021, Section 915, is
12031203 amended to read as follows:
12041204 Section 915. Amount of retirement benefit.
12051205 A. (1) Except as otherwise provided in this subsection and as
12061206 provided for elected officials in Section 913.4 of this title, any
12071207 member who shall retire on or after the member 's normal retirement RBH No. 5114
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12341234 date shall be entitled to receive an annual retirement benefit equal
12351235 to two percent (2%) of the member's final average compensation as
12361236 determined pursuant to paragraph (18) of Section 902 of this title,
12371237 multiplied by the number of years of credited service that has been
12381238 credited to the member in accordance with the provisions of Section
12391239 913 of this title other than years credited pursuant to paragraph
12401240 (2) of this subsection.
12411241 (2) Effective January 1, 2004, except as otherwise provided for
12421242 elected officials in Section 913.4 of this title and except for
12431243 those members making contributions pursu ant to paragraphs (c), (d),
12441244 (e) and (f) of subsection (1) of Section 919.1 of this title, any
12451245 member who shall retire shall be entitled to receive an annual
12461246 retirement benefit equal to tw o and one-half percent (2 1/2%) of the
12471247 member's final average compens ation as determined pursuant to
12481248 paragraph (18) of Section 902 of this title, multiplied by the
12491249 number of full years of participating service after January 1, 2004,
12501250 that have been credited to the member in accordance with the
12511251 provisions of Section 913 of th is title and only for those full
12521252 years of participating service for which contributions have been
12531253 made pursuant to paragraph (g) of subsection (1) of Section 919.1 of
12541254 this title. The two and one-half percent (2 1/2%) multiplier shall
12551255 not apply to purchase d service, purchased or granted military
12561256 service or transferred service. In order to receive the two and
12571257 one-half percent (2 1/2%) multiplier in computing retirement RBH No. 5114
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12841284 benefits, an active member shall make an irrevocable written
12851285 election to pay the contribu tions pursuant to paragraph (g) of
12861286 subsection (1) of Section 919.1 of this title. The two and one -half
12871287 percent (2 1/2%) multiplier pursuant to this paragraph shall not
12881288 apply to additional years of service credit attributed to sick leave
12891289 pursuant to paragraph 7 of subsection B of Section 913 of this title
12901290 and fractional years pursuant to subsection C of Section 913 of this
12911291 title and shall be attributable only to the participating service
12921292 credited after the election of the member.
12931293 (3) The minimum final aver age compensation for any person who
12941294 becomes a member of the System on or after July 1, 1995:
12951295 a. and who had twenty (20) or more years of credited
12961296 service within the System as of the membe r's
12971297 retirement date shall be no less than Thirteen
12981298 Thousand Eight Hundred Dollars ($13,800.00) per annum,
12991299 b. and who had at least fifteen (15) but not more than
13001300 nineteen (19) years of credited service within the
13011301 System as of the member 's retirement date sh all be no
13021302 less than Six Thousand Nine Hundred Dollars
13031303 ($6,900.00) per annum,
13041304 c. and who had less than fifteen (15) years of credited
13051305 service within the System as of the member 's
13061306 retirement date shall not be eligible for any minimum
13071307 amount of final average compensation and the member 's RBH No. 5114
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13341334 final average compensation shall be the final average
13351335 compensation as defined by paragraph (18) of Section
13361336 902 of this title.
13371337 (4) Provided, further, any member who has elected a vested
13381338 benefit pursuant to Section 917 of this title shall be entitled to
13391339 receive benefits as outlined in this secti on except the percent
13401340 factor and the member's maximum compensation level in effect the
13411341 date the member's employment was terminated with a participating
13421342 employer shall be applicable.
13431343 (5) Any member who is a correctional officer or a probation and
13441344 parole officer employed by the Department of Corrections at the time
13451345 of retirement and who retires on or before June 30, 2000, shall be
13461346 entitled to receive an annual retirement benefit equal to tw o and
13471347 one-half percent (2 1/2%) of the final average compensation of the
13481348 member not to exceed Twenty-five Thousand Dollars ($25,000.00) and
13491349 two percent (2%) of the final average salary in excess of Twenty -
13501350 five Thousand Dollars ($25,000.00) but not exceedin g the maximum
13511351 compensation level as provided in paragraph (9) of Sect ion 902 of
13521352 this title, multiplied by the number of years of service as a
13531353 correctional officer or a probation and parole officer; provided,
13541354 any years accrued prior to July 1, 1990, as a co rrectional officer
13551355 or a probation and parole officer by a member who is employed as a
13561356 correctional officer or a probation and parole officer on July 1,
13571357 1990, shall be calculated for retirement purposes at two and one - RBH No. 5114
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13841384 quarter percent (2 1/4%) of the final a verage compensation of the
13851385 member not to exceed Twenty -five Thousand Dollars ($25,000.00) and
13861386 two percent (2%) of the final average salary in excess of Twenty -
13871387 five Thousand Dollars ($25,000.00) but not exceeding the maximum
13881388 compensation level as provided i n paragraph (9) of Section 902 of
13891389 this title, multiplied by the numbe r of years of such service and
13901390 any years in excess of twenty (20) years as such an officer or years
13911391 credited to the member in accordance with the provisions of Section
13921392 913 of this title shall be calculated for retirement purposes at two
13931393 percent (2%) of the final average compensation of the member
13941394 multiplied by the number of years of such service. Any person who
13951395 contributes to the System as a correctional officer or a probation
13961396 and parole officer as provided in paragraph (b) or (c) of subsection
13971397 (1) of Section 919.1 of this title, on or before June 30, 2000, but
13981398 who does not make such contributions after June 30, 2000, and who
13991399 does not qualify for normal retirement under subparagraph (c) of
14001400 paragraph (24) of Section 902 of this title shall have retirement
14011401 benefits for each year of full-time-equivalent participating service
14021402 as a correctional or a probation and parole officer after July 1,
14031403 1990, computed on two and one -half percent (2 1/2%) of the final
14041404 average compensation based upon those years as a correctio nal
14051405 officer or a probation and parole officer. Provided, further, any
14061406 fugitive apprehension agent shall be entitled to receive benefits as
14071407 outlined in this act for service as a fugitive apprehension agent RBH No. 5114
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14341434 prior to July 1, 2002, only upon payment to the Sy stem of the
14351435 employee contributions which would have been paid if such fugitive
14361436 apprehension agent had been covered by this section prior to the
14371437 effective date of this act, plus interest o f not to exceed ten
14381438 percent (10%) as determined by the Board. The De partment of
14391439 Corrections may make the employee contribution and interest payment
14401440 on behalf of such member.
14411441 (6) Any member who is a correctional officer, a probation and
14421442 parole officer or a fugitive apprehension agent employed by the
14431443 Department of Correctio ns at the time of retirement and who retires
14441444 on or after July 1, 2002, shall be entitled to receive an annual
14451445 retirement benefit equal to two and one -half percent (2 1/2%) of the
14461446 final average compensation of the member, but not exceeding the
14471447 maximum compensation level as provided in paragraph (18) of Section
14481448 902 of this title, multiplied by the number of years of service as a
14491449 correctional officer, a probation and parole officer or a fugit ive
14501450 apprehension agent, and any years in excess of twenty (20) years as
14511451 such an officer or agent, or years credited to the member in
14521452 accordance with the provisions of Section 913 of this title, shall
14531453 be calculated for retirement purposes at two percent (2% ) of the
14541454 final average compensation of the member multiplied by the n umber of
14551455 years of such service. For purposes of this paragraph, "final
14561456 average compensation " shall be determined by computing the average
14571457 annual salary, in the manner prescribed by parag raph (18) of Section RBH No. 5114
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14841484 902 of this title, for the highest three (3) yea rs of the last ten
14851485 (10) years of participating service immediately preceding retirement
14861486 or termination of employment for all years of service performed by
14871487 such member, both for years of s ervice performed as a correctional
14881488 officer, probation and parole offi cer or fugitive apprehension
14891489 agent, not in excess of twenty (20) years, and for years of service
14901490 performed in excess of twenty (20) years, whether as a correctional
14911491 officer, probation and parole officer, fugitive apprehension agent
14921492 or other position unless the computation of benefits would result in
14931493 a lower retirement benefit amount than if final average compensation
14941494 were to be computed as otherwise provided by this paragraph. "Final
14951495 average compensation" shall be determined by computing the average
14961496 annual salary for the highest five (5) of the last ten (10) years of
14971497 participating service immediately preceding retirement or
14981498 termination of employment, with respect to members whose first
14991499 participating service occurs on or after July 1, 2013.
15001500 (7) Any member who is a correctional officer, a probation and
15011501 parole officer or a fugitive apprehension agent who has at least
15021502 five (5) years of service as a correctional officer, a probation and
15031503 parole officer or a fugitive apprehension agent who is in such
15041504 position on June 30, 2004, or who is hired after June 30, 2004, in
15051505 such position, and who receives a promotion or change in job
15061506 classification after June 30, 2004, to another position in the
15071507 Department of Corrections, and who is employed by the Department of RBH No. 5114
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15341534 Corrections at the time of retirement and who retires on or after
15351535 July 1, 2004, shall be entitled to receive an annual retirement
15361536 benefit equal to two and one -half percent (2 1/2%) of the final
15371537 average compensation of the member, but not exceeding the maximum
15381538 compensation level as provided in paragraph (18) of Section 902 of
15391539 this title, multiplied by the number of years of service with the
15401540 Department of Corrections and any years in excess of twenty (20)
15411541 years with the Department or years credited to the member in
15421542 accordance with the provisions of Section 913 of this title, shall
15431543 be calculated for retirement purposes at two percent (2%) of the
15441544 final average compensation of the member multiplied by the number of
15451545 years of such service. For purposes of this paragraph, "final
15461546 average compensation" shall be determined by computing the average
15471547 annual salary, in the manner prescribed by paragraph (18) of Section
15481548 902 of this title, for the highest three (3) y ears of the last ten
15491549 (10) years of participating service immediately preceding retirement
15501550 or termination of employment for all years of service performed by
15511551 such member with the Department. "Final average compensation " shall
15521552 be determined by computing the average annual salary for the highest
15531553 five (5) of the last ten (10) years of participating service
15541554 immediately preceding retirement or termination of employment, with
15551555 respect to members whose first participating service occurs on or
15561556 after July 1, 2013. RBH No. 5114
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15831583 (8) Any person who contributed to the System as a correctional
15841584 officer, a probation and parole officer or a fugitive apprehension
15851585 agent as provided in paragraph (b) or (c) of subsection (1) of
15861586 Section 919.1 of this title, and who retires under normal retire ment
15871587 or early retirement on or after January 1, 2004, under paragraph
15881588 (24) of Section 902 of this title, and any public safety officer
15891589 described by paragraph (37) of Section 902 of this title hired on or
15901590 after the effective date of this act by the Grand Ri ver Dam
15911591 Authority and who retires on or after the effective date of t his
15921592 act, shall have retirement benefits for each year of full -time-
15931593 equivalent participating service as a correctional officer, a
15941594 probation and parole officer or a fugitive apprehension ag ent, or
15951595 Grand River Dam public safety officer computed on two and one -half
15961596 percent (2 1/2%) of the final average compensation based upon those
15971597 years as a correctional officer, a probation and parole officer, a
15981598 fugitive apprehension agent or a Grand River D am public safety
15991599 officer. For purposes of this paragraph, "final average
16001600 compensation" shall be determined by computing the average annual
16011601 salary, in the manner prescribed by paragraph (18) of Section 902 of
16021602 this title, for the highest three (3) years of the last ten (10)
16031603 years of participating service immediately precedin g retirement or
16041604 termination of employment for all years of service performed by such
16051605 member, both for years of service performed as a correctional
16061606 officer, probation and parole officer or fugitive apprehension RBH No. 5114
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16331633 agent, or years of service performed as a Gran d River Dam public
16341634 safety officer, not in excess of twenty (20) years, and for years of
16351635 service performed in excess of twenty (20) years, whether as a
16361636 correctional officer, probation and parole officer, fugitive
16371637 apprehension agent, Grand River Dam public s afety officer, or other
16381638 position unless the computation of benefits would result in a lower
16391639 retirement benefit amount than if final average compensation were to
16401640 be computed as otherwise p rovided by this paragraph. "Final average
16411641 compensation" shall be determined by computing the average annual
16421642 salary for the highest five (5) of the last ten (10) years of
16431643 participating service immediately preceding retirement or
16441644 termination of employment, with respect to members whose first
16451645 participating service occurs on o r after July 1, 2013, or with
16461646 respect to Grand River Dam public safety officers whose first
16471647 participating service occurs on or after the effective date of this
16481648 act.
16491649 (9) Any member who is :
16501650 a. initially on or after July 1, 2002, employed as a
16511651 firefighter for the Oklahoma Military Department and
16521652 who retires on or after the member 's normal retirement
16531653 date shall be entitled to receive an annual retirement
16541654 benefit equal to two and one -half percent (2 1/2%) of
16551655 the final average compensation of the member RBH No. 5114
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16821682 multiplied by the number of years of service in such
16831683 service,
16841684 b. (1) a firefighter who performs firefighting services
16851685 for the Oklahoma Military Department prior to
16861686 July 1, 2002, and who makes an election in
16871687 writing on a form prescribed for this purpose by
16881688 the System not later than December 31, 2002,
16891689 shall be entitled to receive a retirement benefit
16901690 based upon two and one -half percent (2 1/2%) of
16911691 the final average compensation of the member
16921692 multiplied by the number of years of service as a
16931693 firefighter with the Oklah oma Military Department
16941694 on or after July 1, 2002. The election
16951695 authorized by this subdivision shall be
16961696 irrevocable once the election is filed with the
16971697 System,
16981698 (2) a firefighter who perfo rms firefighting services
16991699 for the Oklahoma Military Department prior to
17001700 July 1, 2002, and who makes the election in
17011701 division (1) of this subparagraph may also make
17021702 an election in writing on a form prescribed for
17031703 this purpose by the System not later than
17041704 December 31, 2002, to receive a retirement
17051705 benefit based upon two and o ne-half percent (2 RBH No. 5114
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17321732 1/2%) of the final average compensation of the
17331733 member multiplied by the number of years of
17341734 service as a firefighter with the Oklahoma
17351735 Military Department prior to July 1, 2002. The
17361736 election authorized by this subdivision shall be
17371737 irrevocable once the election is filed with the
17381738 System. Retirement benefits shall be calculated
17391739 based upon the two and one -half percent (2 1/2%)
17401740 multiplier upon payment being made pursuant to
17411741 Section 913.5 of this title.
17421742 (10) Any person who contributes to the System as a deputy
17431743 sheriff or county jailer as provided in paragraph (f) of subsection
17441744 (1) of Section 919.1 of this title, and who was:
17451745 a. employed by a participating employer in the System
17461746 for the first time as a deputy sheriff or jail er on
17471747 or after November 1, 2020, and who retires under
17481748 normal retirement or early retirement unde r division
17491749 (v) of subparagraph (d) of paragraph (24) of Section
17501750 902 of this title, shall have retirement benefits for
17511751 each year of full-time-equivalent participating
17521752 service as a deputy sheriff or county jailer computed
17531753 on two and one-half percent (2 1/2%) of the final
17541754 average compensation based upon those years as a
17551755 deputy sheriff or county jailer, and any years in RBH No. 5114
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17821782 excess of twenty (20) years as a deputy sheriff or
17831783 county jailer, or years credited to the member in
17841784 accordance with the provisions of Section 913 of this
17851785 title, shall be calculated for retirement purposes at
17861786 two percent (2%) of the final average compensation of
17871787 the member multiplied by the number of years of such
17881788 service, or
17891789 b. (1) employed by a participating employer in the
17901790 System for the first time as a deputy sheriff or
17911791 county jailer before November 1, 2020, and who
17921792 retires under the normal retirement or early
17931793 retirement under division (vi) of subparagraph
17941794 (d) of paragraph (24) of Section 902 of this
17951795 title, shall be entitled to receive a retirement
17961796 benefit based on two and one -half percent (2
17971797 1/2%) of the final average compensation of the
17981798 member multiplied based on the number of years of
17991799 service as a deputy sheriff or county jailer with
18001800 any county participating in the System on or
18011801 after November 1, 2024 ,
18021802 (2) employed by a participating employer in the
18031803 System for the first time as a deputy sheriff or
18041804 county jailer before November 1, 2020, and who
18051805 retires under the normal retirement or early RBH No. 5114
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18321832 retirement under division (vi) of subparagraph
18331833 (d) of paragraph (24) of Section 902 of this
18341834 title, and who makes an election in writing not
18351835 later than July 1, 2025, on a form prescribed for
18361836 this purpose by the System , shall be entitled to
18371837 a retirement benefit based upon two and one-half
18381838 percent (2 1/2%) of the final average
18391839 compensation of the member multiplied by the
18401840 number of years of service prior to November 1,
18411841 2024, as a deputy sheriff or county jailer
18421842 employed by any county that i s a participating
18431843 employer in the System. The election authorized
18441844 by this subparagraph shall b e irrevocable once
18451845 the election is filed with the System.
18461846 Retirement benefits shall be calculated based
18471847 upon the two and one -half percent (2 1/2%)
18481848 multiplier upon payment being made pursuant to
18491849 Section 913.5 of this title . Any person
18501850 otherwise qualifying under this subparagraph , but
18511851 who is not employed as a deputy sheriff or county
18521852 jailer on November 1, 2024, and who is reemployed
18531853 as a deputy sheriff or county jail er with a
18541854 county that is a participating employer in the
18551855 System after November 1, 2024, shall have six (6) RBH No. 5114
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18821882 months from the initial date of reemployment to
18831883 make the election authorized in this
18841884 subparagraph.
18851885 c. For purposes of this paragraph (10), "final average
18861886 compensation" shall be determined by computing the
18871887 average annual salary, in the manner prescribed by
18881888 paragraph (18) of Section 902 of this title, both for
18891889 years of service performed as a deputy sheriff or
18901890 county jailer not in excess of twenty (20) years, and
18911891 for years of service performed in excess of twenty
18921892 (20) years, whether as a deputy sheriff or county
18931893 jailer.
18941894 (11) Upon death of a retiree, there shall be paid to his or her
18951895 beneficiary an amount equal to the excess, if any, of his or her
18961896 accumulated contributions over the sum of all retirement benefit
18971897 payments made.
18981898 (12) Such annual retirement benefits shall be paid in equal
18991899 monthly installments, except that the Board may provide for the
19001900 payment of retirement benefits which total less than Two Hundred
19011901 Forty Dollars ($240.00) a year on other than a monthly basis.
19021902 (13) Pursuant to the rules established by the Board, a retiree
19031903 receiving monthly benefits from the System may authorize warrant
19041904 deductions for any products currently offered to active s tate
19051905 employees through the Employees Benefits Council, provided that RBH No. 5114
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19321932 product is offered to state retirees as a group and has a minimum
19331933 participation of five hundred state retirees. The System has no
19341934 responsibility for the marketing, enrolling or administr ation of
19351935 such products, but shall retain a processing fee of two percent (2%)
19361936 of the gross deductions for the products. Retirement benefit
19371937 deductions shall be made for membership dues for any statewide
19381938 association for which payroll deductions are authoriz ed pursuant to
19391939 subsection B of Section 34.70 of Title 62 of the Oklahoma Statutes
19401940 for retired members of any state -supported retirement system, upon
19411941 proper authorization given by the member to the board from which the
19421942 member or beneficiary is currently rec eiving retirement benefits.
19431943 B. A member shall be considered disabled if such member
19441944 qualifies for the payment of Social Security disability benefits, or
19451945 the payment of benefits pursuant to the Railroad Retirement Act of
19461946 1974, Section 231 et seq. of Title 45 of the United States Code, and
19471947 shall be eligible for benefits hereunder upon proof of such
19481948 disability, provided such member is an active regularly scheduled
19491949 employee with a participating employer at the time of injury or
19501950 inception of illness or disease resulting in subsequent
19511951 certification of eligibility for Social Security disability benefits
19521952 by reason of such injury, illness or disease, providing such
19531953 disability is certified by the Social Security Administration within
19541954 one (1) year after the last date physically on the job and after
19551955 completion of at least eight (8) years of participating service or RBH No. 5114
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19821982 combined prior and participating service or resulting in subsequent
19831983 certification of eligibility of disability by the Railroad
19841984 Retirement Board providing suc h certification is made by the
19851985 Railroad Retirement Board within one (1) year after the last date
19861986 physically on the job and after completion of at least eight (8)
19871987 years of participating service or combined prior and participating
19881988 service. The member shall submit to the Retirement System the
19891989 Social Security Award Notice or the Railroad Retirement Award Notice
19901990 certifying the date of entitlement for disability benefits, as
19911991 issued by the Social Security Administration, Department of Health
19921992 and Human Services or the Railroad Retirement Board. Disability
19931993 benefits shall become effective on the date of entitlement as
19941994 established by the Social Security Administration or the Railroad
19951995 Retirement Board, but not before the first day of the month
19961996 following removal from t he payroll, whichever is later, and final
19971997 approval by the Retirement System. Benefits shall be based upon
19981998 length of service and compensation as of the date of disability,
19991999 without actuarial reduction because of commencement prior to the
20002000 normal retirement date. The only optional form of benefit payment
20012001 available for disability benefits is Option A as provided for in
20022002 Section 918 of this title. Option A must be elected in accordance
20032003 with the provisions of Section 918 of this title. Benefit payments
20042004 shall cease upon the member's recovery from disability prior to the
20052005 normal retirement date. Future benefits, if any, shall be paid RBH No. 5114
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20322032 based upon length of service and compensation as of the date of
20332033 disability. In the event that disability ceases and the member
20342034 returns to employment within the System credited service to the date
20352035 of disability shall be restored, and future benefits shall be
20362036 determined accordingly.
20372037 C. A member who incurred a disability pursuant to subsection B
20382038 of this section on or after July 1, 1999, and who has retired from
20392039 the System with an early retirement benefit pending certification
20402040 from the Social Security Administration or the Railroad Retirement
20412041 Board shall receive a retirement benefit not less than the
20422042 disability retirement benefit provided by subsection B of this
20432043 section once the System receives a Social Security Award Notice or a
20442044 Railroad Retirement Award Notice pursuant to subsection B of this
20452045 section and a completed Application for Disability Benefits. In
20462046 addition, such member shall rec eive the difference, if any, between
20472047 the early retirement benefit and the disability benefit from the
20482048 date the Social Security Administration or the Railroad Retirement
20492049 Board establishes disability entitlement.
20502050 D. Any actively participating member of the System on or after
20512051 July 1, 1998, except for those employees provided in subparagraph
20522052 (e) of paragraph (14) of Section 902 of this title, whose employment
20532053 is less than full-time, shall have his or her final average
20542054 compensation calculated on an annualized b asis using his or her
20552055 hourly wage subject to the maximum compensation limits; provided, RBH No. 5114
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20822082 however, any such member whose first participating service occurred
20832083 before July 1, 2013, and who has at least three (3) years of full -
20842084 time employment during the last te n (10) years immediately preceding
20852085 termination or retirement shall not be eligible for the
20862086 annualization provisions contained herein; and provided further, any
20872087 such member whose first participating service occurred on or after
20882088 July 1, 2013, and who has at least five (5) years of full-time
20892089 employment during the last ten (10) years immediately preceding
20902090 termination or retirement shall not be eligible for the
20912091 annualization provisions contained herein. The Board of Trustees
20922092 shall promulgate such administrative rules as are necessary to
20932093 implement the provisions of this subsection.
20942094 SECTION 3. AMENDATORY 74 O.S. 2021, Section 916.3, is
20952095 amended to read as follows:
20962096 Section 916.3 Pension benefit on behalf of correctional,
20972097 probation and parole officers killed in the line of duty - Dependent
20982098 children and education.
20992099 A. Notwithstanding the provisions of Sections 901 through 932
21002100 of this title, a monthly pension, as provide d in subsection B of
21012101 this section, shall be paid on behalf of any member who is a:
21022102 correctional 1. Correctional officer or probation and parole
21032103 officer of the Department of Corrections and who is killed or
21042104 mortally wounded on or after January 1, 2000, during the performanc e
21052105 of the member's duties for the Departmen t or any employee of the RBH No. 5114
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21322132 Department of Corrections who is killed or mortally wounded after
21332133 June 30, 2004, during the performance of the member 's duties for the
21342134 Department. The monthly pension described in this sec tion shall be
21352135 paid on behalf of any membe r first hired by any county that is a
21362136 participating employer in the System as a deputy ;
21372137 2. Deputy sheriff or county jailer first hired on or after
21382138 November 1, 2020, by any county that is a participating member in
21392139 the System, and who is killed or mortally w ounded during the
21402140 performance of the member's duties as a deputy sheriff or jailer .;
21412141 and
21422142 3. Deputy sheriff or county jailer first hired before November
21432143 1, 2020, by any county that is a participating employer in the
21442144 System, and who is killed or mortally wo unded during the performan ce
21452145 of the member's duties for the participating county on or after
21462146 November 1, 2024.
21472147 B. The monthly benefit shall be equal to:
21482148 1. Two and one-half percent (2 1/2%);
21492149 2. Multiplied by twenty (20) years of service, regardless of
21502150 the actual number of years of credited service performed by the
21512151 member prior to death, if the member had performed less than twenty
21522152 (20) years of credited service, or the actual number of years of
21532153 credited service of the member if greater than twenty (20) y ears;
21542154 3. Multiplied by th e member's final average compensation; and
21552155 4. Divided by 12. RBH No. 5114
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21822182 C. The pension provided for in subsection A of this section
21832183 shall be paid:
21842184 1. Except as provided in subsection D of this section, to the
21852185 surviving spouse for life; or
21862186 2. If there is no surviv ing spouse or upon the death of the
21872187 surviving spouse:
21882188 a. to the surviving child or children of said member or
21892189 legal guardian of such child or children for such time
21902190 as such child or children are under the age of
21912191 eighteen (18) years, or
21922192 b. to the surviving child or children between the age of
21932193 eighteen (18) and twenty-two (22) years if the child
21942194 is enrolled full time in and is regularly attending a
21952195 public or private school or any institution of higher
21962196 education.
21972197 D. No surviving spou se shall receive benefits from this
21982198 section, Section 49-113 of Title 11 of t he Oklahoma Statutes,
21992199 Section 50-117 of Title 11 of the Oklahoma Statutes, or Section 2 -
22002200 306 of Title 47 of the Oklahoma Statutes as the surviving spouse of
22012201 more than one member of the Oklahoma Firefighters Pension and
22022202 Retirement System, the Oklahoma Police Pension and Retirement
22032203 System, the Oklahoma Law Enforcement Retirement System, or the
22042204 Oklahoma Public Employees Retirement System. The surviving spouse RBH No. 5114
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22312231 of more than one member sh all elect which member's benefits he or
22322232 she will receive.
22332233 E. In addition to the pension above provided for, if said
22342234 member leaves one or more children under the age of eighteen (18)
22352235 years or under the age of twenty -two (22) years if the child is
22362236 enrolled full-time in and is regula rly attending a public or private
22372237 school or any institution of higher education, Four Hundred Dollars
22382238 ($400.00) a month shall be paid to the surviving spouse or to the
22392239 person having the care and custody of such children if there i s no
22402240 surviving spouse or i f the surviving spouse dies and until each
22412241 child reaches the age of eighteen (18) years or reaches the age of
22422242 twenty-two (22) years if the child is enrolled full -time in and is
22432243 regularly attending a public or private school or any institution of
22442244 higher education.
22452245 F. The pension benefit provided in this s ection shall be made
22462246 prospectively only from the effective date of this act. The
22472247 benefits shall be payable beginning the later of the first day of
22482248 the month following the date tha t such employee was killed or dies
22492249 from a mortal wound, as provided in this section, or the effective
22502250 date of this act.
22512251 G. The Board of the Oklahoma Public Employees Retirement System
22522252 shall promulgate such rules as are necessary to implement the
22532253 provisions of this section. RBH No. 5114
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22802280 SECTION 4. AMENDATORY 74 O.S. 2021, Section 919.1, is
22812281 amended to read as follows:
22822282 Section 919.1 Employee contribution – Rate – Deduction –
22832283 Remittance - Picked up contributions – Refund.
22842284 (1) Employee contributions to the System shall be :
22852285 (a) for employees except as otherwise provided in
22862286 paragraphs (b), (c), (d), (e), (f) and (g) of this
22872287 subsection: beginning July 1, 2006, and thereafter,
22882288 three and one-half percent (3.5%) of allowable annual
22892289 compensation;
22902290 (b) for correctional officers an d probation and parole
22912291 officers employed by the Department of Corrections:
22922292 beginning July 1, 1998, and thereafter, and for
22932293 correctional officers or probation and parole officers
22942294 who are in such position on June 30, 2004, or who are
22952295 hired after June 30, 20 04, and who receive a promotion
22962296 or change in job classification after June 30, 2004,
22972297 to another position in the Department of Corrections,
22982298 so long as such officers have at least five (5) years
22992299 of service as a correct ional officer or probation and
23002300 parole officer, eight percent (8%) of allowable
23012301 compensation as provided in paragraph (9) of Section
23022302 902 of this title; RBH No. 5114
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23292329 (c) for fugitive apprehension agents who are employed with
23302330 the Department of Corrections on or after July 1,
23312331 2002, and for fugitive apprehension agents who are in
23322332 such position on June 30, 2004, or who are hired after
23332333 June 30, 2004, and who receive a promotion or change
23342334 in job classification after June 30, 2004, to another
23352335 position in the Department of Correc tions, so long as
23362336 such agents have at le ast five (5) years of service as
23372337 a fugitive apprehension agent, eight percent (8%) of
23382338 allowable compensation as provided in paragraph (9) of
23392339 Section 902 of this title;
23402340 (d) for firefighters of the Oklahoma Military De partment
23412341 first employed beginning July 1 , 2002, and thereafter,
23422342 and such firefighters who performed service prior to
23432343 July 1, 2002, for the Okla homa Military Department and
23442344 who make the election authorized by division (1) of
23452345 subparagraph b of paragraph (9) of subsection A of
23462346 Section 915 of this t itle who perform service on or
23472347 after July 1, 2002, in such capacity, eight percent
23482348 (8%) of allowable co mpensation as provided in
23492349 subsection (9) of Section 902 of this title;
23502350 (e) for all public safety officers of the Grand River Dam
23512351 Authority as defined by paragraph (37) of Section 902
23522352 of this title, eight percent (8%) of allowable RBH No. 5114
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23792379 compensation as provided i n paragraph (9) of Section
23802380 902 of this title;
23812381 (f) for deputy sheriffs and county jailers employed by any
23822382 county that is a participating employer in the S ystem
23832383 for the first time as a deputy sheriff or jailer on or
23842384 after November 1, 2020, or beginning November 1, 2024,
23852385 those deputy sheriffs and coun ty jailers employed b y
23862386 any county that is a participating employer in the
23872387 System for the first time as a deput y sheriff or
23882388 county jailer before November 1, 2020, eight percent
23892389 (8%) of allowable compensation as provided in
23902390 paragraph (9) of Section 902 of this title; and
23912391 (g) for all employees except those who make contribution s
23922392 pursuant to paragraphs (b), (c), (d), (e) and (f) of
23932393 this subsection who make an irrevocable written
23942394 election pursuant to paragraph (2) of subsection A of
23952395 Section 915 of this title: six and forty -one one-
23962396 hundredths percent (6.41%) of allowable annual
23972397 compensation.
23982398 The contributions required b y paragraphs (b), (c), (e), and (f)
23992399 of this subsection shall be made b y a member for not more than
24002400 twenty (20) years and thereafter shall be as provided in paragraph
24012401 (a) of this subsection. RBH No. 5114
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24282428 (2) Contributions shall b e deducted by each state agency by the
24292429 participating employer for such benefits as the Board is authorized
24302430 to administer as provided for by law. Employee and employer
24312431 contributions shall be remitted monthly, or as the Board may
24322432 otherwise provide, to the E xecutive Director for deposit in the
24332433 Oklahoma Public Employees Retirement Fund.
24342434 (3) Each participating employ er shall pick up under the
24352435 provisions of Section 414(h)(2) of the Internal Revenue Code of 1986
24362436 and pay the contribution which the member is requi red by law to make
24372437 to the System for all compensation earned after December 31, 1988.
24382438 Although the contributi ons so picked up are designated as member
24392439 contributions, such contributions shall be treated as contributions
24402440 being paid by the participating empl oyer in lieu of contributions by
24412441 the member in determining tax treatment under the Internal Revenue
24422442 Code of 1986 and such picked up contributions shall not be
24432443 includable in the gross income of the member until such amounts are
24442444 distributed or made available to the member or the beneficiary of
24452445 the member. The member, by the terms of this System, shall not have
24462446 any option to choose to receive the contributions so picked up
24472447 directly and the picked up contributions must be paid by the
24482448 participating employer to the System.
24492449 Member contributions which a re picked up shall be treated in the
24502450 same manner and to the same exten t as member contributions made
24512451 prior to the date on which member contributions were picked up by RBH No. 5114
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24782478 the participating employer. Member contributions so picked up shall
24792479 be included in gross salary for purposes of determining benefits and
24802480 contributions under t he System.
24812481 The participating employer shall pay the member contributions
24822482 from the same source of funds used in paying salary to the member,
24832483 by effecting an equal cash reduction in gross salary of the member.
24842484 (4) By September 1, 1989, the System shall refu nd the
24852485 accumulated employee contributions of any member who elects to
24862486 retain the member's membership in the Teachers ' Retirement System of
24872487 Oklahoma, in accordance with Section 17 -104 of Title 70 of the
24882488 Oklahoma Statutes, to such member. Upon the refund of the
24892489 accumulated employee contributions referred to in this subsection,
24902490 all benefits and rights accrued to such member are terminated.
24912491 SECTION 5. AMENDATORY 74 O.S. 2021, Section 920A, is
24922492 amended to read as follows:
24932493 Section 920A. Counties and municipalities - Employer and
24942494 employee contributions.
24952495 A. Any county, county hospital, city or town, conservation
24962496 district, circuit engineering district or any public or pr ivate
24972497 trust in which a county, city or town participates an d is the
24982498 primary beneficiary, which is a participating employer and any
24992499 eligible employee shall contribute to the System. The total
25002500 employer and employee contributions shall be based on the allowa ble
25012501 annual compensation as defined in paragraph (9) of Sect ion 902 of RBH No. 5114
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25282528 this title. Except as provided for in this section, the employer
25292529 shall not pay for the employee any of the employee contribution to
25302530 the System.
25312531 B. For the fiscal year ending June 30, 2 005, the total employer
25322532 and employee contributions shall eq ual thirteen and one -half percent
25332533 (13 1/2%) of the allowable monthly compensation of each member;
25342534 provided, however, each participating employer listed in this
25352535 section may set the amount of the emp loyer and employee contribution
25362536 to equal thirteen and one -half percent (13 1/2%) of the allowable
25372537 monthly compensation of each member for compensation as provided in
25382538 paragraph (9) of Section 902 of this title; provided, the employer
25392539 contribution shall not exceed ten percent (10%) and the employee
25402540 contribution shall not exceed eight and one -half percent (8 1/2%).
25412541 C. The total employer and employee contributions for fiscal
25422542 years following the fiscal year e nding June 30, 2005, shall be as
25432543 follows:
25442544 July 1, 2005 – June 30, 2006 15%
25452545 July 1, 2006 – June 30, 2007 16%
25462546 July 1, 2007 – June 30, 2008 17%
25472547 July 1, 2008 – June 30, 2009 18%
25482548 July 1, 2009 – June 30, 2010 19%
25492549 July 1, 2010 – June 30, 2011 and
25502550 each fiscal year thereafter 20% RBH No. 5114
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25772577 Such employee and employer contributi ons shall be based upon the
25782578 allowable monthly compensation of each member for compensation as
25792579 provided in paragraph (9) of Section 902 of this title. The maximum
25802580 employer contribution of ten percent (10 %) in subsection B of this
25812581 section shall increase by one and one-half percent (1.5%) beginning
25822582 in the fiscal year ending June 30, 2006, and one percent (1%) for
25832583 each fiscal year thereafter until it reaches sixteen and one -half
25842584 percent (16.5%). For such ye ars, the employee contribution shall
25852585 not exceed eight and one-half percent (8 1/2%). Notwithstanding any
25862586 other provisions of this section to the contrary, for those members
25872587 described in division (v) and (vi) of subparagraph (d) of paragraph
25882588 (24) of Section 902 of this title, the county shall contribute
25892589 sixteen and one-half percent (16 1/2%) and the employee shall
25902590 contribute eight percent (8%) for a total of twenty -four and one-
25912591 half percent (24 1/2%).
25922592 D. For members who make the election pursuant to paragr aph (2)
25932593 of subsection A of Section 915 of this title, the employee
25942594 contribution shall increase by two and ninety -one one-hundredths
25952595 percent (2.91%). Such employee contribution increase shall be paid
25962596 by the employee.
25972597 E. Each participating employer pursuan t to the provisions of
25982598 this section may pick up under the provisions of Section 414(h)(2)
25992599 of the Internal Revenue Code of 1986 and pay the contribution which
26002600 the member is required by law to make to the System for all RBH No. 5114
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26272627 compensation earned after December 31, 1989. Although the
26282628 contributions so picked up are d esignated as member contributions,
26292629 such contributions shall be treat ed as contributions being paid by
26302630 the participating employer in lieu of contributions by the member in
26312631 determining tax treatment under the Internal Revenue Code of 1986
26322632 and such picked up contributions shall not be includable in the
26332633 gross income of the mem ber until such amounts are distributed or
26342634 made available to the member or the beneficiary of the member. The
26352635 member, by the terms of t his System, shall not have any option to
26362636 choose to receive the contributions so picked up directly and the
26372637 picked up contributions must be paid by the participating employer
26382638 to the System.
26392639 F. Member contributions which are picked up shall be treated in
26402640 the same manner and to the same extent as member contri butions made
26412641 prior to the date on which member contributions were pi cked up by
26422642 the participating employer. Member contributions so picked up shall
26432643 be included in gross salary for purposes of determining benefits and
26442644 contributions under the System.
26452645 G. The participating employer shall pay the member
26462646 contributions from the same source of funds used in paying salary to
26472647 the member, by effecting an equal cash reduction in gross salary of
26482648 the member. RBH No. 5114
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26752675 SECTION 6. This act shall become effective November 1, 2024.
26762676
26772677 59-1-5114 CMA 11/29/22
26782678
26792679 THOMAS E. CUMMINS CONSULTING ACTUARY, INC.
26802680 2512 E. 71
26812681 st
26822682 Street , Suite D ∙ Tulsa, Oklahoma 74136
26832683 (918) 492-9658 ∙ (918) 492- 9659
26842684
26852685
26862686
26872687 January 5, 2023
26882688
26892689
26902690
26912691 Representative Josh West
26922692 Room 205
26932693
26942694
26952695
26962696 Re: RHB No. 5114
26972697
26982698
26992699 RBH No. 5114 provides hazardous duty style benefit for deputy
27002700 sheriffs for counties participating in OPERS. The per year
27012701 multiplier is increased to 2.5% from 2.0%. The deputy sheriff’s
27022702 contribution is 8% of comprnsation.
27032703
27042704
27052705
27062706 RBH No. 5114 is a fiscal bill as defined by OPLAAA.
27072707
27082708 I am a member of the American Academy of Actuaries and meet the
27092709 Qualification Standards of the American Academy of Actuaries to
27102710 render the actuarial opinion herein.
27112711
27122712
27132713 Thomas E. Cummins
27142714
27152715 Thomas E. Cummins, MAAA
27162716
27172717