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33 | + | ENGROSSED HOUSE | |
3 | 34 | BILL NO. 1805 By: Hays of the House | |
4 | 35 | ||
5 | 36 | and | |
6 | 37 | ||
7 | - | Murdock and Bullard of the | |
8 | - | Senate | |
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38 | + | Murdock of the Senate | |
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15 | 43 | An Act relating to public retirement systems; | |
16 | 44 | amending 74 O.S. 2021, Sections 902, as amended by | |
17 | 45 | Section 2, Chapter 146, O.S.L. 2 023, 915, 916.3, | |
18 | 46 | 919.1, and 920A (74 O.S. Supp. 2023, Section 902), | |
19 | 47 | which relate to the Oklahoma Public Employees | |
20 | 48 | Retirement System definitions, benefit amount, and | |
21 | 49 | contributions; providing for membership by emergency | |
22 | 50 | medical personnel; conforming language ; establishing | |
23 | 51 | employee and employer contributions; updating | |
24 | 52 | statutory language; providing for death benefits; and | |
25 | 53 | providing an effective date. | |
26 | 54 | ||
27 | 55 | ||
28 | 56 | ||
29 | - | SUBJECT: Public retirement systems | |
30 | - | ||
31 | 57 | BE IT ENACTED BY THE PEOPLE OF THE STATE OF OKLAHOMA: | |
32 | - | ||
33 | 58 | SECTION 1. AMENDATORY 74 O.S. 2021, Section 902, as | |
34 | 59 | amended by Section 2, Chapter 146, O.S.L. 2023 (74 O.S. Supp. 2023, | |
35 | 60 | Section 902), is amended to read as follows: | |
36 | - | ||
37 | 61 | As used in Section 901 et seq. of this title: | |
38 | - | ||
39 | 62 | (1) "System" means the Oklahoma Public Employees Retirement | |
40 | 63 | System as established by Section 901 et seq. of this title and as it | |
41 | 64 | may hereafter be amended; | |
42 | 65 | ||
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43 | 92 | (2) "Accumulated contributions " means the sum of all | |
44 | 93 | contributions by a member to the System which shall be credited to | |
45 | 94 | the member’s account; | |
46 | - | RBH No. 7384 | |
47 | - | ENR. H. B. NO. 1805 Page 2 | |
48 | 95 | (3) "Act" means Sections 901 t o 932, inclusive, of this title; | |
49 | - | ||
50 | 96 | (4) "Actuarial equivalent " means a deferred income benefit of | |
51 | 97 | equal value to the accumulated deposits or benefits when computed | |
52 | 98 | upon the basis of the actuarial tables in use by the System; | |
53 | - | ||
54 | 99 | (5) "Actuarial tables" means the actuarial tables approved and | |
55 | 100 | in use by the Board at any given time; | |
56 | - | ||
57 | 101 | (6) "Actuary" means the actuary or firm of actuaries employed | |
58 | 102 | by the Board at any given time; | |
59 | - | ||
60 | 103 | (7) "Beneficiary" means any person named by a member to receive | |
61 | 104 | any benefits as provided f or by Section 901 et seq. of this title. | |
62 | 105 | If there is no beneficiary living at time of member employee’s | |
63 | 106 | death, the member’s estate shall be the beneficiary; | |
64 | - | ||
65 | 107 | (8) "Board" means the Oklahoma Public Employees Retirement | |
66 | 108 | System Board of Trustees; | |
67 | - | ||
68 | 109 | (9) "Compensation" means all salary and wages, as defined by | |
69 | 110 | the Board of Trustees, including amounts deferred under deferred | |
70 | 111 | compensation agreements ente red into between a member and a | |
71 | 112 | participating employer , but exclusive of. Compensation shall not | |
72 | 113 | mean payment for overtime, payable to a member of the System for | |
73 | 114 | personal services performed for a participating employer but shall | |
74 | 115 | not include, compensation or reimbursement for traveling, or moving | |
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75 | 143 | expenses, or any compensation in excess of the maximum compensation | |
76 | 144 | level, provided: | |
77 | - | ||
78 | 145 | (a) For compensation for service prior to January 1, 1988, | |
79 | 146 | the maximum compensation level shall be Twenty -five | |
80 | 147 | Thousand Dollars ($25,000.00) per annum. | |
81 | - | ||
82 | 148 | For compensation for service on or after January 1, | |
83 | 149 | 1988, through June 30, 1994, the maxim um compensation | |
84 | 150 | level shall be Forty Thousand Dollars ($40,000.00) per | |
85 | 151 | annum. | |
86 | - | ||
87 | 152 | For compensation for service on or after July 1, 1994, | |
88 | 153 | through June 30, 1995, the maximum compensation level | |
89 | 154 | shall be Fifty Thousand Dollars ($50,000.00) per | |
90 | 155 | annum; for compensat ion for service on or after July | |
91 | 156 | 1, 1995, through June 30, 1996, the maximum | |
92 | - | compensation level shal l be Sixty Thousand Dollars RBH No. 7384 | |
93 | - | ENR. H. B. NO. 1805 Page 3 | |
157 | + | compensation level shall be Sixty Thousand Dollars | |
94 | 158 | ($60,000.00) per annum; for compensation for service | |
95 | 159 | on or after July 1, 1996, through June 30, 1997, the | |
96 | 160 | maximum compensation l evel shall be Seventy Thousand | |
97 | 161 | Dollars ($70,000.00) per annum; and for compensation | |
98 | 162 | for service on or after July 1, 1997, through June 30, | |
99 | 163 | 1998, the maximum compensation level shall be Eighty | |
100 | 164 | Thousand Dollars ($80,000.00) per annum. For | |
101 | 165 | compensation for services on or after July 1, 1998, | |
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102 | 193 | there shall be no maximum compensation level for | |
103 | 194 | retirement purposes. | |
104 | - | ||
105 | 195 | (b) Compensation for retirement purpose s shall include any | |
106 | 196 | amount of elective salary reduction under Section 457 | |
107 | 197 | of the Internal Revenue Code of 1986 an d any amount of | |
108 | 198 | nonelective salary reduction under Section 414(h) of | |
109 | 199 | the Internal Revenue Code of 1986. | |
110 | - | ||
111 | 200 | (c) Notwithstanding any provision to the contrary, the | |
112 | 201 | compensation taken into account for any employee in | |
113 | 202 | determining the contribution or benefit accru als for | |
114 | 203 | any plan year is limited subject to the annual | |
115 | 204 | compensation limit under Section 401(a)(17) of the | |
116 | 205 | federal Internal Revenue Code. | |
117 | - | ||
118 | 206 | (d) Current appointed members of the Oklahoma Tax | |
119 | 207 | Commission whose salary is constitutionally limited | |
120 | 208 | and is less than the highest salary allowed by law for | |
121 | 209 | his or her position shall be allowed, within ninety | |
122 | 210 | (90) days from March 21, 2001, to make an election to | |
123 | 211 | use the highest salary allowed by law for the position | |
124 | 212 | to which the member was appointed for the purposes of | |
125 | 213 | making contributions and determination of retirement | |
126 | 214 | benefits. Such election shall be irrevocable and be | |
127 | 215 | in writing. Reappointment to the same o ffice shall | |
128 | 216 | not permit a new election. Members appointed to the | |
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129 | 244 | Oklahoma Tax Commission after the March 21, 2001, | |
130 | 245 | shall make such election, pursuant to this | |
131 | 246 | subparagraph, within ninety (90) days of taking | |
132 | 247 | office; | |
133 | - | ||
134 | 248 | (10) "Credited service" means the sum of participating service, | |
135 | 249 | prior service and elected service; | |
136 | - | RBH No. 7384 | |
137 | - | ENR. H. B. NO. 1805 Page 4 | |
138 | 250 | (11) "Dependent" means a parent, child, or spouse of a member | |
139 | 251 | who is dependent upon the member for at least one -half (1/2) of the | |
140 | 252 | member’s support; | |
141 | - | ||
142 | 253 | (12) "Effective date" means the date upon which the System | |
143 | 254 | becomes effective by operation of law; | |
144 | - | ||
145 | 255 | (13) "Eligible employer" means the state and any county, count y | |
146 | 256 | hospital, city or town, conservation districts, circuit engineering | |
147 | 257 | districts and any public or private trust in which a county, city or | |
148 | 258 | town participates and is the primary beneficiary, is to be an | |
149 | 259 | eligible employer for the purpose of Section 901 et seq . of this | |
150 | 260 | title only, whose employees are covered by Social Security and are | |
151 | 261 | not covered by or eligible for another retirement plan authorized | |
152 | 262 | under the laws of this state which is in operation on the initial | |
153 | 263 | entry date. Emergency medical service district s may join the System | |
154 | 264 | upon proper application to the Board. Provided, affiliation by a | |
155 | 265 | county hospital shall be in the form of a resolution adopted by the | |
156 | 266 | board of control. | |
157 | 267 | ||
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158 | 294 | (a) If a class or several classes of employees of any | |
159 | 295 | above-defined employers are covered by Social Security | |
160 | 296 | and are not covered by or eligible for and will not | |
161 | 297 | become eligible for another retirement plan authorized | |
162 | 298 | under the laws of this state, which is in operation on | |
163 | 299 | the effective date, such employer shall be deemed an | |
164 | 300 | eligible employer, but only with respect to that class | |
165 | 301 | or those classes of employees as defined in this | |
166 | 302 | section. | |
167 | - | ||
168 | 303 | (b) A class or several classes of employees who are | |
169 | 304 | covered by Social Security and are not covered by or | |
170 | 305 | eligible for and will not become eligible for anothe r | |
171 | 306 | retirement plan authorized under the laws of this | |
172 | 307 | state, which is in operation on the effective date, | |
173 | 308 | and when the qualifications for employm ent in such | |
174 | 309 | class or classes are set by state law; and when such | |
175 | 310 | class or classes of employees are employed by a county | |
176 | 311 | or municipal government pursuant to such | |
177 | 312 | qualifications; and when the services provided by such | |
178 | 313 | employees are of such nature that they qualify for | |
179 | 314 | matching by or contributions from state or federal | |
180 | 315 | funds administered by an agency of state government | |
181 | 316 | which qualifies as a participating employer, then the | |
182 | - | agency of state government administering t he state or RBH No. 7384 | |
183 | - | ENR. H. B. NO. 1805 Page 5 | |
317 | + | agency of state government administering the state or | |
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184 | 345 | federal funds shall be deemed an e ligible employer, | |
185 | 346 | but only with respect to that class or those classes | |
186 | 347 | of employees as defined in this subsection ; provided, | |
187 | 348 | that the required contributions to the retirement plan | |
188 | 349 | may be withheld from the contributions of state or | |
189 | 350 | federal funds administered by the state agency and | |
190 | 351 | transmitted to the System on the same basis as the | |
191 | 352 | employee and employer contributions are transmitted | |
192 | 353 | for the direct employees of the state agency. The | |
193 | 354 | retirement or eligibility for retirement under the | |
194 | 355 | provisions of law providi ng pensions for service as a | |
195 | 356 | volunteer firefighter shall not render any person | |
196 | 357 | ineligible for participation in th e benefits provided | |
197 | 358 | for in Section 901 et seq. of this title. An employee | |
198 | 359 | of any public or private trust in which a county, city | |
199 | 360 | or town participates and is the primary beneficiary | |
200 | 361 | shall be deemed to be an eligible employee for the | |
201 | 362 | purpose of Section 901 et seq. of this title only. | |
202 | - | ||
203 | 363 | (c) All employees of the George Nigh Rehabilitation | |
204 | 364 | Institute who elected to retain membership in the | |
205 | 365 | System, pursuant to Section 913.7 of this title, shall | |
206 | 366 | continue to be eligible employees for the purposes of | |
207 | 367 | Section 901 et seq. of this title. The George Nigh | |
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208 | 395 | Rehabilitation Institute shall be considered a | |
209 | 396 | participating employer only for such employees. | |
210 | - | ||
211 | 397 | (d) All employees of CompSource Mutual Insurance Company | |
212 | 398 | who retain membership in the Oklahoma Public Employees | |
213 | 399 | Retirement System pursuant to Section 913.9 of this | |
214 | 400 | title shall continue to be eligible employees for the | |
215 | 401 | purposes of the Oklahoma Public Employees Retiremen t | |
216 | 402 | System. CompSource Mutual Insurance Company shall be | |
217 | 403 | considered a participating employer only for such | |
218 | 404 | employees. | |
219 | - | ||
220 | 405 | (e) All employees of a successor organization, as defined | |
221 | 406 | by Section 5-60.12 of Title 2 of the Oklahoma | |
222 | 407 | Statutes, who retain membership in the Oklahoma Public | |
223 | 408 | Employees Retirement System pursuant to Section 5 - | |
224 | 409 | 60.35 of Title 2 of the Oklahoma Statutes s hall | |
225 | 410 | continue to be eligible employees for the purposes of | |
226 | 411 | the Oklahoma Public Employees Retirement System. A | |
227 | 412 | successor organization shall be considered a | |
228 | - | participating employer only for such emp loyees. RBH No. 7384 | |
229 | - | ENR. H. B. NO. 1805 Page 6 | |
230 | - | ||
413 | + | participating employer only for such employees. | |
231 | 414 | (f) A participating employer of the Teachers’ Retire ment | |
232 | 415 | System of Oklahoma, who has one or more employees who | |
233 | 416 | have made an election pursuant to enabling legislation | |
234 | 417 | to retain membership in the System as a result of | |
235 | 418 | change in administration, shall be considered a | |
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236 | 446 | participating employer of the Oklahoma Publi c | |
237 | 447 | Employees Retirement System only for such employees; | |
238 | - | ||
239 | 448 | (14) "Employee" means any officer or employee of a | |
240 | 449 | participating employer, whose employ ment is not seasonal or | |
241 | 450 | temporary and whose employment requires at least one thousand | |
242 | 451 | (1,000) hours of work per y ear and whose salary or wage is equal to | |
243 | 452 | the hourly rate of the monthly minimum wage for state employees. | |
244 | 453 | For those eligible employers outlined in Section 910 of this title, | |
245 | 454 | the rate shall be equal to the hourly rate of the monthly minimum | |
246 | 455 | wage for that employer. Each employer, whose minimum wage is less | |
247 | 456 | than the state’s minimum wage, shall inform the System of the | |
248 | 457 | minimum wage for that employe r. This notification shall be by | |
249 | 458 | resolution of the governing body. | |
250 | - | ||
251 | 459 | (a) Any employee of the county extension agen ts who is not | |
252 | 460 | currently participating in the Teachers’ Retirement | |
253 | 461 | System of Oklahoma shall be a member of this System. | |
254 | - | ||
255 | 462 | (b) Eligibility shall not include any employee who is a | |
256 | 463 | contributing member of the United States Civil Service | |
257 | 464 | Retirement System. | |
258 | - | ||
259 | 465 | (c) It shall be mandatory for an officer, appointee or | |
260 | 466 | employee of the office of district attorney to become | |
261 | 467 | a member of this System if he or she is n ot currently | |
262 | 468 | participating in a county retirement system. Provided | |
263 | 469 | further, that if an officer, appointee or emp loyee of | |
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264 | 497 | the office of district attorney is currently | |
265 | 498 | participating in such county retirement system, he or | |
266 | 499 | she is ineligible for this System as long as he or she | |
267 | 500 | is eligible for such county retirement system. Any | |
268 | 501 | eligible officer, appointee or employee o f the office | |
269 | 502 | of district attorney shall be given credit for prior | |
270 | 503 | service as defined in this section. The provisions | |
271 | 504 | outlined in Section 917 o f this title shall apply to | |
272 | 505 | those employees who have previously withdrawn their | |
273 | 506 | contributions. | |
274 | - | RBH No. 7384 | |
275 | - | ENR. H. B. NO. 1805 Page 7 | |
276 | 507 | (d) Eligibility shall also not include any officer or | |
277 | 508 | employee of the Oklahoma Employment Security | |
278 | 509 | Commission, except for those officers and employees of | |
279 | 510 | the Commission electing to transfer to this System | |
280 | 511 | pursuant to the provisions of Section 910.1 of this | |
281 | 512 | title or any other class of officers or employees | |
282 | 513 | specifically exempted by the laws of this state, | |
283 | 514 | unless there be a consolidation as provided by Section | |
284 | 515 | 912 of this title. Employees of the Oklahoma | |
285 | 516 | Employment Security Commission who are ineligible for | |
286 | 517 | enrollment in the Oklahoma Employment Security | |
287 | 518 | Commission Retirement Plan, that was in effect on | |
288 | 519 | January 1, 1964, shall become members of this System. | |
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289 | 546 | ||
290 | 547 | (e) Any employee employed by the Legislative Service | |
291 | 548 | Bureau, Senate or House of Representatives for the | |
292 | 549 | full duration of a r egular legislative session shall | |
293 | 550 | be eligible for membership in the System regardless of | |
294 | 551 | classification as a temporary employee and may | |
295 | 552 | participate in the System during the regular | |
296 | 553 | legislative session at the option of the employee. | |
297 | 554 | For purposes of this sub paragraph, the determination | |
298 | 555 | of whether an employee is employed for the full | |
299 | 556 | duration of a regular legislative session shall be | |
300 | 557 | made by the Legislative Service Bureau if such | |
301 | 558 | employee is employed by the Legislative Service | |
302 | 559 | Bureau, the Senate if such employ ee is employed by the | |
303 | 560 | Senate, or by the House of Representatives if such | |
304 | 561 | employee is employed by the House of Representatives. | |
305 | 562 | Each regular legislative session during which the | |
306 | 563 | legislative employee or an employee of the Legislative | |
307 | 564 | Service Bureau particip ates full time shall be counted | |
308 | 565 | as six (6) months of full -time participating service. | |
309 | - | ||
310 | 566 | (i) Except as otherwise provided by this | |
311 | 567 | subparagraph, once a temporary session employee | |
312 | 568 | makes a choice to participate or not, the choice | |
313 | 569 | shall be binding for all future legislative | |
314 | 570 | sessions during which the employee is employed. | |
315 | 571 | ||
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316 | 598 | (ii) Notwithstanding the provisions of division (i) of | |
317 | 599 | this subparagraph, any emplo yee, who is eligible | |
318 | 600 | for membership in the System because of the | |
319 | 601 | provisions of this subparagraph and who was | |
320 | - | employed by the Senate or House of RBH No. 7384 | |
321 | - | ENR. H. B. NO. 1805 Page 8 | |
602 | + | employed by the Senate or House of | |
322 | 603 | Representatives after January 1, 1989, may file | |
323 | 604 | an election, in a manner specified by the Board, | |
324 | 605 | to participate as a member of the System prior to | |
325 | 606 | September 1, 1989. | |
326 | - | ||
327 | 607 | (iii) Notwithstanding the provisions of division (i) of | |
328 | 608 | this subparagraph, a temporary legislative | |
329 | 609 | session employee who elected to become a member | |
330 | 610 | of the System may withdraw from the System | |
331 | 611 | effective the day such employee elected to | |
332 | 612 | participate in the System upon written request to | |
333 | 613 | the Board. Any such request mus t be received by | |
334 | 614 | the Board prior to October 1, 1990. All employee | |
335 | 615 | contributions made by the temporary legislative | |
336 | 616 | session employee shall be returned to the | |
337 | 617 | employee without interest within four (4) months | |
338 | 618 | of receipt of the written request. | |
339 | - | ||
340 | 619 | (iv) A member of the System who did not initially | |
341 | 620 | elect to participate as a member of the System | |
342 | 621 | pursuant to this subparagraph shall be able to | |
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343 | 649 | acquire service performed as a temporary | |
344 | 650 | legislative session employee for periods of | |
345 | 651 | service performed prior to the date upon w hich | |
346 | 652 | the person became a member of the System if: | |
347 | - | ||
348 | 653 | a. the member files an election with the System | |
349 | 654 | not later than December 31, 2000, to | |
350 | 655 | purchase the prior service; and | |
351 | - | ||
352 | 656 | b. the member makes payment to the System of | |
353 | 657 | the actuarial cost of the service credit | |
354 | 658 | pursuant to subsection A of Section 913.5 of | |
355 | 659 | this title. The provisions of Section 913.5 | |
356 | 660 | of this title shall be applicable to the | |
357 | 661 | purchase of the service credit, including | |
358 | 662 | the provisions for determining service | |
359 | 663 | credit in the event of incomplete payment | |
360 | 664 | due to cessation of payments, death, | |
361 | 665 | termination of employment or retirement, but | |
362 | 666 | the payment may extend for a period not to | |
363 | 667 | exceed ninety-six (96) months; | |
364 | - | RBH No. 7384 | |
365 | - | ENR. H. B. NO. 1805 Page 9 | |
366 | 668 | (15) "Entry date" means the date on which an eligible employer | |
367 | 669 | joins the System. The first entry date p ursuant to Section 901 et | |
368 | 670 | seq. of this title shall be January 1, 1964; | |
369 | 671 | ||
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370 | 698 | (16) "Executive Director" means the managing officer of the | |
371 | 699 | System employed by the Board under Section 901 et seq. of this | |
372 | 700 | title; | |
373 | - | ||
374 | 701 | (17) "Federal Internal Revenue Code " means the federal Internal | |
375 | 702 | Revenue Code of 1954 or 1986, as amended and as applicable to a | |
376 | 703 | governmental plan as in effect on July 1, 1999; | |
377 | - | ||
378 | 704 | (18) "Final average compensation " means the average annual | |
379 | 705 | compensation, including amounts deferred under deferred compensation | |
380 | 706 | agreements entered into between a member and a participating | |
381 | 707 | employer, up to, but not exceeding the maximum compensation levels | |
382 | 708 | as provided in paragraph (9) of this section received during the | |
383 | 709 | highest three (3) of the last ten (10) years of participating | |
384 | 710 | service immediately preceding retirement or termination of | |
385 | 711 | employment and with respect to members whose first participating | |
386 | 712 | service occurs on or after July 1, 2013, the compensation received | |
387 | 713 | during the highest five (5) of the last ten (10) years of | |
388 | 714 | participating service immediately preceding retirement or | |
389 | 715 | termination of employment. Provided, no member shall retire with a | |
390 | 716 | final average compensation un less the member has made the required | |
391 | 717 | contributions on such compensation, as defined by the Board of | |
392 | 718 | Trustees; | |
393 | - | ||
394 | 719 | (19) "Fiscal year" means the period commencing July 1 of any | |
395 | 720 | year and ending June 30 of the next year. The fiscal year is the | |
396 | 721 | plan year for purposes of the federal Internal Revenue Code; | |
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397 | 749 | however, the calendar year is the limitation year for purposes of | |
398 | 750 | Section 415 of the federal Internal Revenue Code; | |
399 | - | ||
400 | 751 | (20) "Fund" means the Oklahoma Public Employees Retirement Fund | |
401 | 752 | as created by Section 901 et se q. of this title; | |
402 | - | ||
403 | 753 | (21) "Leave of absence" means a period of absence from | |
404 | 754 | employment without pay, authorized and approved by the employer and | |
405 | 755 | acknowledged to the Board, and which after the effective date does | |
406 | 756 | not exceed two (2) years; | |
407 | - | ||
408 | 757 | (22) "Member" means an eligible employee or elected official | |
409 | 758 | who is in the System and is making the required employee or elected | |
410 | - | official contribution s, or any former employee or elec ted official RBH No. 7384 | |
411 | - | ENR. H. B. NO. 1805 Page 10 | |
759 | + | official contributions, or any former employee or elected official | |
412 | 760 | who shall have made the required contributions to the System and | |
413 | 761 | shall have not received a refund or withdrawal; | |
414 | - | ||
415 | 762 | (23) "Military service" means service in the Armed Forces of | |
416 | 763 | the United States by an honorably discharged person during the | |
417 | 764 | following time periods, as reflected on such person’s Defense | |
418 | 765 | Department Form 214, not to exceed five (5) years for combined | |
419 | 766 | participating and/or prior service, as follows: | |
420 | - | ||
421 | 767 | (a) during the following periods, incl uding the beginning | |
422 | 768 | and ending dates, and only for the periods served, | |
423 | 769 | from: | |
424 | - | ||
425 | 770 | (i) April 6, 1917, to November 11, 1918, commonly | |
426 | 771 | referred to as World War I, | |
427 | 772 | ||
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428 | 799 | (ii) September 16, 1940, to December 7, 1941, as a | |
429 | 800 | member of the 45th Division, | |
430 | - | ||
431 | 801 | (iii) December 7, 1941, to December 31, 1946, commonly | |
432 | 802 | referred to as World War II, | |
433 | - | ||
434 | 803 | (iv) June 27, 1950, to January 31, 1955, commonly | |
435 | 804 | referred to as the Korean Conflict or the Korean | |
436 | 805 | War, | |
437 | - | ||
438 | 806 | (v) February 28, 1961, to May 7, 1975, commonly | |
439 | 807 | referred to as the Vietnam era, except th at: | |
440 | - | ||
441 | 808 | a. for the period from February 28, 1961, to | |
442 | 809 | August 4, 1964, military service shall only | |
443 | 810 | include service in the Republic of Vietnam | |
444 | 811 | during that period, and | |
445 | - | ||
446 | 812 | b. for purposes of determining eligibility for | |
447 | 813 | education and training benefits, such period | |
448 | 814 | shall end on December 31, 1976, or | |
449 | - | ||
450 | 815 | (vi) August 1, 1990, to December 31, 1991, commonly | |
451 | 816 | referred to as the Gulf War, the Persian Gulf | |
452 | 817 | War, or Operation Desert Storm, but excluding any | |
453 | 818 | person who served on active duty for training | |
454 | 819 | only, unless discharged from su ch active duty for | |
455 | 820 | a service-connected disability; | |
456 | - | RBH No. 7384 | |
457 | - | ENR. H. B. NO. 1805 Page 11 | |
458 | 821 | (b) during a period of war or combat military operation | |
459 | 822 | other than a conflict, war or era li sted in | |
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460 | 850 | subparagraph (a) of this paragraph, beginning on the | |
461 | 851 | date of Congressional authorization, Congressional | |
462 | 852 | resolution, or Executive Order of the President of the | |
463 | 853 | United States, for the use of the Armed Forces of the | |
464 | 854 | United States in a war or combat military operation, | |
465 | 855 | if such war or combat military operation lasted for a | |
466 | 856 | period of ninety (90) days or more, for a person who | |
467 | 857 | served, and only for the period served, in the area of | |
468 | 858 | responsibility of the war or combat military | |
469 | 859 | operation, but excluding a pers on who served on active | |
470 | 860 | duty for training only, unless discharged from such | |
471 | 861 | active duty for a service -connected disability, and | |
472 | 862 | provided that the burden of proof of military service | |
473 | 863 | during this period shall be with the member, who must | |
474 | 864 | present appropriate documentation establishing such | |
475 | 865 | service. | |
476 | - | ||
477 | 866 | An eligible member under this paragraph shall include only those | |
478 | 867 | persons who shall have served during the times or in the areas | |
479 | 868 | prescribed in this paragraph, and only if such person provides | |
480 | 869 | appropriate documentatio n in such time and manner as required by the | |
481 | 870 | System to establish such military service prescribed in this | |
482 | 871 | paragraph, or for service pursuant to subdivision a of division (v) | |
483 | 872 | of subparagraph (a) of this paragraph those persons who were awarded | |
484 | 873 | service medals, as authorized by the United States Department of | |
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485 | 901 | Defense as reflected in the veteran’s Defense Department Form 214, | |
486 | 902 | related to the Vietnam Conflict for service prior to August 5, 1964; | |
487 | - | ||
488 | 903 | (24) "Normal retirement date " means the date on which a member | |
489 | 904 | may retire with full retirement benefits as provided in Section 901 | |
490 | 905 | et seq. of this title, such date being whichever occurs first: | |
491 | - | ||
492 | 906 | (a) the first day of the month coinciding with or | |
493 | 907 | following a member’s: | |
494 | - | ||
495 | 908 | (1) sixty-second birthday with respect to members | |
496 | 909 | whose first participating service occurs prior to | |
497 | 910 | November 1, 2011, or | |
498 | - | ||
499 | 911 | (2) sixty-fifth birthday with respect to members | |
500 | 912 | whose first participating service occurs on or | |
501 | 913 | after November 1, 2011, or with respect to | |
502 | - | members whose first participating service occurs RBH No. 7384 | |
503 | - | ENR. H. B. NO. 1805 Page 12 | |
914 | + | members whose first participating service occurs | |
504 | 915 | on or after November 1, 2011, who reach a minimum | |
505 | 916 | age of sixty (60) years and who also reach a | |
506 | 917 | normal retirement date pursuant to subparagraph c | |
507 | 918 | of this paragraph, | |
508 | - | ||
509 | 919 | (b) for any person who initially became a member prior to | |
510 | 920 | July 1, 1992, and who does not reach a normal | |
511 | 921 | retirement date pursuant to division (1) of | |
512 | 922 | subparagraph (a) of this paragraph, the first day of | |
513 | 923 | the month coinciding with or following the date at | |
514 | 924 | which the sum of a member’s age and number of years of | |
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515 | 952 | credited service total eighty (80); such a no rmal | |
516 | 953 | retirement date will also apply to any person who | |
517 | 954 | became a member of the sending system as defined in | |
518 | 955 | Section 901 et seq. of this title, prior to July 1, | |
519 | 956 | 1992, regardless of whether there were breaks in | |
520 | 957 | service after July 1, 1992, | |
521 | - | ||
522 | 958 | (c) for any person who became a member after June 30, | |
523 | 959 | 1992, but prior to November 1, 2011, and who does not | |
524 | 960 | reach a normal retirement date pursuant to division | |
525 | 961 | (1) of subparagraph (a) of this paragraph, the first | |
526 | 962 | day of the month coinciding with or following the date | |
527 | 963 | at which the sum of a member’s age and number of years | |
528 | 964 | of credited service total ninety (90), | |
529 | - | ||
530 | 965 | (d) in addition to subparag raphs (a), (b) and (c) of this | |
531 | 966 | paragraph, the first day of the month coinciding with | |
532 | 967 | or following a member’s completion of at least twenty | |
533 | 968 | (20) years of full-time-equivalent employment as: | |
534 | - | ||
535 | 969 | (i) a correctional or probation and parole officer | |
536 | 970 | with the Department of Corrections and at the | |
537 | 971 | time of retirement, the member was a correctional | |
538 | 972 | or probation and parole officer with the | |
539 | 973 | Department of Correcti ons, | |
540 | - | ||
541 | 974 | (ii) a correctional officer, probation and parole | |
542 | 975 | officer or fugitive apprehension agent with the | |
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543 | 1003 | Department of Corrections who is in such position | |
544 | 1004 | on June 30, 2004, or who is hired after June 30, | |
545 | 1005 | 2004, and who receives a promotion or change in | |
546 | 1006 | job classification after June 30, 2004, to | |
547 | 1007 | another position in the Department of | |
548 | - | Corrections, so long as such officer or agent has RBH No. 7384 | |
549 | - | ENR. H. B. NO. 1805 Page 13 | |
1008 | + | Corrections, so long as such officer o r agent has | |
550 | 1009 | at least five (5) years of service as a | |
551 | 1010 | correctional officer, probation and parole | |
552 | 1011 | officer or fugitive apprehension agent with the | |
553 | 1012 | Department, has twenty (20) years of full -time- | |
554 | 1013 | equivalent employment with the Department and was | |
555 | 1014 | employed by the Department at the time of | |
556 | 1015 | retirement, | |
557 | - | ||
558 | 1016 | (iii) a firefighter with the Military Department of the | |
559 | 1017 | State of Oklahoma either employed for the first | |
560 | 1018 | time on or after July 1, 2002, or who was | |
561 | 1019 | employed prior to July 1, 2002, in such position | |
562 | 1020 | and who makes the elect ion authorized by division | |
563 | 1021 | (2) of subparagraph b of paragraph (9) of | |
564 | 1022 | subsection A of Section 915 of this title and at | |
565 | 1023 | the time of retirement, t he member was a | |
566 | 1024 | firefighter with the Military Department of the | |
567 | 1025 | State of Oklahoma, and such member has at least | |
568 | 1026 | twenty (20) years of credited service upon which | |
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569 | 1054 | the two and one-half percent (2 1/2%) multiplier | |
570 | 1055 | will be used in calculating the retirement | |
571 | 1056 | benefit, | |
572 | - | ||
573 | 1057 | (iv) a public safety officer employed by the Grand | |
574 | 1058 | River Dam Authority for the first time on or | |
575 | 1059 | after July 1, 2016, or | |
576 | - | ||
577 | 1060 | (v) a deputy sheriff or jailer employed by any county | |
578 | 1061 | that is a participating employer in the System | |
579 | 1062 | for the first time as a deputy sheriff or jailer | |
580 | 1063 | on or after November 1, 2020, or | |
581 | - | ||
582 | 1064 | (vi) licensed emergency medical personnel, as defined | |
583 | 1065 | pursuant to Section 1-2503 of Title 63 of the | |
584 | 1066 | Oklahoma Statutes, holding a license issued by | |
585 | 1067 | the State Department of Health pursuant to | |
586 | 1068 | Section 1-2505 of Title 63 of the Oklahoma | |
587 | 1069 | Statutes, including emergency medical responders, | |
588 | 1070 | emergency medical technicians, int ermediate | |
589 | 1071 | emergency medical technicians, advanced emergency | |
590 | 1072 | medical technicians, and paramedics employed by | |
591 | 1073 | any participating employer as a lic ensed | |
592 | 1074 | emergency medical personnel for the first time on | |
593 | 1075 | or after the effective date of this act, | |
594 | - | RBH No. 7384 | |
595 | - | ENR. H. B. NO. 1805 Page 14 | |
596 | 1076 | (e) for those fugitive apprehension agents who retire on | |
597 | 1077 | or after July 1, 2002, the first day of the month | |
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1099 | + | 20 | |
1100 | + | 21 | |
1101 | + | 22 | |
1102 | + | 23 | |
1103 | + | 24 | |
1104 | + | ||
598 | 1105 | coinciding with or following a member’s completion of | |
599 | 1106 | at least twenty (20) years of full -time-equivalent | |
600 | 1107 | employment as a fugitive apprehension agent with the | |
601 | 1108 | Department of Corrections and at the time of | |
602 | 1109 | retirement, the member was a fugitive apprehension | |
603 | 1110 | agent with the Department of Corrections, or | |
604 | - | ||
605 | 1111 | (f) for any member who was continuously employed by an | |
606 | 1112 | entity or institution within The Oklahoma State System | |
607 | 1113 | of Higher Education and whose initial employment with | |
608 | 1114 | such entity or institution was prior to July 1, 1992, | |
609 | 1115 | and who without a break in service of more than thirty | |
610 | 1116 | (30) days became employed by an employer participating | |
611 | 1117 | in the Oklahoma Public Employees Retirement System , | |
612 | 1118 | the first day of the month coinciding with or | |
613 | 1119 | following the date at which the sum of the member’s | |
614 | 1120 | age and number of years of credited service total | |
615 | 1121 | eighty (80); | |
616 | - | ||
617 | 1122 | (25) "Participating employer " means an eligible employer who | |
618 | 1123 | has agreed to make contribution s to the System on behalf of its | |
619 | 1124 | employees; | |
620 | - | ||
621 | 1125 | (26) "Participating service " means the period of employment | |
622 | 1126 | after the entry date for which credit is granted a member. | |
623 | 1127 | Provided, on or after the effective date of this act, military | |
624 | 1128 | service credit purchased und er Section 913.8 of this title shall | |
1129 | + | ||
1130 | + | SENATE FLOOR VERSION - HB1805 SFLR Page 23 | |
1131 | + | (Bold face denotes Committee Amendments) 1 | |
1132 | + | 2 | |
1133 | + | 3 | |
1134 | + | 4 | |
1135 | + | 5 | |
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1154 | + | 24 | |
1155 | + | ||
625 | 1156 | only be considered "participating service " if such service is | |
626 | 1157 | immediately preceded by a period of employme nt with a participating | |
627 | 1158 | employer and followed by a return to service as an employee with the | |
628 | 1159 | same or another part icipating employer within ninety (90) days | |
629 | 1160 | immediately following discharge from such military service; | |
630 | - | ||
631 | 1161 | (27) "Prior service" means the period of employment of a member | |
632 | 1162 | by an eligible employer prior to the member’s entry date for which | |
633 | 1163 | credit is granted a m ember under Section 901 et seq. of this title. | |
634 | 1164 | Provided, on or after the effective date of this act, "prior | |
635 | 1165 | service" shall also include servic e purchased under Section 913.8 of | |
636 | 1166 | this title which does not meet the requirements of paragraph 26 of | |
637 | 1167 | this section; | |
638 | - | ||
639 | 1168 | (28) "Retirant" or "retiree" means a member who has retired | |
640 | - | under the System; RBH No. 7384 | |
641 | - | ENR. H. B. NO. 1805 Page 15 | |
642 | - | ||
1169 | + | under the System; | |
643 | 1170 | (29) "Retirement benefit" means a monthly income with benefits | |
644 | 1171 | accruing from the first day of the month coinciding with or | |
645 | 1172 | following retirement and ending on the last day of the month in | |
646 | 1173 | which death occurs or the actuarial equivalent thereof paid in such | |
647 | 1174 | manner as specified by the member pursuant to Section 901 et seq. of | |
648 | 1175 | this title or as otherwise allowed to be paid at the discretion of | |
649 | 1176 | the Board; | |
650 | - | ||
651 | 1177 | (30) "Retirement coordinat or" means the individual designated | |
652 | 1178 | by each participating employer through whom System transactions and | |
653 | 1179 | communication shall be directed; | |
654 | 1180 | ||
1181 | + | SENATE FLOOR VERSION - HB1805 SFLR Page 24 | |
1182 | + | (Bold face denotes Committee Amendments) 1 | |
1183 | + | 2 | |
1184 | + | 3 | |
1185 | + | 4 | |
1186 | + | 5 | |
1187 | + | 6 | |
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1204 | + | 23 | |
1205 | + | 24 | |
1206 | + | ||
655 | 1207 | (31) "Social Security" means the old-age survivors and | |
656 | 1208 | disability section of the federal Social Security Act; | |
657 | - | ||
658 | 1209 | (32) "Total disability" means a physical or mental disability | |
659 | 1210 | accepted for disability benefits by the federal Social Security | |
660 | 1211 | System; | |
661 | - | ||
662 | 1212 | (33) "Service-connected disability benefits " means military | |
663 | 1213 | service benefits which are for a service -connected disability rated | |
664 | 1214 | at twenty percent (20%) or more by the Veterans Administration or | |
665 | 1215 | the Armed Forces of the United States; | |
666 | - | ||
667 | 1216 | (34) "Elected official" means a person elected to a state | |
668 | 1217 | office in the legislative or executive branch of state government or | |
669 | 1218 | a person elected to a c ounty office for a definite number of years | |
670 | 1219 | and shall include an individual who is appointed to fill the | |
671 | 1220 | unexpired term of an elected state off icial; | |
672 | - | ||
673 | 1221 | (35) "Elected service" means the period of service as an | |
674 | 1222 | elected official; | |
675 | - | ||
676 | 1223 | (36) "Limitation year" means the year used in applying the | |
677 | 1224 | limitations of Section 415 of the Internal Revenue Code of 1986, | |
678 | 1225 | which year shall be the calendar year; and | |
679 | - | ||
680 | 1226 | (37) "Public safety officers of the Grand River Dam Authority " | |
681 | 1227 | means those persons hired by the Grand River Dam Autho rity on or | |
682 | 1228 | after March 21, 2001, who are certified by the Council on Law | |
683 | 1229 | Enforcement Education and Training or an equivalent certifying | |
684 | 1230 | entity for law enforcement personnel training and who perform law | |
1231 | + | ||
1232 | + | SENATE FLOOR VERSION - HB1805 SFLR Page 25 | |
1233 | + | (Bold face denotes Committee Amendments) 1 | |
1234 | + | 2 | |
1235 | + | 3 | |
1236 | + | 4 | |
1237 | + | 5 | |
1238 | + | 6 | |
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1256 | + | 24 | |
1257 | + | ||
685 | 1258 | enforcement functions as part of their regularly assig ned duties and | |
686 | - | responsibilities on a full-time basis. With respect to any public RBH No. 7384 | |
687 | - | ENR. H. B. NO. 1805 Page 16 | |
1259 | + | responsibilities on a full -time basis. With respect to any public | |
688 | 1260 | safety officer hired by the Grand River Dam Authority on or after | |
689 | 1261 | March 21, 2001, any earned benefits or credits toward retirement | |
690 | 1262 | benefits from previous participation within the Oklahoma Public | |
691 | 1263 | Employees Retirement System or the Oklahoma Law Enforcement | |
692 | 1264 | Retirement System shall remain within that system. | |
693 | - | ||
694 | 1265 | SECTION 2. AMENDATORY 74 O.S. 2021, Section 915, is | |
695 | 1266 | amended to read as follows: | |
696 | - | ||
697 | 1267 | Section 915. A. (1) Except as otherwise provided in this | |
698 | 1268 | subsection and as provided for elected officials in Section 913.4 of | |
699 | 1269 | this title, any member who shall retire on or after the member's | |
700 | 1270 | normal retirement date shall be entitled to receive an annual | |
701 | 1271 | retirement benefit equal to two percent (2%) of the member's final | |
702 | 1272 | average compensation as determined pursuant to paragraph (18) of | |
703 | 1273 | Section 902 of this title, mu ltiplied by the number of years of | |
704 | 1274 | credited service that has been credited to the member in accordance | |
705 | 1275 | with the provisions of Section 913 of this title other than years | |
706 | 1276 | credited pursuant to paragraph (2) of this subsection. | |
707 | - | ||
708 | 1277 | (2) Effective January 1, 2004, except as otherwise provided for | |
709 | 1278 | elected officials in Section 913.4 of this title and except for | |
710 | 1279 | those members making contributions pursuant to paragraphs (c), (d), | |
711 | 1280 | (e) and, (f), (g), and (h) of subsection (1) of Section 919.1 of | |
712 | 1281 | this title, any member who shall retire shall be entitled to receive | |
1282 | + | ||
1283 | + | SENATE FLOOR VERSION - HB1805 SFLR Page 26 | |
1284 | + | (Bold face denotes Committee Amendments) 1 | |
1285 | + | 2 | |
1286 | + | 3 | |
1287 | + | 4 | |
1288 | + | 5 | |
1289 | + | 6 | |
1290 | + | 7 | |
1291 | + | 8 | |
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1295 | + | 12 | |
1296 | + | 13 | |
1297 | + | 14 | |
1298 | + | 15 | |
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1300 | + | 17 | |
1301 | + | 18 | |
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1307 | + | 24 | |
1308 | + | ||
713 | 1309 | an annual retirement benefit equal to two and one -half percent (2 | |
714 | 1310 | 1/2%) of the member's final average compensation as determined | |
715 | 1311 | pursuant to paragraph (18) of Section 902 of this title, multiplied | |
716 | 1312 | by the number of full years of participating service after January | |
717 | 1313 | 1, 2004, that have been credited to the member in accordance w ith | |
718 | 1314 | the provisions of Section 913 of this title and only for those full | |
719 | 1315 | years of participating service for which contributions have been | |
720 | 1316 | made pursuant to paragraph (g) of subsection (1) of Section 919.1 of | |
721 | 1317 | this title. The two and one -half percent (2 1/2%) multiplier shall | |
722 | 1318 | not apply to purchased service, purchased or granted military | |
723 | 1319 | service or transferred service. In order to receive the two and | |
724 | 1320 | one-half percent (2 1/2%) multiplier in computing retirement | |
725 | 1321 | benefits, an active member shall make an irrevocab le written | |
726 | 1322 | election to pay the contributions pursuant to paragraph (g) of | |
727 | 1323 | subsection (1) of Section 919.1 of this title. The two and one -half | |
728 | 1324 | percent (2 1/2%) multiplier pursuant to this paragraph shall not | |
729 | 1325 | apply to additional years of service credit attr ibuted to sick leave | |
730 | 1326 | pursuant to paragraph 7 of subsection B of Section 913 of this title | |
731 | - | and fractional years pur suant to subsection C of Section 913 of this RBH No. 7384 | |
732 | - | ENR. H. B. NO. 1805 Page 17 | |
1327 | + | and fractional years pursuant to subsection C of Section 913 of this | |
733 | 1328 | title and shall be attributable only to the participating service | |
734 | 1329 | credited after the election of the member. | |
735 | - | ||
736 | 1330 | (3) The minimum final average compensation for any person who | |
737 | 1331 | becomes a member of the Oklahoma Public Employees Retirement System | |
738 | 1332 | on or after July 1, 1995 , and who had: | |
1333 | + | ||
1334 | + | SENATE FLOOR VERSION - HB1805 SFLR Page 27 | |
1335 | + | (Bold face denotes Committee Amendments) 1 | |
1336 | + | 2 | |
1337 | + | 3 | |
1338 | + | 4 | |
1339 | + | 5 | |
1340 | + | 6 | |
1341 | + | 7 | |
1342 | + | 8 | |
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739 | 1359 | ||
740 | 1360 | a. and who had twenty (20) or more years of credited | |
741 | 1361 | service within the Sy stem as of the member's | |
742 | 1362 | retirement date shall be no less than Thirteen | |
743 | 1363 | Thousand Eight Hundred Dollars ($13,800.00) per annum, | |
744 | - | ||
745 | 1364 | b. and who had at least fifteen (15) but not more than | |
746 | 1365 | nineteen (19) years of credited service within the | |
747 | 1366 | System as of the member' s retirement date shall be no | |
748 | 1367 | less than Six Thousand Nine Hundred Dollars | |
749 | 1368 | ($6,900.00) per annum, or | |
750 | - | ||
751 | 1369 | c. and who had less than fifteen (15) years of credited | |
752 | 1370 | service within the System as of the member's | |
753 | 1371 | retirement date shall not be eligible for any minimum | |
754 | 1372 | amount of final average compensation and the member's | |
755 | 1373 | final average compensation shall be the final average | |
756 | 1374 | compensation as defined by paragraph (18) of Section | |
757 | 1375 | 902 of this title. | |
758 | - | ||
759 | 1376 | (4) Provided, further, any member who has elected a vested | |
760 | 1377 | benefit pursuant to Section 917 of this title shall be entitled to | |
761 | 1378 | receive benefits as outlined in this section except the percent | |
762 | 1379 | factor and the member's maxim um compensation level in effect the | |
763 | 1380 | date the member's employment was terminated with a participating | |
764 | 1381 | employer shall be applicable. | |
765 | - | ||
766 | 1382 | (5) Any member who is a correctional officer or a probation and | |
767 | 1383 | parole officer employed by the Department of Corrections at the time | |
1384 | + | ||
1385 | + | SENATE FLOOR VERSION - HB1805 SFLR Page 28 | |
1386 | + | (Bold face denotes Committee Amendments) 1 | |
1387 | + | 2 | |
1388 | + | 3 | |
1389 | + | 4 | |
1390 | + | 5 | |
1391 | + | 6 | |
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1410 | + | ||
768 | 1411 | of retirement and who retires on or before June 30, 2000, shall be | |
769 | 1412 | entitled to receive an annual retirem ent benefit equal to two and | |
770 | 1413 | one-half percent (2 1/2%) of the final average compensation of the | |
771 | 1414 | member not to exceed Twenty -five Thousand Dollars ($25,000.00) and | |
772 | 1415 | two percent (2%) of the final average salary in excess of Twenty - | |
773 | 1416 | five Thousand Dollars ($25,0 00.00) but not exceeding the maximum | |
774 | 1417 | compensation level as provided in paragraph (9) of Section 902 of | |
775 | 1418 | this title, multiplied by the number of years of service as a | |
776 | 1419 | correctional officer or a probation and parole officer; provided, | |
777 | - | any years accrued prior to July 1, 1990, a s a correctional officer RBH No. 7384 | |
778 | - | ENR. H. B. NO. 1805 Page 18 | |
1420 | + | any years accrued prior t o July 1, 1990, as a correctional officer | |
779 | 1421 | or a probation and parole officer by a member who is employed as a | |
780 | 1422 | correctional officer or a probatio n and parole officer on July 1, | |
781 | 1423 | 1990, shall be calculated for retirement purposes at two and one - | |
782 | 1424 | quarter percent (2 1/4%) of the final average compensation of the | |
783 | 1425 | member not to exceed Twenty -five Thousand Dollars ($25,000.00) and | |
784 | 1426 | two percent (2%) of the final average salary in excess of Twenty - | |
785 | 1427 | five Thousand Dollars ($25,000.00) but not exceeding the maximum | |
786 | 1428 | compensation level as provided in paragraph (9) of Section 902 of | |
787 | 1429 | this title, multiplied by the number of years of such service and | |
788 | 1430 | any years in excess of twenty (20) years as such an officer or years | |
789 | 1431 | credited to the member in accordance with the provisions of Sect ion | |
790 | 1432 | 913 of this title shall be calculated for retirement purposes at two | |
791 | 1433 | percent (2%) of the final average compensation of the member | |
792 | 1434 | multiplied by the number of years of such service. Any person who | |
1435 | + | ||
1436 | + | SENATE FLOOR VERSION - HB1805 SFLR Page 29 | |
1437 | + | (Bold face denotes Committee Amendments) 1 | |
1438 | + | 2 | |
1439 | + | 3 | |
1440 | + | 4 | |
1441 | + | 5 | |
1442 | + | 6 | |
1443 | + | 7 | |
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1460 | + | 24 | |
1461 | + | ||
793 | 1462 | contributes to the System as a correctional officer or a probation | |
794 | 1463 | and parole officer as provided in paragraph (b) or (c) of subsection | |
795 | 1464 | (1) of Section 919.1 of this title, on or before June 30, 2000 , but | |
796 | 1465 | who does not make such contributions after June 30, 2000, and who | |
797 | 1466 | does not qualify for normal retirement un der subparagraph (c) of | |
798 | 1467 | paragraph (24) of Section 902 of this title shall have retirement | |
799 | 1468 | benefits for each year of full -time-equivalent participating service | |
800 | 1469 | as a correctional or a probation and parole officer after July 1, | |
801 | 1470 | 1990, computed on two and one -half percent (2 1/2%) of the final | |
802 | 1471 | average compensation based upon those years as a correctional | |
803 | 1472 | officer or a probation and parole officer. Pro vided, further, any | |
804 | 1473 | fugitive apprehension agent shall be entitled to receive benefits as | |
805 | 1474 | outlined in this act Section 901 et seq. of this title for service | |
806 | 1475 | as a fugitive apprehension agent prior to July 1, 2002, only upon | |
807 | 1476 | payment to the System of the employee contributions which would have | |
808 | 1477 | been paid if such fugitive apprehension agent had been covered by | |
809 | 1478 | this section prior to the effective date of this act July 1, 2002, | |
810 | 1479 | plus interest of not to exceed ten percent (10%) as determined by | |
811 | 1480 | the Oklahoma Public Employees Retirement Board of Trustees. The | |
812 | 1481 | Department of Corrections may make the employee contribution and | |
813 | 1482 | interest payment on behalf of such member. | |
814 | - | ||
815 | 1483 | (6) Any member who is a correctional officer, a probation and | |
816 | 1484 | parole officer or a fugitive apprehension agent employed by the | |
817 | 1485 | Department of Corrections at the time of retirement and who retires | |
1486 | + | ||
1487 | + | SENATE FLOOR VERSION - HB1805 SFLR Page 30 | |
1488 | + | (Bold face denotes Committee Amendments) 1 | |
1489 | + | 2 | |
1490 | + | 3 | |
1491 | + | 4 | |
1492 | + | 5 | |
1493 | + | 6 | |
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1512 | + | ||
818 | 1513 | on or after July 1, 200 2, shall be entitled to receive an annual | |
819 | 1514 | retirement benefit equal to two and one -half percent (2 1/2%) of the | |
820 | 1515 | final average compensation of th e member, but not exceeding the | |
821 | 1516 | maximum compensation level as provided in paragraph (18) of Section | |
822 | 1517 | 902 of this title, multiplied by the number of years of service as a | |
823 | - | correctional officer, a probation and parole officer or a fugitive RBH No. 7384 | |
824 | - | ENR. H. B. NO. 1805 Page 19 | |
1518 | + | correctional officer, a probation and parole officer or a fugitive | |
825 | 1519 | apprehension agent, and any years in excess of twenty (20) years as | |
826 | 1520 | such an officer or agent, or years credited to the member in | |
827 | 1521 | accordance with the provisions of Section 913 of this title, shall | |
828 | 1522 | be calculated for retirement purposes at two percent (2%) of the | |
829 | 1523 | final average compensation of the member multiplied by the number of | |
830 | 1524 | years of such service. For purposes of this paragraph, "final | |
831 | 1525 | average compensation " shall be determined by computing the average | |
832 | 1526 | annual salary, in the manner prescribed by paragraph (18) of Section | |
833 | 1527 | 902 of this title, for the highest three (3) years of the last ten | |
834 | 1528 | (10) years of participating service immediately p receding retirement | |
835 | 1529 | or termination of employment for all years of service performed by | |
836 | 1530 | such member, both for years of service performed as a co rrectional | |
837 | 1531 | officer, probation and parole officer or fugitive apprehension | |
838 | 1532 | agent, not in excess of twenty (20) yea rs, and for years of service | |
839 | 1533 | performed in excess of twenty (20) years, whether as a correctional | |
840 | 1534 | officer, probation and parole officer, fugitive apprehension agent | |
841 | 1535 | or other position unless the computation of benefits would result in | |
842 | 1536 | a lower retirement bene fit amount than if final average compensation | |
1537 | + | ||
1538 | + | SENATE FLOOR VERSION - HB1805 SFLR Page 31 | |
1539 | + | (Bold face denotes Committee Amendments) 1 | |
1540 | + | 2 | |
1541 | + | 3 | |
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1563 | + | ||
843 | 1564 | were to be computed as otherwise provided by this paragraph. "Final | |
844 | 1565 | average compensation " Final average compensation shall be determined | |
845 | 1566 | by computing the average annual salary for the highest five (5) of | |
846 | 1567 | the last ten (10) years of participating service immediately | |
847 | 1568 | preceding retirement or termination of employment, with respect to | |
848 | 1569 | members whose first participating service occurs on or after July 1, | |
849 | 1570 | 2013. | |
850 | - | ||
851 | 1571 | (7) Any member who is a correctional officer, a probation and | |
852 | 1572 | parole officer or a fugitive apprehension agent who has at least | |
853 | 1573 | five (5) years of service as a correctional officer, a probation and | |
854 | 1574 | parole officer or a fugitive apprehension agent who is in such | |
855 | 1575 | position on June 30, 2004, or who is hired after June 30, 2004, in | |
856 | 1576 | such position, and who receives a promotion or change in job | |
857 | 1577 | classification after June 30, 2004, to another position in the | |
858 | 1578 | Department of Corrections, and who is employed by the Department of | |
859 | 1579 | Corrections at the time of retirement and who retir es on or after | |
860 | 1580 | July 1, 2004, shall be entitled to receive an annual retirement | |
861 | 1581 | benefit equal to two and one -half percent (2 1/2%) of the final | |
862 | 1582 | average compensation of the member, but not exceeding the maximum | |
863 | 1583 | compensation level as provided in paragraph (18 ) of Section 902 of | |
864 | 1584 | this title, multiplied by the number of years of service with the | |
865 | 1585 | Department of Corrections and any years in excess of twenty (20) | |
866 | 1586 | years with the Department or years credited to the member in | |
867 | 1587 | accordance with the provisions of Section 91 3 of this title, shall | |
1588 | + | ||
1589 | + | SENATE FLOOR VERSION - HB1805 SFLR Page 32 | |
1590 | + | (Bold face denotes Committee Amendments) 1 | |
1591 | + | 2 | |
1592 | + | 3 | |
1593 | + | 4 | |
1594 | + | 5 | |
1595 | + | 6 | |
1596 | + | 7 | |
1597 | + | 8 | |
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1608 | + | 19 | |
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1610 | + | 21 | |
1611 | + | 22 | |
1612 | + | 23 | |
1613 | + | 24 | |
1614 | + | ||
868 | 1615 | be calculated for retirement purposes at two percent (2%) of the | |
869 | - | final average compensation of the member multiplied by the number of RBH No. 7384 | |
870 | - | ENR. H. B. NO. 1805 Page 20 | |
1616 | + | final average compensation of the member multiplied by the number of | |
871 | 1617 | years of such service. For purposes of this paragraph, "final | |
872 | 1618 | average compensation " shall be determined by computing the average | |
873 | 1619 | annual salary, in the manner prescribed by paragraph (18) of Section | |
874 | 1620 | 902 of this title, for the highest three (3) years of the last ten | |
875 | 1621 | (10) years of participating service immediately preceding retirement | |
876 | 1622 | or termination of em ployment for all years of service performed by | |
877 | 1623 | such member with the Department. "Final average compensation " Final | |
878 | 1624 | average compensation shall be determined by computing the average | |
879 | 1625 | annual salary for the highest five (5) of the last ten (10) years of | |
880 | 1626 | participating service immediately preceding retirement or | |
881 | 1627 | termination of employment, with respect to members whose first | |
882 | 1628 | participating service occurs on or after July 1, 2013. | |
883 | - | ||
884 | 1629 | (8) Any person who contributed to the System as a correctional | |
885 | 1630 | officer, a probation and parole officer or a fugitive apprehension | |
886 | 1631 | agent as provided in paragraph (b) or (c) of subsection (1) of | |
887 | 1632 | Section 919.1 of this title, and w ho retires under normal retirement | |
888 | 1633 | or early retirement on or after January 1, 2004, under paragraph | |
889 | 1634 | (24) of Section 902 of this title, and any public safety officer | |
890 | 1635 | described by paragraph (37) of Section 902 of this title hired on or | |
891 | 1636 | after the effective date of this act July 1, 2016, by the Grand | |
892 | 1637 | River Dam Authority and who retires on or after the effective date | |
893 | 1638 | of this act July 1, 2016, shall have retirement benefits for each | |
1639 | + | ||
1640 | + | SENATE FLOOR VERSION - HB1805 SFLR Page 33 | |
1641 | + | (Bold face denotes Committee Amendments) 1 | |
1642 | + | 2 | |
1643 | + | 3 | |
1644 | + | 4 | |
1645 | + | 5 | |
1646 | + | 6 | |
1647 | + | 7 | |
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1658 | + | 18 | |
1659 | + | 19 | |
1660 | + | 20 | |
1661 | + | 21 | |
1662 | + | 22 | |
1663 | + | 23 | |
1664 | + | 24 | |
1665 | + | ||
894 | 1666 | year of full-time-equivalent participating service as a correctional | |
895 | 1667 | officer, a probation and parole officer or a fugitive apprehension | |
896 | 1668 | agent, or Grand River Dam public safety officer computed o n two and | |
897 | 1669 | one-half percent (2 1/2%) of the final average compensation based | |
898 | 1670 | upon those years as a correctional officer, a probation and parole | |
899 | 1671 | officer, a fugitive apprehension agent or a Grand River Dam public | |
900 | 1672 | safety officer. For purposes of this paragrap h, "final average | |
901 | 1673 | compensation" shall be determined by computing the average annual | |
902 | 1674 | salary, in the manner prescribed by paragraph (18) of Secti on 902 of | |
903 | 1675 | this title, for the highest three (3) years of the last ten (10) | |
904 | 1676 | years of participating service immedia tely preceding retirement or | |
905 | 1677 | termination of employment for all years of service performed by such | |
906 | 1678 | member, both for years of service performed as a correctional | |
907 | 1679 | officer, probation and parole officer or fugitive apprehension | |
908 | 1680 | agent, or years of service perfor med as a Grand River Dam public | |
909 | 1681 | safety officer, not in excess of twenty (20) years, and for years of | |
910 | 1682 | service performed in excess of twenty (20) years, whether as a | |
911 | 1683 | correctional officer, probation and parole officer, fugitive | |
912 | 1684 | apprehension agent, Grand River Dam public safety officer, or other | |
913 | 1685 | position unless the computation of benefits would result in a lower | |
914 | 1686 | retirement benefit amount than if final average compensation were to | |
915 | - | be computed as otherwise p rovided by this paragraph. "Final average RBH No. 7384 | |
916 | - | ENR. H. B. NO. 1805 Page 21 | |
1687 | + | be computed as otherwise provided by this paragraph. "Final average | |
917 | 1688 | compensation" Final average compensation shall be determined by | |
918 | 1689 | computing the average annual salary for the highest five (5) of the | |
1690 | + | ||
1691 | + | SENATE FLOOR VERSION - HB1805 SFLR Page 34 | |
1692 | + | (Bold face denotes Committee Amendments) 1 | |
1693 | + | 2 | |
1694 | + | 3 | |
1695 | + | 4 | |
1696 | + | 5 | |
1697 | + | 6 | |
1698 | + | 7 | |
1699 | + | 8 | |
1700 | + | 9 | |
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1714 | + | 23 | |
1715 | + | 24 | |
1716 | + | ||
919 | 1717 | last ten (10) years of p articipating service immediately preceding | |
920 | 1718 | retirement or termination of employment, with respect to members | |
921 | 1719 | whose first participating service occurs on or after July 1, 2013, | |
922 | 1720 | or with respect to Grand River Dam public safety officers whose | |
923 | 1721 | first participating service occurs on or after the effective date of | |
924 | 1722 | this act July 1, 2016. | |
925 | - | ||
926 | 1723 | (9) Any member who is: | |
927 | - | ||
928 | 1724 | a. initially on or after July 1, 2002, employed as a | |
929 | 1725 | firefighter for the Oklahoma Military Department of | |
930 | 1726 | the State of Oklahoma and who retires on or after th e | |
931 | 1727 | member's normal retirement date shall be entitled to | |
932 | 1728 | receive an annual retirement benefit equal to two and | |
933 | 1729 | one-half percent (2 1/2%) of the final average | |
934 | 1730 | compensation of the member multiplied by the number of | |
935 | 1731 | years of service in such service, | |
936 | - | ||
937 | 1732 | b. (1) a firefighter who performs firefighting services | |
938 | 1733 | for the Oklahoma Military Department of the State | |
939 | 1734 | of Oklahoma prior to July 1, 2002, and who makes | |
940 | 1735 | an election in writing on a form prescribed for | |
941 | 1736 | this purpose by the System not later than | |
942 | 1737 | December 31, 2002, sha ll be entitled to receive a | |
943 | 1738 | retirement benefit based upon two and one -half | |
944 | 1739 | percent (2 1/2%) of the final average | |
945 | 1740 | compensation of the member multiplied by the | |
1741 | + | ||
1742 | + | SENATE FLOOR VERSION - HB1805 SFLR Page 35 | |
1743 | + | (Bold face denotes Committee Amendments) 1 | |
1744 | + | 2 | |
1745 | + | 3 | |
1746 | + | 4 | |
1747 | + | 5 | |
1748 | + | 6 | |
1749 | + | 7 | |
1750 | + | 8 | |
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1760 | + | 18 | |
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1762 | + | 20 | |
1763 | + | 21 | |
1764 | + | 22 | |
1765 | + | 23 | |
1766 | + | 24 | |
1767 | + | ||
946 | 1768 | number of years of service as a firefighter with | |
947 | 1769 | the Oklahoma Military Department of the State of | |
948 | 1770 | Oklahoma on or after July 1, 2002. The election | |
949 | 1771 | authorized by this subdivision shall be | |
950 | 1772 | irrevocable once the ele ction is filed with the | |
951 | 1773 | System, | |
952 | - | ||
953 | 1774 | (2) a firefighter who performs firefighting services | |
954 | 1775 | for the Oklahoma Military Department of the State | |
955 | 1776 | of Oklahoma prior to July 1, 2002, and who makes | |
956 | 1777 | the election in division (1) of this subparagraph | |
957 | 1778 | may also make an elect ion in writing on a form | |
958 | 1779 | prescribed for this purpose by the System not | |
959 | 1780 | later than December 31, 2002, to receive a | |
960 | 1781 | retirement benefit based upon two and one -half | |
961 | - | percent (2 1/2%) of the final average RBH No. 7384 | |
962 | - | ENR. H. B. NO. 1805 Page 22 | |
1782 | + | percent (2 1/2%) of the final average | |
963 | 1783 | compensation of the member multiplied by the | |
964 | 1784 | number of years of service as a firefighter with | |
965 | 1785 | the Oklahoma Military Department of the State of | |
966 | 1786 | Oklahoma prior to July 1, 2002. The election | |
967 | 1787 | authorized by this subdivision shall be | |
968 | 1788 | irrevocable once the election is filed with the | |
969 | 1789 | System. Retirement benefits shall b e calculated | |
970 | 1790 | based upon the two and one -half percent (2 1/2%) | |
1791 | + | ||
1792 | + | SENATE FLOOR VERSION - HB1805 SFLR Page 36 | |
1793 | + | (Bold face denotes Committee Amendments) 1 | |
1794 | + | 2 | |
1795 | + | 3 | |
1796 | + | 4 | |
1797 | + | 5 | |
1798 | + | 6 | |
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1815 | + | 23 | |
1816 | + | 24 | |
1817 | + | ||
971 | 1818 | multiplier upon payment being made pursuant to | |
972 | 1819 | Section 913.5 of this title. | |
973 | - | ||
974 | 1820 | (10) Any person who contributes to the System as a deputy | |
975 | 1821 | sheriff or county jailer as provided in paragraph (f) of su bsection | |
976 | 1822 | (1) of Section 919.1 of this title, and who retires under normal | |
977 | 1823 | retirement or early retirement under division (v) of subparagraph | |
978 | 1824 | (d) of paragraph (24) of Section 902 of this title, shall have | |
979 | 1825 | retirement benefits for each year of full -time-equivalent | |
980 | 1826 | participating service as a deputy sheriff or county jailer computed | |
981 | 1827 | on two and one-half percent (2 1/2%) of the final average | |
982 | 1828 | compensation based upon those years as a deputy sheriff or county | |
983 | 1829 | jailer, and any years in excess of twenty (20) years as a d eputy | |
984 | 1830 | sheriff or county jailer, or years credited to the member in | |
985 | 1831 | accordance with the provisions of Section 913 of this title, shall | |
986 | 1832 | be calculated for retirement purposes at two percent (2%) of the | |
987 | 1833 | final average compensation of the member multiplied by th e number of | |
988 | 1834 | years of such service. For purposes of this paragraph, "final | |
989 | 1835 | average compensation " shall be determined by computing the average | |
990 | 1836 | annual salary, in the manner prescribed by paragraph (18) of Section | |
991 | 1837 | 902 of this title, both for years of service performed as a deputy | |
992 | 1838 | sheriff or county jailer not in excess of twenty (20) years, and for | |
993 | 1839 | years of service performed in excess of twenty (20) years, whether | |
994 | 1840 | as a deputy sheriff or county jailer. | |
995 | 1841 | ||
1842 | + | SENATE FLOOR VERSION - HB1805 SFLR Page 37 | |
1843 | + | (Bold face denotes Committee Amendments) 1 | |
1844 | + | 2 | |
1845 | + | 3 | |
1846 | + | 4 | |
1847 | + | 5 | |
1848 | + | 6 | |
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1863 | + | 21 | |
1864 | + | 22 | |
1865 | + | 23 | |
1866 | + | 24 | |
1867 | + | ||
996 | 1868 | (11) Any person who contributes to the System as an emergen cy | |
997 | 1869 | medical service personnel as provided in paragraph (h) of subsection | |
998 | 1870 | (1) of Section 919.1 of this title, and who retires under normal | |
999 | 1871 | retirement or early retirement under division (vii) of subparagraph | |
1000 | 1872 | (d) of paragraph (24) of Section 902 of this title, shall have | |
1001 | 1873 | retirement benefits for each year of full -time-equivalent | |
1002 | 1874 | participating service as an emergency medical service personnel | |
1003 | 1875 | computed on two and one-half percent (2 1/2%) of the final average | |
1004 | 1876 | compensation based upon those years as an emergency med ical service | |
1005 | 1877 | personnel. Any years of full -time-equivalent participating service | |
1006 | 1878 | in excess of twenty (20) years as an emergency medical personnel, or | |
1007 | - | years credited to the member in accor dance with the provisions of RBH No. 7384 | |
1008 | - | ENR. H. B. NO. 1805 Page 23 | |
1879 | + | years credited to the member in accordance with the provisions of | |
1009 | 1880 | Section 913 of this title, shall be calc ulated for retirement | |
1010 | 1881 | purposes at two percent (2%) of the final average compensation of | |
1011 | 1882 | the member multiplied by the number of years of such se rvice. For | |
1012 | 1883 | the purposes of this paragraph, "final average compensation " shall | |
1013 | 1884 | be determined by computing the ave rage annual salary, in the manner | |
1014 | 1885 | prescribed by paragraph 18 of Section 902 of this title, both for | |
1015 | 1886 | years of service performed as an emergency medical personnel not in | |
1016 | 1887 | excess of twenty (20) years, and for years of service performed in | |
1017 | 1888 | excess of twenty (20) years, as an emergency medical service | |
1018 | 1889 | personnel. | |
1019 | - | ||
1020 | 1890 | (12) Upon death of a retiree, there shall be paid to his or her | |
1021 | 1891 | beneficiary an amount equal to the excess, if any, of his or her | |
1892 | + | ||
1893 | + | SENATE FLOOR VERSION - HB1805 SFLR Page 38 | |
1894 | + | (Bold face denotes Committee Amendments) 1 | |
1895 | + | 2 | |
1896 | + | 3 | |
1897 | + | 4 | |
1898 | + | 5 | |
1899 | + | 6 | |
1900 | + | 7 | |
1901 | + | 8 | |
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1903 | + | 10 | |
1904 | + | 11 | |
1905 | + | 12 | |
1906 | + | 13 | |
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1911 | + | 18 | |
1912 | + | 19 | |
1913 | + | 20 | |
1914 | + | 21 | |
1915 | + | 22 | |
1916 | + | 23 | |
1917 | + | 24 | |
1918 | + | ||
1022 | 1919 | accumulated contributions over the sum of all retirement benefit | |
1023 | 1920 | payments made. | |
1024 | - | ||
1025 | 1921 | (12) (13) Such annual retirement benefits shall be paid in | |
1026 | 1922 | equal monthly installments, except that the Board may provide for | |
1027 | 1923 | the payment of retirement benefits which total less than Two Hundred | |
1028 | 1924 | Forty Dollars ($240.00) a year on other than a monthly b asis. | |
1029 | - | ||
1030 | 1925 | (13) (14) Pursuant to the rules established by the Board, a | |
1031 | 1926 | retiree receiving monthly benefits from the System may authorize | |
1032 | 1927 | warrant deductions for any products currently offered to active | |
1033 | 1928 | state employees through the Employees Benefits Council Oklahoma | |
1034 | 1929 | Employees Insurance and Benefits Board , provided that product is | |
1035 | 1930 | offered to state retirees as a group and has a minimum participation | |
1036 | 1931 | of five hundred state retirees. The System has no responsibility | |
1037 | 1932 | for the marketing, enrolling or administration of su ch products, but | |
1038 | 1933 | shall retain a processing fee of two percent (2%) of the gross | |
1039 | 1934 | deductions for the products. Retirement benefit deductions sha ll be | |
1040 | 1935 | made for membership dues for any statewide association for which | |
1041 | 1936 | payroll deductions are authorized pursuant to subsection B of | |
1042 | 1937 | Section 34.70 of Title 62 of the Oklahoma Statutes for retired | |
1043 | 1938 | members of any state -supported retirement system, upon proper | |
1044 | 1939 | authorization given by the member to the board from which the member | |
1045 | 1940 | or beneficiary is currently receiving reti rement benefits. | |
1046 | - | ||
1047 | 1941 | B. A member shall be considered disabled if such member | |
1048 | 1942 | qualifies for the payment of Social Security disability benefits, or | |
1943 | + | ||
1944 | + | SENATE FLOOR VERSION - HB1805 SFLR Page 39 | |
1945 | + | (Bold face denotes Committee Amendments) 1 | |
1946 | + | 2 | |
1947 | + | 3 | |
1948 | + | 4 | |
1949 | + | 5 | |
1950 | + | 6 | |
1951 | + | 7 | |
1952 | + | 8 | |
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1964 | + | 20 | |
1965 | + | 21 | |
1966 | + | 22 | |
1967 | + | 23 | |
1968 | + | 24 | |
1969 | + | ||
1049 | 1970 | the payment of benefits pursuant to the Railroad Retirement Act of | |
1050 | 1971 | 1974, Section 231 et seq. of Title 45 of the U nited States Code, and | |
1051 | 1972 | shall be eligible for benefits hereunder upon proof of such | |
1052 | 1973 | disability, provided such member is an active regularly scheduled | |
1053 | - | employee with a participating employer at the time o f injury or RBH No. 7384 | |
1054 | - | ENR. H. B. NO. 1805 Page 24 | |
1974 | + | employee with a participating employer at the time of injury or | |
1055 | 1975 | inception of illness or disease resulting i n subsequent | |
1056 | 1976 | certification of eligibility for Social Security disability benefits | |
1057 | 1977 | by reason of such injury, illness or disease, providing such | |
1058 | 1978 | disability is certified by the Social Security Administration within | |
1059 | 1979 | one (1) year after the last date physically on the job and after | |
1060 | 1980 | completion of at least eight (8) years of participating service or | |
1061 | 1981 | combined prior and participating service or resulting in subsequent | |
1062 | 1982 | certification of eligibility of disability by the Railroad | |
1063 | 1983 | Retirement Board providing such certifica tion is made by the | |
1064 | 1984 | Railroad Retirement Board within one (1) year after the last date | |
1065 | 1985 | physically on the job and after completion of at least ei ght (8) | |
1066 | 1986 | years of participating service or combined prior and participating | |
1067 | 1987 | service. The member shall submit to t he Retirement System the | |
1068 | 1988 | Social Security Award Notice or the Railroad Retirement Award Notice | |
1069 | 1989 | certifying the date of entitlement for disability benefits, as | |
1070 | 1990 | issued by the Social Security Administration, Department of Health | |
1071 | 1991 | and Human Services or the Railro ad Retirement Board. Disability | |
1072 | 1992 | benefits shall become effective on the date of entitlement as | |
1073 | 1993 | established by the Social Security Administratio n or the Railroad | |
1994 | + | ||
1995 | + | SENATE FLOOR VERSION - HB1805 SFLR Page 40 | |
1996 | + | (Bold face denotes Committee Amendments) 1 | |
1997 | + | 2 | |
1998 | + | 3 | |
1999 | + | 4 | |
2000 | + | 5 | |
2001 | + | 6 | |
2002 | + | 7 | |
2003 | + | 8 | |
2004 | + | 9 | |
2005 | + | 10 | |
2006 | + | 11 | |
2007 | + | 12 | |
2008 | + | 13 | |
2009 | + | 14 | |
2010 | + | 15 | |
2011 | + | 16 | |
2012 | + | 17 | |
2013 | + | 18 | |
2014 | + | 19 | |
2015 | + | 20 | |
2016 | + | 21 | |
2017 | + | 22 | |
2018 | + | 23 | |
2019 | + | 24 | |
2020 | + | ||
1074 | 2021 | Retirement Board, but not before the first day of the month | |
1075 | 2022 | following removal from the payroll, whichever is later, and final | |
1076 | 2023 | approval by the Retirement System. Benefits shall be based upon | |
1077 | 2024 | length of service and compensation as of the date of disability, | |
1078 | 2025 | without actuarial reduction because of commencement prior to the | |
1079 | 2026 | normal retirement date. The o nly optional form of benefit payment | |
1080 | 2027 | available for disability benefits is Option A as provided for in | |
1081 | 2028 | Section 918 of this title. Option A must be elected in accordance | |
1082 | 2029 | with the provisions of Section 918 of this title. Benefit payments | |
1083 | 2030 | shall cease upon the member's recovery from disability prior to the | |
1084 | 2031 | normal retirement date. Future benefits, if any, shall be paid | |
1085 | 2032 | based upon length of service and compensation as of the date of | |
1086 | 2033 | disability. In the event that disability ceases and the member | |
1087 | 2034 | returns to employment within the System credited service to the date | |
1088 | 2035 | of disability shall be restored, and future benefits shall be | |
1089 | 2036 | determined accordingly. | |
1090 | - | ||
1091 | 2037 | C. A member who incurred a disability pursuant to subsection B | |
1092 | 2038 | of this section on or after July 1, 1999, and who ha s retired from | |
1093 | 2039 | the System with an early retirement benefit pending certification | |
1094 | 2040 | from the Social Security Administration or the Railroad Retirement | |
1095 | 2041 | Board shall receive a retirement benefit not less than the | |
1096 | 2042 | disability retirement benefit provided by subsect ion B of this | |
1097 | 2043 | section once the System receives a Social Security Award Notice or a | |
1098 | 2044 | Railroad Retirement Award Notice pursuant to subsection B of this | |
1099 | - | section and a completed Application for Disability B enefits RBH No. 7384 | |
1100 | - | ENR. H. B. NO. 1805 Page 25 | |
2045 | + | ||
2046 | + | SENATE FLOOR VERSION - HB1805 SFLR Page 41 | |
2047 | + | (Bold face denotes Committee Amendments) 1 | |
2048 | + | 2 | |
2049 | + | 3 | |
2050 | + | 4 | |
2051 | + | 5 | |
2052 | + | 6 | |
2053 | + | 7 | |
2054 | + | 8 | |
2055 | + | 9 | |
2056 | + | 10 | |
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2058 | + | 12 | |
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2063 | + | 17 | |
2064 | + | 18 | |
2065 | + | 19 | |
2066 | + | 20 | |
2067 | + | 21 | |
2068 | + | 22 | |
2069 | + | 23 | |
2070 | + | 24 | |
2071 | + | ||
2072 | + | section and a completed Application for Disability Benefits | |
1101 | 2073 | application for disability benefits . In addition, such member shall | |
1102 | 2074 | receive the difference, if any, between the early retirement benefit | |
1103 | 2075 | and the disability benefit from the date the Social Security | |
1104 | 2076 | Administration or the Railroad Retirement Board establishes | |
1105 | 2077 | disability entitlement. | |
1106 | - | ||
1107 | 2078 | D. Any actively par ticipating member of the System on or after | |
1108 | 2079 | July 1, 1998, except for those employees provided in subparagraph | |
1109 | 2080 | (e) of paragraph (14) of Section 902 of this title, whose employment | |
1110 | 2081 | is less than full-time, shall have his or her final average | |
1111 | 2082 | compensation calculated on an annualized basis using his or her | |
1112 | 2083 | hourly wage subject to the maximum compensation limits; provided, | |
1113 | 2084 | however, any such member whose first participating service occurred | |
1114 | 2085 | before July 1, 2013, and who has at least three (3) years of full - | |
1115 | 2086 | time employment during the last ten (10) years immediately preceding | |
1116 | 2087 | termination or retirement shall not be eligible for the | |
1117 | 2088 | annualization provisions co ntained herein; and provided further, any | |
1118 | 2089 | such member whose first participating service occurred on or after | |
1119 | 2090 | July 1, 2013, and who has at least five (5) years of full -time | |
1120 | 2091 | employment during the last ten (10) years immediately preceding | |
1121 | 2092 | termination or retirement shall not be eligible for the | |
1122 | 2093 | annualization provisions contained herein. The Board of Trustees | |
1123 | 2094 | shall promulgate such administrative rules as are necessary to | |
1124 | 2095 | implement the provisions of this subsection. | |
1125 | 2096 | ||
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1126 | 2123 | SECTION 3. AMENDATORY 74 O.S. 2021, Section 916.3, is | |
1127 | 2124 | amended to read as follows: | |
1128 | - | ||
1129 | 2125 | Section 916.3 A. 1. Notwithstanding the provisio ns of | |
1130 | 2126 | Sections 901 through 932 of this title, a monthly pension, as | |
1131 | 2127 | provided in subsection B of this section, shall be paid on behalf of | |
1132 | 2128 | any member who is a correctional officer or probation and parole | |
1133 | 2129 | officer of the Department of Corrections and who is ki lled or | |
1134 | 2130 | mortally wounded on or after January 1, 2000, during the performance | |
1135 | 2131 | of the member's duties for the Department or any employee of the | |
1136 | 2132 | Department of Corrections who is killed or mortally wounded after | |
1137 | 2133 | June 30, 2004, during the performance of the mem ber's duties for the | |
1138 | 2134 | Department. | |
1139 | - | ||
1140 | 2135 | 2. The monthly pension described in this section shall be paid | |
1141 | 2136 | on behalf of any member first hired by any county that is a | |
1142 | 2137 | participating employer in the System as a deputy sheriff or jailer | |
1143 | 2138 | on or after November 1, 2020, an d who is killed or mortally wounded | |
1144 | 2139 | during the performance of the member's duties as a deputy sheriff or | |
1145 | - | jailer. RBH No. 7384 | |
1146 | - | ENR. H. B. NO. 1805 Page 26 | |
1147 | - | ||
2140 | + | jailer. | |
1148 | 2141 | 3. The monthly pension descri bed in this section shall be paid | |
1149 | 2142 | on behalf of a licensed emergency medical personnel hired by any | |
1150 | 2143 | participating employer for the first time as a licensed emergency | |
1151 | 2144 | medical personnel on or after the effective date of this act, and | |
1152 | 2145 | who is killed or mortally wounded during the performance of the | |
1153 | 2146 | member's duties as an emergency medical personnel. | |
1154 | 2147 | ||
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1155 | 2174 | B. The monthly benefit shall be equal to: | |
1156 | - | ||
1157 | 2175 | 1. Two and one-half percent (2 1/2%); | |
1158 | - | ||
1159 | 2176 | 2. Multiplied by twenty (20) years of service, regardless of | |
1160 | 2177 | the actual number of y ears of credited service performed by the | |
1161 | 2178 | member prior to death, if the member had performed less than twenty | |
1162 | 2179 | (20) years of credited service, or the actual number of years of | |
1163 | 2180 | credited service of the member if greater than twenty (20) years; | |
1164 | - | ||
1165 | 2181 | 3. Multiplied by the member's final average compensation; and | |
1166 | - | ||
1167 | 2182 | 4. Divided by 12. | |
1168 | - | ||
1169 | 2183 | C. The pension provided for in subsection A o f this section | |
1170 | 2184 | shall be paid: | |
1171 | - | ||
1172 | 2185 | 1. Except as provided in subsection D of this section, to the | |
1173 | 2186 | surviving spouse for life; or | |
1174 | - | ||
1175 | 2187 | 2. If there is no s urviving spouse or upon the death of the | |
1176 | 2188 | surviving spouse: | |
1177 | - | ||
1178 | 2189 | a. to the surviving child or children of said member o r | |
1179 | 2190 | legal guardian of such child or children for such time | |
1180 | 2191 | as such child or children are under the age of | |
1181 | 2192 | eighteen (18) years, or | |
1182 | - | ||
1183 | 2193 | b. to the surviving child or children between the age of | |
1184 | 2194 | eighteen (18) and twenty -two (22) years if the child | |
1185 | 2195 | is enrolled full time in and is regularly attending a | |
1186 | 2196 | public or private school or any institution of higher | |
1187 | 2197 | education. | |
1188 | 2198 | ||
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2224 | + | ||
1189 | 2225 | D. No surviving spouse shall receive bene fits from this | |
1190 | 2226 | section, Section 49-113 of Title 11 of the Oklahoma Statutes, | |
1191 | - | Section 50-117 of Title 11 of the Oklahoma Statutes, or Section 2- RBH No. 7384 | |
1192 | - | ENR. H. B. NO. 1805 Page 27 | |
2227 | + | Section 50-117 of Title 11 of the Ok lahoma Statutes, or Section 2 - | |
1193 | 2228 | 306 of Title 47 of the Oklahoma Statutes as the surviving spouse of | |
1194 | 2229 | more than one member of the Oklahoma Firefighters Pension and | |
1195 | 2230 | Retirement System, the Oklahoma Police Pension and Retirement | |
1196 | 2231 | System, the Oklahoma Law Enforceme nt Retirement System, or the | |
1197 | 2232 | Oklahoma Public Employees Retirement System. The surviving spouse | |
1198 | 2233 | of more than one member shall elect which membe r's benefits he or | |
1199 | 2234 | she will receive. | |
1200 | - | ||
1201 | 2235 | E. In addition to the pension above provided for, if said | |
1202 | 2236 | member leaves one or more children under the age of eighteen (18) | |
1203 | 2237 | years or under the age of twenty -two (22) years if the child is | |
1204 | 2238 | enrolled full-time in and is regularly attending a public or private | |
1205 | 2239 | school or any institution of higher education, Four Hundred Dollars | |
1206 | 2240 | ($400.00) a month shall be paid to the surviving spouse or to the | |
1207 | 2241 | person having the care and custody of such children if there is no | |
1208 | 2242 | surviving spouse or if the surviving spouse dies and until each | |
1209 | 2243 | child reaches the age of eighteen (18) years or reaches the age o f | |
1210 | 2244 | twenty-two (22) years if the child is enrolled full -time in and is | |
1211 | 2245 | regularly attending a public or private school or any institution of | |
1212 | 2246 | higher education. | |
1213 | - | ||
1214 | 2247 | F. The pension benefit provided in this section shall be made | |
1215 | 2248 | prospectively only from the effective date of this act July 1, 2000. | |
2249 | + | ||
2250 | + | SENATE FLOOR VERSION - HB1805 SFLR Page 45 | |
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1216 | 2276 | The benefits shall be payable beginning the later of the first day | |
1217 | 2277 | of the month following the date that such e mployee was killed or | |
1218 | 2278 | dies from a mortal wound, as provided in this section, or the | |
1219 | 2279 | effective date of this act July 1, 2000. | |
1220 | - | ||
1221 | 2280 | G. The Board of Trustees of the Oklahoma Public Employees | |
1222 | 2281 | Retirement System shall promulgate such rules as are necessary to | |
1223 | 2282 | implement the provisions of this section. | |
1224 | - | ||
1225 | 2283 | SECTION 4. AMENDATORY 74 O.S. 2021, Section 919.1, is | |
1226 | 2284 | amended to read as follows: | |
1227 | - | ||
1228 | 2285 | Section 919.1 (1) Employee contributions to the Oklahoma | |
1229 | 2286 | Public Employees Retirement System shall be: | |
1230 | - | ||
1231 | 2287 | (a) for employees except as otherwise provided in | |
1232 | 2288 | paragraphs (b), (c), (d), (e), (f) and, (g), and (h) | |
1233 | 2289 | of this subsection: beginning July 1, 2006, and | |
1234 | 2290 | thereafter, three and one -half percent (3.5%) of | |
1235 | 2291 | allowable annual compensation ;, | |
1236 | - | RBH No. 7384 | |
1237 | - | ENR. H. B. NO. 1805 Page 28 | |
1238 | 2292 | (b) for correctional officers and probation and parole | |
1239 | 2293 | officers employed by the Department of Corrections: | |
1240 | 2294 | beginning July 1, 1998, and thereaft er, and for | |
1241 | 2295 | correctional officers or probation and parole officers | |
1242 | 2296 | who are in such position on June 30, 2004, or who are | |
1243 | 2297 | hired after June 30, 2 004, and who receive a promotion | |
1244 | 2298 | or change in job classification after June 30, 2004, | |
1245 | 2299 | to another position in the Department of Corrections, | |
2300 | + | ||
2301 | + | SENATE FLOOR VERSION - HB1805 SFLR Page 46 | |
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1246 | 2327 | so long as such officers have at least five (5) years | |
1247 | 2328 | of service as a correctional officer or probation and | |
1248 | 2329 | parole officer, eight percent (8%) of allowable | |
1249 | 2330 | compensation as provided in paragraph (9) of Section | |
1250 | 2331 | 902 of this title;, | |
1251 | - | ||
1252 | 2332 | (c) for fugitive apprehension agents who are employed with | |
1253 | 2333 | the Department of Corrections on or after July 1, | |
1254 | 2334 | 2002, and for fugitive apprehensio n agents who are in | |
1255 | 2335 | such position on June 30, 2004, or who are hired after | |
1256 | 2336 | June 30, 2004, and who receive a promo tion or change | |
1257 | 2337 | in job classification after June 30, 2004, to another | |
1258 | 2338 | position in the Department of Corrections, so long as | |
1259 | 2339 | such agents have at least five (5) years of service as | |
1260 | 2340 | a fugitive apprehension agent, eight percent (8%) of | |
1261 | 2341 | allowable compensation as provided in paragraph (9) of | |
1262 | 2342 | Section 902 of this title ;, | |
1263 | - | ||
1264 | 2343 | (d) for firefighters of the Oklahoma Military Department | |
1265 | 2344 | of the State of Oklahoma first employed beginning July | |
1266 | 2345 | 1, 2002, and thereafter, and such firefighters who | |
1267 | 2346 | performed service prior to July 1, 2002, for the | |
1268 | 2347 | Oklahoma Military Department of the State of Oklahoma | |
1269 | 2348 | and who make the election authorized by division (1) | |
1270 | 2349 | of subparagraph b of paragraph (9) of subsection A of | |
1271 | 2350 | Section 915 of this title who perform service on or | |
2351 | + | ||
2352 | + | SENATE FLOOR VERSION - HB1805 SFLR Page 47 | |
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1272 | 2378 | after July 1, 2002, in such c apacity, eight percent | |
1273 | 2379 | (8%) of allowable compensation as provided in | |
1274 | 2380 | subsection paragraph (9) of Section 902 of this | |
1275 | 2381 | title;, | |
1276 | - | ||
1277 | 2382 | (e) for all public safety officers of the Grand River Dam | |
1278 | 2383 | Authority as defined by paragraph (37) of Section 902 | |
1279 | 2384 | of this title, eight percent (8%) of allowable | |
1280 | 2385 | compensation as provided in paragraph (9) of Section | |
1281 | 2386 | 902 of this title;, | |
1282 | - | RBH No. 7384 | |
1283 | - | ENR. H. B. NO. 1805 Page 29 | |
1284 | 2387 | (f) for deputy sheriffs and county jailers employed by any | |
1285 | 2388 | county that is a participating employer in the System | |
1286 | 2389 | for the first time as a deputy sheriff or jailer on or | |
1287 | 2390 | after November 1, 2020, eight percent (8%) of | |
1288 | 2391 | allowable compensation as provided in paragraph (9) of | |
1289 | 2392 | Section 902 of this title ; and, | |
1290 | - | ||
1291 | 2393 | (g) for licensed emergency medical personnel employed by | |
1292 | 2394 | any participating employer as a licensed emergency | |
1293 | 2395 | medical personnel for the first time on or after the | |
1294 | 2396 | effective date of this act, eight percent (8%) of | |
1295 | 2397 | allowable compensation as provided in paragraph (9) of | |
1296 | 2398 | Section 902 of this title, and | |
1297 | - | ||
1298 | 2399 | (h) for all employees except those who make contributions | |
1299 | 2400 | pursuant to paragraphs (b), (c), (d), (e) and, (f), | |
1300 | 2401 | and (g) of this subsection who make an irrevocable | |
2402 | + | ||
2403 | + | SENATE FLOOR VERSION - HB1805 SFLR Page 48 | |
2404 | + | (Bold face denotes Committee Amendments) 1 | |
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1301 | 2429 | written election pursuant to paragraph (2) of | |
1302 | 2430 | subsection A of Section 915 of this title: six and | |
1303 | 2431 | forty-one one-hundredths percent (6.41%) of allowable | |
1304 | 2432 | annual compensation. | |
1305 | - | ||
1306 | 2433 | The contributions required by paragraphs (b), (c), (e), and (f), | |
1307 | 2434 | (g), and (h) of this subsection shall be made by a member for not | |
1308 | 2435 | more than twenty (20) years and thereafter shall be as provided in | |
1309 | 2436 | paragraph (a) of this subsection. | |
1310 | - | ||
1311 | 2437 | (2) Contributions shall be deducted by each state agency by the | |
1312 | 2438 | participating employer for such benefits as the Board is authorized | |
1313 | 2439 | to administer as provided for by law. Employee and employer | |
1314 | 2440 | contributions shall be remitted monthly, or as the Board may | |
1315 | 2441 | otherwise provide, to the Executive Director for deposit in the | |
1316 | 2442 | Oklahoma Public Employees Retirement Fund. | |
1317 | - | ||
1318 | 2443 | (3) Each participating employer shall pick up under the | |
1319 | 2444 | provisions of Section 414(h)(2) of the Internal Revenue Code of 1986 | |
1320 | 2445 | and pay the contribution which the memb er is required by law to make | |
1321 | 2446 | to the System for all compensation earned after December 31, 1988. | |
1322 | 2447 | Although the contributions so picked up are d esignated as member | |
1323 | 2448 | contributions, such contributions shall be treated as contributions | |
1324 | 2449 | being paid by the partici pating employer in lieu of contributions by | |
1325 | 2450 | the member in determining tax treatment under the Internal Revenue | |
1326 | 2451 | Code of 1986 and such picked up contributions shall not be | |
1327 | 2452 | includable in the gross income of the member until such amounts are | |
1328 | - | distributed or made available to the member or the beneficiary of RBH No. 7384 | |
1329 | - | ENR. H. B. NO. 1805 Page 30 | |
2453 | + | ||
2454 | + | SENATE FLOOR VERSION - HB1805 SFLR Page 49 | |
2455 | + | (Bold face denotes Committee Amendments) 1 | |
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2479 | + | ||
2480 | + | distributed or made available to the member or the beneficiary of | |
1330 | 2481 | the member. The member, by the terms of this System, shall not have | |
1331 | 2482 | any option to choose to re ceive the contributions so picked up | |
1332 | 2483 | directly and the picked up contributions must be paid by the | |
1333 | 2484 | participating employer to the System. | |
1334 | - | ||
1335 | 2485 | Member contributions which are picked up shall be treated in the | |
1336 | 2486 | same manner and to the same extent as member contributions made | |
1337 | 2487 | prior to the date on which member contributions were picked up by | |
1338 | 2488 | the participating employer. Member co ntributions so picked up shall | |
1339 | 2489 | be included in gross salary for purposes of determining benefits and | |
1340 | 2490 | contributions under the System. | |
1341 | - | ||
1342 | 2491 | The participating employer shall pay the member contributions | |
1343 | 2492 | from the same source of funds used in paying salary to the mem ber, | |
1344 | 2493 | by effecting an equal cash reduction in gross salary of the member. | |
1345 | - | ||
1346 | 2494 | (4) By September 1, 1989, the System shall refund the | |
1347 | 2495 | accumulated employee contributions of any member who elects to | |
1348 | 2496 | retain the member's membership in the Teachers' Retirement System of | |
1349 | 2497 | Oklahoma, in accordance with Section 17 -104 of Title 70 of the | |
1350 | 2498 | Oklahoma Statutes, to such member. Upon the refund of the | |
1351 | 2499 | accumulated employee contributions referred to in this subsection, | |
1352 | 2500 | all benefits and rights accrued to such member are terminated. | |
1353 | - | ||
1354 | 2501 | SECTION 5. AMENDATORY 74 O.S. 2021, Section 920A, is | |
1355 | 2502 | amended to read as follows: | |
2503 | + | ||
2504 | + | SENATE FLOOR VERSION - HB1805 SFLR Page 50 | |
2505 | + | (Bold face denotes Committee Amendments) 1 | |
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1356 | 2529 | ||
1357 | 2530 | Section 920A. A. Any county, county hospital, city or town, | |
1358 | 2531 | conservation district, circuit engineering district or any public or | |
1359 | 2532 | private trust in which a county, city or town participates and is | |
1360 | 2533 | the primary beneficiary, which is a participating employer and any | |
1361 | 2534 | eligible employee shall cont ribute to the Oklahoma Public Employees | |
1362 | 2535 | Retirement System. The total employer and employee contributions | |
1363 | 2536 | shall be based on the allowable annual compensation as defined in | |
1364 | 2537 | paragraph (9) of Section 902 of this title. Except as provided for | |
1365 | 2538 | in this section, the employer shall not pay for the employee any of | |
1366 | 2539 | the employee contribution to the System. | |
1367 | - | ||
1368 | 2540 | B. For the fiscal y ear ending June 30, 2005, the total employer | |
1369 | 2541 | and employee contributions shall equal thirteen and one -half percent | |
1370 | 2542 | (13 1/2%) of the allowable mo nthly compensation of each member; | |
1371 | 2543 | provided, however, each participating employer listed in this | |
1372 | 2544 | section may set the amount of the employer and employee contribution | |
1373 | 2545 | to equal thirteen and one -half percent (13 1/2%) of the allowable | |
1374 | - | monthly compensation of each member for co mpensation as provided in RBH No. 7384 | |
1375 | - | ENR. H. B. NO. 1805 Page 31 | |
2546 | + | monthly compensation of each member for compensation as provided in | |
1376 | 2547 | paragraph (9) of Section 902 of this title; provided, the employer | |
1377 | 2548 | contribution shall not exceed ten percent (10%) and the employee | |
1378 | 2549 | contribution shall not exceed eight and one -half percent (8 1/2%). | |
1379 | - | ||
1380 | 2550 | C. The total employer and employee contributions for fiscal | |
1381 | 2551 | years following the fiscal year ending June 30, 2005, shall be as | |
1382 | 2552 | follows: | |
1383 | - | ||
1384 | 2553 | July 1, 2005 – June 30, 2006 15% | |
1385 | 2554 | ||
2555 | + | SENATE FLOOR VERSION - HB1805 SFLR Page 51 | |
2556 | + | (Bold face denotes Committee Amendments) 1 | |
2557 | + | 2 | |
2558 | + | 3 | |
2559 | + | 4 | |
2560 | + | 5 | |
2561 | + | 6 | |
2562 | + | 7 | |
2563 | + | 8 | |
2564 | + | 9 | |
2565 | + | 10 | |
2566 | + | 11 | |
2567 | + | 12 | |
2568 | + | 13 | |
2569 | + | 14 | |
2570 | + | 15 | |
2571 | + | 16 | |
2572 | + | 17 | |
2573 | + | 18 | |
2574 | + | 19 | |
2575 | + | 20 | |
2576 | + | 21 | |
2577 | + | 22 | |
2578 | + | 23 | |
2579 | + | 24 | |
2580 | + | ||
1386 | 2581 | July 1, 2006 – June 30, 2007 16% | |
1387 | - | ||
1388 | 2582 | July 1, 2007 – June 30, 2008 17% | |
1389 | - | ||
1390 | 2583 | July 1, 2008 – June 30, 2009 18% | |
1391 | - | ||
1392 | 2584 | July 1, 2009 – June 30, 2010 19% | |
1393 | - | ||
1394 | 2585 | July 1, 2010 – June 30, 2011 and | |
1395 | 2586 | each fiscal year thereafter 20% | |
1396 | - | ||
1397 | 2587 | Such employee and employer contributions shall be based upon the | |
1398 | 2588 | allowable monthly compensation of each member for compensation as | |
1399 | 2589 | provided in paragraph (9) of Section 902 of this title. The maximum | |
1400 | 2590 | employer contribution of ten percent (10%) in subsection B of this | |
1401 | 2591 | section shall increase by one and one -half percent (1.5%) beginning | |
1402 | 2592 | in the fiscal year ending June 30, 2006, and one percent (1%) for | |
1403 | 2593 | each fiscal year thereafter until it reaches sixteen and one -half | |
1404 | 2594 | percent (16.5%). For such years, the employee contribution s hall | |
1405 | 2595 | not exceed eight and one -half percent (8 1/2%). Notwithstanding any | |
1406 | 2596 | other provisions of this section to the contrary, for those members | |
1407 | 2597 | described in division (v) , or (vi) of subparagraph (d) of paragraph | |
1408 | 2598 | (24) of Section 902 of this title, the county participating employer | |
1409 | 2599 | shall contribute sixteen and one -half percent (16 1/2%) and the | |
1410 | 2600 | employee shall contribute eight percent (8%) for a total of twenty - | |
1411 | 2601 | four and one-half percent (24 1/2%). | |
1412 | - | ||
1413 | 2602 | D. For members who make the election pursuant to paragraph (2) | |
1414 | 2603 | of subsection A of Section 915 of this title, the employee | |
1415 | 2604 | contribution shall increase by two and ninety -one one-hundredths | |
2605 | + | ||
2606 | + | SENATE FLOOR VERSION - HB1805 SFLR Page 52 | |
2607 | + | (Bold face denotes Committee Amendments) 1 | |
2608 | + | 2 | |
2609 | + | 3 | |
2610 | + | 4 | |
2611 | + | 5 | |
2612 | + | 6 | |
2613 | + | 7 | |
2614 | + | 8 | |
2615 | + | 9 | |
2616 | + | 10 | |
2617 | + | 11 | |
2618 | + | 12 | |
2619 | + | 13 | |
2620 | + | 14 | |
2621 | + | 15 | |
2622 | + | 16 | |
2623 | + | 17 | |
2624 | + | 18 | |
2625 | + | 19 | |
2626 | + | 20 | |
2627 | + | 21 | |
2628 | + | 22 | |
2629 | + | 23 | |
2630 | + | 24 | |
2631 | + | ||
1416 | 2632 | percent (2.91%). Su ch employee contribution increase shall be paid | |
1417 | 2633 | by the employee. | |
1418 | - | ||
1419 | 2634 | E. Each participating employer pursuant to the provisions of | |
1420 | - | this section may pick up under the provisions of Section 414(h)(2) RBH No. 7384 | |
1421 | - | ENR. H. B. NO. 1805 Page 32 | |
2635 | + | this section may pick up under the provisions of Section 414(h)(2) | |
1422 | 2636 | of the Internal Revenue Code of 1986 and pay the contribution which | |
1423 | 2637 | the member is required by law to make to the System for all | |
1424 | 2638 | compensation earned after December 31, 1989. A lthough the | |
1425 | 2639 | contributions so picked up are designated as member contributions, | |
1426 | 2640 | such contributions shall be treated as contributions being paid by | |
1427 | 2641 | the participating employer in lieu of contributions by the member in | |
1428 | 2642 | determining tax treatment under the Inter nal Revenue Code of 1986 | |
1429 | 2643 | and such picked up contributions shall not be includable in the | |
1430 | 2644 | gross income of the member until such amounts are distributed or | |
1431 | 2645 | made available to the member or the beneficiary of the member. The | |
1432 | 2646 | member, by the terms of this Syste m, shall not have any option to | |
1433 | 2647 | choose to receive the contributions so picked up directly and the | |
1434 | 2648 | picked up contributions must be paid by the p articipating employer | |
1435 | 2649 | to the System. | |
1436 | - | ||
1437 | 2650 | F. Member contributions which are picked up shall be treated in | |
1438 | 2651 | the same manner and to the same extent as member contributions made | |
1439 | 2652 | prior to the date on which member contributions were picked up by | |
1440 | 2653 | the participating employer. Member contributions so picked up shall | |
1441 | 2654 | be included in gross salary for purposes of determining benefits and | |
1442 | 2655 | contributions under the System. | |
1443 | 2656 | ||
2657 | + | SENATE FLOOR VERSION - HB1805 SFLR Page 53 | |
2658 | + | (Bold face denotes Committee Amendments) 1 | |
2659 | + | 2 | |
2660 | + | 3 | |
2661 | + | 4 | |
2662 | + | 5 | |
2663 | + | 6 | |
2664 | + | 7 | |
2665 | + | 8 | |
2666 | + | 9 | |
2667 | + | 10 | |
2668 | + | 11 | |
2669 | + | 12 | |
2670 | + | 13 | |
2671 | + | 14 | |
2672 | + | 15 | |
2673 | + | 16 | |
2674 | + | 17 | |
2675 | + | 18 | |
2676 | + | 19 | |
2677 | + | 20 | |
2678 | + | 21 | |
2679 | + | 22 | |
2680 | + | 23 | |
2681 | + | 24 | |
2682 | + | ||
1444 | 2683 | G. The participating employer shall pay the member | |
1445 | 2684 | contributions from the same source of funds used in pa ying salary to | |
1446 | 2685 | the member, by effecting an equal cash reduction in gross salary of | |
1447 | 2686 | the member. | |
1448 | - | ||
1449 | 2687 | SECTION 6. This act shall become effective November 1, 2024. | |
1450 | - | RBH No. 7384 | |
1451 | - | ENR. H. B. NO. 1805 Page 33 | |
1452 | - | Passed the House of Representatives the 12th day of March, 2024. | |
1453 | - | ||
1454 | - | ||
1455 | - | ||
1456 | - | ||
1457 | - | Presiding Officer of the House | |
1458 | - | of Representatives | |
1459 | - | ||
1460 | - | ||
1461 | - | ||
1462 | - | Passed the Senate the 23rd day of April, 2024. | |
1463 | - | ||
1464 | - | ||
1465 | - | ||
1466 | - | ||
1467 | - | Presiding Officer of the Senate | |
1468 | - | ||
1469 | - | ||
1470 | - | OFFICE OF THE GOVERNOR | |
1471 | - | Received by the Office of the Governor this ____________________ | |
1472 | - | day of ___________________, 20_______, at _______ o'clock _______ M. | |
1473 | - | By: _________________________________ | |
1474 | - | Approved by the Governor of the State of Oklahoma this _____ ____ | |
1475 | - | day of ___________________, 20_______, at __ _____ o'clock _______ M. | |
1476 | - | ||
1477 | - | ||
1478 | - | _________________________________ | |
1479 | - | Governor of the State of Oklahoma | |
1480 | - | ||
1481 | - | OFFICE OF THE SECRETARY OF STATE | |
1482 | - | Received by the Office of the Secretary of State this __________ | |
1483 | - | day of ___________________, 20_______, at _______ o'clock __ _____ M. | |
1484 | - | By: _________________________________ | |
1485 | - | ||
1486 | - | ||
2688 | + | COMMITTEE REPORT BY: COMMITTEE ON RETIREMENT AND INSURANCE | |
2689 | + | March 26, 2024 - DO PASS |