Oklahoma 2024 Regular Session

Oklahoma House Bill HB1824 Compare Versions

Version 1 (Old)

Version 2 (New)

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3		-	SENATE FLOOR VERSION - HB1824 SFLR Page 1
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29		-	SENATE FLOOR VERSION
30		-	April 9, 2024
	28	+	STATE OF OKLAHOMA
31	29
	30	+	2nd Session of the 59th Legislature (2024)
32	31
33	32		COMMITTEE SUBSTITUTE
34	33		FOR ENGROSSED
35		-	HOUSE BILL ~~NO.~~ 1824 By: May and Munson of the House
	34	+	HOUSE BILL 1824 By: May and Munson of the House
36	35
37	36		and
38	37
39	38		Stephens of the Senate
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	43	+
	44	+	COMMITTEE SUBSTITUTE
44	45
45	46		[ public retirement systems - Oklahoma Firefighters
46	47		Pension and Retirement System - Oklahoma Police
47	48		Pension and Retirement System – Oklahoma Law
48	49		Enforcement Retirement System - death benefit amounts
49	50		– Oklahoma Pension Legislation Actuarial Analysis Act
50	51		– definitions - effective dates ]
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55	56		BE IT ENACTED BY THE PEOPLE OF THE STATE OF OKLAHOMA:
56	57		SECTION 1. AMENDATORY 11 O.S. 2 021, Section 49-113.2, is
57	58		amended to read as follows:
58	59		Section 49-113.2. A. Upon the death of an active or retired
59	60		member, the Oklahoma Firefighters Pension and Retirement System
60	61		shall pay to the surviving spouse of the member if the surviving
61	62		spouse has been married to the firefighter for thirty (30)
62	63		continuous months preceding the member ’s death provided a surviving
63	64		spouse of a member who died while in, or as a consequence of, the
64	65		performance of the member ’s duty for a participating municipality
65		-	shall not be subject to the marriage limitation for survivor
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	92	+	shall not be subject to the marriage limitation for survivor
93	93		benefits, or if there is no surviving spouse or no surviving spouse
94	94		meeting the requireme nts of this section, the System shall pay to
95	95		the designated recipient or recipients of the member, or if there is
96	96		no designated recipient or if the designated recipient predeceases
97	97		the member, to the estate of the member, the sum of Four Thousand
98	98		Dollars ($4,000.00) for those active or retired members who died
99	99		prior to July 1, 1999. For those active or retired member s who die
100	100		on or after July 1, 1999, but prior to the effective date of this
101	101		act, the sum shall be Five Thousand Dollars ($5,000.00). For those
102	102		active or retired members who die on or after the effective date of
103	103		this act, the sum shall be Seven Thousand Five Hundred Dollars
104	104		($7,500.00).
105	105		B. Upon the death of a member who dies leaving no living
106	106		designated recipient or having designated the me mber’s estate as
107	107		recipient, the System may pay any applicable death benefit which may
108	108		be subject to probate, in an amo unt of Five Thousand Dollars
109	109		($5,000.00), to the heir or heirs of the member without the
110	110		intervention of a probate court or probate procedures . For a death
111	111		benefit paid on or after the effective date of this act pursuant to
112	112		this subsection, the amount of such benefit shall be Seven Thousand
113	113		Five Hundred Dollars ($7,500.00).
114	114		C. Before any applicable probate procedure may be waived, the
115	115		System must be in receipt of the member ’s proof of death and the
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143	142		following documents from those persons claiming to be the legal
144	143		heirs of the deceased member:
145	144		1. The member’s last will and testament if available;
146	145		2. An affidavit or affidavits of heirship which m ust contain:
147	146		a. the names and signatures of all claiming heirs to the
148	147		deceased member’s estate including the claiming heirs ’
149	148		names, relationship to the deceased member, current
150	149		addresses and current telephone numbers,
151	150		b. a statement or statements by th e claiming heirs that
152	151		no application or petition for the appointment of a
153	152		personal representative is pending or has be en granted
154	153		in any jurisdiction,
155	154		c. a statement that the value of the deceased member ’s
156	155		entire probate estate, less liens and encumbrances,
157	156		does not exceed the dollar limit pursuant to Section
158	157		393 of Title 58 of the Oklahoma Statutes, including
159	158		the payment of benefits from the System, and
160	159		d. a statement by each individual claiming heir
161	160		identifying the amount of personal property that the
162	161		heir is claiming from the System or the amount the
163	162		heir agrees to be paid to another person, and that the
164	163		heir has been notified of, is aware of and consents to
165	164		the identified claims of all the other claiming heirs
166	165		of the deceased member pending with the System;
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194	192		3. A written agreement or agreements signed by all claiming
195	193		heirs of the deceased member which provides that the claiming heirs
196	194		release, discharge and hold harmless the System from any and all
197	195		liability, obligations and costs which it may incur as a re sult of
198	196		making a payment to any of the deceased member ’s heirs;
199	197		4. A corroborating affidavit from an individual other than a
200	198		claiming heir, who was familiar with the affairs of the deceased
201	199		member; and
202	200		5. Proof that funeral and burial expenses of the decease d
203	201		member have been paid or provided for.
204	202		D. The System shall retain complete discretion in determining
205	203		which requests for probate waiver may be granted or denied, for any
206	204		reason. Should the System have any questions as to the validity of
207	205		any document presented by the claiming heirs, or as to any statement
208	206		or assertion contained therein, the probate requirements prov ided
209	207		for in Section 1 et seq. of Title 58 of the Oklahoma Statutes shall
210	208		not be waived.
211	209		E. After paying any death benefits to any claiming he irs as
212	210		provided pursuant to this section, the System is discharged and
213	211		released from any and all liability, obligation and costs to the
214	212		same extent as if the System had paid a personal representative
215	213		holding valid letters testamentary issued by a court of competent
216	214		jurisdiction. The System is not required to inquire into the truth
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244	241		of any matter specified in this sect ion or into the payment of any
245	242		estate tax liability.
246	243		F. The provisions of this section shall not be subject to
247	244		qualified domestic orders as p rovided in subsection B of Section 49 -
248	245		126 of this title.
249	246		G. 1. For purposes of this section, if a person makes a
250	247		qualified disclaimer with respect to the death benefit provided for
251	248		in subsection A of this section, this section shall apply with
252	249		respect to such death benefit as if the death benefit had never been
253	250		transferred to such person.
254	251		2. For purposes of this su bsection, the term “qualified
255	252		disclaimer” means an irrevocable and unqualified refusal by a
256	253		person, including but not limited to the surviving spouse of the
257	254		deceased member, to accept an interest in the death benefit provided
258	255		for in subsection A of this section, but only if:
259	256		a. such refusal is in writing,
260	257		b. such writing is received by the System not later than
261	258		the date which is nine (9) mon ths after the date of
262	259		death of the deceased member,
263	260		c. such person has not accepted the death benefit
264	261		provided for in subsection A of this section, and
265	262		d. as a result of such refusal, the death benefit
266	263		provided for in subsection A of this section passes
267	264		without any direction on the part of the person making
268	265
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295	291		the disclaimer and passes first, to the organization
296	292		providing funeral and burial services for the deceased
297	293		member or, if the cost of the funeral and burial
298	294		services for the deceased member has already b een
299	295		paid, to the person or persons other than the person
300	296		making the disclaimer as further provided for in this
301	297		section.
302	298		SECTION 2. AMENDATORY 11 O.S. 2021, Section 50 -115.2, is
303	299		amended to read as follows:
304	300		Section 50-115.2. Upon the death of an active or retired
305	301		member, the Oklahoma Police Pension and Retirement System shall pay
306	302		to the beneficiary of the member under paragraph 13 of Section 50 -
307	303		101 of this title or if there is no such beneficiary or if such
308	304		beneficiary predeceases t he member, to the member ’s estate or, if
309	305		properly designated by the member, to a trust, the sum of Four
310	306		Thousand Dollars ($4,000.00) as a death benefit for those active or
311	307		retired members who died prior to July 1, 1999. For those active or
312	308		retired members who die on or after July 1, 1999, but prior to the
313	309		effective date of this act, the sum shall be Five Thousand Dollars
314	310		($5,000.00). For those active or retired members who die on or
315	311		after the effective date of this act, the sum shall be Seven
316	312		Thousand Five Hundred Dollars ($7,500.00).
317	313		SECTION 3. AMENDATORY 47 O.S. 2021, Section 2 -306.3, is
318	314		amended to read as follows:
319	315
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346	341		Section 2-306.3. Upon the death of an active or retired member,
347	342		the Oklahoma Law Enforcement Retirement System shall p ay to the
348	343		designated beneficiary of the member as defined in paragraph 17 of
349	344		Section 2-300 of this title or if there is no such designated
350	345		beneficiary or if such designated beneficiary predeceases the
351	346		member, to the estate of the member, the sum of Fou r Thousand
352	347		Dollars ($4,000.00) as a death benefit for those active or retired
353	348		members who died prior to July 1, 1999. For those active or retired
354	349		members who die on or after July 1, 1999, but prior to the effective
355	350		date of this act, the sum shall be Five Thou sand Dollars
356	351		($5,000.00). For those active or retired members who die on or
357	352		after the effective date of this act, the sum shall be Seven
358	353		Thousand Five Hundred Dollars ($7,500.00).
359	354		SECTION 4. AMENDATORY 62 O.S. 2021, Section 3 103, as
360	355		last amended by Section 1, Chapter 306, O.S.L. 2022 (62 O.S. Supp.
361	356		2023, Section 3103), is amended to read as follows:
362	357		Section 3103. As used in the Oklahoma Pension Legislation
363	358		Actuarial Analysis Act:
364	359		1. “Amendment” means any amendment, including a s ubstitute
365	360		bill, made to a retirement bill by any committee of the House of
366	361		Representatives or Senate, any conference committee of the House or
367	362		Senate or by the House or Senate;
368	363		2. “RB number” means that number preceded by the letters “RB”
369	364		assigned to a retirement bill by the respective staffs of the
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397	391		Oklahoma State Senate and the Oklahoma House of Representatives when
398	392		the respective staff office prepares a retirement bill for a member
399	393		of the Legislature;
400	394		3. “Legislative Actuary” means the firm or entity th at enters
401	395		into a contract with the Legislative Service Bureau pursuant to
402	396		Section 452.15 of Title 74 of the Oklahoma Statutes to provide the
403	397		actuarial services and other duties provided for in the Oklahoma
404	398		Pension Legislation Actuarial Analysis Act;
405	399		4. “Nonfiscal amendment” means an amendment to a retirement
406	400		bill having a fiscal impact, which amendment does not chang e any
407	401		factor of an actuarial investigation specified in subsection A of
408	402		Section 3109 of this title;
409	403		5. “Nonfiscal retirement bill ” means a retirement bill:
410	404		a. which does not affect the cost or funding factors of a
411	405		retirement system,
412	406		b. which affects such factors only in a manner which does
413	407		not:
414	408		(1) grant a benefit increase under the retirement
415	409		system affected by the bill,
416	410		(2) create an actuarial accrued liability for or
417	411		increase the actuarial accrued liability of the
418	412		retirement system affected by the bill, or
419	413		(3) increase the normal cost of the retirement system
420	414		affected by the bill,
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448	441		c. which authorizes the purchase by an active member of
449	442		the retirement system, at the actuarial cost for the
450	443		purchase as computed pursuant to the statute in effect
451	444		on the effective date of the measure allowing such
452	445		purchase, of years of service for purposes of reaching
453	446		a normal retirement date in the applicable r etirement
454	447		system, but which cannot be used in order to compute
455	448		the number of years of service for purposes of
456	449		computing the retirement benefit for the member,
457	450		d. which provides for the computation of a service -
458	451		connected disability retirement benefit for member s of
459	452		the Oklahoma Law Enforcement Retirement System
460	453		pursuant to Section 2 -305 of Title 47 of the Oklahoma
461	454		Statutes if the members were unable to complete twenty
462	455		(20) years of service as a result of the disability,
463	456		e. which requires membership in the de fined benefit plan
464	457		authorized by Section 901 et seq. of Title 74 of the
465	458		Oklahoma Statutes for persons whose first elec ted or
466	459		appointed service occurs on or after November 1, 2018,
467	460		if such persons had any prior service in the Oklahoma
468	461		Public Employees Retiremen t System prior to November
469	462		1, 2015,
470	463		f. which provides for a one -time increase in retirement
471	464		benefits if the increase in retirement benefits is not
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499	491		a permanent increase in the gross annual retirement
500	492		benefit payable to a member or beneficiary, occurs
501	493		only once pursuant to a single statutory authorization
502	494		and does not exceed:
503	495		(1) the lesser of two percent (2%) of the gr oss
504	496		annual retirement benefit of the member or One
505	497		Thousand Dollars ($1,000.00) and requires that
506	498		the benefit may only be provided if the fund ed
507	499		ratio of the affected retirement system would not
508	500		be less than sixty percent (60%) but not greater
509	501		than eighty percent (80%) after the benefit
510	502		increase is paid,
511	503		(2) the lesser of two percent (2%) of the gross
512	504		annual retirement benefit of the member or One
513	505		Thousand Two Hundred Dollars ($1,200.00) and
514	506		requires that the benefit may only be provided if
515	507		the funded ratio of the affected retirement
516	508		system would be greater than eighty percent (80%)
517	509		but not greater than one hundred percent (100%)
518	510		after the benefit increase is paid,
519	511		(3) the lesser of two percent (2%) of the gross
520	512		annual retirement benefit of the member or One
521	513		Thousand Four Hundred Dollars ($1,400.00) and
522	514		requires that the benefit may only be provided if
523	515
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550	541		the funded ratio of the affected retireme nt
551	542		system would be greater than one hundred percent
552	543		(100%) after the benefit increase is paid, or
553	544		(4) the greater of two percent (2%) of the gross
554	545		annual retirement benefit of the volunteer
555	546		firefighter or One Hundred Dollars ($100.00) for
556	547		persons who retired f rom the Oklahoma
557	548		Firefighters Pension and Retirement System as
558	549		volunteer firefighters and who did not retire
559	550		from the Oklahoma Firefighters Pension and
560	551		Retirement System as a paid firefighter.
561	552		As used in this subparagraph, “funded ratio” means the
562	553		figure derived by dividing the actuarial value of
563	554		assets of the applicable retirement system by the
564	555		actuarial accrued liab ility of the applicable
565	556		retirement system,
566	557		g. which modifies the disability pension standard for
567	558		police officers who are members of the Oklaho ma Police
568	559		Pension and Retirement System as provided by Section 3
569	560		of this act Section 50-115 of Title 11 of the Oklahoma
570	561		Statutes,
571	562		h. which provides a cost -of-living benefit increase
572	563		pursuant to the provisions of:
573	564
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599	589
600	590		(1) Section 49-143.7 of Title 11 of the Oklahoma
601	591		Statutes,
602	592		(2) Section 50-136.9 of Title 11 of the Oklahoma
603	593		Statutes,
604	594		(3) Section 1104K of Title 20 of the Ok lahoma
605	595		Statutes,
606	596		(4) Section 2-305.12 of Title 47 of the Oklahoma
607	597		Statutes,
608	598		(5) Section 17-116.22 of Title 70 of the Oklahoma
609	599		Statutes, and
610	600		(6) Section 930.11 of Title 74 of the Oklahoma
611	601		Statutes, or
612	602		i. which modifies the computation of the line -of-duty
613	603		disability benefit pursuant to the provisions of this
614	604		act this section and Sections 50 -101 and 50-115 of
615	605		Title 11 of the Oklahoma Statutes, or
616	606		j. which provides for an increase in the death benefit
617	607		for active or retired members of the Oklahoma
618	608		Firefighters Pension and Retirement System, Oklahoma
619	609		Police Pension and Retirement System, or Oklahoma Law
620	610		Enforcement Retirement System pursuant to Section s 1
621	611		through 3 of this act .
622	612		A nonfiscal retirement bill shall include any retirement bill that
623	613		has as its sole purpose the appropriation or distribution or
624	614
625		-	SENATE FLOOR VERSION - HB1824 SFLR Page 13
626		-	(Bold face denotes Committee Amendments) 1
	615	+	Req. No. 3722 Page 13 1
627	616		2
628	617		3
629	618		4
630	619		5
631	620		6
632	621		7
633	622		8
634	623		9
635	624		10
636	625		11
637	626		12
638	627		13
639	628		14
640	629		15
641	630		16
642	631		17
643	632		18
644	633		19
645	634		20
646	635		21
647	636		22
648	637		23
649	638		24
650	639
651	640		redistribution of monies in some manner to a retirement system for
652	641		purposes of reducing the unfun ded liability of such system or the
653	642		earmarking of a portion of the revenue from a tax to a retirement
654	643		system or increasing the percentage of the revenue earmarked from a
655	644		tax to a retirement system;
656	645		6. "Reduction-in-cost amendment" means an amendment to a
657	646		retirement bill having a fiscal impact which reduces the cost of the
658	647		bill as such cost is determined by the actuarial investigation for
659	648		the bill prepared pursuant to Section 3109 of this title;
660	649		7. "Retirement bill" means any bill or joint resolution
661	650		introduced or any bill or joint resolution amended by a member of
662	651		the Oklahoma Legislature which creates or amends any law directly
663	652		affecting a retirement system. A retirement bill shall not mean a
664	653		bill or resolution that impacts the revenue of any state tax in
665	654		which a portion of the revenue generated from such tax is earmarked
666	655		for the benefit of a retirement system;
667	656		8. "Retirement bill having a fiscal impact" means any
668	657		retirement bill creating or establishing a retirement system and any
669	658		other retirement bill other than a nonfiscal retirement bill; and
670	659		9. "Retirement system" means the Teachers' Retirement System of
671	660		Oklahoma, the Oklahoma Public Employees Retirement System, the
672	661		Uniform Retirement System for Justices and Judges, the Oklahoma
673	662		Firefighters Pension and Retirement System, the Oklahoma Police
674	663		Pension and Retirement System, the Oklahoma Law Enforcement
675	664
676		-	SENATE FLOOR VERSION - HB1824 SFLR Page 14
677		-	(Bold face denotes Committee Amendments) 1
	665	+	Req. No. 3722 Page 14 1
678	666		2
679	667		3
680	668		4
681	669		5
682	670		6
683	671		7
684	672		8
685	673		9
686	674		10
687	675		11
688	676		12
689	677		13
690	678		14
691	679		15
692	680		16
693	681		17
694	682		18
695	683		19
696	684		20
697	685		21
698	686		22
699	687		23
700	688		24
701	689
702	690		Retirement System, or a retirement system established after January
703	691		1, 2006.
704	692		SECTION 5. Sections 1 through 3 of this act shall become
705	693		effective November 1, 2024.
706	694		SECTION 6. Section 4 of this act shall become effective October
707	695		1, 2024.
708		-	~~COMMITTEE REPORT BY: COMMITTEE ON RETIREMENT AND INSURANCE~~
709		-	~~April~~ 9, 2024 ~~- DO PASS AS AMENDED BY CS~~
	696	+
	697	+	59-2-3722 RD 4/9/2024 3:09:22 PM