SENATE FLOOR VERSION – SB434 SFLR Page 1
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SENATE FLOOR VERSION
February 7, 2023
SENATE BILL NO. 434 By: Montgomery
An Act relating to public retirement syst ems;
directing systems to promulgate certain rules;
providing for codification; and providing an
effective date.
BE IT ENACTED BY THE PEOPLE OF THE STATE OF OKLAHOMA:
SECTION 1. NEW LAW A new section of law to be codified
in the Oklahoma Statutes as Section 945 of Title 74, unless there is
created a duplication i n numbering, reads as follows:
Each state retirement system, including the Oklahoma Public
Employees Retirement System, Uniform Retirement System for Justices
and Judges, Teachers ’ Retirement System of Oklahoma, Oklahoma
Firefighters Pension and Retirement System, Oklahoma Law Enforcement
Retirement System, and Oklahoma Police Pension and Retirement
System, shall adopt any administrative rules deemed necessary by the
system to ensure compliance with regulatory requirements of the
Internal Revenue Service.
SECTION 2. This act shall become effective November 1, 2023.
COMMITTEE REPORT BY: COMMITTEE ON RETIREMENT AND INSURANCE
February 7, 2023 - DO PASS