1 | 1 | | RBH No. 10048 |
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27 | 27 | | |
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28 | 28 | | STATE OF OKLAHOMA |
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29 | 29 | | |
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30 | 30 | | 1st Session of the 60th Legislature (2025) |
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31 | 31 | | |
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32 | 32 | | HOUSE BILL 1334 By: Humphrey |
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33 | 33 | | |
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34 | 34 | | |
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35 | 35 | | |
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36 | 36 | | |
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37 | 37 | | |
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38 | 38 | | AS INTRODUCED |
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39 | 39 | | |
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40 | 40 | | An Act relating to public retirement systems; |
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41 | 41 | | amending 74 O.S. 2021, Sections 1316.2, as amended by |
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42 | 42 | | Section 5, Chapter 245, O.S.L. 2024 , and 1316.3 (74 |
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43 | 43 | | O.S. Supp. 2024, Section 1316.2) , which relate to |
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44 | 44 | | insurance benefits; modifying the monthly premium |
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45 | 45 | | amount for health insurance; and providing an |
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46 | 46 | | effective date. |
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47 | 47 | | |
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48 | 48 | | |
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49 | 49 | | |
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50 | 50 | | |
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51 | 51 | | |
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52 | 52 | | BE IT ENACTED BY THE PEOPLE OF THE STATE OF OKLAHOMA: |
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53 | 53 | | SECTION 1. AMENDATORY 74 O.S. 2021, Section 1316.2, as |
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54 | 54 | | amended by Section 5, Chapter 245, O.S.L. 2024 (74 O.S. Supp. 2024, |
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55 | 55 | | Section 1316.2), is amended to read as follows: |
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56 | 56 | | Section 1316.2. A. Any employee, other than an education |
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57 | 57 | | employee, who retires pursuant to the provisions of the Oklahoma |
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58 | 58 | | Public Employees Retirement System or who has a vested benefit |
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59 | 59 | | pursuant to the provisions of the Oklahoma Public Employees |
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60 | 60 | | Retirement System may continue in force the health and dental |
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61 | 61 | | insurance benefits authorized by the provisions of the Oklahoma |
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62 | 62 | | Employees Insurance and Benefit s Act, or other employer insurance |
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63 | 63 | | benefits if the employer does not participate in the plans offered RBH No. 10048 |
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64 | 64 | | |
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89 | 89 | | |
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90 | 90 | | by the Office of Management and Enterprise Services, if such |
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91 | 91 | | election to continue in force is made within thirty (30) days from |
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92 | 92 | | the date of termination of service. Except as otherwise provided |
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93 | 93 | | for in subsection H of this section, health and dental insurance |
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94 | 94 | | coverage may not be reinstated at a later time if the election to |
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95 | 95 | | continue in force is declined. Vested employees other than |
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96 | 96 | | education employees who h ave terminated service and are not |
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97 | 97 | | receiving benefits and effective July 1, 1996, nonvested persons who |
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98 | 98 | | have terminated service with more than eight (8) years of |
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99 | 99 | | participating service with a participating employer, who within |
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100 | 100 | | thirty (30) days from the date of termination of service elect to |
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101 | 101 | | continue such coverage, shall pay the full cost of the insurance |
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102 | 102 | | premium at the rate and pursuant to the terms and conditions |
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103 | 103 | | established by the Office. Provided also, any employee other than |
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104 | 104 | | an education employee who c ommences employment with a participating |
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105 | 105 | | employer on or after September 1, 1991, who terminates service with |
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106 | 106 | | such employer on or after July 1, 1996, but who otherwise has |
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107 | 107 | | insufficient years of service to retire or terminate service with a |
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108 | 108 | | vested benefit pursuant to the provisions of the Oklahoma Public |
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109 | 109 | | Employees Retirement System or to elect to continue coverage as a |
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110 | 110 | | nonvested employee as provided in this section, but who, immedia tely |
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111 | 111 | | prior to employment with the participating employer, was covered as |
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112 | 112 | | a dependent on the health and dental insurance policy of a spouse |
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113 | 113 | | who was an active employee other than an education employee, may RBH No. 10048 |
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139 | 139 | | |
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140 | 140 | | count as part of his or her credited service for the purpose of |
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141 | 141 | | determining eligibility to elect to continue coverage under this |
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142 | 142 | | section, the time during which the terminating employee was covered |
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143 | 143 | | as such a dependent. |
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144 | 144 | | B. 1. Health insurance benefit plans offered pursuant to this |
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145 | 145 | | section shall include: |
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146 | 146 | | a. indemnity plans offered through the Office, |
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147 | 147 | | b. managed care plans offered as a lternatives to the |
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148 | 148 | | indemnity plans offered through the Office, |
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149 | 149 | | c. Medicare supplements offered pursuant to the Oklahoma |
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150 | 150 | | Employees Insurance and Benefits Act, |
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151 | 151 | | d. Medicare risk-sharing contracts offered as |
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152 | 152 | | alternatives to the Medicare supplements offered |
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153 | 153 | | through the Office. All Medicare risk -sharing |
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154 | 154 | | contracts shall be subject to a risk adjustment |
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155 | 155 | | factor, based on generally accepted actuarial |
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156 | 156 | | principles for adverse selection which m ay occur, and |
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157 | 157 | | e. for the Oklahoma Public Employees Retirement System, |
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158 | 158 | | other employer-provided health insurance benefit plans |
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159 | 159 | | if the employer does not participate in the plans |
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160 | 160 | | offered pursuant to the Oklahoma Employees Insurance |
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161 | 161 | | and Benefits Act. |
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162 | 162 | | 2. Health insurance benefit plans offered pursuant to this |
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163 | 163 | | section shall provide prescription drug benefits, except for plans RBH No. 10048 |
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189 | 189 | | |
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190 | 190 | | designed pursuant to the Medicare Prescription Drug Improvement and |
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191 | 191 | | Modernization Act, pursuant to 42 USCA Section 1395w -101, et seq., |
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192 | 192 | | for which provision of prescription drug benefits is optional, and |
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193 | 193 | | except for plans offered pursuant to subparagraph e of paragraph 1 |
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194 | 194 | | of this subsection. |
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195 | 195 | | C. 1. Designated public retirement systems shall contribute a |
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196 | 196 | | monthly amount towards the health insuranc e premium of certain |
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197 | 197 | | individuals receiving benefits from the public retirement system as |
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198 | 198 | | follows: |
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199 | 199 | | a. a retired employee, other than an education employee |
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200 | 200 | | or an employee who participates in the defined |
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201 | 201 | | contribution system administered by the Oklahoma |
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202 | 202 | | Public Employees Retirement System on or after |
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203 | 203 | | November 1, 2015, who is receiving be nefits from the |
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204 | 204 | | Oklahoma Public Employees Retirement System after |
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205 | 205 | | September 30, 1988, on the effective date of this act |
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206 | 206 | | shall have One Hundred Five Dollars ($105.00) Two |
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207 | 207 | | Hundred Ten Dollars ($210.00) , or the premium rate of |
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208 | 208 | | the health insurance benefit plan, whichever is less, |
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209 | 209 | | paid by the Oklahoma Public Employees Retirement |
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210 | 210 | | System to the Board or to another insurance carrier or |
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211 | 211 | | other qualified benefits administrator of the employ er |
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212 | 212 | | if the employer does not participate in the plans RBH No. 10048 |
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213 | 213 | | |
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238 | 238 | | |
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239 | 239 | | offered by the Office in the manner specified in |
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240 | 240 | | subsection G of this section, |
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241 | 241 | | b. a retired employee or surviving spouse other than an |
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242 | 242 | | education employee who is receiving benefits from the |
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243 | 243 | | Oklahoma Law Enforcement Retirement System after |
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244 | 244 | | September 30, 1988, on the effective date of this act |
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245 | 245 | | is under sixty-five (65) years of age and is not |
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246 | 246 | | otherwise eligible for Medicare shall have the premium |
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247 | 247 | | rate for the health insurance benefit plan or One |
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248 | 248 | | Hundred Five Dollars ($105.00) Two Hundred Ten Dollars |
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249 | 249 | | ($210.00), whichever is less, paid b y the Oklahoma Law |
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250 | 250 | | Enforcement Retirement System to the Office in the |
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251 | 251 | | manner specified in subsection G of this section, |
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252 | 252 | | c. a retired employee other than an education employee |
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253 | 253 | | who is receiving benefits from the Oklahoma Law |
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254 | 254 | | Enforcement Retirement System after September 30, |
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255 | 255 | | 1988, on the effective date of this act is sixty-five |
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256 | 256 | | (65) years of age or older or who is under sixty -five |
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257 | 257 | | (65) years of age and is eligible for Medicare shall |
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258 | 258 | | have One Hundred Five Dollars ($105.00) Two Hundred |
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259 | 259 | | Ten Dollars ($210.00) , or the premium rate of the |
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260 | 260 | | health insurance benefit plan, whichever is less, paid |
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261 | 261 | | by the Oklahoma Law Enforcement Retirement System to RBH No. 10048 |
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262 | 262 | | |
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287 | 287 | | |
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288 | 288 | | the Office in the manner specified in subsecti on G of |
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289 | 289 | | this section, and |
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290 | 290 | | d. a retired employee other than an education employee |
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291 | 291 | | who is receiving benefits from the Uniform Retirement |
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292 | 292 | | System for Justices and Judges after September 30, |
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293 | 293 | | 1988, on the effective date of this act shall have One |
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294 | 294 | | Hundred Five Dollars ($105.00) Two Hundred Ten Dollars |
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295 | 295 | | ($210.00), or the premium rate of the health insurance |
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296 | 296 | | plan, whichever is less, paid by the Uniform |
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297 | 297 | | Retirement System for Justices and Judges to the |
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298 | 298 | | Office in the manner specified in subsection G of this |
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299 | 299 | | section. |
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300 | 300 | | 2. Premium payments made pursuant to this section shall be made |
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301 | 301 | | subject to the following conditions: |
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302 | 302 | | a. the health plan shall be authorized by the provisions |
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303 | 303 | | of the Oklahoma Employees Insurance and Benefits Act, |
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304 | 304 | | except that if an employer from which an emplo yee |
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305 | 305 | | retired or with a vested benefit pursuant to the |
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306 | 306 | | provisions of the Oklahom a Public Employees Retirement |
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307 | 307 | | System does not participate in the plans authorized by |
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308 | 308 | | the provisions of the Oklahoma Employees Insurance and |
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309 | 309 | | Benefits Act, the health plan will be the health |
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310 | 310 | | insurance benefits of the employer from which the |
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311 | 311 | | individual retired or vested, RBH No. 10048 |
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337 | 337 | | |
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338 | 338 | | b. for plans offered by the Oklahoma Employees Insurance |
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339 | 339 | | and Benefits Act, the amount to be paid shall be |
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340 | 340 | | determined pursuant to the provisions of this |
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341 | 341 | | subsection and shall first be applied in whole or in |
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342 | 342 | | part to the prescription drug coverage premium. Any |
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343 | 343 | | remaining amount shall be applied toward the medical |
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344 | 344 | | coverage premium, |
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345 | 345 | | c. for all plans, if the amount paid by the public |
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346 | 346 | | retirement system does not cover the full cost of the |
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347 | 347 | | elected coverage, the individual shall pay the |
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348 | 348 | | remaining premium amount, and |
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349 | 349 | | d. payment shall be made by the retirement systems in the |
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350 | 350 | | manner specified under subsection G of this section. |
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351 | 351 | | D. For any member of the Oklahoma Law Enforcement Reti rement |
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352 | 352 | | System killed in the line of duty, whether the member was killed in |
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353 | 353 | | the line of duty prior to May 18, 2005, or on or after May 18, 2005, |
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354 | 354 | | or if the member was on a disability leave status at the time of |
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355 | 355 | | death, the surviving spouse or dependents of su ch deceased member of |
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356 | 356 | | the Oklahoma Law Enforcement Retirement System may elect to continue |
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357 | 357 | | or commence health and dental insurance benefits, provided the |
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358 | 358 | | dependents pay the full cost of such insurance, and for deaths |
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359 | 359 | | occurring on or after July 1, 2002, suc h election is made within |
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360 | 360 | | thirty (30) days of the date of death. The eligibil ity for the RBH No. 10048 |
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386 | 386 | | |
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387 | 387 | | benefits shall terminate for the surviving children when the |
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388 | 388 | | children cease to qualify as dependents. |
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389 | 389 | | E. Effective July 1, 2004, a retired member of the Oklahoma Law |
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390 | 390 | | Enforcement Retirement System who retired from the System by means |
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391 | 391 | | of a personal and traumatic injury of a catastrophic nature and in |
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392 | 392 | | the line of duty and any surviving spouse of such retired member and |
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393 | 393 | | any surviving spouse of a member who was killed in t he line of duty |
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394 | 394 | | shall have one hundred percent (100%) of the retired member's or |
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395 | 395 | | surviving spouse's health care premium cost, whether the member or |
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396 | 396 | | surviving spouse elects coverage under the Medicare supplement or |
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397 | 397 | | Medicare risk-sharing contract, paid by th e Oklahoma Law Enforcement |
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398 | 398 | | Retirement System to the Office in the manner specified in |
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399 | 399 | | subsection H of this section. For plans offered by the Office, such |
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400 | 400 | | contributions will first be applied in whole or in part to the |
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401 | 401 | | prescription drug coverage premium, if any. |
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402 | 402 | | F. Dependents of a deceased employee who was on active work |
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403 | 403 | | status or on a disability leave at the time of death or of a |
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404 | 404 | | participating retardant or of any person who has elected to receive |
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405 | 405 | | a vested benefit under the Oklahoma Public Employees Retirem ent |
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406 | 406 | | System, the Uniform Retirement System for Justices and Judges or the |
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407 | 407 | | Oklahoma Law Enforcement Retirement System may continue the health |
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408 | 408 | | and dental insurance benefits in force, provided the dependents pay |
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409 | 409 | | the full cost of such insurance and they were co vered as eligible |
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410 | 410 | | dependents at the time of such death and such election is ma de RBH No. 10048 |
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436 | 436 | | |
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437 | 437 | | within thirty (30) days of date of death. The eligibility for the |
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438 | 438 | | benefits shall terminate for the surviving children when the |
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439 | 439 | | children cease to qualify as dependents. |
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440 | 440 | | G. The amounts required to be paid by the Oklahoma Public |
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441 | 441 | | Employees Retirement System, the Uniform Retirement System for |
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442 | 442 | | Justices and Judges and the Oklahoma Law Enforcement Retirement |
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443 | 443 | | System pursuant to this section shall be forwarded no later than the |
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444 | 444 | | tenth day of each month following the month for which payment is due |
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445 | 445 | | by the Oklahoma Public Employees Retirement System Board of Trustees |
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446 | 446 | | or the Oklahoma Law Enforcement Retirement Board to the Office for |
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447 | 447 | | deposit in the Health, Dental and Life Insurance Reserve F und or to |
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448 | 448 | | another insurance carrier or other administrator of qualified |
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449 | 449 | | benefits of the employer as provided for in subsection H of Section |
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450 | 450 | | 1315 of this title. |
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451 | 451 | | H. Upon retirement from employment of the Board of Regents of |
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452 | 452 | | the University of Oklahoma, any p erson who was or is employed at the |
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453 | 453 | | George Nigh Rehabilitation Institute and w ho transferred employment |
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454 | 454 | | pursuant to Section 3427 of Title 70 of the Oklahoma Statutes, any |
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455 | 455 | | person who was employed at the Medical Technology and Research |
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456 | 456 | | Authority and who tran sferred employment pursuant to Section 7068 of |
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457 | 457 | | this title and any person who is a member of the Oklahoma Law |
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458 | 458 | | Enforcement Retirement System pursuant to the authority of Section |
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459 | 459 | | 2-314 of Title 47 of the Oklahoma Statutes may participate in the |
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460 | 460 | | benefits authorized by the provisions of the Oklahoma Employees RBH No. 10048 |
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461 | 461 | | |
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486 | 486 | | |
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487 | 487 | | Insurance and Benefits Act f or retired participants including |
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488 | 488 | | health, dental and life insurance benefits, if such election to |
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489 | 489 | | participate is made within thirty (30) days from the date of |
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490 | 490 | | termination of service. Life insurance benefits for any such person |
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491 | 491 | | who transferred employment shall not exceed the coverage the person |
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492 | 492 | | had at the time of such transfer. Retirees who transferred |
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493 | 493 | | employment and who participate pursuant to this paragraph shall pay |
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494 | 494 | | the premium for elected benefits less any amounts paid by a state |
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495 | 495 | | retirement system purs uant to this section. |
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496 | 496 | | SECTION 2. AMENDATORY 74 O.S. 2021, Section 1316.3, is |
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497 | 497 | | amended to read as follows: |
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498 | 498 | | Section 1316.3. A. Any person who retires pur suant to the |
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499 | 499 | | provisions of the Teachers ' Retirement System of Oklahoma with at |
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500 | 500 | | least ten (10) years of creditable service or who has a vested |
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501 | 501 | | benefit with at least ten (10) years of creditable service, pursuant |
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502 | 502 | | to the provisions of the Teachers ' Retirement System of Oklahoma may |
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503 | 503 | | continue in force the health and dental insurance bene fits |
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504 | 504 | | authorized by the provisions of the Oklahoma Employees Insurance and |
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505 | 505 | | Benefits Act if such election to continue in force or begin is made |
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506 | 506 | | within thirty (30) days from the dat e of termination of service. |
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507 | 507 | | Except as provided in subsection E of Sections 5 -117.5 and 14-108.1 |
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508 | 508 | | of Title 70 of the Oklahoma Statutes and Section 840 -2.27I of this |
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509 | 509 | | title and subsection K of this section, health and dental insurance |
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510 | 510 | | coverage may not be rei nstated at a later time if the election to RBH No. 10048 |
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511 | 511 | | |
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512 | 512 | | Req. No. 10048 Page 11 1 |
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536 | 536 | | |
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537 | 537 | | continue in force or begin coverage is declined. Vested persons who |
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538 | 538 | | have terminated service and are not receiving benefits and effective |
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539 | 539 | | July 1, 1996, nonvested persons who have terminated service with |
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540 | 540 | | more than ten (10) years of participating service with a qualifying |
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541 | 541 | | employer, who within thirty (30) days from the date of termination |
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542 | 542 | | of service, elect to continue such coverage, shall pay the full cost |
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543 | 543 | | of said insurance premium at the rate and pursuant to the term s and |
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544 | 544 | | conditions established by the Office of Management and Enterprise |
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545 | 545 | | Services. |
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546 | 546 | | B. 1. Health insurance benefit plans offered pursuant to this |
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547 | 547 | | section shall include: |
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548 | 548 | | a. indemnity plans offered through the Office, |
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549 | 549 | | b. managed care plans offered as alterna tives to the |
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550 | 550 | | indemnity plans, |
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551 | 551 | | c. Medicare supplements offered through the Office, |
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552 | 552 | | d. Medicare risk-sharing contracts offered as |
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553 | 553 | | alternatives to the Medicare supplements offered |
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554 | 554 | | through the Office, and |
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555 | 555 | | e. any other employer-provided health insurance benefit |
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556 | 556 | | plans if the employer does not participate in the |
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557 | 557 | | plans offered pursuant to t he Oklahoma Employees |
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558 | 558 | | Insurance and Benefits Act. |
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559 | 559 | | 2. Health insurance benefit plans offered pursuant to this |
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560 | 560 | | section shall provide prescription drug benefits, except for plans RBH No. 10048 |
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561 | 561 | | |
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562 | 562 | | Req. No. 10048 Page 12 1 |
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586 | 586 | | |
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587 | 587 | | designed pursuant to the Medicare Prescription Drug Improvement and |
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588 | 588 | | Modernization Act of 2003, which may or may not contain prescription |
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589 | 589 | | drug benefits, for which provision of prescription drug benefits is |
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590 | 590 | | optional, and except for plans offered pursuant to s ubparagraph e of |
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591 | 591 | | paragraph 1 of this subsection. |
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592 | 592 | | C. A retired person who: |
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593 | 593 | | 1. Is receiving benefits from the Teachers ' Retirement System |
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594 | 594 | | of Oklahoma after September 30, 1988, is under sixty -five (65) years |
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595 | 595 | | of age and is not otherwise eligible for Medicare and pursuant to |
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596 | 596 | | subsection A of this section elects to begin or to continue the |
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597 | 597 | | health insurance plan; |
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598 | 598 | | 2. Is receiving benefits from the Teachers ' Retirement System |
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599 | 599 | | of Oklahoma after June 30, 1993, is under sixty -five (65) years of |
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600 | 600 | | age and is not otherwi se eligible for Medicare and participates in a |
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601 | 601 | | health insurance plan provided by a participating education employer |
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602 | 602 | | of the Teachers' Retirement System of Oklahoma other than a health |
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603 | 603 | | insurance plan offered pursuant to the Oklahoma Employees Insurance |
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604 | 604 | | and Benefits Act or an alternative health plan offered pursuant to |
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605 | 605 | | the Oklahoma State Employees Benefits Act; |
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606 | 606 | | 3. Is receiving benefits from the Teachers ' Retirement System |
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607 | 607 | | of Oklahoma after September 30, 1988, made contributions to the |
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608 | 608 | | system and is sixty-five (65) years of age or older, or who is under |
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609 | 609 | | sixty-five (65) years of age and is eligible for Medicare and is a |
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610 | 610 | | participant in the Oklahoma Employees Insurance and Benefits Act and RBH No. 10048 |
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611 | 611 | | |
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612 | 612 | | Req. No. 10048 Page 13 1 |
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636 | 636 | | |
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637 | 637 | | elects coverage under the Medicare supplement offered by the Office; |
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638 | 638 | | or |
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639 | 639 | | 4. Is receiving benefits from the Teachers ' Retirement System |
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640 | 640 | | of Oklahoma after June 30, 1993, made contributions to the system |
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641 | 641 | | and is sixty-five (65) years of age or older, or who is under sixty - |
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642 | 642 | | five (65) years of age and is eligible for Medicare and partic ipates |
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643 | 643 | | in a health insurance plan provided by a participating education |
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644 | 644 | | employer of the Teachers' Retirement System of Oklahoma other than a |
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645 | 645 | | health insurance plan offered pursuant to the Oklahoma Employees |
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646 | 646 | | Insurance and Benefits Act or an alternative healt h plan offered |
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647 | 647 | | pursuant to the Oklahoma State Employees Benefits Act and elects |
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648 | 648 | | coverage under the Medicare supplement offered by the Office, |
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649 | 649 | | shall have the amount determined pursuant to subsection E of this |
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650 | 650 | | section, or the premium rate of the health insur ance benefit plan, |
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651 | 651 | | whichever is less, paid by the Teachers ' Retirement System of |
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652 | 652 | | Oklahoma. If the amount paid by the Teachers ' Retirement System of |
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653 | 653 | | Oklahoma does not cover the full cost of the health insurance |
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654 | 654 | | premium, the retired person shall pay the rem aining amount if the |
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655 | 655 | | retired person wants to continue the coverage. |
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656 | 656 | | D. The Teachers' Retirement System shall pay the amount due |
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657 | 657 | | pursuant to the provisions of subsection C of this section as |
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658 | 658 | | follows: |
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659 | 659 | | 1. For those individuals participating in plans provide d |
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660 | 660 | | through the Oklahoma Employees Insurance and Benefits Act, payment RBH No. 10048 |
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661 | 661 | | |
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662 | 662 | | Req. No. 10048 Page 14 1 |
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686 | 686 | | |
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687 | 687 | | shall be made to the Office pursuant to the provisions of subsection |
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688 | 688 | | I of this section; or |
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689 | 689 | | 2. For those individuals participating in plans provided |
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690 | 690 | | through a participating education empl oyer of the Teachers ' |
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691 | 691 | | Retirement System of Oklahoma other than a health insurance plan |
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692 | 692 | | offered pursuant to the Oklahoma Employees Insurance and Benefits |
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693 | 693 | | Act, payment shall be made to the education employer. |
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694 | 694 | | E. Beginning July 1, 2000 November 1, 2025, the maximum benefit |
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695 | 695 | | payable by the Teachers ' Retirement System of Oklahoma on beha lf of |
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696 | 696 | | a retired person toward said person 's monthly premium for health |
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697 | 697 | | insurance shall be determined in accordance with the following |
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698 | 698 | | schedule: |
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699 | 699 | | LESS THAN |
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700 | 700 | | 25 YEARS BUT GREATER |
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701 | 701 | | LESS THAN GREATER THAN THAN 24.99 |
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702 | 702 | | AVERAGE SALARY 15 YEARS OF 14.99 YEARS OF YEARS OF |
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703 | 703 | | USED FOR DETERMINING CREDITABLE CREDITABLE CREDITABLE |
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704 | 704 | | RETIREMENT ALLOWANCE SERVICE SERVICE SERVICE |
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705 | 705 | | Less than $20,000.00 $103.00 $104.00 $105.00 |
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706 | 706 | | Less than $30,000.00 b ut |
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707 | 707 | | greater than $19,999.99 $102.00 $103.00 $104.00 |
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708 | 708 | | Less than $40,000.00 but |
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709 | 709 | | greater than $29,999.99 $101.00 $102.00 $103.00 |
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710 | 710 | | $40,000.00 or greater $100.00 $101.00 $102.00 RBH No. 10048 |
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711 | 711 | | |
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736 | 736 | | |
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737 | 737 | | LESS THAN |
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738 | 738 | | 25 YEARS BUT GREATER |
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739 | 739 | | LESS THAN GREATER THAN THAN 24.99 |
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740 | 740 | | AVERAGE SALARY 15 YEARS OF 14.99 YEARS OF YEARS OF |
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741 | 741 | | USED FOR DETERMINING CREDITABLE CREDITABLE CREDITABLE |
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742 | 742 | | RETIREMENT ALLOWANCE SERVICE SERVICE SERVICE |
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743 | 743 | | Less than $20,000.00 $206.00 $208.00 $210.00 |
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744 | 744 | | Less than $30,000.00 but |
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745 | 745 | | greater than $19,999.99 $204.00 $206.00 $208.00 |
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746 | 746 | | Less than $40,000.00 but |
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747 | 747 | | greater than $29,999.99 $202.00 $204.00 $206.00 |
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748 | 748 | | $40,000.00 or greater $200.00 $202.00 $204.00 |
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749 | 749 | | For plans offered by the Office, the amount paid pursuant to |
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750 | 750 | | this subsection shall first be applied to the prescription drug |
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751 | 751 | | coverage premium, if any. Any remaining amounts shall be applied |
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752 | 752 | | towards the medical coverage premium. |
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753 | 753 | | F. If a person retires and begins to receive benefits from the |
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754 | 754 | | Teachers' Retirement System of Oklahoma or terminates service and |
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755 | 755 | | has a vested benefit with the Teach ers' Retirement System of |
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756 | 756 | | Oklahoma, the person may elect, in the manner provid ed in subsection |
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757 | 757 | | A of this section, to participate in the dental insurance plan |
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758 | 758 | | offered through the Oklahoma Employees Insurance and Benefits Act. |
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759 | 759 | | The person shall pay the full cost of the dental insurance. RBH No. 10048 |
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760 | 760 | | |
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785 | 785 | | |
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786 | 786 | | G. Those persons who are receiving benefits from the Teachers ' |
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787 | 787 | | Retirement System of Oklahoma and have health insurance coverage |
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788 | 788 | | which on the operative date of this section is being paid by the |
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789 | 789 | | education entity from which the person retired shall make the |
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790 | 790 | | election required in subsection A of this secti on within thirty (30) |
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791 | 791 | | days of the termination of said health insurance coverage. The |
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792 | 792 | | person making the election shall give the Office certified |
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793 | 793 | | documentation satisfactory to the Office of the termination date of |
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794 | 794 | | the other health insurance coverage. |
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795 | 795 | | H. Dependents of a deceased education employee who was on |
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796 | 796 | | active work status or on a disability leave at the time of death or |
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797 | 797 | | of a participating retirant or of any person who has elec ted to |
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798 | 798 | | receive a vested benefit under the Teachers ' Retirement System of |
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799 | 799 | | Oklahoma may continue the health and dental insurance benefits in |
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800 | 800 | | force provided said dependents pay the full cost of such insurance |
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801 | 801 | | and they were covered as eligible dependents at th e time of such |
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802 | 802 | | death and such election is made within thirty (30) days of date of |
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803 | 803 | | death. The eligibility for said benefits shall terminate for the |
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804 | 804 | | surviving children when said children cease to qualify as |
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805 | 805 | | dependents. |
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806 | 806 | | I. The amounts required to be paid by the Teachers' Retirement |
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807 | 807 | | System of Oklahoma pursuant to this section shall be forwarded no |
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808 | 808 | | later than the tenth day of each month following the month for which |
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809 | 809 | | payment is due by the Board of Trustees of the Teachers ' Retirement RBH No. 10048 |
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810 | 810 | | |
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835 | 835 | | |
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836 | 836 | | System of Oklahoma to the O ffice for deposit in the Education |
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837 | 837 | | Employees Group Insurance Reserve Fund. |
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838 | 838 | | J. The Teachers' Retirement System of Oklahoma shall provide |
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839 | 839 | | the Office information concerning the employers of retired and |
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840 | 840 | | vested members necessary to allow the Office to track el igibility |
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841 | 841 | | for continued coverage. |
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842 | 842 | | K. Upon retirement from employment with the Board of Regents of |
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843 | 843 | | the University of Oklahoma, any person who is or was employed at the |
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844 | 844 | | George Nigh Rehabilitation Institute and who transferred employment |
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845 | 845 | | pursuant to Section 3427 of Title 70 of the Oklahoma Statutes, any |
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846 | 846 | | person who was employed at the Medical Technology and Research |
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847 | 847 | | Authority and who transferred employment pursuant to Section 7068 of |
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848 | 848 | | this title, and any person who is a member of the Oklahoma Law |
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849 | 849 | | Enforcement Retirement System pursuant to the authority of Section |
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850 | 850 | | 2-314 of Title 47 of the Oklahoma Statutes may participate in the |
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851 | 851 | | benefits authorized by the provisions of the Oklahoma Employees |
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852 | 852 | | Insurance and Benefits Act for retired participants, including |
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853 | 853 | | health, dental and life insurance benefits, if such election to |
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854 | 854 | | participate is made within thirty (30) days from the date of |
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855 | 855 | | termination of employment. Life insurance benefits for any such |
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856 | 856 | | person who transferred employment shall not exceed the coverage the |
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857 | 857 | | person had at the time of such transfer. Retirees who are persons |
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858 | 858 | | transferred employment and who participate pursuant to this RBH No. 10048 |
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859 | 859 | | |
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884 | 884 | | |
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885 | 885 | | paragraph shall pay the premium for elected benefits less any |
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886 | 886 | | amounts paid by the retirement system pursuant to this section. |
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887 | 887 | | SECTION 3. This act shall become effective November 1, 2025. |
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888 | 888 | | |
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889 | 889 | | 60-1-10048 CMA 01/02/25 |
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890 | 890 | | |
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891 | 891 | | THOMAS E. CUMMINS CONSULTING ACTUARY, INC. |
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892 | 892 | | 2512 E. 71 |
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893 | 893 | | st |
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894 | 894 | | Street , Suite D ∙ Tulsa, Oklahoma 74136 |
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895 | 895 | | (918) 492-9658 ∙ (918) 492- 9659 |
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896 | 896 | | |
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897 | 897 | | |
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898 | 898 | | |
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899 | 899 | | |
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900 | 900 | | January 13, 2025 |
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901 | 901 | | |
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902 | 902 | | |
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903 | 903 | | |
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904 | 904 | | Representative Humphrey |
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905 | 905 | | Room 301S |
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906 | 906 | | |
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907 | 907 | | |
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908 | 908 | | Re: RBH No. 10048 |
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909 | 909 | | |
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910 | 910 | | RBH No. 10048 doubles the medical supplement benefit for all the |
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911 | 911 | | State’s retirement systems retired participants. Currently the |
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912 | 912 | | benefit is $105. 00 per month for most participants. Teachers have a |
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913 | 913 | | schedule of payment based on service and benefit. |
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914 | 914 | | |
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915 | 915 | | |
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916 | 916 | | |
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917 | 917 | | RBH No. 10048 is a fiscal bill as defined by OPLAAA. |
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918 | 918 | | |
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919 | 919 | | I am a member of the American Academy of Actuaries and meet the |
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920 | 920 | | Qualification Standards of the American Academy of Actuaries to |
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921 | 921 | | render the actuarial opinion herein. |
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922 | 922 | | |
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923 | 923 | | |
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924 | 924 | | Thomas E. Cummins |
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925 | 925 | | |
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926 | 926 | | Thomas E. Cummins, MAAA |
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927 | 927 | | |
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928 | 928 | | |
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