Oklahoma 2025 Regular Session

Oklahoma House Bill HB1729 Compare Versions

Version 1 (Old)

Version 2 (New)

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29		-	SENATE FLOOR VERSION
30		-	April 15, 2025
	28	+	STATE OF OKLAHOMA
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	30	+	1st Session of the 60th Legislature (2025)
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33	32		COMMITTEE SUBSTITUTE
34	33		FOR ENGROSSED
35		-	HOUSE BILL ~~NO.~~ 1729 By: Moore of the House
	34	+	HOUSE BILL 1729 By: Moore of the House
36	35
37	36		and
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39	38		Weaver of the Senate
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	43	+
	44	+	COMMITTEE SUBSTITUTE
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45	46		An Act relating to the Oklahoma Public Employees
46	47		Retirement System; amending 74 O.S. 2021, Section
47	48		914, which relates to retirement; authorizing
48	49		postretirement employment for certain retirees;
49	50		providing limitations; providing for codification;
50	51		and providing an effective date.
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55	56		BE IT ENACTED BY THE PEOPLE OF THE STATE OF OKLAHOMA:
56	57		SECTION 1. AMENDATORY 74 O.S. 2021, Section 914, is
57	58		amended to read as follows:
58	59		Section 914. A. The normal retirement date for a member of the
59	60		Oklahoma Public Employees Retirement System shall be as defined in
60	61		Section 902 of this title, provided members employed on or after
61	62		January 1, 1983, shall have six (6) or more years of full -time-
62	63		equivalent employment with a participating employer before receiving
63	64		any retirement benefits or , if the member is a legislative session
64		-	employee of the Legislature, shall have three (3) or more years of
65		-	full-time-equivalent employment with a participating employer before RBS No. 2017
	65	+	employee of the Legislature, shall have three (3) or more years of RBS No. 2017
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	92	+	full-time-equivalent employment with a participating employer before
93	93		receiving any retirement benefits. In no event shall a normal
94	94		retirement date for a member be before six (6) months after the
95	95		entry date of the participating employer by whom he or she is
96	96		employed.
97	97		B. A member may be employed beyond the normal retirement date
98	98		by the appointing authority of the participating employer. However,
99	99		the member may not receive retirement pay so long as the member
100	100		continues employment under this act Section 901 et seq. of this
101	101		title. Any member who has terminated employment with a
102	102		participating employer prior to the month immediately preceding said
103	103		the member’s normal retirement date must elect a vested benefit
104	104		pursuant to Section 917 of this title before receiving any
105	105		retirement benefits.
106	106		C. Notice for retirement shall be filed through the retirement
107	107		coordinator for the participating employer in such form and manner
108	108		as the Board Oklahoma Public Employees Retirement System Board of
109	109		Trustees shall prescribe; provided, that such notic e for retirement
110	110		shall be filed with the office of the retirement system at least
111	111		sixty (60) days prior to the date selected for the member ’s
112	112		retirement; provided further, that the Executive Director may waive
113	113		the sixty-day notice for good cause shown as defined by the Board.
114	114		1. The participating employer shall provide the System with the
115	115		following information for a retiring member, no late r than the RBS No. 2017
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143	142		fifteenth day of the month of retirement: last day physically on
144	143		the job; last day on payroll; and final u nused sick leave balance.
145	144		2. Failure to submit this information by the deadline, or
146	145		errors in submitted information that result in a disquali fication of
147	146		retirement eligibility , shall be the responsibility of the
148	147		participating employer. In cases where the error results in
149	148		disqualification of retirement eligibility, it is the participating
150	149		employer’s responsibility to reemploy the member, or retain the
151	150		member on the payroll, for time period required to reach
152	151		eligibility, not exceeding two (2) months.
153	152		D. No retirement benefits shall be payable to any member until
154	153		the first day of the month following the termination of the member ’s
155	154		employment with any participating employer. The type of retirement
156	155		benefit selected by a member may not be changed on or after the
157	156		effective date of the member ’s retirement. Receipt of workers ’
158	157		compensation benefits shall in no respect disqualify the retiree for
159	158		benefits.
160	159		E. If a retiree should be elected or appointed to any position
161	160		or office for which compensation for service i s paid from levies or
162	161		taxes imposed by the state or any political subdivision thereof, the
163	162		retiree shall not receive any retirement benefit fo r any month for
164	163		which the retiree serves in such position or office after the
165	164		retiree has received compensation in a sum equal to the amount
166	165		allowable as wages or earnings by the Social Security Administration RBS No. 2017
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194	192		in any calendar year. This subsection sha ll not apply to service
195	193		rendered by a retiree as a juror, as a witness in any legal
196	194		proceeding or action, as an electi on board judge or clerk, or in any
197	195		other office or position of a similar nature, or to an employer that
198	196		is not a participating employer. Prov ided, further, that any
199	197		participating employer who is employing such a retiree shall make
200	198		proper written notification to the System informing it of the
201	199		beginning date of such retiree ’s employment and the date such
202	200		retiree reaches the maximum compensati on allowed by this section in
203	201		the calendar year. Any retiree returning to work for a
204	202		participating employer shall mak e contributions to the System and
205	203		the employer shall do likewise. All retirees who have returned to
206	204		employment and participation in the Syste m following retirement
207	205		shall have post-retirement benefits calculated on one of the
208	206		following methods:
209	207		1. All service accumulated from date of reemployment shall be
210	208		computed based on the benefit formula applicable at that time and
211	209		the additional benef its shall be added to the previous benefits.
212	210		Such additional benefits shall be calculated each year based upon
213	211		additional service accrued from July 1 to June 30 of the previous
214	212		year and the additional benefit, if any, will be added to the
215	213		retiree’s monthly benefit beginning January 1, 2000, and each
216	214		January 1 thereafter. However, the post -retirement service credit
217	215		shall be cumulative, beginning with service credit accrued after the RBS No. 2017
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245	242		date of retirement, provided that the retiree has not received a
246	243		distribution of the post-retirement contributions .;
247	244		2. Any retiree who returns to employment with a participating
248	245		employer may elect not to receive any retirement benefits while so
249	246		reemployed. If such an election is made and reemployment is for a
250	247		minimum period of th irty-six (36) consecutive months, all service
251	248		accumulated from date of reemployment shall be participating
252	249		service. For purposes of determining the retirement benefits of
253	250		such a member upon the termination of such reemployment all
254	251		creditable service o f the member shall be computed based on the
255	252		benefit formula applicable at the time of termination of such
256	253		reemployment. Provided, a retiree who became reemployed prior to
257	254		July 1, 1982, and who is reemployed for a minimum of thirty -six (36)
258	255		consecutive months shall have all the creditable service of such
259	256		retiree computed based on the benefit formula applicable at the time
260	257		of termination of such reemployment if the retiree elects not to
261	258		receive retirement benefits prior to such termination of
262	259		reemployment. A retiree who has waived receipt of the monthly
263	260		benefit, but is not reemployed for the full thirty -six (36)
264	261		consecutive months, shall upon termination of such reemployment have
265	262		only the additional amount added to his or her benefit as if they
266	263		had not waived the benefit as provided in paragraph 1 of this
267	264		subsection.; RBS No. 2017
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295	291		3. All post-retirement additional benefits shall be calculated
296	292		using actual hours worked as well as the actual compensation
297	293		received and upon which contributions are paid. Post -retirement
298	294		service is not subject to the partial year round -up provisions of
299	295		subsection C of Section 913 of this title .; or
300	296		4. A retired member who returns to work for a participating
301	297		employer pursuant to this section shall be bound by the election
302	298		made pursuant to paragrap h (2) of subsection A of Section 915 of
303	299		this title if the member had made such election prior to retirement.
304	300		If the member had not made such election prior to retirement, the
305	301		member may do so during the member ’s reemployment with a
306	302		participating employer pursuant to this section. A Except as
307	303		provided in Section 2 of this act, a retired member may not be
308	304		rehired by their former employer, nor may the retired member be
309	305		permitted to enter into an employment contract of any kind with a
310	306		former employer, for a p eriod of one (1) year after the retired
311	307		member ended his or her employment with the former employer unless
312	308		the retired member waives his or her benefit under paragraph 2 of
313	309		this subsection and returns as a bona fide employee.
314	310		F. Except as otherwise pr ovided by subsection G of this
315	311		section, any member may elect to retire before his or her normal
316	312		retirement date on the first day of any month coinciding with or
317	313		following the attainment of age fifty -five (55), provided such
318	314		member has completed ten (10) years of participating service, but in RBS No. 2017
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346	341		no event before six (6) months after the entry date. Any member who
347	342		shall retire before the normal retirement date shall receive an
348	343		annual retirement benefit adjusted in accordance with the following
349	344		percentage schedule:
350	345		Percentage of Normal
351	346		Age Retirement Benefit
352	347		62 100.00%
353	348		61 93.33%
354	349		60 86.67%
355	350		59 80.00%
356	351		58 73.33%
357	352		57 66.67%
358	353		56 63.33%
359	354		55 60.00%
360	355		G. Any member whose first participating service occurs on or
361	356		after November 1, 2011, may elect to retire before his or her norma l
362	357		retirement date on the first day of any month coinciding with or
363	358		following the attainment of age sixty (60), provided such member has
364	359		completed ten (10) years of participating service, but in no event
365	360		before six (6) months after the entry date. Any member who shall
366	361		retire before the normal retirement date shall receive an annual
367	362		retirement benefit adjusted in accor dance with the following
368	363		percentage schedule:
369	364		Percentage of Normal RBS No. 2017
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397	391		Age Retirement Benefit
398	392		65 100.00%
399	393		64 93.33%
400	394		63 86.67%
401	395		62 80.00%
402	396		61 73.33%
403	397		60 66.67%
404	398		SECTION 2. NEW LAW A new section of law to be codified
405	399		in the Oklahoma Statutes as Section 914.1 of Title 74, unless there
406	400		is created a duplication in numbering, reads as follows:
407	401		A retired district attorney or assis tant district attorney may
408	402		enter into postretirement employment with a district attorney ’s
409	403		office or the Oklahoma Indi gent Defense System and receive monthly
410	404		retirement benefits subject to the following limitations:
411	405		1. A retired district attorney or assistant district attorney
412	406		is not eligible to be employed within a district attorney ’s office
413	407		or the Oklahoma Indigent Defense System, in any capacity, for sixty
414	408		(60) calendar days between the retiree ’s last day of preretirement
415	409		employment and any postretireme nt employment. For purposes of this
416	410		section, the term “last day of preretirement employment ” shall mean
417	411		the last day the employee is required to be physically present on
418	412		the job to complete the terms of the employment contract or
419	413		agreement. An employee on pa id leave is considered to be employed
420	414		for purposes of this section. Employment under any conditions RBS No. 2017
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448	441		during this time, volunteer services for the purpose of obtaining a
449	442		paid position at a later date, or payment at a later time for
450	443		services performed du ring this time period, shall cause the
451	444		forfeiture of all retirement benefits received during the period;
452	445		and
453	446		2. Unless otherwise provided in this section, earnings from
454	447		employment pursuant to this section may not exceed one -half (1/2) of
455	448		the member’s final average salary used in computing retirement
456	449		benefits, or the earnings limitation for employees allowed by the
457	450		Social Security Administration, whichever is less. For purposes of
458	451		this paragraph, the following shall apply:
459	452		a. the earnings limitation for em ployees allowed by the
460	453		Social Security Administration to workers between
461	454		sixty-two (62) and sixty-five (65) years of age shall
462	455		apply to retired members below sixty -two (62) years of
463	456		age,
464	457		b. the limit on allowed earnings from a district
465	458		attorney’s office or the Oklahoma Indigent Defense
466	459		System shall be automatically adjusted effective the
467	460		first day of January of each year to reflect the
468	461		current earnings limitation for employees as
469	462		determined from time to time by the Social Security
470	463		Administration, RBS No. 2017
471	464
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498	490		c. the earnings limit for the calendar year in which a
499	491		member retires shall be one -twelfth (1/12) of the
500	492		annual limit multiplied by the number of months the
501	493		member is eligible to work and receive payments from a
502	494		district attorney’s office or the Oklahoma Indigent
503	495		Defense System,
504	496		d. earnings in excess of the maximum limit on allowed
505	497		earnings from a district attorney’s office or the
506	498		Oklahoma Indigent Defense System shall result in a
507	499		loss of future retirement benefits for the year the
508	500		postretirement employment was performed of One Dollar
509	501		($1.00) for each One Dollar ($1.00) earned over the
510	502		maximum allowed earnings amount, and
511	503		e. for those members seventy (70) years of age and older,
512	504		the earnings in excess of the maximum limit on allowed
513	505		earnings from a district attorney’s office or the
514	506		Oklahoma Indigent Defense System shall be one -half
515	507		(1/2) the member’s final average salary used in
516	508		computing retirement benefits.
517	509		SECTION 3. This act shall become effective November 1, 2025.
518		-	COMMITTEE REPORT BY: COMMITTEE ON RETIREMENT AND GOVERNMENT
519		-	RESOURCES
520		-	April 15, 2025 - DO PASS AS AMENDED BY CS
	510	+
	511	+	60-1-2017 RD 4/15/2025 11:38:21 AM