Oklahoma 2025 Regular Session

Oklahoma House Bill HB1730 Compare Versions

Version 1 (Old)

Version 2 (New)

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1	1		RBH No. 10390
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3		-	SENATE FLOOR VERSION - HB1730 SFLR Page 1
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	2	+	ENGR. H. B. NO. 1730 Page 1 1
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29		-	SENATE FLOOR VERSION
30		-	April 15, 2025
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33	27		ENGROSSED HOUSE
34	28		BILL NO. 1730 By: Moore of the House
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36	30		and
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38	32		Gollihare of the Senate
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43	39		An Act relating to public retirement systems;
44	40		amending 74 O.S. 2021, Section 914, which relates to
45	41		the Oklahoma Public Employees Retirement System;
46	42		modifying postretirement provision; and providing an
47	43		effective date.
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51	49		BE IT ENACTED BY THE PEOPLE OF THE STATE OF OKLAHOMA:
52	50		SECTION 1. AMENDATORY 74 O.S. 2021, Section 914, is
53	51		amended to read as follows:
54	52		Section 914. A. The normal retire ment date for a member of the
55	53		Oklahoma Public Employees Retirement System shall be as defined in
56	54		Section 902 of this title, provided members employed on or after
57	55		January 1, 1983, shall have six (6) or more years of full -time-
58	56		equivalent employment with a pa rticipating employer before receiving
59	57		any retirement benefits or if the member is a legislative session
60	58		employee of the Legislature, shall have three (3) or more years of
61	59		full-time-equivalent employment with a participating employer before
62	60		receiving any retirement benefits. In no event shall a normal
63	61		retirement date for a member be before six (6) months after the RBH No. 10390
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66		-	(Bold face denotes Committee Amendments) 1
	62	+	ENGR. H. B. NO. 1730 Page 2 1
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91	87		entry date of the participating employer by whom he or she is
92	88		employed.
93	89		B. A member may be employed beyond the normal retirement date
94	90		by the appointing authority of the participating employer. Howev er,
95	91		the member may not receive retirement pay so long as the member
96	92		continues employment under this act. Any member who has terminated
97	93		employment with a participating employer prior to the month
98	94		immediately preceding said member 's normal retirement date must
99	95		elect a vested benefit pursuant to Section 917 of this title before
100	96		receiving any retirement benefits.
101	97		C. Notice for retirement shall be filed through the retirement
102	98		coordinator for the participat ing employer in such form and manner
103	99		as the Board shall prescribe; provided, that such notice for
104	100		retirement shall be filed with the office of the retirement system
105	101		at least sixty (60) days prior to the date selected for the member 's
106	102		retirement; provided f urther, that the Executive Director may waive
107	103		the sixty-day notice for good cause shown as defined by the Board.
108	104		1. The participating employer shall provide the System with the
109	105		following information for a retiring member, no later than the
110	106		fifteenth day of the month of retirement: last day physically on
111	107		the job; last day on payroll; and final unused sick leave balance.
112	108		2. Failure to submit this information by the deadline, or
113	109		errors in submitted information that result in a disqualification of
114	110		retirement eligibility shall be the responsibility of the RBH No. 10390
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	111	+	ENGR. H. B. NO. 1730 Page 3 1
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142	136		participating employer. In cases where the error results in
143	137		disqualification of retirement eligibility, it is the participating
144	138		employer's responsibility to reemploy the member, or retain the
145	139		member on the payroll, for time period required to reach
146	140		eligibility, not exceeding two (2) months.
147	141		D. No retirement benefits shall be payable to any member until
148	142		the first day of the month following the termination of the member 's
149	143		employment with any participating empl oyer. The type of retirement
150	144		benefit selected by a member may not be changed on or after the
151	145		effective date of the member 's retirement. Receipt of workers '
152	146		compensation benefits shall in no respect disqualify the retiree for
153	147		benefits.
154	148		E. If a retiree should be elected or appointed to any position
155	149		or office for which compensation for service is paid from levies or
156	150		taxes imposed by the state or any political subdivision thereof, the
157	151		retiree shall not receive any retirement benefit for any month for
158	152		which the retiree serves in such position or office after the
159	153		retiree has received compensation in a sum equal to the amount
160	154		allowable as wages or earnings by the Social Security Administration
161	155		in any calendar year. This subsection shall not apply to service
162	156		rendered by a retiree as a juror, as a witness in any leg al
163	157		proceeding or action, as an election board judge or clerk, or in any
164	158		other office or position of a similar nature, or to an employer that
165	159		is not a participating employer. Provided, further, that an y RBH No. 10390
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	160	+	ENGR. H. B. NO. 1730 Page 4 1
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193	185		participating employer who is employing such a retiree shall make
194	186		proper written notification to the System informing it of the
195	187		beginning date of such retiree 's employment and the date such
196	188		retiree reaches the maximum compensation allowed by this section in
197	189		the calendar year. Any retiree returning to work f or a
198	190		participating employer shall make contributions to the System and
199	191		the employer shall do likewise. All retirees who have returned to
200	192		employment and participation in the System following retirement
201	193		shall have post-retirement benefits calculated on one of the
202	194		following methods:
203	195		1. All service accumulated from date of reemployment shall be
204	196		computed based on the benefit formula applicable at that time and
205	197		the additional benefits shall be added to the previous benefits.
206	198		Such additional benefits shall be c alculated each year based upon
207	199		additional service accrued from July 1 to June 30 of the previous
208	200		year and the additional benefit, if any, will be added to the
209	201		retiree's monthly benefit beginning Januar y 1, 2000, and each
210	202		January 1 thereafter. However, the post -retirement service credit
211	203		shall be cumulative, beginning with service credit accrued after the
212	204		date of retirement, provided that the retiree has not received a
213	205		distribution of the post -retirement contributions.
214	206		2. Any retiree who returns to employme nt with a participating
215	207		employer may elect not to receive any retirement benefits while so
216	208		reemployed. If such an election is made and reemployment is for a RBH No. 10390
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244	234		minimum period of thirty -six (36) consecutive months, all service
245	235		accumulated from date of reemployment shall be participating
246	236		service. For purposes of determining the retirement benefits of
247	237		such a member upon the termination of such reemployment all
248	238		creditable service of the member shall be compu ted based on the
249	239		benefit formula applicable at the time of termination of such
250	240		reemployment. Provided, a retiree who became reemployed prior to
251	241		July 1, 1982, and who is reemployed for a minimum of thirty -six (36)
252	242		consecutive months shall have all the cred itable service of such
253	243		retiree computed based on the benefit formula applicable at the time
254	244		of termination of such reemployment if the retiree elects not to
255	245		receive retirement benefits prior to such termination of
256	246		reemployment. A retiree who has waived re ceipt of the monthly
257	247		benefit, but is not reemployed for the full thirty-six (36)
258	248		consecutive months, shall upon termination of such reemployment have
259	249		only the additional amount added to his or her benefit as if they
260	250		had not waived the benefit as provided i n paragraph 1 of this
261	251		subsection.
262	252		3. All post-retirement additional benefits shall be calculated
263	253		using actual hours worked as well as the actual compensation
264	254		received and upon which contributions are paid. Post -retirement
265	255		service is not subject to the pa rtial year round-up provisions of
266	256		subsection C of Secti on 913 of this title. RBH No. 10390
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268		-	SENATE FLOOR VERSION - HB1730 SFLR Page 6
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294	282		4. A retired member who returns to work for a participating
295	283		employer pursuant to this section shall be bound by the election
296	284		made pursuant to paragraph (2) of subsection A of Sec tion 915 of
297	285		this title if the member had made such election prior to retirement.
298	286		If the member had not made such election prior to retirement, the
299	287		member may do so during the member 's reemployment with a
300	288		participating employer pursuant to this section. A retired member
301	289		may not be rehired by their former empl oyer, nor may the retired
302	290		member be permitted to enter into an employment contract of any kind
303	291		with a former employer, for a period of one (1) year after the
304	292		retired member ended his or her employment with the former employer
305	293		unless the retired member waives his or her benefit under paragraph
306	294		2 of this subsection and returns as a bona fide employee. Provided,
307	295		however, that a retired court reporter is not eligible to be rehired
308	296		for a period of sixty (60 ) days after the retired member ended his
309	297		or her employment with the former employer unless the retired member
310	298		waives his or her benefit under paragraph 2 of this subsection and
311	299		returns as a bona fide employee.
312	300		F. Except as otherwise provided by subsectio n G of this
313	301		section, any member may elect to retire before his or her normal
314	302		retirement date on the first day of any month coinciding with or
315	303		following the attainment of age fifty -five (55), provided such
316	304		member has completed ten (10) years of participatin g service, but in
317	305		no event before six (6) months after the entry date. Any member who RBH No. 10390
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	306	+	ENGR. H. B. NO. 1730 Page 7 1
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345	331		shall retire before the normal retirement date shall receive an
346	332		annual retirement benefit adjusted in accordance with the following
347	333		percentage schedule:
348	334		Percentage of Normal
349	335		Age Retirement Benefit
350	336		62 100.00%
351	337		61 93.33%
352	338		60 86.67%
353	339		59 80.00%
354	340		58 73.33%
355	341		57 66.67%
356	342		56 63.33%
357	343		55 60.00%
358	344		G. Any member whose first participating service occurs on or
359	345		after November 1, 2011, may elect to retire before his or her normal
360	346		retirement date on the first day of any month coinciding with or
361	347		following the attainment of age sixty (60), provided such member has
362	348		completed ten (10) years of participating service, but in no event
363	349		before six (6) months after the entry date. Any member who shall
364	350		retire before the normal retirement date shall receive an annual
365	351		retirement benefit adjusted in accordance with the following
366	352		percentage schedule:
367	353		Percentage of Normal
368	354		Age Retirement Benefit RBH No. 10390
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	355	+	ENGR. H. B. NO. 1730 Page 8 1
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396	380		65 100.00%
397	381		64 93.33%
398	382		63 86.67%
399	383		62 80.00%
400	384		61 73.33%
401	385		60 66.67%
402	386		SECTION 2. This act shall become effectiv e November 1, 2025.
403		-	COMMITTEE REPORT BY: COMMITTEE ON RETIREMENT AND GOVERNMENT
404		-	RESOURCES
405		-	April 15, 2025 - DO PASS
	387	+	Passed the House of Representatives the 26th day of March, 2025.
	388	+
	389	+
	390	+
	391	+
	392	+	Presiding Officer of the House
	393	+	of Representatives
	394	+
	395	+
	396	+
	397	+	Passed the Senate the ___ day of __________, 2025.
	398	+
	399	+
	400	+
	401	+
	402	+	Presiding Officer of the Senate