Bill > SB12

This bill proposes a 5% increase in retirement benefits for members of the Oklahoma Police Pension and Retirement System, with a specific provision for members who joined before January 1, 1981. For most pension recipients receiving benefits as of June 30, 2025, they will automatically receive a 5% increase in their monthly retirement payments starting on the effective date of the act. However, for members who joined prior to 1981, the benefit increase will be more complex: their pension increase will be calculated as one-third of any changes to a regular police officer's base salary, and any benefits increase they are eligible to receive after July 1, 2020, will be offset against this new 5% increase. This nuanced approach ensures that long-standing members of the pension system are treated fairly while providing a standard benefit increase for most retired police officers.

Labor and Employment

http://www.oklegislature.gov/BillInfo.aspx?Bill=sb12&Session=2600