Bill > SB21

This bill amends the Oklahoma Police Pension and Retirement System to provide a 2% benefit increase for certain retired police pension members. Specifically, the bill applies to police pension recipients who have been retired for five or more years as of June 30, 2025. However, there is an important exception for members who joined the system before January 1, 1981: for these long-standing members, any increase they would receive under this bill will be offset by one-third of any changes to the base salary of a regular police officer. This means that for those pre-1981 members, the actual net benefit increase might be reduced depending on concurrent salary adjustments for active police officers. The bill aims to provide some additional financial support to long-retired police pension recipients while maintaining a balanced approach for those who have been in the system for an extended period.