Bill > HB1237

This bill increases the death benefit amounts across several Oklahoma public retirement systems from $5,000 to $10,000 for retired members who die on or after the effective date of the act (November 1, 2025). Specifically, the bill amends provisions for six different retirement systems: the Oklahoma Firefighters Pension and Retirement System, Oklahoma Police Pension and Retirement System, Uniform Retirement System for Justices and Judges, Oklahoma Law Enforcement Retirement System, Teachers' Retirement System of Oklahoma, and Oklahoma Public Employees Retirement System. The death benefit will be paid to the member's designated beneficiary, estate, or in some cases, a trust. In situations where there is no living beneficiary, the systems retain discretion to pay the benefit to legal heirs without going through probate court, provided certain documentation requirements are met. The bill also includes provisions allowing beneficiaries to disclaim the death benefit, which could then be transferred to a funeral service provider. The change aims to provide enhanced financial support to the families of retired public employees upon their death, effectively doubling the existing death benefit amount across these public retirement systems.

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http://www.oklegislature.gov/BillInfo.aspx?Bill=hb1237&Session=2600