Bill > HB1739

This bill modifies provisions related to the Oklahoma Law Enforcement Retirement System (OLERS) by adjusting employer and employee contribution rates and updating how certain retirement benefits are calculated. Specifically, it increases the percentage that participating employers contribute to the fund, phasing in an increase from 11% to 16.5% by July 1, 2030, and also raises the employee contribution from 8% to 9% of their base salary. Additionally, the bill expands the list of positions whose retirement benefits are calculated based on the "top base salary" of the highest nonsupervisory position within their agency, now including agents from the Attorney General's office and the Military Department. The bill also includes provisions for contingent effective dates, meaning certain sections will take effect later if an emergency clause is not approved, and declares an emergency for immediate implementation.

Business and Industry, Government Affairs

http://www.oklegislature.gov/BillInfo.aspx?Bill=hb1739&Session=2600