Bill
Bill > HB4231
OK HB4231
OK HB4231Retirement; Oklahoma Pension Legislation Actuarial Analysis Act; definition; Oklahoma Firefighters Pension and Retirement System; computation factor; accrued retirement benefit; disability retirement benefit; monthly retirement annuity; municipal contribution; effective dates; contingent effective dates; emergency.
summary
Introduced
02/02/2026
02/02/2026
In Committee
02/04/2026
02/04/2026
Crossed Over
Passed
Dead
Introduced Session
2026 Regular Session
Bill Summary
An Act relating to retirement; amending 62 O.S. 2021, Section 3103, as last amended by Section 2, Chapter 361, O.S.L. 2024 (62 O.S. Supp. 2025, Section 3103), which relates to the Oklahoma Pension Legislation Actuarial Analysis Act; modifying definition; amending 11 O.S. 2021, Sections 49-100.1, as last amended by Section 1, Chapter 142, O.S.L. 2025 (11 O.S. Supp. 2025, Section 49-100.1), 49-109, as amended by Section 4, Chapter 151, O.S.L. 2023 (11 O.S. Supp. 2025, Section 49-109), 49-117.1, as last amended by Section 3, Chapter 142, O.S.L. 2025 (11 O.S. Supp. 2025, Section 49-117.1), and 49-122, which relate to the Oklahoma Firefighters Pension and Retirement System; increasing computation factor used to calculate accrued retirement benefit; increasing computation factor used to calculate disability retirement benefit; modifying computation for monthly retirement annuity; increasing the municipal contribution; providing effective dates; providing for contingent effective dates based on outcome of approval of the emergency clause; and declaring an emergency.
AI Summary
This bill modifies the Oklahoma Pension Legislation Actuarial Analysis Act to define certain changes to the Oklahoma Firefighters Pension and Retirement System as "nonfiscal amendments," meaning they do not negatively impact the system's financial health. Specifically, it increases the "computation factor," which is a percentage used to calculate a firefighter's retirement benefit, from 2.5% to 3% for those with sufficient years of service, with phased-in implementation over several years. It also adjusts the calculation for monthly retirement annuities and increases the "municipal contribution," which is the amount paid by cities and towns to the pension fund, to a minimum of 14% of a member's base salary. The bill includes provisions for different effective dates depending on whether an emergency clause is approved, with the changes generally taking effect in mid-to-late 2026.
Committee Categories
Business and Industry, Government Affairs
Sponsors (2)
Last Action
Referred to Banking, Financial Services and Pensions (on 02/04/2026)
Official Document
bill text
bill summary
Loading...
bill summary
Loading...
bill summary
| Document Type | Source Location |
|---|---|
| State Bill Page | http://www.oklegislature.gov/BillInfo.aspx?Bill=hb4231&Session=2600 |
| BillText | https://www.oklegislature.gov/cf_pdf/2025-26%20INT/hB/HB4231%20INT.PDF |
Loading...