Bill > HB4212

This bill modifies existing Oklahoma law concerning retirement benefits, specifically for the Oklahoma Law Enforcement Retirement System (OLERS). It amends the Oklahoma Pension Legislation Actuarial Analysis Act (OPLAAA) to clarify definitions related to retirement bills and their fiscal impact, ensuring that changes to survivor benefits, like those made by this bill, are classified as "nonfiscal" meaning they don't significantly alter the system's costs or funding. The primary change is to Section 2-306 of Title 47, which governs payments upon the death of a member of OLERS. Previously, a surviving spouse's benefits could be terminated upon remarriage, with an exception for those who remarried before a specific date in 1993. This bill removes that remarriage restriction, allowing surviving spouses to continue receiving lifetime benefits even if they remarry, provided they were married to the member for at least 30 months or the member died in the line of duty. The bill also sets different effective dates for its provisions, with the OPLAAA amendments taking effect on October 1, 2026, and the changes to OLERS survivor benefits becoming effective on November 1, 2026.

http://www.oklegislature.gov/BillInfo.aspx?Bill=hb4212&Session=2600