The bill amends the Oklahoma Law Enforcement Retirement System by updating definitions and expanding membership categories to include CLEET-certified police officers employed by the University of Oklahoma and Oklahoma State University, as well as lake patrolmen and dispatchers of the Grand River Dam Authority. It also revises the calculation for purchasing service credit related to certain leaves of absence and clarifies eligibility criteria for membership. Additionally, the bill ensures compliance with the Internal Revenue Code by stipulating that retirement benefits must begin no later than April 1 of the year following a member reaching the applicable age.

Furthermore, the bill outlines new contribution requirements, setting employer contributions at eleven percent (11%) of each member's actual paid base salary, while members will contribute eight percent (8%). It increases the maximum unused sick leave that can be credited from one hundred thirty (130) days to two hundred forty (240) days for members retiring or electing a Deferred Option Plan. The bill also modifies conditions for purchasing service credit during temporary disability. An emergency clause is included, allowing for immediate implementation upon passage and approval.