This bill amends the Oklahoma Pension Actuarial Analysis Act and the Oklahoma Law Enforcement Retirement System by updating definitions and expanding membership eligibility for law enforcement personnel. It specifically revises the definition of "nonfiscal retirement bill" and allows active commissioned or CLEET-certified agents of the Council on Law Enforcement Education and Training to join the Oklahoma Law Enforcement Retirement System. The bill clarifies that the criteria for a nonfiscal retirement bill will not impact the cost or funding factors of the retirement system.

Furthermore, the bill removes the previous requirement that only agents hired by the Office of the Attorney General or the Military Department could participate in the retirement system, now permitting agents hired by the Council on Law Enforcement Education and Training on or after July 1, 2024. It establishes that these agents will be required to contribute to the retirement system while not participating in other plans offered by the Oklahoma Public Employees Retirement System, with the Department acting as a participating employer. The bill is classified as an emergency measure, indicating its immediate importance, and will take effect on October 1, 2025, unless the emergency clause is approved, in which case it will take effect immediately upon the Governor's signature.

Statutes affected:
Introduced: 62-3103