The bill RBH No. 11255 amends the Oklahoma Public Employees Retirement System (OPERS) to enhance retirement benefits and clarify eligibility for various public employees, particularly focusing on law enforcement and correctional personnel. Key changes include the insertion of a definition for "CLEET-certified law enforcement agent employed by the Department of Human Services Office of Inspector General," which outlines their qualifications and responsibilities. The bill modifies the computation of retirement benefits, establishing a calculation of two and one-half percent (2.5%) of final average compensation for each year of service for members retiring on or after specified dates, with different calculations for years exceeding twenty. It also introduces provisions for deputy sheriffs and county jailers, detailing their retirement benefits based on years of service and final average compensation.

Additionally, the bill expands eligibility for monthly pensions to include CLEET-certified law enforcement agents killed or mortally wounded in the line of duty after July 1, 2025, and updates contribution rates for various employee categories. It clarifies the criteria for disability benefits, ensuring that members with disabilities after July 1, 1999, receive retirement benefits at least equal to their disability retirement benefit once proper documentation is provided. The bill establishes an effective date of July 1, 2025, and is classified as a fiscal bill due to its potential impact on the Actuarial Accrued Liability, emphasizing the urgency of these amendments.

Statutes affected:
Introduced: 74-902, 74-915, 74-916.3, 74-919.1