Bill No. 1729 amends the Oklahoma Public Employees Retirement System to allow certain retirees, specifically retired district attorneys and assistant district attorneys, to engage in postretirement employment with district attorney's offices or the Oklahoma Indigent Defense System while still receiving their monthly retirement benefits. The bill establishes specific limitations on this employment, including a mandatory waiting period of sixty calendar days after retirement before the retiree can begin working again. Additionally, it outlines earnings caps based on the retiree's age and final average salary, with different thresholds for those under and over the age of sixty-two.

The legislation also includes provisions for automatic adjustments to the earnings limits based on Social Security Administration guidelines and specifies penalties for exceeding these limits, which could result in a reduction of future retirement benefits. The bill is set to take effect on November 1, 2025, following its passage in the House of Representatives on March 27, 2025.