The bill, designated as RBH No. 11069, proposes a cost-of-living increase for retired members of various Oklahoma public retirement systems, including the Oklahoma Firefighters Pension and Retirement System, the Oklahoma Police Pension and Retirement System, and others. Effective July 1, 2025, members receiving benefits as of June 30, 2025, will receive an increase of eight percent (8%) if their gross retirement benefit is less than $90,000. For those with benefits between $90,000 and $97,199.99, the increase will be adjusted to ensure their total benefit equals $97,200. Additionally, any benefits eligible for increase under previously repealed sections will be offset against the new increases.

The bill also includes specific provisions for different retirement systems, ensuring that all eligible members receive similar increases based on their benefit levels. The effective date for these changes is set for November 1, 2025. The legislation aims to provide financial relief to retired public employees, acknowledging the need for adjustments in their retirement benefits to keep pace with inflation and cost-of-living changes.