Bill No. 1149 aims to provide financial support to specific members of the Oklahoma Firefighters and Police Pension and Retirement Systems, referred to as "tweeners." A "tweener" is defined as a member or their beneficiary who receives benefits from these systems but did not retire with twenty years of credited service by specific cutoff dates (May 26, 1983, for firefighters and June 30, 1990, for police officers). The bill mandates that both the Oklahoma Firefighters Pension and Retirement Board and the Oklahoma Police Pension and Retirement Board issue a one-time stipend of $25,000 to eligible tweeners receiving benefits as of October 31, 2026. This stipend is in addition to any other benefits they may be entitled to.

Additionally, the bill amends existing legislation related to the Oklahoma Pension Legislation Actuarial Analysis Act, specifically updating definitions and statutory language. Notably, it includes new provisions that authorize the issuance of the one-time stipend to tweeners, which was not previously allowed. The effective date for the stipend provisions is set for November 1, 2026, while the amendments to the actuarial analysis act will take effect on October 1, 2026.

Statutes affected:
Committee Substitute: 62-3103
Engrossed: 62-3103