House Bill No. 1245, introduced by Strom, amends the Oklahoma Public Employees Retirement System (OPERS) to modernize definitions, modify retirement benefit calculations, and adjust employee contributions for specific members, particularly focusing on CLEET-certified law enforcement agents employed by the Department of Human Services Office of Inspector General. The bill introduces a new definition for these agents, clarifies eligibility for retirement benefits, and updates terms such as "employee," "member," and "final average compensation" to ensure alignment with current practices. It also includes provisions for an effective date and declares an emergency, highlighting the urgency of these changes.

Additionally, the bill outlines specific retirement benefit calculations for various public safety positions, including correctional officers and newly included law enforcement agents, establishing a benefit rate of two and one-half percent (2.5%) of final average compensation for years of service, with adjustments for service beyond twenty years. It expands eligibility for monthly pensions to include law enforcement agents killed in the line of duty and modifies employee contribution rates for these agents. The act is set to take effect on July 1, 2026, with immediate implementation upon passage due to the emergency clause.

Statutes affected:
Introduced: 74-902, 74-915, 74-916.3, 74-919.1
Sub Committee OR Policy Committee Recommendations (House) Policy Committee Recommendation: 74-902, 74-915, 74-916.3, 74-919.1