The bill, RBH No. 15925, amends existing laws related to public retirement systems in Oklahoma, specifically the Oklahoma Pension Legislation Actuarial Analysis Act and the Teachers' Retirement System. It modifies the definition of a nonfiscal retirement bill to include provisions that allow certain retired members of the Teachers' Retirement System of Oklahoma (OTRS) who are re-employed by the Oklahoma Department of Career and Technology Education to choose between remaining in OTRS or participating in the Oklahoma Public Employees Retirement System (OPERS). This change is classified as nonfiscal, meaning it does not have a significant financial impact on the retirement systems.

Additionally, the bill updates the membership provisions for nonclassified optional personnel in the Teachers' Retirement System, allowing those regularly employed for twenty hours or more per week to join the system upon hiring. It also stipulates that these employees have a thirty-day window to opt out of participation, after which they will automatically be enrolled. The effective dates for the amendments are set for October 1, 2026, for the first section and November 1, 2026, for the second section.

Statutes affected:
Introduced: 62-3103