Oklahoma § 62-3103 - See the following versions:

§ 62-3103. See the following versions:

OS 62-3103v1 (SB 2038, Laws 2024, c. 452, § 127).

OS 62-3103v2 (SB 102, Laws 2024, c. 357, § 1).

OS 62-3103v3 (HB 2687, Laws 2024, c. 361, § 2).

§62-3103v1. Definitions.

As used in the Oklahoma Pension Legislation Actuarial Analysis

Act:

1. “Amendment” means any amendment including a substitute bill,

made to a retirement bill by any committee of the House or Senate,

any conference committee of the House or Senate or by the House or

Senate;

2. “RB number” means that number preceded by the letters “RB”

assigned to a retirement bill by the respective staffs of the

Oklahoma State Senate and the Oklahoma House of Representatives when

the respective staff office prepares a retirement bill for a member

of the Legislature;

3. “Legislative Actuary” means the firm or entity that enters

into a contract with the Legislative Service Bureau pursuant to

Section 452.15 of Title 74 of the Oklahoma Statutes to provide the

actuarial services and other duties provided for in the Oklahoma

Pension Legislation Actuarial Analysis Act;

4. “Nonfiscal amendment” means an amendment to a retirement

bill having a fiscal impact, which amendment does not change any

Oklahoma Statutes - Title 62. Public Finance

factor of an actuarial investigation specified in subsection A of

Section 3109 of this title;

5. “Nonfiscal retirement bill” means a retirement bill:

a.

which does not affect the cost or funding factors of a

retirement system,

b.

which affects such factors only in a manner which does

not:

(1) grant a benefit increase under the retirement

system affected by the bill,

(2) create an actuarial accrued liability for or

increase the actuarial accrued liability of the

retirement system affected by the bill, or

(3) increase the normal cost of the retirement system

affected by the bill,

c.

which authorizes the purchase by an active member of

the retirement system, at the actuarial cost for the

purchase as computed pursuant to the statute in effect

on the effective date of the measure allowing such

purchase, of years of service for purposes of reaching

a normal retirement date in the applicable retirement

system, but which cannot be used in order to compute

the number of years of service for purposes of

computing the retirement benefit for the member,

d.

which provides for the computation of a serviceconnected disability retirement benefit for members of

the Oklahoma Law Enforcement Retirement System

pursuant to Section 2-305 of Title 47 of the Oklahoma

Statutes if the members were unable to complete twenty

(20) years of service as a result of the disability,

e.

which requires membership in the defined benefit plan

authorized by Section 901 et seq. of Title 74 of the

Oklahoma Statutes for persons whose first elected or

appointed service occurs on or after November 1, 2018,

if such persons had any prior service in the Oklahoma

Public Employees Retirement System prior to November

1, 2015,

f.

which provides for a one-time increase in retirement

benefits if the increase in retirement benefits is not

a permanent increase in the gross annual retirement

benefit payable to a member or beneficiary, occurs

only once pursuant to a single statutory authorization

and does not exceed:

(1) the lesser of two percent (2%) of the gross

annual retirement benefit of the member or One

Thousand Dollars ($1,000.00) and requires that

the benefit may only be provided if the funded

ratio of the affected retirement system would not

Oklahoma Statutes - Title 62. Public Finance

g.

h.

be less than sixty percent (60%) but not greater

than eighty percent (80%) after the benefit

increase is paid,

(2) the lesser of two percent (2%) of the gross

annual retirement benefit of the member or One

Thousand Two Hundred Dollars ($1,200.00) and

requires that the benefit may only be provided if

the funded ratio of the affected retirement

system would be greater than eighty percent (80%)

but not greater than one hundred percent (100%)

after the benefit increase is paid,

(3) the lesser of two percent (2%) of the gross

annual retirement benefit of the member or One

Thousand Four Hundred Dollars ($1,400.00) and

requires that the benefit may only be provided if

the funded ratio of the affected retirement

system would be greater than one hundred percent

(100%) after the benefit increase is paid, or

(4) the greater of two percent (2%) of the gross

annual retirement benefit of the volunteer

firefighter or One Hundred Dollars ($100.00) for

persons who retired from the Oklahoma

Firefighters Pension and Retirement System as

volunteer firefighters and who did not retire

from the Oklahoma Firefighters Pension and

Retirement System as a paid firefighter.

As used in this subparagraph, “funded ratio” means the

figure derived by dividing the actuarial value of

assets of the applicable retirement system by the

actuarial accrued liability of the applicable

retirement system,

which modifies the disability pension standard for

police officers who are members of the Oklahoma Police

Pension and Retirement System as provided by Section

50-115 of Title 11 of the Oklahoma Statutes,

which provides a cost-of-living benefit increase

pursuant to the provisions of:

(1) Section 49-143.7 of Title 11 of the Oklahoma

Statutes,

(2) Section 50-136.9 of Title 11 of the Oklahoma

Statutes,

(3) Section 1104K of Title 20 of the Oklahoma

Statutes,

(4) Section 2-305.12 of Title 47 of the Oklahoma

Statutes,

(5) Section 17-116.22 of Title 70 of the Oklahoma

Statutes, or

Oklahoma Statutes - Title 62. Public Finance

(6)

Section 930.11 of Title 74 of the Oklahoma

Statutes,

i.

which provides for the reinstatement of retirement

benefits for members of the Oklahoma Law Enforcement

Retirement System pursuant to Section 2-305 of Title

47 of the Oklahoma Statutes for those who were hired

on or after November 1, 2012, or May 24, 2013,

j.

which authorizes the purchase of military service

credit as provided in Section 50-128 of Title 11,

Section 1102.2 of Title 20, Section 2-307.4 of Title

47, and Section 913.8 of Title 74 of the Oklahoma

Statutes,

k.

which restores benefits pursuant to Sections 49-100.1,

49-101, 49-101.2, 49-106.1, 49-108, 49-117.1, and 49135 of Title 11 of the Oklahoma Statutes,

l.

which modifies the computation of the line-of-duty

disability benefit pursuant to the provisions of this

act.

A nonfiscal retirement bill shall include any retirement bill that

has as its sole purpose the appropriation or distribution or

redistribution of monies in some manner to a retirement system for

purposes of reducing the unfunded liability of such system or the

earmarking of a portion of the revenue from a tax to a retirement

system or increasing the percentage of the revenue earmarked from a

tax to a retirement system;

6. “Reduction-in-cost amendment” means an amendment to a

retirement bill having a fiscal impact which reduces the cost of the

bill as such cost is determined by the actuarial investigation for

the bill prepared pursuant to Section 3109 of this title;

7. “Retirement bill” means any bill or joint resolution

introduced or any bill or joint resolution amended by a member of

the Oklahoma Legislature which creates or amends any law directly

affecting a retirement system. A retirement bill shall not mean a

bill or resolution that impacts the revenue of any state tax in

which a portion of the revenue generated from such tax is earmarked

for the benefit of a retirement system;

8. “Retirement bill having a fiscal impact” means any

retirement bill creating or establishing a retirement system and any

other retirement bill other than a nonfiscal retirement bill; and

9. “Retirement system” means the Teachers’ Retirement System of

Oklahoma, the Oklahoma Public Employees Retirement System, the

Uniform Retirement System for Justices and Judges, the Oklahoma

Firefighters Pension and Retirement System, the Oklahoma Police

Pension and Retirement System, the Oklahoma Law Enforcement

Retirement System, or a retirement system established after January

1, 2006.

Oklahoma Statutes - Title 62. Public Finance

Added by Laws 2006, c. 292, § 3, eff. July 1, 2006. Amended by Laws

2007, c. 367, § 3, eff. July 1, 2007; Laws 2008, c. 3, § 32, emerg.

eff. Feb. 28, 2008; Laws 2011, c. 199, § 1; Laws 2018, c. 44, § 1,

eff. Oct. 1, 2018; Laws 2018, c. 245, § 2, eff. Sept. 1, 2018; Laws

2020, c. 120, § 2, emerg. eff. May 21, 2020; Laws 2021, c. 101, § 7,

emerg. eff. April 20, 2021; Laws 2022, c. 255, § 1, emerg. eff. May

16, 2022; Laws 2024, c. 452, § 127, emerg. eff. June 14, 2024.

NOTE: Laws 2007, c. 186, § 2 repealed by Laws 2008, c. 3, § 33,

emerg. eff. Feb. 28, 2008. Laws 2020, c. 121, § 1 repealed by Laws

2021, c. 101, § 8, emerg. eff. April 20, 2021.

§62-3103v2. Definitions.

As used in the Oklahoma Pension Legislation Actuarial Analysis

Act:

1. “Amendment” means any amendment, including a substitute

bill, made to a retirement bill by any committee of the House or

Senate, any conference committee of the House or Senate or by the

House or Senate;

2. “RB number” means that number preceded by the letters “RB”

assigned to a retirement bill by the respective staffs of the

Oklahoma State Senate and the Oklahoma House of Representatives when

the respective staff office prepares a retirement bill for a member

of the Legislature;

3. “Legislative Actuary” means the firm or entity that enters

into a contract with the Legislative Service Bureau pursuant to

Section 452.15 of Title 74 of the Oklahoma Statutes to provide the

actuarial services and other duties provided for in the Oklahoma

Pension Legislation Actuarial Analysis Act;

4. “Nonfiscal amendment” means an amendment to a retirement

bill having a fiscal impact, which amendment does not change any

factor of an actuarial investigation specified in subsection A of

Section 3109 of this title;

5. “Nonfiscal retirement bill” means a retirement bill:

a.

which does not affect the cost or funding factors of a

retirement system,

b.

which affects such factors only in a manner which does

not:

(1) grant a benefit increase under the retirement

system affected by the bill,

(2) create an actuarial accrued liability for or

increase the actuarial accrued liability of the

retirement system affected by the bill, or

(3) increase the normal cost of the retirement system

affected by the bill,

c.

which authorizes the purchase by an active member of

the retirement system, at the actuarial cost for the

purchase as computed pursuant to the statute in effect

Oklahoma Statutes - Title 62. Public Finance

d.

e.

f.

on the effective date of the measure allowing such

purchase, of years of service for purposes of reaching

a normal retirement date in the applicable retirement

system, but which cannot be used in order to compute

the number of years of service for purposes of

computing the retirement benefit for the member,

which provides for the computation of a serviceconnected disability retirement benefit for members of

the Oklahoma Law Enforcement Retirement System

pursuant to Section 2-305 of Title 47 of the Oklahoma

Statutes if the members were unable to complete twenty

(20) years of service as a result of the disability,

which requires membership in the defined benefit plan

authorized by Section 901 et seq. of Title 74 of the

Oklahoma Statutes for persons whose first elected or

appointed service occurs on or after November 1, 2018,

if such persons had any prior service in the Oklahoma

Public Employees Retirement System prior to November

1, 2015,

which provides for a one-time increase in retirement

benefits if the increase in retirement benefits is not

a permanent increase in the gross annual retirement

benefit payable to a member or beneficiary, occurs

only once pursuant to a single statutory authorization

and does not exceed:

(1) the lesser of two percent (2%) of the gross

annual retirement benefit of the member or One

Thousand Dollars ($1,000.00) and requires that

the benefit may only be provided if the funded

ratio of the affected retirement system would not

be less than sixty percent (60%) but not greater

than eighty percent (80%) after the benefit

increase is paid,

(2) the lesser of two percent (2%) of the gross

annual retirement benefit of the member or One

Thousand Two Hundred Dollars ($1,200.00) and

requires that the benefit may only be provided if

the funded ratio of the affected retirement

system would be greater than eighty percent (80%)

but not greater than one hundred percent (100%)

after the benefit increase is paid,

(3) the lesser of two percent (2%) of the gross

annual retirement benefit of the member or One

Thousand Four Hundred Dollars ($1,400.00) and

requires that the benefit may only be provided if

the funded ratio of the affected retirement

Oklahoma Statutes - Title 62. Public Finance

g.

h.

i.

j.

k.

l.

system would be greater than one hundred percent

(100%) after the benefit increase is paid, or

(4) the greater of two percent (2%) of the gross

annual retirement benefit of the volunteer

firefighter or One Hundred Dollars ($100.00) for

persons who retired from the Oklahoma

Firefighters Pension and Retirement System as

volunteer firefighters and who did not retire

from the Oklahoma Firefighters Pension and

Retirement System as a paid firefighter.

As used in this subparagraph, “funded ratio” means the

figure derived by dividing the actuarial value of

assets of the applicable retirement system by the

actuarial accrued liability of the applicable

retirement system,

which modifies the disability pension standard for

police officers who are members of the Oklahoma Police

Pension and Retirement System as provided by Section

50-115 of Title 11 of the Oklahoma Statutes,

which provides a cost-of-living benefit increase

pursuant to the provisions of:

(1) Section 49-143.7 of Title 11 of the Oklahoma

Statutes,

(2) Section 50-136.9 of Title 11 of the Oklahoma

Statutes,

(3) Section 1104K of Title 20 of the Oklahoma

Statutes,

(4) Section 2-305.12 of Title 47 of the Oklahoma

Statutes,

(5) Section 17-116.22 of Title 70 of the Oklahoma

Statutes, or

(6) Section 930.11 of Title 74 of the Oklahoma

Statutes,

which modifies the computation of the line-of-duty

disability benefit pursuant to Sections 50-101 and 50115 of Title 11 of the Oklahoma Statutes,

which allows the purchase of military prior service

credit pursuant to the provisions of this act,

which increases the computation factor used to

calculate the accrued retirement benefit and normal

disability benefit pursuant to Section 50-101 of Title

11 of the Oklahoma Statutes,

which increases the municipal contribution, employee

contribution, or both for members of the Oklahoma

Police Pension and Retirement System pursuant to

Sections 50-109 and 50-110 of Title 11 of the Oklahoma

Statutes, or

Oklahoma Statutes - Title 62. Public Finance

m.

which modifies the computation of a retirement annuity

pursuant to Section 50-111.1 of Title 11 of the

Oklahoma Statutes.

A nonfiscal retirement bill shall include any retirement bill that

has as its sole purpose the appropriation or distribution or

redistribution of monies in some manner to a retirement system for

purposes of reducing the unfunded liability of such system or the

earmarking of a portion of the revenue from a tax to a retirement

system or increasing the percentage of the revenue earmarked from a

tax to a retirement system;

6. “Reduction-in-cost amendment” means an amendment to a

retirement bill having a fiscal impact which reduces the cost of the

bill as such cost is determined by the actuarial investigation for

the bill prepared pursuant to Section 3109 of this title;

7. “Retirement bill” means any bill or joint resolution

introduced or any bill or joint resolution amended by a member of

the Legislature which creates or amends any law directly affecting a

retirement system. A retirement bill shall not mean a bill or

resolution that impacts the revenue of any state tax in which a

portion of the revenue generated from such tax is earmarked for the

benefit of a retirement system;

8. “Retirement bill having a fiscal impact” means any

retirement bill creating or establishing a retirement system and any

other retirement bill other than a nonfiscal retirement bill; and

9. “Retirement system” means the Teachers’ Retirement System of

Oklahoma, the Oklahoma Public Employees Retirement System, the

Uniform Retirement System for Justices and Judges, the Oklahoma

Firefighters Pension and Retirement System, the Oklahoma Police

Pension and Retirement System, the Oklahoma Law Enforcement

Retirement System, or a retirement system established after January

1, 2006.

Added by Laws 2006, c. 292, § 3, eff. July 1, 2006. Amended by Laws

2007, c. 367, § 3, eff. July 1, 2007; Laws 2008, c. 3, § 32, emerg.

eff. Feb. 28, 2008; Laws 2011, c. 199, § 1; Laws 2018, c. 44, § 1,

eff. Oct. 1, 2018; Laws 2018, c. 245, § 2, eff. Sept. 1, 2018; Laws

2020, c. 120, § 2, emerg. eff. May 21, 2020; Laws 2021, c. 101, § 7,

emerg. eff. April 20, 2021; Laws 2022, c. 306, § 1, eff. Oct. 1,

2022; Laws 2024, c. 247, § 1, eff. Oct. 1, 2024; Laws 2024, c. 357,

§ 1, eff. June 1, 2025.

NOTE: Laws 2007, c. 186, § 2 repealed by Laws 2008, c. 3, § 33,

emerg. eff. Feb. 28, 2008. Laws 2020, c. 121, § 1 repealed by Laws

2021, c. 101, § 8, emerg. eff. April 20, 2021.

NOTE: Laws 2022, c. 306, § 1 was purportedly repealed by Laws 2024,

c. 452, § 130 but without reference to Laws 2024, c. 247, § 1 and

Laws 2024, c. 357, § 1, which amended it.

§62-3103v3.

Definitions.

Oklahoma Statutes - Title 62. Public Finance

As used in the Oklahoma Pension Legislation Actuarial Analysis

Act:

1. “Amendment” means any amendment, including a substitute

bill, made to a retirement bill by any committee of the House of

Representatives or Senate, any conference committee of the House or

Senate or by the House or Senate;

2. “RB number” means that number preceded by the letters “RB”

assigned to a retirement bill by the respective staffs of the

Oklahoma State Senate and the Oklahoma House of Representatives when

the respective staff office prepares a retirement bill for a member

of the Legislature;

3. “Legislative Actuary” means the firm or entity that enters

into a contract with the Legislative Service Bureau pursuant to

Section 452.15 of Title 74 of the Oklahoma Statutes to provide the

actuarial services and other duties provided for in the Oklahoma

Pension Legislation Actuarial Analysis Act;

4. “Nonfiscal amendment” means an amendment to a retirement

bill having a fiscal impact, which amendment does not change any

factor of an actuarial investigation specified in subsection A of

Section 3109 of this title;

5. “Nonfiscal retirement bill” means a retirement bill:

a.

which does not affect the cost or funding factors of a

retirement system,

b.

which affects such factors only in a manner which does

not:

(1) grant a benefit increase under the retirement

system affected by the bill,

(2) create an actuarial accrued liability for or

increase the actuarial accrued liability of the

retirement system affected by the bill, or

(3) increase the normal cost of the retirement system

affected by the bill,

c.

which authorizes the purchase by an active member of

the retirement system, at the actuarial cost for the

purchase as computed pursuant to the statute in effect

on the effective date of the measure allowing such

purchase, of years of service for purposes of reaching

a normal retirement date in the applicable retirement

system, but which cannot be used in order to compute

the number of years of service for purposes of

computing the retirement benefit for the member,

d.

which provides for the computation of a serviceconnected disability retirement benefit for members of

the Oklahoma Law Enforcement Retirement System

pursuant to Section 2-305 of Title 47 of the Oklahoma

Statutes if the members were unable to complete twenty

(20) years of service as a result of the disability,

Oklahoma Statutes - Title 62. Public Finance

e.

f.

which requires membership in the defined benefit plan

authorized by Section 901 et seq. of Title 74 of the

Oklahoma Statutes for persons whose first elected or

appointed service occurs on or after November 1, 2018,

if such persons had any prior service in the Oklahoma

Public Employees Retirement System prior to November

1, 2015,

which provides for a one-time increase in retirement

benefits if the increase in retirement benefits is not

a permanent increase in the gross annual retirement

benefit payable to a member or beneficiary, occurs

only once pursuant to a single statutory authorization

and does not exceed:

(1) the lesser of two percent (2%) of the gross

annual retirement benefit of the member or One

Thousand Dollars ($1,000.00) and requires that

the benefit may only be provided if the funded

ratio of the affected retirement system would not

be less than sixty percent (60%) but not greater

than eighty percent (80%) after the benefit

increase is paid,

(2) the lesser of two percent (2%) of the gross

annual retirement benefit of the member or One

Thousand Two Hundred Dollars ($1,200.00) and

requires that the benefit may only be provided if

the funded ratio of the affected retirement

system would be greater than eighty percent (80%)

but not greater than one hundred percent (100%)

after the benefit increase is paid,

(3) the lesser of two percent (2%) of the gross

annual retirement benefit of the member or One

Thousand Four Hundred Dollars ($1,400.00) and

requires that the benefit may only be provided if

the funded ratio of the affected retirement

system would be greater than one hundred percent

(100%) after the benefit increase is paid, or

(4) the greater of two percent (2%) of the gross

annual retirement benefit of the volunteer

firefighter or One Hundred Dollars ($100.00) for

persons who retired from the Oklahoma

Firefighters Pension and Retirement System as

volunteer firefighters and who did not retire

from the Oklahoma Firefighters Pension and

Retirement System as a paid firefighter.

As used in this subparagraph, “funded ratio” means the

figure derived by dividing the actuarial value of

assets of the applicable retirement system by the

Oklahoma Statutes - Title 62. Public Finance

actuarial accrued liability of the applicable

retirement system,

g.

which modifies the disability pension standard for

police officers who are members of the Oklahoma Police

Pension and Retirement System as provided by Section

50-115 of Title 11 of the Oklahoma Statutes,

h.

which provides a cost-of-living benefit increase

pursuant to the provisions of:

(1) Section 49-143.7 of Title 11 of the Oklahoma

Statutes,

(2) Section 50-136.9 of Title 11 of the Oklahoma

Statutes,

(3) Section 1104K of Title 20 of the Oklahoma

Statutes,

(4) Section 2-305.12 of Title 47 of the Oklahoma

Statutes,

(5) Section 17-116.22 of Title 70 of the Oklahoma

Statutes,

(6) Section 930.11 of Title 74 of the Oklahoma

Statutes,

i.

which modifies the computation of the line-of-duty

disability benefit pursuant to the provisions of this

section and Sections 50-101 and 50-115 of Title 11 of

the Oklahoma Statutes, or

j.

which authorizes membership in the Oklahoma Law

Enforcement Retirement System for active commissioned

or CLEET-certified agents of the Office of the

Attorney General or the Military Department of the

State of Oklahoma pursuant to Sections 3 and 4 of this

act.

A nonfiscal retirement bill shall include any retirement bill that

has as its sole purpose the appropriation or distribution or

redistribution of monies in some manner to a retirement system for

purposes of reducing the unfunded liability of such system or the

earmarking of a portion of the revenue from a tax to a retirement

system or increasing the percentage of the revenue earmarked from a

tax to a retirement system;

6. “Reduction-in-cost amendment” means an amendment to a

retirement bill having a fiscal impact which reduces the cost of the

bill as such cost is determined by the actuarial investigation for

the bill prepared pursuant to Section 3109 of this title;

7. “Retirement bill” means any bill or joint resolution

introduced or any bill or joint resolution amended by a member of

the Legislature which creates or amends any law directly affecting a

retirement system. A retirement bill shall not mean a bill or

resolution that impacts the revenue of any state tax in which a

Oklahoma Statutes - Title 62. Public Finance

portion of the revenue generated from such tax is earmarked for the

benefit of a retirement system;

8. “Retirement bill having a fiscal impact” means any

retirement bill creating or establishing a retirement system and any

other retirement bill other than a nonfiscal retirement bill; and

9. “Retirement system” means the Teachers’ Retirement System of

Oklahoma, the Oklahoma Public Employees Retirement System, the

Uniform Retirement System for Justices and Judges, the Oklahoma

Firefighters Pension and Retirement System, the Oklahoma Police

Pension and Retirement System, the Oklahoma Law Enforcement

Retirement System, or a retirement system established after January

1, 2006.

Added by Laws 2006, c. 292, § 3, eff. July 1, 2006. Amended by Laws

2007, c. 367, § 3, eff. July 1, 2007; Laws 2008, c. 3, § 32, emerg.

eff. Feb. 28, 2008; Laws 2011, c. 199, § 1; Laws 2018, c. 44, § 1,

eff. Oct. 1, 2018; Laws 2018, c. 245, § 2, eff. Sept. 1, 2018; Laws

2020, c. 120, § 2, emerg. eff. May 21, 2020; Laws 2021, c. 101, § 7,

emerg. eff. April 20, 2021; Laws 2022, c. 306, § 1, eff. Oct. 1,

2022; Laws 2024, c. 361, § 2, emerg. eff. May 30, 2024.

NOTE: Laws 2007, c. 186, § 2 repealed by Laws 2008, c. 3, § 33,

emerg. eff. Feb. 28, 2008. Laws 2020, c. 121, § 1 repealed by Laws

2021, c. 101, § 8, emerg. eff. April 20, 2021.

NOTE: Laws 2022, c. 306, § 1 was purportedly repealed by Laws 2024,

c. 452, § 130 but without reference to Laws 2024, c. 361, § 2, which

amended it.