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Oklahoma Legislature· HB 4231Referred to Banking, Financial Services and Pensions

An act relating to retirement, the official text

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RBH No. 15342

1                   STATE OF OKLAHOMA

2   2nd Session of the 60th Legislature (2026)

3 HOUSE BILL 4231               By: Kannady

4

5

6                   AS INTRODUCED

7   An Act relating to retirement; amending 62 O.S. 2021,

    Section 3103, as last amended by Section 2, Chapter

8   361, O.S.L. 2024 (62 O.S. Supp. 2025, Section 3103),

    which relates to the Oklahoma Pension Legislation

9   Actuarial Analysis Act; modifying definition;

    amending 11 O.S. 2021, Sections 49-100.1, as last

10  amended by Section 1, Chapter 142, O.S.L. 2025 (11

    O.S. Supp. 2025, Section 49-100.1), 49-109, as

11  amended by Section 4, Chapter 151, O.S.L. 2023 (11

    O.S. Supp. 2025, Section 49-109), 49-117.1, as last

12  amended by Section 3, Chapter 142, O.S.L. 2025 (11

    O.S. Supp. 2025, Section 49-117.1), and 49-122, which

13  relate to the Oklahoma Firefighters Pension and

    Retirement System; increasing computation factor used

14  to calculate accrued retirement benefit; increasing

    computation factor used to calculate disability

15  retirement benefit; modifying computation for monthly

    retirement annuity; increasing the municipal

16  contribution; providing effective dates; providing

    for contingent effective dates based on outcome of

17  approval of the emergency clause; and declaring an

    emergency.

18

19

20

21 BE IT ENACTED BY THE PEOPLE OF THE STATE OF OKLAHOMA:

22  SECTION 1.      AMENDATORY  62 O.S. 2021, Section 3103, as

23 last amended by Section 2, Chapter 361, O.S.L. 2024 (62 O.S. Supp.

24 2025, Section 3103), is amended to read as follows:

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1   Section 3103. As used in the Oklahoma Pension Legislation

2 Actuarial Analysis Act:

3   1. "Amendment" means any amendment, including a substitute

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

5 Representatives or Senate, any conference committee of the House or

6 Senate or by the House or Senate;

7   2. "RB number" means that number preceded by the letters "RB"

8 assigned to a retirement bill by the respective staffs of the

9 Oklahoma State Senate and the Oklahoma House of Representatives when

10 the respective staff office prepares a retirement bill for a member

11 of the Legislature;

12  3. "Legislative Actuary" means the firm or entity that enters

13 into a contract with the Legislative Service Bureau pursuant to

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

15 actuarial services and other duties provided for in the Oklahoma

16 Pension Legislation Actuarial Analysis Act;

17  4. "Nonfiscal amendment" means an amendment to a retirement

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

19 factor of an actuarial investigation specified in subsection A of

20 Section 3109 of this title;

21  5. "Nonfiscal retirement bill" means a retirement bill:

22  a. which does not affect the cost or funding factors of a

23  retirement system,

24

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1   b. which affects such factors only in a manner which does

2   not:

3   (1) grant a benefit increase under the retirement

4                   system affected by the bill,

5   (2) create an actuarial accrued liability for or

6                   increase the actuarial accrued liability of the

7                   retirement system affected by the bill, or

8   (3) increase the normal cost of the retirement system

9                   affected by the bill,

10  c. which authorizes the purchase by an active member of

11  the retirement system, at the actuarial cost for the

12  purchase as computed pursuant to the statute in effect

13  on the effective date of the measure allowing such

14  purchase, of years of service for purposes of reaching

15  a normal retirement date in the applicable retirement

16  system, but which cannot be used in order to compute

17  the number of years of service for purposes of

18  computing the retirement benefit for the member,

19  d. which provides for the computation of a service-

20  connected disability retirement benefit for members of

21  the Oklahoma Law Enforcement Retirement System

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

23  Statutes if the members were unable to complete twenty

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

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1   e. which requires membership in the defined benefit plan

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

3   Oklahoma Statutes for persons whose first elected or

4   appointed service occurs on or after November 1, 2018,

5   if such persons had any prior service in the Oklahoma

6   Public Employees Retirement System prior to November

7   1, 2015,

8   f. which provides for a one-time increase in retirement

9   benefits if the increase in retirement benefits is not

10  a permanent increase in the gross annual retirement

11  benefit payable to a member or beneficiary, occurs

12  only once pursuant to a single statutory authorization

13  and does not exceed:

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

15                  annual retirement benefit of the member or One

16                  Thousand Dollars ($1,000.00) and requires that

17                  the benefit may only be provided if the funded

18                  ratio of the affected retirement system would not

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

20                  than eighty percent (80%) after the benefit

21                  increase is paid,

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

23                  annual retirement benefit of the member or One

24                  Thousand Two Hundred Dollars ($1,200.00) and

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1                   requires that the benefit may only be provided if

2                   the funded ratio of the affected retirement

3                   system would be greater than eighty percent (80%)

4                   but not greater than one hundred percent (100%)

5                   after the benefit increase is paid,

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

7                   annual retirement benefit of the member or One

8                   Thousand Four Hundred Dollars ($1,400.00) and

9                   requires that the benefit may only be provided if

10                  the funded ratio of the affected retirement

11                  system would be greater than one hundred percent

12                  (100%) after the benefit increase is paid, or

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

14                  annual retirement benefit of the volunteer

15                  firefighter or One Hundred Dollars ($100.00) for

16                  persons who retired from the Oklahoma

17                  Firefighters Pension and Retirement System as

18                  volunteer firefighters and who did not retire

19                  from the Oklahoma Firefighters Pension and

20                  Retirement System as a paid firefighter.

21  As used in this subparagraph, "funded ratio" means the

22  figure derived by dividing the actuarial value of

23  assets of the applicable retirement system by the

24

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1   actuarial accrued liability of the applicable

2   retirement system,

3   g. which modifies the disability pension standard for

4   police officers who are members of the Oklahoma Police

5   Pension and Retirement System as provided by Section

6   50-115 of Title 11 of the Oklahoma Statutes,

7   h. which provides a cost-of-living benefit increase

8   pursuant to the provisions of:

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

10                  Statutes,

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

12                  Statutes,

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

14                  Statutes,

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

16                  Statutes,

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

18                  Statutes,

19  (6) Section 930.11 of Title 74 of the Oklahoma

20                  Statutes,

21  i. which modifies the computation of the line-of-duty

22  disability benefit pursuant to the provisions of this

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

24  the Oklahoma Statutes, or

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1   j. which authorizes membership in the Oklahoma Law

2   Enforcement Retirement System for active commissioned

3   or CLEET-certified agents of the Office of the

4   Attorney General or the Military Department of the

5   State of Oklahoma pursuant to Sections 3 2-309.9 and 4

6   2-309.10 of this act Title 47 of the Oklahoma

7   Statutes, or

8   k. which increases the computation factor used to

9   calculate the accrued retirement benefit and

10  disability retirement benefit pursuant to Sections 49-

11  100.1 and 49-109 of Title 11 of the Oklahoma Statutes,

12  modifies the computation of a retirement annuity

13  pursuant to Section 49-117.1 of Title 11 of the

14  Oklahoma Statute, and increases the municipal

15  contribution pursuant to Section 49-122 of Title 11 of

16  the Oklahoma Statutes.

17 A nonfiscal retirement bill shall include any retirement bill that

18 has as its sole purpose the appropriation or distribution or

19 redistribution of monies in some manner to a retirement system for

20 purposes of reducing the unfunded liability of such system or the

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

22 system or increasing the percentage of the revenue earmarked from a

23 tax to a retirement system;

24

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1   6. "Reduction-in-cost amendment" means an amendment to a

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

3 bill as such cost is determined by the actuarial investigation for

4 the bill prepared pursuant to Section 3109 of this title;

5   7. "Retirement bill" means any bill or joint resolution

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

7 the Legislature which creates or amends any law directly affecting a

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

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

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

11 benefit of a retirement system;

12  8. "Retirement bill having a fiscal impact" means any

13 retirement bill creating or establishing a retirement system and any

14 other retirement bill other than a nonfiscal retirement bill; and

15  9. "Retirement system" means the Teachers' Retirement System of

16 Oklahoma, the Oklahoma Public Employees Retirement System, the

17 Uniform Retirement System for Justices and Judges, the Oklahoma

18 Firefighters Pension and Retirement System, the Oklahoma Police

19 Pension and Retirement System, the Oklahoma Law Enforcement

20 Retirement System, or a retirement system established after January

21 1, 2006.

22  SECTION 2.      AMENDATORY      11 O.S. 2021, Section 49-100.1, as

23 last amended by Section 1, Chapter 142, O.S.L. 2025 (11 O.S. Supp.

24 2025, Section 49-100.1), is amended to read as follows:

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1   Section 49-100.1. As used in this article:

2   1. "System" means the Oklahoma Firefighters Pension and

3 Retirement System and all predecessor municipal firefighters pension

4 and retirement systems;

5   2. "Article" means Article 49 of this title;

6   3. "State Board" means the Oklahoma Firefighters Pension and

7 Retirement Board;

8   4. "Local board" means the local firefighters pension and

9 retirement boards;

10  5. "Fund" means the Oklahoma Firefighters Pension and

11 Retirement Fund;

12  6. "Member" means all eligible firefighters of a participating

13 municipality or a fire protection district who perform the essential

14 functions of fire suppression, prevention, and life safety duties in

15 a fire department. The term "member" shall include but not be

16 limited to the person serving as fire chief of any participating

17 municipality, provided that a person serving as fire chief of a

18 participating municipality shall meet the age, agility, physical and

19 other eligibility requirements required by law at the time said

20 person becomes a member of the System. Effective July 1, 1987, a

21 member does not include a "leased employee". The term "leased

22 employee" means any person (other than an employee of the recipient)

23 who pursuant to an agreement between the recipient and any other

24 person ("leasing organization") has performed services for the

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1 recipient (or for the recipient and related persons determined in

2 accordance with Section 414(n)(6) of the Internal Revenue Code of

3 1986, as amended) on a substantially full-time basis for a period of

4 at least one (1) year, and such services are performed under primary

5 direction or control by the recipient. Contributions or benefits

6 provided a leased employee by the leasing organization which are

7 attributable to services performed for the recipient employer shall

8 be treated as provided by the recipient employer. A leased employee

9 shall not be considered an employee of the recipient if the

10 requirements of the safe harbor provisions of Section 414(n)(5) of

11 the Internal Revenue Code of 1986, as amended, are satisfied.

12 Effective July 1, 1999, any individual who agrees with the

13 participating municipality that the individual's services are to be

14 performed as a leased employee or an independent contractor shall

15 not be a member regardless of any classification as a common law

16 employee by the Internal Revenue Service or any other governmental

17 agency, or any court of competent jurisdiction;

18  7. "Normal retirement date" means the date at which the member

19 is eligible to receive the unreduced payments of the member's

20 accrued retirement benefit. Such date shall be the first day

21 following the date the member completes twenty (20) years of

22 credited service. If the member's employment continues past the

23 normal retirement date of the member, the actual retirement date of

24 the member shall be the first day following the date the member

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1 terminates employment with more than twenty (20) years of credited

2 service;

3   8. "Credited service" means the period of service used to

4 determine the eligibility for and the amount of benefits payable to

5 a member. Credited service shall consist of the period during which

6 the member participated in the System or the predecessor municipal

7 systems as an active employee in an eligible membership

8 classification, plus any service prior to the establishment of the

9 predecessor municipal systems which was credited under the

10 predecessor municipal systems; provided, however, "credited service"

11 for members from a fire protection district shall not begin accruing

12 before July 1, 1982;

13  9. "Participating municipality" means a municipality, county

14 fire department organized pursuant to subsection D of Section 351 of

15 Title 19 of the Oklahoma Statutes, or fire protection district which

16 is making contributions to the System on behalf of its firefighters.

17 All participating municipalities shall appoint a fire chief who

18 shall supervise and administer the fire department;

19  10. "Disability" means the complete inability of the

20 firefighter to perform any and every duty of the firefighter's

21 regular occupation; provided further, that once benefits have been

22 paid for twenty-four (24) months the provisions of Section 49-110 of

23 this title shall apply to the firefighter;

24

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1   11. "Executive Director" means the managing officer of the

2 System employed by the State Board;

3   12. "Eligible employer" means any municipality with a municipal

4 fire department, any county fire department organized pursuant to

5 subsection D of Section 351 of Title 19 of the Oklahoma Statutes or

6 any fire protection district with an organized fire department;

7   13. "Entry date" means the date as of which an eligible

8 employer joins the System. The first entry date pursuant to this

9 article shall be January 1, 1981;

10  14. "Final average salary" means the average paid gross salary

11 of the firefighter for normally scheduled hours over the highest

12 salaried thirty (30) consecutive months of the last sixty (60)

13 months of credited service. Gross salary shall not include payment

14 for accumulated sick or annual leave upon termination of employment,

15 any uniform allowances or any other compensation for reimbursement

16 of out-of-pocket expenses. Only salary on which the required

17 contributions have been made may be used in computing the final

18 average salary. Effective January 1, 1988, gross salary shall

19 include any amount of elective salary reduction under Section 125 of

20 the Internal Revenue Code of 1986, as amended. Gross salary shall

21 include any amount of elective salary reduction under Section 457 of

22 the Internal Revenue Code of 1986, as amended, and any amount of

23 nonelective salary reduction under Section 414(h) of the Internal

24 Revenue Code of 1986, as amended. Effective July 1, 1998, for

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1 purposes of determining a member's compensation, any contribution by

2 the member to reduce the member's regular cash remuneration under

3 Section 132(f)(4) of the Internal Revenue Code of 1986, as amended,

4 shall be treated as if the member did not make such an election.

5 Only salary on which required contributions have been made may be

6 used in computing final average salary.

7   In addition to other applicable limitations, and notwithstanding

8 any other provision to the contrary, for plan years beginning on or

9 after July 1, 2002, the annual gross salary of each "Noneligible

10 Member" taken into account under the System shall not exceed the

11 Economic Growth and Tax Relief Reconciliation Act of 2001 ("EGTRRA")

12 annual salary limit. The EGTRRA annual salary limit is Two Hundred

13 Thousand Dollars ($200,000.00), as adjusted by the Commissioner for

14 increases in the cost of living in accordance with Section

15 401(a)(17)(B) of the Internal Revenue Code of 1986, as amended. The

16 annual salary limit in effect for a calendar year applies to any

17 period, not exceeding twelve (12) months, over which salary is

18 determined ("determination period") beginning in such calendar year.

19 If a determination period consists of fewer than twelve (12) months,

20 the EGTRRA salary limit will be multiplied by a fraction, the

21 numerator of which is the number of months in the determination

22 period, and the denominator of which is twelve (12). For purposes

23 of this subsection, a "Noneligible Member" is any member who first

24

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1 became a member during a plan year commencing on or after July 1,

2 1996.

3   For plan years beginning on or after July 1, 2002, any reference

4 to the annual salary limit under Section 401(a)(17) of the Internal

5 Revenue Code of 1986, as amended, shall mean the EGTRRA salary limit

6 set forth in this subsection.

7   Effective June 9, 2010, gross salary shall also include gross

8 salary, as described above, for services, but paid by the later of

9 two and one-half (2 1/2) months after a firefighter's severance from

10 employment or the end of the calendar year that includes the date

11 the firefighter terminated employment, if it is a payment that,

12 absent a severance from employment, would have been paid to the

13 firefighter while the firefighter continued in employment with the

14 participating municipality.

15  Effective June 9, 2010, any payments not described above shall

16 not be considered gross salary if paid after severance from

17 employment, even if they are paid by the later of two and one-half

18 (2 1/2) months after the date of severance from employment or the

19 end of the calendar year that includes the date of severance from

20 employment, except payments to an individual who does not currently

21 perform services for the participating municipality by reason of

22 qualified military service within the meaning of Section 414(u)(5)

23 of the Internal Revenue Code of 1986, as amended, to the extent

24 these payments do not exceed the amounts the individual would have

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1 received if the individual had continued to perform services for the

2 participating municipality rather than entering qualified military

3 service.

4   Effective June 9, 2010, back pay, within the meaning of Section

5 1.415(c)-2(g)(8) of the Income Tax Regulations, shall be treated as

6 gross salary for the year to which the back pay relates to the

7 extent the back pay represents wages and compensation that would

8 otherwise be included in this definition.

9   Effective for years beginning after December 31, 2008, gross

10 salary shall also include differential wage payments under Section

11 414(u)(12) of the Internal Revenue Code of 1986, as amended;

12  15. "Accrued retirement benefit" means, for benefits computed

13 prior to the effective date of this act, two and one-half percent (2

14 1/2%) of the firefighter's final average salary multiplied by the

15 member's years of credited service not to exceed thirty (30) years.

16  For a member who retires on or after the effective date of this

17 act, accrued retirement benefit shall mean:

18          a. for members who retire and terminate employment at

19          least one (1) year after the effective date of this

20          act, and have at least twenty-five (25) years of

21          credited service, three percent (3%) of the member's

22          final average salary multiplied by the member's years

23          of credited service, not to exceed thirty (30) years,

24

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1   b. for members who retire and terminate employment at

2   least two (2) years after the effective date of this

3   act, and have at least twenty (20) years of credited

4   service, three percent (3%) of the member's final

5   average salary multiplied by the member's years of

6   credited service, not to exceed thirty (30) years,

7   c. for members who retire and terminate employment at

8   least five (5) years after the effective date of this

9   act, three percent (3%) of the member's final average

10  salary multiplied by the member's years of credited

11  service, not to exceed thirty (30) years, and

12  d. for members who retire and terminate employment on or

13  after the effective date of this act, but do not have

14  the minimum years of credited service to qualify for

15  the benefit outlined in subparagraphs a and b of this

16  paragraph, or retire and terminate employment prior to

17  the date outlined in subparagraph c of this paragraph,

18  two and one-half percent (2 1/2%) of the member's

19  final average salary multiplied by the member's years

20  of credited service, not to exceed thirty (30) years;

21  16. "Beneficiary" means a member's surviving spouse or any

22 surviving children, including biological and adopted children, at

23 the time of the member's death. The surviving spouse must have been

24 married to the firefighter for the thirty (30) continuous months

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1 preceding the firefighter's death provided a surviving spouse of a

2 member who died while in, or as a consequence of, the performance of

3 the member's duty for a participating municipality, shall not be

4 subject to the marriage limitation for survivor benefits. A

5 surviving child of a member shall be a beneficiary until reaching

6 eighteen (18) years of age or twenty-two (22) years of age if the

7 child is enrolled full time and regularly attending a public or

8 private school or any institution of higher education. Any child

9 adopted by a member after the member's retirement shall be a

10 beneficiary only if the child is adopted by the member for the

11 thirty (30) continuous months preceding the member's death. Any

12 child who is adopted by a member after the member's retirement and

13 such member dies accidentally or as a consequence of the performance

14 of the member's duty as a firefighter shall not be subject to the

15 thirty-month adoption requirement. This definition of beneficiary

16 shall be in addition to any other requirement set forth in this

17 article;

18  17. "Contributions" means payments remitted to the System

19 pursuant to Section 49-122 or subsection A of Section 49-138 of this

20 title. Contributions shall not include payments made to repurchase

21 credited service pursuant to Section 49-117.1 of this title,

22 payments made to transfer credited service from another retirement

23 system pursuant to subsection A of Section 49-117.2 or Section 49-

24 117.3 of this title, or payments made to purchase prior military

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1 service credit pursuant to subsection E of Section 49-138 of this

2 title;

3   18. "Accumulated contributions" means the sum of all

4 contributions made by a member to the System and includes both

5 contributions deducted from the compensation of a member and

6 contributions of a member picked up and paid by the participating

7 municipality of the member. Accumulated contributions shall not

8 include any interest on the contributions of the member, interest on

9 any amount contributed by the municipality or state and any amount

10 contributed by the municipality or state; and

11  19. "Limitation year" means the year used in applying the

12 limitations of Section 415 of the Internal Revenue Code of 1986,

13 which year shall be the calendar year.

14  SECTION 3.      AMENDATORY  11 O.S. 2021, Section 49-109, as

15 amended by Section 4, Chapter 151, O.S.L. 2023 (11 O.S. Supp. 2025,

16 Section 49-109), is amended to read as follows:

17  Section 49-109. A. Whenever any firefighter serving in any

18 capacity in a regularly constituted fire department of a

19 municipality shall become so physically or mentally disabled while

20 in, or in consequence of, the performance of the firefighter's duty

21 as to prevent the effective performance of the firefighter's duties,

22 the State Board may, upon the firefighter's written request, or

23 without such request if the State Board deems it for the good of the

24 department, retire the firefighter from active service, and if so

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1 retired, shall direct that the firefighter be paid from the System a

2 monthly pension equal to the greater of:

3   1. Fifty percent (50%) of the average monthly salary which was

4 paid to the firefighter during the last thirty (30) months of the

5 firefighter's service; or

6   2. Two For benefits computed prior to the effective date of

7 this act, two and one-half percent (2 1/2%) of the firefighter's

8 final average salary multiplied by the member's years of credited

9 service, not to exceed thirty (30) years, provided such firefighter

10 has completed twenty (20) or more years of credited service; or

11  3. For benefits computed on or after the effective date of this

12 act, three percent (3%) of the firefighter's final average salary

13 multiplied by the member's years of credited service, not to exceed

14 thirty (30) years, provided such firefighter has completed twenty

15 (20) or more years of credited service.

16  B. If the disability ceases within two (2) years from the date

17 of the firefighter's disability retirement and before the

18 firefighter's normal retirement date, the formerly disabled person

19 shall be restored to active service at the salary attached to the

20 rank the firefighter held at the time of the firefighter's

21 disability retirement provided the firefighter is capable of

22 performing the duties of a firefighter. Whenever such disability

23 shall cease, such disability pension provided pursuant to paragraph

24 1 of subsection A of this section shall cease. If a firefighter

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1 participates in the Oklahoma Firefighters Deferred Option Plan

2 pursuant to Section 49-106.1 of this title, the firefighter's

3 disability pension provided pursuant to this subsection shall be

4 reduced to account for the firefighter's participation in the

5 Oklahoma Firefighters Deferred Option Plan.

6   C. Whenever any firefighter, who has served in any capacity in

7 a regularly constituted fire department of a municipality of the

8 state, and who has served less than the firefighter's normal

9 retirement date, shall become so physically or mentally disabled

10 from causes not arising in the line of duty as to prevent the

11 effective performance of the firefighter's duties, the firefighter

12 shall be entitled to a pension during the continuance of such

13 disability based upon the firefighter's service period which shall

14 be fifty percent (50%) of the average monthly salary which was paid

15 to the firefighter during the last sixty (60) months of the

16 firefighter's service.

17  D. No firefighter shall accrue additional service time while

18 receiving a disability pension; provided further, that nothing

19 herein contained shall affect the eligibility of any firefighter to

20 apply for and receive a retirement pension after the firefighter's

21 normal retirement date; provided further, that no firefighter shall

22 receive retirement benefits from the System during the time the

23 firefighter is receiving disability benefits from the System. Any

24 member or beneficiary eligible to receive a monthly benefit pursuant

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1 to this section may make an election to waive all or a portion of

2 monthly benefits.

3   E. If the requirements of Section 49-106.5 of this title are

4 satisfied, a member who, by reason of disability, is separated from

5 service as a public safety officer with the member's participating

6 municipality, may elect to have payment made directly to the

7 provider for qualified health insurance premiums by deduction from

8 his or her monthly disability benefit, after December 31, 2006, in

9 accordance with Section 402(l) of the Internal Revenue Code of 1986,

10 as amended. For distributions made after December 29, 2022, the

11 election provided for under Section 402(l) of the Internal Revenue

12 Code of 1986, as amended, may be made whether payment of the

13 premiums is made directly to the provider of the accident or health

14 plan or qualified long-term care insurance contract by deduction

15 from a distribution from the System or is made to the member.

16  SECTION 4.       AMENDATORY  11 O.S. 2021, Section 49-117.1, as

17 last amended by Section 3, Chapter 142, O.S.L. 2025 (11 O.S. Supp.

18 2025, Section 49-117.1), is amended to read as follows:

19  Section 49-117.1. A. A member who terminates service before

20 normal retirement date, other than by death or disability shall,

21 upon application filed with the State Board, be refunded from the

22 Fund an amount equal to the sum of:

23  1. Accumulated contributions the member has made to the Fund;

24

    Req. No. 15342                                                Page 21
                                        RBH No. 15342

1   2. Payments made to repurchase credited service pursuant to

2 this section;

3   3. Payments made to transfer credited service from another

4 retirement system pursuant to subsection A of Section 49-117.2 or

5 Section 49-117.3 of this title; and

6   4. Payments made to purchase prior military service credit

7 pursuant to subsection E of Section 49-138 of this title.

8 A refund made pursuant to this paragraph shall exclude interest

9 earned or paid with respect to any contribution or payment described

10 in subparagraphs 1 through 4 of this subsection, and any amount

11 contributed by the municipality or state, and interest earned with

12 respect to such contributed amount.

13  B. If a member has completed ten (10) years of credited service

14 at the date of termination, the member may elect a vested benefit in

15 lieu of receiving the refund described in subsection A of this

16 section.

17  C. If the member who has completed ten (10) or more years of

18 credited service as prescribed by subsection B of this section

19 elects the vested benefit, the member shall be entitled to a monthly

20 retirement annuity commencing on the date the member reaches fifty

21 (50) years of age or the date the member would have had twenty (20)

22 years of credited service had the member's employment continued

23 uninterrupted, whichever is later. The annual amount of such

24 retirement annuity shall be equal to two and one-half percent (2

    Req. No. 15342                                                 Page 22
                                                             RBH No. 15342

1 1/2%) of the annualized final average salary multiplied by the

2 number of years of credited service not to exceed thirty (30) years.

3 For a monthly retirement annuity commencing on or after the

4 effective date of this act, the annual amount of such retirement

5 annuity shall be computed pursuant to the annualized final average

6 salary as defined pursuant to paragraph 14 of Section 49-100.1 of

7 this title multiplied by the number of years of credited service.

8 The death benefits provided for in Section 49-113.2 of this title

9 shall not apply to any member retiring under the provisions of this

10 section.

11  D. If a member who terminated employment and elected, or was

12 eligible to elect, a vested benefit dies prior to being eligible to

13 receive benefits, the member's beneficiary, as defined in paragraph

14 16 of Section 49-100.1 of this title, shall be entitled to the

15 member's normal monthly retirement benefit on the date the deceased

16 member would have been eligible to receive the benefit.

17  E. If a member terminates employment and withdraws the member's

18 accumulated contributions and then subsequently rejoins the System,

19 he may pay to the System the sum of the accumulated contributions he

20 has withdrawn plus ten percent (10%) annual interest from the date

21 of withdrawal to the date of repayment and shall receive the same

22 benefits as if he had never withdrawn his contributions.

23  F. Members may make the repayment described in subsection E of

24 this section in cash by a trustee-to-trustee transfer or direct

    Req. No. 15342                                                 Page 23
                   RBH No. 15342

1 rollover of non-Roth funds from a Code Section 403(b) annuity or

2 custodial account, an eligible deferred compensation plan described

3 in Code Section 457(b) which is maintained by an eligible employer

4 described in Code Section 457(e)(1)(A), a Code Section 401(a)

5 qualified plan, or a combination thereof, provided that after-tax

6 funds in retirement plans shall not be used to make a repayment.

7  G. In the event the member does not pay the purchase price in

8 whole or part pursuant to subsection F of this section, the State

9 Board may permit the member to pay the remaining purchase price in

10 cash by certified check, to amortize the remaining purchase price

11 over a period not to exceed sixty (60) months, or other method

12 approved by the State Board. Any amortized payments under this

13 subsection shall be made by payroll deductions on an after-tax basis

14 and shall not be picked up by the member's employer. The amortized

15 payments shall include interest at a rate not to exceed the

16 actuarially assumed interest rate adopted by the State Board for

17 investment earnings each year. Any member who ceases to make

18 payment, terminates, retires, or dies before completing the payments

19 provided for in this subsection shall receive prorated service

20 credit for only those payments made, not including interest, unless

21 the unpaid balance, including interest, is paid by the member, the

22 member's surviving spouse, the member's beneficiary, or the member's

23 estate or successor in interest within ninety (90) days after the

24 first to occur of said member's termination, retirement, or death;

   Req. No. 15342                                                  Page 24
                                RBH No. 15342

1 provided that no retirement benefits shall be payable until the

2 earliest of the date the unpaid balance is paid in full or ninety

3 (90) days after the first to occur of the member's termination,

4 retirement, or death.

5   H. A firefighter shall not be permitted to withdraw from the

6 System while employed as a firefighter in a participating

7 municipality.

8   I. The State Board shall promulgate such rules or procedures as

9 are necessary to implement the provisions of this section.

10  SECTION 5.      AMENDATORY  11 O.S. 2021, Section 49-122, is

11 amended to read as follows:

12  Section 49-122. A. Each municipality having a paid member of a

13 fire department shall deduct monthly from the salary of each member

14 of the fire department of such municipality an amount equal to nine

15 percent (9%) of the actual paid gross salary of each member of the

16 fire department. The deduction shall be considered the minimum

17 deduction. At the option of the municipality, the municipality may

18 pay all or any part of the member's required contribution. The

19 treasurer of each municipality shall deduct the authorized

20 deductions from the salary of each paid member of the fire

21 department. The treasurer of the municipality shall deposit within

22 ten (10) days from each ending payroll date in the System the amount

23 deducted from the salary of each member of the fire department.

24 Amounts deducted from the salary of a member and not paid to the

    Req. No. 15342                                             Page 25
                                                   RBH No. 15342

1 System after thirty (30) days from each ending payroll date shall be

2 subject to a monthly late charge of one and one-half percent (1

3 1/2%) of the unpaid balance to be paid by the municipality to the

4 System.

5   Each municipality shall pick up under the provisions of Section

6 414(h)(2) of the Internal Revenue Code of 1986, as amended, and pay

7 the contribution which the member is required by law to make to the

8 System for all compensation earned after December 31, 1988.

9 Although the contributions so picked up are designated as member

10 contributions, such contributions shall be treated as contributions

11 being paid by the municipality in lieu of contributions by the

12 member in determining tax treatment under the Internal Revenue Code

13 of 1986, as amended, and such picked up contributions shall not be

14 includable in the gross income of the member until such amounts are

15 distributed or made available to the member or the beneficiary of

16 the member. The member, by the terms of this System, shall not have

17 any option to choose to receive the contributions so picked up

18 directly and the picked up contributions must be paid by the

19 municipality to the System.

20  Member contributions which are picked up shall be treated in the

21 same manner and to the same extent as member contributions made

22 prior to the date on which member contributions were picked up by

23 the municipality. Member contributions so picked up shall be

24 included in salary for purposes of the System.

    Req. No. 15342                                                 Page 26
                                        RBH No. 15342

1   The municipality shall pay the member contributions from the

2 same source of funds used in paying salary to the member, by

3 effecting an equal cash reduction in gross salary of the member, or

4 by an offset against future salary increases, or by a combination of

5 reduction in gross salary and offset against future salary

6 increases.

7   The treasurer of each municipality shall deduct the picked up

8 contributions from the salary of each paid member of the fire

9 department. The treasurer of the municipality shall deposit monthly

10 in the System the amount picked up from the salary of each member of

11 the fire department.

12  B. Each municipality having a paid member of a fire department

13 shall deposit monthly with the State Board an amount equal to the

14 following:

15  1. Prior to July 1, 1991, ten percent (10%) of the total actual

16 paid gross salaries of the members of the fire department;

17  2. Beginning July 1, 1991 through June 30, 1992, ten and one-

18 half percent (10 1/2%) of the total actual paid gross salaries of

19 the members of the fire department;

20  3. Beginning July 1, 1992 through June 30, 1993, eleven percent

21 (11%) of the total actual paid gross salaries of the members of the

22 fire department;

23

24

    Req. No. 15342                                               Page 27
                                                RBH No. 15342

1       4. Beginning July 1, 1993 through June 30, 1994, eleven and

2 one-half percent (11 1/2%) of the total actual paid gross salaries

3 of the members of the fire department;

4       5. Beginning July 1, 1994 through June 30, 1995, twelve percent

5 (12%) of the total actual paid gross salaries of the members of the

6 fire department;

7       6. Beginning July 1, 1995 through June 30, 1996, twelve and

8 one-half percent (12 1/2%) of the total actual paid gross salaries

9 of the members of the fire department;

10      7. Beginning July 1, 1996, thirteen percent (13%) of the total

11 actual paid gross salaries of the members of the fire department;

12 and

13      8. Beginning November 1, 2013, fourteen percent (14%) of the

14 total actual paid gross salaries of the members of the fire

15 department; and

16      9. Beginning on the effective date of this act, a minimum of

17 fourteen percent (14%) of the actual paid base salary of each member

18 of the System employed by the municipality.

19      C. Each county or municipality having a volunteer member of a

20 fire department shall deposit yearly with the State Board Sixty

21 Dollars ($60.00) for each volunteer member of the department.

22      Provided, the above-mentioned volunteer county or municipal

23 contributions shall be reevaluated by the next scheduled actuarial

24 study and the amounts adjusted so that in a nine-year period of

    Req. No. 15342                                                Page 28
                                                    RBH No. 15342

1 time, the amounts would reflect the actuarial recommendations at

2 that time. Any county or municipality with an income of less than

3 Twenty-five Thousand Dollars ($25,000.00) to its general fund during

4 a fiscal year shall be exempt from the provisions of this

5 subsection.

6   Any municipality that fails to comply with the provisions of

7 this section shall not be entitled to its proportionate share of the

8 Motor Fuel Excise Tax which is received through the Oklahoma Tax

9 Commission. Any county or municipality may exceed the amount of

10 contribution required by this section.

11  The provisions of this section shall supersede any city charter

12 provision in direct conflict with this section.

13  SECTION 6. If the Emergency Clause is not approved pursuant to

14 the requirements of the Oklahoma Constitution as part of this

15 measure, the effective date of Section 1 of this act shall be

16 October 1, 2026.

17  SECTION 7. If the Emergency Clause is not approved pursuant to

18 the requirements of the Oklahoma Constitution as part of this

19 measure, the effective date of Sections 2 through 5 of this act

20 shall be November 1, 2026.

21  SECTION 8. Except as otherwise provided by Section 6 of this

22 act, Section 1 of this act shall become effective immediately upon

23 signature by the Governor or as otherwise provided by Section 58 of

24 Article V of the Oklahoma Constitution.

    Req. No. 15342                                                Page 29
                                   RBH No. 15342

1   SECTION 9. Except as otherwise provided by Section 7 of this

2 act, Sections 2 through 5 of this act shall become effective July 1,

3 2026.

4   SECTION 10. It being immediately necessary for the preservation

5 of the public peace, health or safety, an emergency is hereby

6 declared to exist, by reason whereof this act shall take effect and

7 be in full force from and after its passage and approval.

8

9   60-2-15342      CMA  01/08/26

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    Req. No. 15342                                               Page 30
THOMAS E. CUMMINS CONSULTING ACTUARY, INC.

2512 E. 71st Street , Suite D  Tulsa, Oklahoma 74136
(918) 492-9658  (918) 492- 9659

January 14, 2026

Representative Kannady
Room 240

Re: RBH No. 15342

RBH No. 15342 would increase benefits for firefighters.
         If a firefighter retires 1 year after the effective date of

this bill the benefit multiplier is 3% per year provided the
firefighter has at least 25 years of credited service.

         If a firefighter retires 2 years after the effective date of
this bill the benefit multiplier is 3% per year provided the
firefighter has at least 20 years of credited service.

         If a firefighter retires 5 years after the effective date of
this bill the benefit multiplier is 3% per year.

         If a firefighter retires without the minimum of 20 years of
service the multiplier is 2.5% per year pf service.

         OPLAAA is amended to define the above change to non fiscal.

RBH No. 15342 is a non fiscal bill as defined by OPLAAA as amended.
I am a member of the American Academy of Actuaries and meet the
Qualification Standards of the American Academy of Actuaries to
render the actuarial opinion herein.

Thomas E. Cummins

Thomas E. Cummins, MAAA
Every fact on this page links to its source, starting with the official bill record.