Shown verbatim: the complete text as captured from the official PDF posted by the Oklahoma Legislature, fetched 2026-07-23. Page and line markers are part of the official record; nothing is edited or removed. The official bill page.
RBS No. 1056
1 STATE OF OKLAHOMA
1
2 1st Session of the 60th Legislature (2025)
2
3 SENATE BILL 134 By: Frix
3
4
4
5
5
6
6
7 AS INTRODUCED
7
8 An Act relating to the Oklahoma Public Employees
8 Retirement System; amending 74 O.S. 2021, Section
9 914, which relates to retirement provisions; updating
9 statutory reference; updating statutory language;
10 modifying separation period for employee prior to
10 rehiring with participating employer; and providing
11 an effective date.
11
12
12
13
13
14 BE IT ENACTED BY THE PEOPLE OF THE STATE OF OKLAHOMA:
14
15 SECTION 1. AMENDATORY 74 O.S. 2021, Section 914, is
15
16 amended to read as follows:
16
17 Section 914. A. The normal retirement date for a member of the
17
18 Oklahoma Public Employees Retirement System shall be as defined in
18
19 Section 902 of this title, provided members employed on or after
19
20 January 1, 1983, shall have six (6) or more years of full-time-
20
21 equivalent employment with a participating employer before receiving
21
22 any retirement benefits or, if the member is a legislative session
22
23 employee of the Legislature, shall have three (3) or more years of
23
24 full-time-equivalent employment with a participating employer before
24
Req. No. 1056 Page 1
RBS No. 1056
1 receiving any retirement benefits. In no event shall a normal
1
2 retirement date for a member be before six (6) months after the
2
3 entry date of the participating employer by whom he or she is
3
4 employed.
4
5 B. A member may be employed beyond the normal retirement date
5
6 by the appointing authority of the participating employer. However,
6
7 the member may not receive retirement pay so long as the member
7
8 continues employment under this act Section 901 et seq. of this
8
9 title. Any member who has terminated employment with a
9
10 participating employer prior to the month immediately preceding said
10
11 the member's normal retirement date must elect a vested benefit
11
12 pursuant to Section 917 of this title before receiving any
12
13 retirement benefits.
13
14 C. Notice for retirement shall be filed through the retirement
14
15 coordinator for the participating employer in such form and manner
15
16 as the Board Oklahoma Public Employees Retirement System Board of
16
17 Trustees shall prescribe; provided, that such notice for retirement
17
18 shall be filed with the office of the retirement system at least
18
19 sixty (60) days prior to the date selected for the member's
19
20 retirement; provided further, that the Executive Director may waive
20
21 the sixty-day notice for good cause shown as defined by the Board.
21
22 1. The participating employer shall provide the System with the
22
23 following information for a retiring member, no later than the
23
24
24
Req. No. 1056 Page 2
RBS No. 1056
1 fifteenth day of the month of retirement: last day physically on
1
2 the job; last day on payroll; and final unused sick leave balance.
2
3 2. Failure to submit this information by the deadline, or
3
4 errors in submitted information that result in a disqualification of
4
5 retirement eligibility, shall be the responsibility of the
5
6 participating employer. In cases where the error results in
6
7 disqualification of retirement eligibility, it is the participating
7
8 employer's responsibility to reemploy the member, or retain the
8
9 member on the payroll, for time period required to reach
9
10 eligibility, not exceeding two (2) months.
10
11 D. No retirement benefits shall be payable to any member until
11
12 the first day of the month following the termination of the member's
12
13 employment with any participating employer. The type of retirement
13
14 benefit selected by a member may not be changed on or after the
14
15 effective date of the member's retirement. Receipt of workers'
15
16 compensation benefits shall in no respect disqualify the retiree for
16
17 benefits.
17
18 E. If a retiree should be elected or appointed to any position
18
19 or office for which compensation for service is paid from levies or
19
20 taxes imposed by the state or any political subdivision thereof, the
20
21 retiree shall not receive any retirement benefit for any month for
21
22 which the retiree serves in such position or office after the
22
23 retiree has received compensation in a sum equal to the amount
23
24 allowable as wages or earnings by the Social Security Administration
24
Req. No. 1056 Page 3
RBS No. 1056
1 in any calendar year. This subsection shall not apply to service
1
2 rendered by a retiree as a juror, as a witness in any legal
2
3 proceeding or action, as an election board judge or clerk, or in any
3
4 other office or position of a similar nature, or to an employer that
4
5 is not a participating employer. Provided, further, that any
5
6 participating employer who is employing such a retiree shall make
6
7 proper written notification to the System informing it of the
7
8 beginning date of such retiree's employment and the date such
8
9 retiree reaches the maximum compensation allowed by this section in
9
10 the calendar year. Any retiree returning to work for a
10
11 participating employer shall make contributions to the System and
11
12 the employer shall do likewise. All retirees who have returned to
12
13 employment and participation in the System following retirement
13
14 shall have post-retirement benefits calculated on one of the
14
15 following methods:
15
16 1. All service accumulated from date of reemployment shall be
16
17 computed based on the benefit formula applicable at that time and
17
18 the additional benefits shall be added to the previous benefits.
18
19 Such additional benefits shall be calculated each year based upon
19
20 additional service accrued from July 1 to June 30 of the previous
20
21 year and the additional benefit, if any, will be added to the
21
22 retiree's monthly benefit beginning January 1, 2000, and each
22
23 January 1 thereafter. However, the post-retirement service credit
23
24 shall be cumulative, beginning with service credit accrued after the
24
Req. No. 1056 Page 4
RBS No. 1056
1 date of retirement, provided that the retiree has not received a
1
2 distribution of the post-retirement contributions.;
2
3 2. Any retiree who returns to employment with a participating
3
4 employer may elect not to receive any retirement benefits while so
4
5 reemployed. If such an election is made and reemployment is for a
5
6 minimum period of thirty-six (36) consecutive months, all service
6
7 accumulated from date of reemployment shall be participating
7
8 service. For purposes of determining the retirement benefits of
8
9 such a member upon the termination of such reemployment all
9
10 creditable service of the member shall be computed based on the
10
11 benefit formula applicable at the time of termination of such
11
12 reemployment. Provided, a retiree who became reemployed prior to
12
13 July 1, 1982, and who is reemployed for a minimum of thirty-six (36)
13
14 consecutive months shall have all the creditable service of such
14
15 retiree computed based on the benefit formula applicable at the time
15
16 of termination of such reemployment if the retiree elects not to
16
17 receive retirement benefits prior to such termination of
17
18 reemployment. A retiree who has waived receipt of the monthly
18
19 benefit, but is not reemployed for the full thirty-six (36)
19
20 consecutive months, shall upon termination of such reemployment have
20
21 only the additional amount added to his or her benefit as if they
21
22 had not waived the benefit as provided in paragraph 1 of this
22
23 subsection.;
23
24
24
Req. No. 1056 Page 5
RBS No. 1056
1 3. All post-retirement additional benefits shall be calculated
1
2 using actual hours worked as well as the actual compensation
2
3 received and upon which contributions are paid. Post-retirement
3
4 service is not subject to the partial year round-up provisions of
4
5 subsection C of Section 913 of this title.; or
5
6 4. A retired member who returns to work for a participating
6
7 employer pursuant to this section shall be bound by the election
7
8 made pursuant to paragraph (2) of subsection A of Section 915 of
8
9 this title if the member had made such election prior to retirement.
9
10 If the member had not made such election prior to retirement, the
10
11 member may do so during the member's reemployment with a
11
12 participating employer pursuant to this section. A retired member
12
13 may not be rehired by their former employer, nor may the retired
13
14 member be permitted to enter into an employment contract of any kind
14
15 with a former employer, for a period of one (1) year six months
15
16 after the retired member ended his or her employment with the former
16
17 employer unless the retired member waives his or her benefit under
17
18 paragraph 2 of this subsection and returns as a bona fide employee.
18
19 F. Except as otherwise provided by subsection G of this
19
20 section, any member may elect to retire before his or her normal
20
21 retirement date on the first day of any month coinciding with or
21
22 following the attainment of age fifty-five (55), provided such
22
23 member has completed ten (10) years of participating service, but in
23
24 no event before six (6) months after the entry date. Any member who
24
Req. No. 1056 Page 6
RBS No. 1056
1 shall retire before the normal retirement date shall receive an
1
2 annual retirement benefit adjusted in accordance with the following
2
3 percentage schedule:
3
4 Percentage of Normal
4
5 Age Retirement Benefit
5
6 62 100.00%
6
7 61 93.33%
7
8 60 86.67%
8
9 59 80.00%
9
10 58 73.33%
10
11 57 66.67%
11
12 56 63.33%
12
13 55 60.00%
13
14 G. Any member whose first participating service occurs on or
14
15 after November 1, 2011, may elect to retire before his or her normal
15
16 retirement date on the first day of any month coinciding with or
16
17 following the attainment of age sixty (60), provided such member has
17
18 completed ten (10) years of participating service, but in no event
18
19 before six (6) months after the entry date. Any member who shall
19
20 retire before the normal retirement date shall receive an annual
20
21 retirement benefit adjusted in accordance with the following
21
22 percentage schedule:
22
23 Percentage of Normal
23
24 Age Retirement Benefit
24
Req. No. 1056 Page 7
RBS No. 1056
1 65 100.00%
1
2 64 93.33%
2
3 63 86.67%
3
4 62 80.00%
4
5 61 73.33%
5
6 60 66.67%
6
7 SECTION 2. This act shall become effective November 1, 2025.
7
8
8
9 60-1-1056 RD 12/27/2024 1:43:13 PM
9
10
10
11
11
12
12
13
13
14
14
15
15
16
16
17
17
18
18
19
19
20
20
21
21
22
22
23
23
24
24
Req. No. 1056 Page 8Every fact on this page links to its source, starting with the official bill record.