Oklahoma legislation · 2026 Regular Session
Oklahoma HB1245: Retirement; Oklahoma Public Employees Retirement System; term; retirement benefit computation; monthly pension; employee contributions; effective date.
Status: In committee, April 1, 2026
What the bill says
An Act relating to retirement; amending 74 O.S. 2021, Sections 902, as last amended by Section 1, Chapter 280, O.S.L. 2024 (74 O.S. Supp. 2025, Section 902), 915, as amended by Section 2, Chapter 280, O.S.L. 2024 (74 O.S. Supp. 2025, Section 915), 916.3, as amended by Section 3, Chapter 280, O.S.L. 2024 (74 O.S. Supp. 2025, Section 916.3), 919.1, as amended by Section 4, Chapter 280, O.S.L. 2024 (74 O.S. Supp. 2025, Section 919.1), and 935.2, which relate to the Oklahoma Public Employees Retirement System; defining term; providing retirement benefit computation for certain members…
From the engrossed text, March 25, 2026:
An Act relating to retirement; amending 74 O.S. 2021, Sections 902, as last amended by Section 1, Chapter 280, O.S.L. 2024 (74 O.S. Supp. 2025, Section 902), 915, as amended by Section 2, Chapter 280, O.S.L. 2024 (74 O.S. Supp. 2025, Section 915), 916.3, as amended by Section 3, Chapter 280, O.S.L. 2024 (74 O.S. Supp. 2025, Section 916.3), 919.1, as amended by Section 4, Chapter 280, O.S.L. 2024 (74 O.S. Supp. 2025, Section 919.1), and 935.2, which relate to the Oklahoma Public Employees Retirement System; defining term; providing retirement benefit computation for certain members; modifying who shall receive monthly pension; providing that certain election shall be irrevocable; modifying employee contributions for certain employees; and providing an effective date. BE IT ENACTED BY THE PEOPLE OF THE STATE OF OKLAHOMA: SECTION 1. AMENDATORY 74 O.S. 2021, Section 902, as last amended by Section 1, Chapter 280, O.S.L. 2024 (74 O.S. Supp. 2025, Section 902), is amended to read as follows: Section 902. As used in Section 901 et seq. of this title: ENGR. H. B. NO. 1245 Page RBH No. 17149 (1) "System" means the Oklahoma Public Employees Retirement System as established by Section 901 et seq. of this title and as it may hereafter be amended; (2) "Accumulated contributions" means the sum of all contributions by a member to …