Oklahoma legislation · 2026 Regular Session
Oklahoma HB3313: Retirement; Retirement Freedom Act; minimum employer contribution amount; employer matching; vesting schedule for certain funds; reemployed participants; effective date.
Status: In committee, April 1, 2026
What the bill says
An Act relating to retirement; amending 74 O.S. 2021, Sections 935.5 and 935.7, as amended by Section 3, Chapter 47, O.S.L. 2024 (74 O.S. Supp. 2025, Section 935.7), which relate to the Retirement Freedom Act; modifying minimum employer contribution amount; modifying provisions related to employer matching; modifying minimum employee contribution amount; eliminating vesting schedule for certain funds; providing that reemployed participants shall be entitled to certain contributions; and providing an effective date.
From the engrossed text, March 12, 2026:
An Act relating to retirement; amending 74 O.S. 2021, Sections 935.5 and 935.7, as amended by Section 3, Chapter 47, O.S.L. 2024 (74 O.S. Supp. 2025, Section 935.7), which relate to the Retirement Freedom Act; modifying minimum employer contribution amount; modifying provisions related to employer matching; modifying minimum employee contribution amount; eliminating vesting schedule for certain funds; providing that reemployed participants shall be entitled to certain contributions; and providing an effective date. BE IT ENACTED BY THE PEOPLE OF THE STATE OF OKLAHOMA: SECTION 1. AMENDATORY 74 O.S. 2021, Section 935.5, is amended to read as follows: Section 935.5. A. Except as otherwise provided by subsection B of this section Beginning November 1, 2026, employers of employees who become participants in the defined contribution retirement system shall match the employee contribution paid on a monthly or more frequent basis at the rate of six percent (6.0%) seven percent (7.0%) based on the same compensation amount used to compute the employee contribution amount. ENGR. H. B. NO. 3313 Page RBH No. 17081 B. If an employee selects a contribution rate of seven percent (7.0%) or more, but not higher than allowed pursuant to the maximum annual contribution limit prescribed by Section 415 of the Internal Revenue Code of 1986, as amended, the employer matching amount shall be seven percent (7.0%). C. …