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RBH No. 11069
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STATE OF OKLAHOMA
1st Session of the 60th Legislature (2025)
HOUSE BILL 2193 By: Wolfley
AS INTRODUCED
An Act relating to public retirement systems;
authorizing cost-of-living increases for certain
members of the Oklahoma Firefighters Pension and
Retirement System, the Oklahoma Police Pension and
Retirement System, the Uniform Retirement System for
Justices and Judges, the Oklahoma Law Enforcement
Retirement System, the Teachers' Retirement System of
Oklahoma, and the Oklahoma Public Employees
Retirement System; providing for codification; and
providing an effective date.
BE IT ENACTED BY THE PEOPLE OF THE STATE OF OKLAHOMA:
SECTION 1. NEW LAW A new section of law to be codified
in the Oklahoma Statutes as Section 49-143.8 of Title 11, unless
there is created a duplication in numbering, reads as follows:
A. Except as provided in subsection B of this section and
except for persons receiving benefits pursuant to Section 49-101 of
Title 11 of the Oklahoma Statutes, any member receiving benefits
from the Oklahoma Firefighters Pension and Retirement System as of
June 30, 2025, who continues to receive benefits on or after July 1,
2025, shall receive:
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1. An increase in benefits of eight percent (8%) if the member
has a gross retirement benefit of less than Ninety Thousand Dollars
($90,000.00); and
2. An increase of benefits in an amount necessary for the
member's gross retirement benefit to equal Ninety-seven Thousand Two
Hundred Dollars ($97,200.00) if the member has a gross retirement
benefit of at least Ninety Thousand Dollars ($90,000.00) but less
than Ninety-seven Thousand One Hundred Ninety-nine Dollars and
ninety-nine cents ($97,199.99).
B. Any increase in benefits a person is eligible to receive
pursuant to repealed Section 49-136 of Title 11 of the Oklahoma
Statutes after June 30, 2020, shall be used to offset the increase
in benefits provided in subsection A of this section.
C. Effective July 1, 2025, any person receiving benefits
pursuant to Section 49-101 of Title 11 of the Oklahoma Statutes
shall each receive an increase in benefits of eight percent (8%) to:
1. Eight Dollars and thirteen cents ($8.13) per year of
credited service, not to exceed thirty (30) years of service if the
person's retirement benefit was not adjusted pursuant to the
provisions of Section 49-143.7 of Title 11 of the Oklahoma Statutes;
2. Eight Dollars and twenty-nine cents ($8.29) per year of
credited service, not to exceed thirty (30) years of service if the
person's retirement benefit was adjusted pursuant to Section 49-
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143.7 of Title 11 of the Oklahoma Statutes from a base amount of
Seven Dollars and sixty-eight cents ($7.68); or
3. Eight Dollars and forty-six cents ($8.46) per year of
credited service, not to exceed thirty (30) years of service if the
person's retirement benefit was adjusted pursuant to Section 49-
143.7 of Title 11 of the Oklahoma Statutes from a base amount of
Seven Dollars and eighty-three cents ($7.83).
SECTION 2. NEW LAW A new section of law to be codified
in the Oklahoma Statutes as Section 50-136.10 of Title 11, unless
there is created a duplication in numbering, reads as follows:
A. Except as provided in subsection B of this section, any
member receiving benefits from the Oklahoma Police Pension and
Retirement System as of June 30, 2025, who continues to receive
benefits on or after July 1, 2025, shall receive:
1. An increase in benefits of eight percent (8%) if the member
has a gross retirement benefit of less than Ninety Thousand Dollars
($90,000.00); and
2. An increase of benefits in an amount necessary for the
member's gross retirement benefit to equal Ninety-seven Thousand Two
Hundred Dollars ($97,200.00) if the member has a gross retirement
benefit of at least Ninety Thousand Dollars ($90,000.00) but less
than Ninety-seven Thousand One Hundred Ninety-nine Dollars and
ninety-nine cents ($97,199.99).
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B. Any increase in benefits a person is eligible to receive
pursuant to repealed Section 50-120 of Title 11 of the Oklahoma
Statutes, after June 30, 2020, shall be offset by the increase in
benefits, if any, provided by this section.
SECTION 3. NEW LAW A new section of law to be codified
in the Oklahoma Statutes as Section 1104L of Title 20, unless there
is created a duplication in numbering, reads as follows:
Any member receiving benefits from the Uniform Retirement System
for Justices and Judges as of June 30, 2025, who continues to
receive benefits on or after July 1, 2025, shall receive:
1. An increase in benefits of eight percent (8%) if the member
has a gross retirement benefit of less than Ninety Thousand Dollars
($90,000.00); and
2. An increase of benefits in an amount necessary for the
member's gross retirement benefit to equal Ninety-seven Thousand Two
Hundred Dollars ($97,200.00) if the member has a gross retirement
benefit of at least Ninety Thousand Dollars ($90,000.00) but less
than Ninety-seven Thousand One Hundred Ninety-nine Dollars and
ninety-nine cents ($97,199.99).
SECTION 4. NEW LAW A new section of law to be codified
in the Oklahoma Statutes as Section 2-305.13 of Title 47, unless
there is created a duplication in numbering, reads as follows:
A. Except as provided in subsection B of this section, any
member receiving benefits from the Oklahoma Law Enforcement
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Retirement System as of June 30, 2025, who continues to receive
benefits on or after July 1, 2025, shall receive:
1. An increase in benefits of eight percent (8%) if the member
has a gross retirement benefit of less than Ninety Thousand Dollars
($90,000.00); and
2. An increase of benefits in an amount necessary for the
member's gross retirement benefit to equal Ninety-seven Thousand Two
Hundred Dollars ($97,200.00) if the member has a gross retirement
benefit of at least Ninety Thousand Dollars ($90,000.00) but less
than Ninety-seven Thousand One Hundred Ninety-nine Dollars and
ninety-nine cents ($97,199.99).
B. Any increase in benefits a person is eligible to receive
pursuant to subsection B, C, or D of Section 2-305 of Title 47 of
the Oklahoma Statutes after July 1, 2025, shall be offset by the
increase in benefits, if any, provided by this section.
SECTION 5. NEW LAW A new section of law to be codified
in the Oklahoma Statutes as Section 17-116.23 of Title 70, unless
there is created a duplication in numbering, reads as follows:
A. Any person receiving benefits from the Teachers' Retirement
System of Oklahoma as of June 30, 2025, other than those benefits
specified in subsection B of this section, who continues to receive
benefits on or after July 1, 2025, shall receive:
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1. An increase in benefits of eight percent (8%) if the person
has a gross retirement benefit of less than Ninety Thousand Dollars
($90,000.00) per year; and
2. An increase of benefits in an amount necessary for the
member's gross retirement benefit to equal Ninety-seven Thousand Two
Hundred Dollars ($97,200.00) per year if the person has a gross
retirement benefit of at least Ninety Thousand Dollars ($90,000.00)
but less than Ninety-seven Thousand One Hundred Ninety-nine Dollars
and ninety-nine cents ($97,199.99).
B. Any person receiving benefits pursuant to subsection D of
Section 17-105 of Title 70 of the Oklahoma Statutes whose benefits
commenced prior to July 1, 2020, and who continues to receive
benefits on or after July 1, 2020, shall receive:
1. An increase in benefits of eight percent (8%) if the person
has a gross retirement benefit of less than Ninety Thousand Dollars
($90,000.00) per year; and
2. An increase of benefits in an amount necessary for the
member's gross retirement benefit to equal Ninety-seven Thousand Two
Hundred Dollars ($97,200.00) per year if the person has a gross
retirement benefit of at least Ninety Thousand Dollars ($90,000.00)
but less than Ninety-seven Thousand One Hundred Ninety-nine Dollars
and ninety-nine cents ($97,199.99).
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SECTION 6. NEW LAW A new section of law to be codified
in the Oklahoma Statutes as Section 930.12 of Title 74, unless there
is created a duplication in numbering, reads as follows:
Any member receiving benefits from the Oklahoma Public Employees
Retirement System as of June 30, 2025, who continues to receive
benefits on or after July 1, 2025, shall receive:
1. An increase in benefits of eight percent (8%) if the member
has a gross retirement benefit of less than Ninety Thousand Dollars
($90,000.00); and
2. An increase of benefits in an amount necessary for the
member's gross retirement benefit to equal Ninety-seven Thousand Two
Hundred Dollars ($97,200.00) if the member has a gross retirement
benefit of at least Ninety Thousand Dollars ($90,000.00) but less
than Ninety-seven Thousand One Hundred Ninety-nine Dollars and
ninety-nine cents ($97,199.99).
SECTION 7. This act shall become effective November 1, 2025.
60-1-11069 CMA 01/08/25
THOMAS E. CUMMINS CONSULTING ACTUARY, INC.
2512 E. 71st Street , Suite D ∙ Tulsa, Oklahoma 74136
(918) 492-9658 ∙ (918) 492- 9659
January 7, 2025
Representative Wolfley
Room 346S
Re: RBH No. 11069
RBH No. 11069 provides a benefit increase for the retired members of
each of the State’s retirement systems. The amount of the increase
is 8 % provided if the retired member’s benefit is less than $90,000
per year. If the retired member’s benefit exceeds $90,000 the amount
of increase is what ever is necessary to increase the annual benefit
to $97,200.
RBH No. 11069 is a fiscal bill as defined by OPLAAA.
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