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HB4225 • 2026
Retirement Freedom Act; investment options; participants; independent control; individual accounts; effective date.
Retirement Freedom Act; investment options; participants; independent control; individual accounts; effective date.
Active
The official status still shows this bill as active or still awaiting another formal step.
- Sponsor
- Kannady
- Last action
- 2026-02-16
- Official status
- Referred to Rules
- Effective date
- Not listed
Plain English Breakdown
Using official source text because the generated explanation was unavailable or could not be confirmed against the official bill text.
Retirement Freedom Act; investment options; participants; independent control; individual accounts; effective date.
Retirement Freedom Act; investment options; participants; independent control; individual accounts; effective date.
What This Bill Does
- Retirement Freedom Act; investment options; participants; independent control; individual accounts; effective date.
- Bill Summaries/Fiscal Impact for HB 4225 (House): Introduced (2/9/2026)
Bill Summaries/Fiscal Impact for HB 4225 (House): Proposed Policy Committee Amendment 1 (2/17/2026)
Limits and Unknowns
- This entry is temporarily using official source text because the generated explanation could not be confirmed against the official bill text during the last sync.
Amendments
These notes stay tied to the official amendment files and metadata from the legislature.
Plain English: HB4225 POLAMD1 Chris Kannady-CMA
2/6/2026 4:20:23 pm
AMEND TITLE TO CONFORM TO AMENDMENTS
Amendment submitted by: Chris Kannady
Adopted: _____________________________
______________________________________
Reading Clerk
COMMITTEE AMENDMENT
HOUSE OF REPRESENTATIVES
State of Oklahoma
SPEAKER:
CHAIR:
I move to amend HB4225
Of the printed Bill
Page 2 Section Lines 20 1/2
Of the Engrossed Bill
"SECTION 2.
- HB4225 POLAMD1 Chris Kannady-CMA
2/6/2026 4:20:23 pm
AMEND TITLE TO CONFORM TO AMENDMENTS
Amendment submitted by: Chris Kannady
Adopted: _____________________________
______________________________________
Reading Clerk
COMMITTEE AMENDMENT
HOUSE OF REPRESENTATIVES
State of Oklahoma
SPEAKER:
CHAIR:
I move to amend HB4225
Of the printed Bill
Page 2 Section Lines 20 1/2
Of the Engrossed Bill
"SECTION 2.
- NEW LAW A new section of law to be codified in the
Oklahoma Statutes as Section 935.12 of Title 74, unless there is created a
duplication in numbering, reads as follows:
A.
- A plan participant may borrow from the participant's account
balance the lessor of:
1.
- Fifty percent (50%) of the participant's vested account balance;
or
2.
Bill History
-
2026-02-16
House
Withdrawn from Banking, Financial Services and Pensions Committee
-
2026-02-16
House
Withdrawn from Government Oversight Committee
-
2026-02-16
House
Referred to Rules
-
2026-02-03
House
Second Reading referred to Government Oversight
-
2026-02-03
House
Referred to Banking, Financial Services and Pensions
-
2026-02-02
House
First Reading
-
2026-02-02
House
Authored by Representative Kannady
Official Summary Text
Retirement Freedom Act; investment options; participants; independent control; individual accounts; effective date.
Bill Summaries/Fiscal Impact for HB 4225 (House): Introduced (2/9/2026)
Bill Summaries/Fiscal Impact for HB 4225 (House): Proposed Policy Committee Amendment 1 (2/17/2026)
Current Bill Text
Read the full stored bill text
Req. No. 13939 Page 1
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STATE OF OKLAHOMA
2nd Session of the 60th Legislature (2026)
HOUSE BILL 4225 By: Kannady
AS INTRODUCED
An Act relating to the Retirement Freedom Act;
amending 74 O.S. 2021, Section 935.9, which relates
to investment options; authorizing participants to
exercise independent control over the investment of
their individual accounts; and providing an effective
date.
BE IT ENACTED BY THE PEOPLE OF THE STATE OF OKLAHOMA:
SECTION 1. AMENDATORY 74 O.S. 2021, Section 935.9, is
amended to read as follows:
Section 935.9. A. The Board of Trustees shall contract with
one or more business entities in order to create a range of choices
regarding investment of funds deposited into defined contribution
system accounts. The investment options shall be substantially
similar to the options provided to members of the Oklahoma Public
Employees Retirement System that maintain a Deferred Savings
Incentive Plan account as offered by the System pursuant to the
provisions of the Deferred Savings Incentive Plan. In selecting
Req. No. 13939 Page 2
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investment options for participants in the plan, the Board shall
give due consideration to offering investment options provided by
business entities that provide guaranteed lifetime income in
retirement such as annuities, guaranteed investment contracts, or
similar products. The Board may amend any of its existing contracts
with its current service providers to perform substantially the same
type of service the provider is currently performing for the Board,
in order to facilitate the timely introduction of the new defined
contribution system created by this act. Thereafter, the
contracting process for the selection of service providers carrying
out duties related to the administration of the plan shall be the
same as the selection process for other providers selected by the
Board under subsection D of Section 909.1 of Title 74 of the
Oklahoma Statutes.
B. In addition to the range of choices provided to participants
pursuant to subsection A of this section, participants shall also
have the option to exercise independent control over the investment
of their individual accounts, including, but not limited to,
investing in other assets outside of the plan in determining their
investments under the plan.
SECTION 2. This act shall become effective November 1, 2026.
60-2-13939 CMA 12/15/25