Read the full stored bill text
RBS No. 2400
SENATE FLOOR VERSION - SB1870 SFLR Page 1
(Bold face denotes Committee Amendments)
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
SENATE FLOOR VERSION
February 17, 2026
AS AMENDED
SENATE BILL NO. 1870 By: Murdock
[ Oklahoma Public Employees Retirement System -
agreement - codification - effective dates -
emergency ]
BE IT ENACTED BY THE PEOPLE OF THE STATE OF OKLAHOMA:
SECTION 1. AMENDATORY 62 O.S. 2021, Section 3103, as
last amended by Section 1, Chapter 357, O.S.L. 2024 (62 O.S. Supp.
2025, Section 3103), is amended to read as follows:
Section 3103. As used in the Oklahoma Pension Legislation
Actuarial Analysis Act:
1. “Amendment” means any amendment, including a substitute
bill, made to a retirement bill by any committee of the House or
Senate, any conference committee of the House or Senate, or by the
House or Senate;
2. “RB number” means that number preceded by the letters “RB”
assigned to a retirement bill by the respective staffs of the
Oklahoma State Senate and the Oklahoma House of Representatives when
the respective staff office prepares a retirement bill for a member
of the Legislature;
RBS No. 2400
SENATE FLOOR VERSION - SB1870 SFLR Page 2
(Bold face denotes Committee Amendments)
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
3. “Legislative Actuary” means the firm or entity that enters
into a contract with the Legislative Service Bureau pursuant to
Section 452.15 of Title 74 of the Oklahoma Statutes to provide the
actuarial services and other duties provided for in the Oklahoma
Pension Legislation Actuarial Analysis Act;
4. “Nonfiscal amendment” means an amendment to a retirement
bill having a fiscal impact, which amendment does not change any
factor of an actuarial investigation specified in subsection A of
Section 3109 of this title;
5. “Nonfiscal retirement bill” means a retirement bill:
a. which does not affect the cost or funding factors of a
retirement system,
b. which affects such factors only in a manner which does
not:
(1) grant a benefit increase under the retirement
system affected by the bill,
(2) create an actuarial accrued liability for or
increase the actuarial accrued liability of the
retirement system affected by the bill, or
(3) increase the normal cost of the retirement system
affected by the bill,
c. which authorizes the purchase by an active member of
the retirement system, at the actuarial cost for the
purchase as computed pursuant to the statute in effect
RBS No. 2400
SENATE FLOOR VERSION - SB1870 SFLR Page 3
(Bold face denotes Committee Amendments)
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
on the effective date of the measure allowing such
purchase, of years of service for purposes of reaching
a normal retirement date in the applicable retirement
system, but which cannot be used in order to compute
the number of years of service for purposes of
computing the retirement benefit for the member,
d. which provides for the computation of a service-
connected disability retirement benefit for members of
the Oklahoma Law Enforcement Retirement System
pursuant to Section 2-305 of Title 47 of the Oklahoma
Statutes if the members were unable to complete twenty
(20) years of service as a result of the disability,
e. which requires membership in the defined benefit plan
authorized by Section 901 et seq. of Title 74 of the
Oklahoma Statutes for persons whose first elected or
appointed service occurs on or after November 1, 2018,
if such persons had any prior service in the Oklahoma
Public Employees Retirement System prior to November
1, 2015,
f. which provides for a one-time increase in retirement
benefits if the increase in retirement benefits is not
a permanent increase in the gross annual retirement
benefit payable to a member or beneficiary, occurs
RBS No. 2400
SENATE FLOOR VERSION - SB1870 SFLR Page 4
(Bold face denotes Committee Amendments)
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
only once pursuant to a single statutory
authorization, and does not exceed:
(1) the lesser of two percent (2%) of the gross
annual retirement benefit of the member or One
Thousand Dollars ($1,000.00) and requires that
the benefit may only be provided if the funded
ratio of the affected retirement system would not
be less than sixty percent (60%) but not greater
than eighty percent (80%) after the benefit
increase is paid,
(2) the lesser of two percent (2%) of the gross
annual retirement benefit of the member or One
Thousand Two Hundred Dollars ($1,200.00) and
requires that the benefit may only be provided if
the funded ratio of the affected retirement
system would be greater than eighty percent (80%)
but not greater than one hundred percent (100%)
after the benefit increase is paid,
(3) the lesser of two percent (2%) of the gross
annual retirement benefit of the member or One
Thousand Four Hundred Dollars ($1,400.00) and
requires that the benefit may only be provided if
the funded ratio of the affected retirement
RBS No. 2400
SENATE FLOOR VERSION - SB1870 SFLR Page 5
(Bold face denotes Committee Amendments)
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
system would be greater than one hundred percent
(100%) after the benefit increase is paid, or
(4) the greater of two percent (2%) of the gross
annual retirement benefit of the volunteer
firefighter or One Hundred Dollars ($100.00) for
persons who retired from the Oklahoma
Firefighters Pension and Retirement System as
volunteer firefighters and who did not retire
from the Oklahoma Firefighters Pension and
Retirement System as a paid firefighter.
As used in this subparagraph, “funded ratio” means the
figure derived by dividing the actuarial value of
assets of the applicable retirement system by the
actuarial accrued liability of the applicable
retirement system,
g. which modifies the disability pension standard for
police officers who are members of the Oklahoma Police
Pension and Retirement System as provided by Section
50-115 of Title 11 of the Oklahoma Statutes,
h. which provides a cost-of-living benefit increase
pursuant to the provisions of:
(1) Section 49-143.7 of Title 11 of the Oklahoma
Statutes,
RBS No. 2400
SENATE FLOOR VERSION - SB1870 SFLR Page 6
(Bold face denotes Committee Amendments)
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
(2) Section 50-136.9 of Title 11 of the Oklahoma
Statutes,
(3) Section 1104K of Title 20 of the Oklahoma
Statutes,
(4) Section 2-305.12 of Title 47 of the Oklahoma
Statutes,
(5) Section 17-116.22 of Title 70 of the Oklahoma
Statutes, or
(6) Section 930.11 of Title 74 of the Oklahoma
Statutes,
i. which modifies the computation of the line-of-duty
disability benefit pursuant to Sections 50-101 and 50-
115 of Title 11 of the Oklahoma Statutes,
j. which allows the purchase of military prior service
credit pursuant to the provisions of this act section
and Section 49-138 of Title 11 of the Oklahoma
Statutes,
k. which increases the computation factor used to
calculate the accrued retirement benefit and normal
disability benefit pursuant to Section 50-101 of Title
11 of the Oklahoma Statutes,
l. which increases the municipal contribution, employee
contribution, or both for members of the Oklahoma
Police Pension and Retirement System pursuant to
RBS No. 2400
SENATE FLOOR VERSION - SB1870 SFLR Page 7
(Bold face denotes Committee Amendments)
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
Sections 50-109 and 50-110 of Title 11 of the Oklahoma
Statutes, or
m. which modifies the computation of a retirement annuity
pursuant to Section 50-111.1 of Title 11 of the
Oklahoma Statutes, or
n. which allows a municipality currently participating in
the Oklahoma Public Employees Retirement System to
enter into a trust agreement, as provided for in
Section 2 of this act.
A nonfiscal retirement bill shall include any retirement bill that
has as its sole purpose the appropriation or distribution or
redistribution of monies in some manner to a retirement system for
purposes of reducing the unfunded liability of such system or the
earmarking of a portion of the revenue from a tax to a retirement
system or increasing the percentage of the revenue earmarked from a
tax to a retirement system;
6. “Reduction-in-cost amendment” means an amendment to a
retirement bill having a fiscal impact which reduces the cost of the
bill as such cost is determined by the actuarial investigation for
the bill prepared pursuant to Section 3109 of this title;
7. “Retirement bill” means any bill or joint resolution
introduced or any bill or joint resolution amended by a member of
the Legislature which creates or amends any law directly affecting a
retirement system. A retirement bill shall not mean a bill or
RBS No. 2400
SENATE FLOOR VERSION - SB1870 SFLR Page 8
(Bold face denotes Committee Amendments)
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
resolution that impacts the revenue of any state tax in which a
portion of the revenue generated from such tax is earmarked for the
benefit of a retirement system;
8. “Retirement bill having a fiscal impact” means any
retirement bill creating or establishing a retirement system and any
other retirement bill other than a nonfiscal retirement bill; and
9. “Retirement system” means the Teachers’ Retirement System of
Oklahoma, the Oklahoma Public Employees Retirement System, the
Uniform Retirement System for Justices and Judges, the Oklahoma
Firefighters Pension and Retirement System, the Oklahoma Police
Pension and Retirement System, the Oklahoma Law Enforcement
Retirement System, or a retirement system established after January
1, 2006.
SECTION 2. NEW LAW A new section of law to be codified
in the Oklahoma Statutes as Section 910.6 of Title 74, unless there
is created a duplication in numbering, reads as follows:
On or before December 31, 2026, participating employers of the
Oklahoma Public Employees Retirement System that are municipalities
with a population of two thousand (2,000) people or fewer, according
to the latest Federal Decennial Census, or instrumentalities of such
municipalities, may choose to enter into a trust agreement, as
provided for in the Interlocal Cooperation Act, to provide
retirement benefits for employees, as defined in Section 902 of
RBS No. 2400
SENATE FLOOR VERSION - SB1870 SFLR Page 9
(Bold face denotes Committee Amendments)
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
Title 74 of the Oklahoma Statutes, who commence employment on or
after the effective date of such trust agreement.
SECTION 3. Section 1 of this act shall become effective June 1,
2026.
SECTION 4. Section 2 of this act shall become effective July 1,
2026.
SECTION 5. It being immediately necessary for the preservation
of the public peace, health or safety, an emergency is hereby
declared to exist, by reason whereof this act shall take effect and
be in full force from and after its passage and approval.
COMMITTEE REPORT BY: COMMITTEE ON RETIREMENT AND GOVERNMENT
RESOURCES
February 17, 2026 - DO PASS AS AMENDED