{"data":{"id":"us-ok/okla.-stat.-tit.-62-62-3103v3","jurisdiction":"us-ok","citation":"Okla. Stat. tit. 62, § 62-3103v3","heading":"Definitions","body":"\n\nAs used in the Oklahoma Pension Legislation Actuarial Analysis\n\nAct:\n\n1. “Amendment” means any amendment, including a substitute\n\nbill, made to a retirement bill by any committee of the House of\n\nRepresentatives or Senate, any conference committee of the House or\n\nSenate or by the House or Senate;\n\n2. “RB number” means that number preceded by the letters “RB”\n\nassigned to a retirement bill by the respective staffs of the\n\nOklahoma State Senate and the Oklahoma House of Representatives when\n\nthe respective staff office prepares a retirement bill for a member\n\nof the Legislature;\n\n3. “Legislative Actuary” means the firm or entity that enters\n\ninto a contract with the Legislative Service Bureau pursuant to\n\nSection 452.15 of Title 74 of the Oklahoma Statutes to provide the\n\nactuarial services and other duties provided for in the Oklahoma\n\nPension Legislation Actuarial Analysis Act;\n\n4. “Nonfiscal amendment” means an amendment to a retirement\n\nbill having a fiscal impact, which amendment does not change any\n\nfactor of an actuarial investigation specified in subsection A of\n\nSection 3109 of this title;\n\n5. “Nonfiscal retirement bill” means a retirement bill:\n\na. which does not affect the cost or funding factors of a\n\nretirement system,\n\nb. which affects such factors only in a manner which does\n\nnot:\n\n(1) grant a benefit increase under the retirement\n\nsystem affected by the bill,\n\n(2) create an actuarial accrued liability for or\n\nincrease the actuarial accrued liability of the\n\nretirement system affected by the bill, or\n\n(3) increase the normal cost of the retirement system\n\naffected by the bill,\n\nc. which authorizes the purchase by an active member of\n\nthe retirement system, at the actuarial cost for the\n\npurchase as computed pursuant to the statute in effect\n\non the effective date of the measure allowing such\n\npurchase, of years of service for purposes of reaching\n\na normal retirement date in the applicable retirement\n\nsystem, but which cannot be used in order to compute\n\nthe number of years of service for purposes of\n\ncomputing the retirement benefit for the member,\n\nd. which provides for the computation of a service-\n\nconnected disability retirement benefit for members of\n\nthe Oklahoma Law Enforcement Retirement System\n\npursuant to Section 2-305 of Title 47 of the Oklahoma\n\nStatutes if the members were unable to complete twenty\n\n(20) years of service as a result of the disability,\n\ne. which requires membership in the defined benefit plan\n\nauthorized by Section 901 et seq. of Title 74 of the\n\nOklahoma Statutes for persons whose first elected or\n\nappointed service occurs on or after November 1, 2018,\n\nif such persons had any prior service in the Oklahoma\n\nPublic Employees Retirement System prior to November\n\n1, 2015,\n\nf. which provides for a one-time increase in retirement\n\nbenefits if the increase in retirement benefits is not\n\na permanent increase in the gross annual retirement\n\nbenefit payable to a member or beneficiary, occurs\n\nonly once pursuant to a single statutory authorization\n\nand does not exceed:\n\n(1) the lesser of two percent (2%) of the gross\n\nannual retirement benefit of the member or One\n\nThousand Dollars ($1,000.00) and requires that\n\nthe benefit may only be provided if the funded\n\nratio of the affected retirement system would not\n\nbe less than sixty percent (60%) but not greater\n\nthan eighty percent (80%) after the benefit\n\nincrease is paid,\n\n(2) the lesser of two percent (2%) of the gross\n\nannual retirement benefit of the member or One\n\nThousand Two Hundred Dollars ($1,200.00) and\n\nrequires that the benefit may only be provided if\n\nthe funded ratio of the affected retirement\n\nsystem would be greater than eighty percent (80%)\n\nbut not greater than one hundred percent (100%)\n\nafter the benefit increase is paid,\nnefit\n\nincrease is paid,\n\n(2) the lesser of two percent (2%) of the gross\n\nannual retirement benefit of the member or One\n\nThousand Two Hundred Dollars ($1,200.00) and\n\nrequires that the benefit may only be provided if\n\nthe funded ratio of the affected retirement\n\nsystem would be greater than eighty percent (80%)\n\nbut not greater than one hundred percent (100%)\n\nafter the benefit increase is paid,\n\n(3) the lesser of two percent (2%) of the gross\n\nannual retirement benefit of the member or One\n\nThousand Four Hundred Dollars ($1,400.00) and\n\nrequires that the benefit may only be provided if\n\nthe funded ratio of the affected retirement\n\nsystem would be greater than one hundred percent\n\n(100%) after the benefit increase is paid, or\n\n(4) the greater of two percent (2%) of the gross\n\nannual retirement benefit of the volunteer\n\nfirefighter or One Hundred Dollars ($100.00) for\n\npersons who retired from the Oklahoma\n\nFirefighters Pension and Retirement System as\n\nvolunteer firefighters and who did not retire\n\nfrom the Oklahoma Firefighters Pension and\n\nRetirement System as a paid firefighter.\n\nAs used in this subparagraph, “funded ratio” means the\n\nfigure derived by dividing the actuarial value of\n\nassets of the applicable retirement system by the\n\nactuarial accrued liability of the applicable\n\nretirement system,\n\ng. which modifies the disability pension standard for\n\npolice officers who are members of the Oklahoma Police\n\nPension and Retirement System as provided by Section\n\n50-115 of Title 11 of the Oklahoma Statutes,\n\nh. which provides a cost-of-living benefit increase\n\npursuant to the provisions of:\n\n(1) Section 49-143.7 of Title 11 of the Oklahoma\n\nStatutes,\n\n(2) Section 50-136.9 of Title 11 of the Oklahoma\n\nStatutes,\n\n(3) Section 1104K of Title 20 of the Oklahoma\n\nStatutes,\n\n(4) Section 2-305.12 of Title 47 of the Oklahoma\n\nStatutes,\n\n(5) Section 17-116.22 of Title 70 of the Oklahoma\n\nStatutes,\n\n(6) Section 930.11 of Title 74 of the Oklahoma\n\nStatutes,\n\ni. which modifies the computation of the line-of-duty\n\ndisability benefit pursuant to the provisions of this\n\nsection and Sections 50-101 and 50-115 of Title 11 of\n\nthe Oklahoma Statutes, or\n\nj. which authorizes membership in the Oklahoma Law\n\nEnforcement Retirement System for active commissioned\n\nor CLEET-certified agents of the Office of the\n\nAttorney General or the Military Department of the\n\nState of Oklahoma pursuant to Sections 3 and 4 of this\n\nact.\n\nA nonfiscal retirement bill shall include any retirement bill that\n\nhas as its sole purpose the appropriation or distribution or\n\nredistribution of monies in some manner to a retirement system for\n\npurposes of reducing the unfunded liability of such system or the\n\nearmarking of a portion of the revenue from a tax to a retirement\n\nsystem or increasing the percentage of the revenue earmarked from a\n\ntax to a retirement system;\n\n6. “Reduction-in-cost amendment” means an amendment to a\n\nretirement bill having a fiscal impact which reduces the cost of the\n\nbill as such cost is determined by the actuarial investigation for\n\nthe bill prepared pursuant to Section 3109 of this title;\n\n7. “Retirement bill” means any bill or joint resolution\n\nintroduced or any bill or joint resolution amended by a member of\n\nthe Legislature which creates or amends any law directly affecting a\n\nretirement system. A retirement bill shall not mean a bill or\n\nresolution that impacts the revenue of any state tax in which a\n\nportion of the revenue generated from such tax is earmarked for the\n\nbenefit of a retirement system;\n\n8. “Retirement bill having a fiscal impact” means any\n\nretirement bill creating or establishing a retirement system and any\n\nother retirement bill other than a nonfiscal retirement bill; and\n\n9. “Retirement system” means the Teachers’ Retirement System of\n\nOklahoma, the Oklahoma Public Employees Retirement System, the\ne generated from such tax is earmarked for the\n\nbenefit of a retirement system;\n\n8. “Retirement bill having a fiscal impact” means any\n\nretirement bill creating or establishing a retirement system and any\n\nother retirement bill other than a nonfiscal retirement bill; and\n\n9. “Retirement system” means the Teachers’ Retirement System of\n\nOklahoma, the Oklahoma Public Employees Retirement System, the\n\nUniform Retirement System for Justices and Judges, the Oklahoma\n\nFirefighters Pension and Retirement System, the Oklahoma Police\n\nPension and Retirement System, the Oklahoma Law Enforcement\n\nRetirement System, or a retirement system established after January\n\n1, 2006.","path":["OK Code","Title 62"],"source_url":"https://www.oklegislature.gov/OK_Statutes/CompleteTitles/os62.pdf","current_through":"2026-08-14","vintage":"open-us-law v2026.08, retrieved 2026-09-14","retrieved_at":"2026-09-14T18:32:36Z","sha256":"7b94b59d7ed1a161d84c696a21b668dbf60e2bd6a0cf23bcd5631939b5d07853","source_id":"us-ok","stale":false,"prev":"us-ok/okla.-stat.-tit.-62-62-3103v2","next":"us-ok/okla.-stat.-tit.-62-62-3104"},"notice":"GroundRules: Original legal text. Not legal advice."}