{"data":{"id":"us-ok/okla.-stat.-tit.-62-62-3109","jurisdiction":"us-ok","citation":"Okla. Stat. tit. 62, § 62-3109","heading":"Actuarial investigation - Submission to requesting","body":"committee chair - Summary.\n\nA. If an actuarial investigation of a retirement bill having a\n\nfiscal impact is requested under Section 3108 of this title, it\n\nshall be the duty of the Legislative Actuary to complete or cause to\n\nbe completed such actuarial investigation by not later than December\n\n1 of the same year during which the request for the actuarial\n\ninvestigation was made. The actuarial investigation shall include,\n\nbut shall not be limited to, findings on the following factors as\n\nsuch factors are relevant to the retirement bill under\n\nconsideration:\n\n1. The dollar amount of the unfunded actuarial accrued\n\nliability which will result from the bill for the retirement system\n\naffected by the bill;\n\n2. The dollar amount of the annual normal cost which will\n\nresult from the bill for the retirement system affected by the bill;\n\n3. A statement of the employer contribution rate currently in\n\neffect for the retirement system affected by the bill;\n\n4. A statement of the employer contribution rate necessary for\n\nthe retirement system to receive the required annual employer\n\ncontributions consistent with the most recently available valuation\n\nreport prepared by the actuary employed by the retirement system\n\naffected by the bill;\n\n5. A statement of the dollar amount of the increase in the\n\nannual employer contribution, if an existing retirement system is\n\naffected by the bill, or a statement of the total annual employer\n\ncontribution, if a new retirement system is established by the bill,\n\nwhich will be necessary to maintain the retirement system affected\n\nor established by the bill in an actuarially sound condition thereby\n\ncreating no increase in unfunded liability as defined by the most\n\nrecent actuarial evaluation of an existing system; and\n\n6. A statement of the effect on the funded ratio for the\n\nretirement system affected by the bill.\n\nB. By not later than December 1 of the same year that the\n\nrequest for an actuarial investigation was made, the completed\n\nactuarial investigation shall be submitted by the Legislative\n\nActuary to the chair of the committee who requested it along with a\n\nsummary of the actuarial investigation which shall include the\n\nrelevant findings specified in subsection A of this section.\n\nC. The chair of the committee, upon receipt of the information\n\nprovided for under subsection B of this section, shall cause the\n\nsummary of the actuarial investigation to be attached to all copies\n\nof the version of the bill submitted to the Legislative Actuary and\n\nmade available to committee members, other legislators and any other\n\ninterested parties. The original summary of the actuarial\n\ninvestigation shall be attached to the original version of the\n\nsubstitute bill, as amended by the committee under Section 3108 of\n\nthis title, if applicable, or to the original version of the bill as\n\nintroduced if the bill was not changed by the committee prior to its\n\nsubmission to the Legislative Actuary for an actuarial\n\ninvestigation.","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":"f8023c5e95e58ff959f59f4447ee6d14291c2419673eb78d51a2336cada916f7","source_id":"us-ok","stale":false,"prev":"us-ok/okla.-stat.-tit.-62-62-3108","next":"us-ok/okla.-stat.-tit.-62-62-3110"},"notice":"GroundRules: Original legal text. Not legal advice."}