Retirement; Oklahoma Public Employees Retirement System; term; retirement benefit computation; monthly pension; references; employee contributions; effective date; emergency.

HB 1245 amends Oklahoma's public retirement code to update definitions and references related to retirement benefits for state employees. It modifies how "compensation" is calculated for retirement purposes, including historical maximum salary limits (e.g., $80,000 annually for service through 1998), and clarifies terms like "Accumulated contributions" and "CLEET-certified law enforcement agents." The bill directly affects Oklahoma public employees covered under the Oklahoma Public Employees Retirement System by adjusting the legal framework used to compute monthly pension benefits. As a procedural amendment, it updates existing statutory references without creating new benefit structures or changing current retirement rules.