Public retirement systems; Oklahoma Pension Legislation Actuarial Analysis Act; definition; term; retirement benefit increase; Oklahoma Firefighters Pension and Retirement System; Oklahoma Police Pension and Retirement System; Uniform Retirement System for Justices and Judges; Oklahoma Law Enforcement Retirement System; Teachers' Retirement System of Oklahoma; Oklahoma Public Employees Retirement System; limitation; funded ratio; conditions; offset; amount; codification; effective dates.

HB 1335 establishes conditions for retirement benefit increases for retirees and beneficiaries of Oklahoma's public pension systems (including Firefighters, Police, Judges, Law Enforcement, Teachers, and Public Employees). It requires a 4% benefit increase if a system's "funded ratio" (assets vs. liabilities) remains at least 80% after the increase, otherwise a 2% increase applies. The bill takes effect November 1, 2025, and offsets prior benefit increases under repealed provisions. It directly affects retirees in these systems by tying future increases to the financial health of their specific pension fund.