Oklahoma Police Pension and Retirement System; providing for benefits increase.

SB 12 increases pension benefits by 5% for Oklahoma police retirees receiving payments as of June 30, 2025, who continue to receive benefits after the law takes effect. This applies to most current retirees but excludes those who joined the Oklahoma Police Pension and Retirement System before January 1, 1981. For pre-1981 members, any benefit increase under this bill is offset by one-third of any change to regular police officers' base salaries. The bill codifies these changes in Oklahoma Statutes Title 11, Section 50-136.10.