Oklahoma Public Employees Retirement System; modifying retirement date and compensation amount for certain members.

SB 182 amends Oklahoma's retirement system to allow current Oklahoma Tax Commission members with constitutionally capped salaries to elect, within 90 days, to use the highest salary allowed for their position when calculating retirement contributions and benefits. This change specifically affects state employees in the Tax Commission whose current pay is below the legal maximum for their role. The bill updates compensation rules by permitting these members to base retirement benefits on the higher salary amount instead of their actual lower salary. It does not change retirement ages or apply to most other public employees.