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

SB 21 would increase retirement benefits by 4% for Oklahoma police retirees who were already receiving benefits as of June 30, 2025, have been retired for at least five years, and continue to receive benefits after the law takes effect. This applies specifically to members of the Oklahoma Police Pension and Retirement System. However, retirees who joined the system before January 1, 1981, would have their benefit increase offset by one-third of any change to regular police officers' base salaries. The bill modifies existing pension rules to implement this targeted benefit adjustment.