HB 1268: Retirement; Public Employees Deferred Option Plan; participation; service credit; contributions; distributions; procedures; effective dates. - Oklahoma

House Committee Substitute → Floor (House) · 3 edits

MINOR

The bill text was reformatted from a 'Committee Substitute' draft to the official 'Floor Version' for the House of Representatives. While the substantive legal definitions regarding retirement systems and funding rules remain identical, the document now includes specific page headers and footers required for the final legislative record.

Scope change

The scope of the bill's applicability has not changed; only the document's presentation and metadata have been updated to reflect its status as the official floor version.

TECHNICAL

Updated the document title and header information to change the version from 'Committee Substitute' to 'House of Representatives - Floor Version'.

Replaced the page footer text to reflect the new 'HB1268 HFLR' identifier and added a note explaining that bold face text denotes committee amendments.

Adjusted line numbers and spacing throughout the document to align with the new formatting standards for the floor version.

Proposed Policy Committee Substitute 3 → House Committee Substitute · 4 edits

MODERATE

The bill was completely rewritten to replace the 'Proposed Policy Committee Substitute' with a 'House Committee Substitute', updating the legislative version number and authorship details. The substantive policy content regarding retirement definitions and actuarial analysis remains consistent, though the formatting and line numbering were adjusted to reflect the new committee version.

Scope change

The bill's scope and applicability remain unchanged; this is a procedural update reflecting the bill's progression from the policy committee to the house committee.

TECHNICAL

The document title was changed from 'Proposed Policy Committee Substitute' to 'Committee Substitute' to reflect the bill's current legislative status.

The authorship line was updated to include 'Weaver of the Senate' alongside 'Hays of the House', correcting the sponsor attribution for the new version.

The bill reference number was updated from RBH No. 16376 to RBH No. 16678 to match the new committee substitute filing.

Page numbering and line references were adjusted throughout the document to align with the new formatting structure.

Proposed Policy Committee Substitute 2 → Proposed Policy Committee Substitute 3 · 3 edits

MINOR

This bill revision updates the legislative session from the 2025 1st Session to the 2026 2nd Session and changes the bill's classification from a new law to an amendment of existing pension statutes. The most significant substantive change is an increase in the maximum one-time retirement benefit increase allowed under specific conditions, raising the cap from $1,000 to $1,200.

Scope change

The bill's temporal scope shifted to the 2026 legislative session, and its legal nature changed from creating new law to amending existing sections of the Oklahoma Statutes.

TIMELINE

The legislative session changed from the 2025 1st Session to the 2026 2nd Session, reflecting a one-year delay in the bill's effective context.

REQUIREMENT

The bill was reclassified from a 'New Law' creating Section 914.1 to an 'Amendatory' bill modifying Section 3103 of the Oklahoma Pension Legislation Actuarial Analysis Act.

The maximum dollar amount for a one-time increase in retirement benefits was increased from $1,000 to $1,200, provided the funded ratio of the retirement system remains between 60% and 80%.

Proposed Policy Committee Substitute 1 → Proposed Policy Committee Substitute 2 · 3 edits

MINOR

The bill was renumbered from Substitute 1 to Substitute 2 and updated with new tracking numbers. The substantive text of the bill remains identical, preserving the rules for emergency medical personnel and others to defer retirement benefits into a separate plan.

Scope change

No change in the scope or applicability of the bill.

TECHNICAL

The bill header was updated from 'Proposed Policy Committee Substitute 1' to 'Proposed Policy Committee Substitute 2' with a new date and tracking number.

The reading clerk's reference number was changed from RBH No. 12280 to RBH No. 12407.

Minor formatting adjustments were made to the title page and section headers, including renumbering of lines and paragraphs.

Engrossed → Proposed Policy Committee Substitute 1 · 5 edits

MODERATE

The bill was completely rewritten to replace the original text, which defined general legislative terms, with new substantive law creating the 'Oklahoma Public Employees Deferred Option Plan.' This change shifts the bill from a procedural definition document to an active retirement program that allows specific licensed emergency medical personnel and deputy sheriffs to defer their retirement benefits while continuing to work.

Scope change

The bill's scope expanded from defining legislative procedures to establishing a new deferral program for specific public safety and medical professionals.

ELIGIBILITY

Created a new eligibility group for licensed emergency medical personnel (EMTs, paramedics, etc.) and deputy sheriffs/county jailers with at least 20 years of creditable service.

REQUIREMENT

Established a new 'Deferred Option Plan' allowing eligible members to defer receiving retirement benefits while continuing employment.

Set a maximum participation duration of five years for the deferral plan.

Defined how the member's accrued monthly retirement benefit is calculated and paid out after the deferral period ends.

FISCAL

Specified that employer contributions must continue to be paid into the member's account while they are participating in the deferral plan.

Introduced → Engrossed · 4 edits · Mar 24, 2026

MODERATE

The bill was renumbered and its title was updated to reflect its focus on actuarial analysis and pension plan specifications rather than a broad 'Retirement Reform Act.' The most significant change is the replacement of a brief, generic description of the bill with a comprehensive, multi-page list of specific definitions and criteria. These new definitions clarify exactly what constitutes a 'nonfiscal amendment' and a 'nonfiscal retirement bill,' providing precise rules on benefit increases, funding liabilities, and service purchases to ensure fiscal stability.

Scope change

The bill's scope shifted from a general reform framework to a detailed technical specification defining specific types of pension legislation and their fiscal impacts.

DEFINITION

Replaced a single-sentence title with a detailed list of definitions for terms like 'Amendment,' 'RB number,' and 'Legislative Actuary.'

REQUIREMENT

Added a complex definition for 'Nonfiscal amendment' that specifies which factors of an actuarial investigation cannot be changed without altering the bill's fiscal status.

Added a detailed definition for 'Nonfiscal retirement bill' listing specific scenarios (e.g., one-time benefit increases, service purchases) that are considered nonfiscal, including strict limits on benefit amounts based on the system's funded ratio.

TECHNICAL

Updated the bill number from RBH No. 11354 to RBH No. 16678 and changed the session header from 'Introduced' to 'Engrossed House.'

Retirement; Public Employees Deferred Option Plan; participation; service credit; contributions; distributions; procedures; effective dates.

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