Public retirement systems; Oklahoma Pension Legislation Actuarial Analysis Act; Firefighters Pension and Retirement Board and Police Pension and Retirement Board; benefit adjustment; effective dates; contingent effective dates; emergency.

The document header was updated to remove the 'Proposed Policy' designation and change the bill reference number from 16328 to 17083.

Line numbers and page footers were adjusted to align with the new committee substitute version.

The effective date for benefit adjustments was changed from July 1, 2025, to a later date associated with the 2nd Session of the 60th Legislature in 2026.

Definitions for 'Tweener' and 'Initial COLA Benefit Date' were updated to reflect the new 2026 timeline and adjusted specific dates (e.g., May 27, 1983, changed to May 26, 1983 in some contexts).

The bill structure was altered from creating new law to amending existing law (62 O.S. 2021, Section 3103), changing the legal mechanism for implementing the benefit adjustments.

Criteria for eligible members were refined, including adjustments to the years of credited service required and specific retirement date cutoffs for different groups.

The definition of 'Tweener' was changed for the Firefighters system to include members who retired before November 1, 1989, and for the Police system to include members who retired before June 30, 1990, rather than the previous broader criteria.

The definition of 'Tweener' for the Police system was updated to reference Section 50-111.3 of the statutes instead of the previous repealed section.

The 'Initial COLA Benefit Date' for the Firefighters system was updated from May 27, 1983, to May 26, 1983, and for the Police system from May 26, 1983, to May 25, 1983.

The bill text was entirely replaced with a new version that uses consistent language for calculating COLA benefits across different retirement boards.

Added detailed definitions for 'Amendment', 'RB number', 'Legislative Actuary', 'Nonfiscal amendment', and 'Nonfiscal retirement bill' to standardize terminology.

Introduced specific conditions for 'Nonfiscal retirement bills', such as prohibiting permanent benefit increases or creating new actuarial liabilities.

Defined a tiered system for one-time benefit increases, where the maximum dollar amount allowed depends on the retirement system's funded ratio (e.g., $1,000 for systems between 60-80% funded, $1,400 for systems over 100% funded).

Removed the specific effective date of November 1, 2025, and the original title of the bill as the 'Retirement Reform Act of 2025'.

Changed the bill type from 'New Law' to 'Amendatory' to indicate it modifies existing statutes rather than creating entirely new ones.