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

SB 12 would increase pension benefits by 5% for Oklahoma police officers currently receiving benefits as of June 30, 2025, who continue to receive them after the bill's effective date. This applies to most retirees, but excludes those who joined the system before January 1, 1981. For pre-1981 members, any benefit increase under this bill would be reduced by one-third of any change to the base salary of regular police officers. The bill aims to adjust pension payments based on current police salary trends while maintaining existing benefit structures. The proposal is currently under review by the Retirement and Government Resources Committee.