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

SB 21 increases pension benefits for certain retired Oklahoma police officers. It provides a 4% benefit increase for members retired five or more years as of June 30, 2025, who continue receiving benefits after the law takes effect. However, members who joined the system before January 1, 1981, have their increase reduced by one-third of any change to the base salary of active police officers. This affects only specific retired officers meeting the service and retirement duration criteria, with no changes for those joining prior to 1981. The bill directly modifies pension calculation rules under the Oklahoma Police Pension and Retirement System.