Title: STATE OF OKLAHOMA
Author: Craig Thompson
Last saved by: Shriley Harrison
Company: Senate

RBS No. 3121

ENGROSSED SENATE
BILL NO. 1637 	By:	Aldridge of the Senate

			and

		Billy and Hilliard of the House

An Act relating to public retirement systems; authorizing retirement benefit increases for certain members of the Oklahoma Firefighters Pension and Retirement System, the Oklahoma Police Pension and Retirement System, the Uniform Retirement System for Justices and Judges, the Oklahoma Law Enforcement Retirement System, the Teachers’ Retirement System of Oklahoma and the Oklahoma Public Employees Retirement System; specifying amount of benefit increase; authorizing annual benefit increase for certain members of the Oklahoma Firefighters Pension and Retirement System, the Oklahoma Police Pension and Retirement System, the Uniform Retirement System for Justices and Judges, the Oklahoma Law Enforcement Retirement System, the Teachers’ Retirement System of Oklahoma and the Oklahoma Public Employees Retirement System; allowing the Legislature to suspend the increase in benefits if certain conditions exist; providing for codification; providing an effective date; and declaring an emergency.

BE IT ENACTED BY THE PEOPLE OF THE STATE OF OKLAHOMA:
SECTION 1.     NEW LAW     A new section of law to be codified in the Oklahoma Statutes as Section 49-143.7 of Title 11, unless there is created a duplication in numbering, reads as follows:
A.  Except as provided in subsection B of this section and except for persons receiving benefits pursuant to Section 49-101 of Title 11 of the Oklahoma Statutes, effective July 1, 2010, any person who is receiving benefits from the Oklahoma Firefighters Pension and Retirement System as of June 30, 2009, who continues to receive benefits on or after July 1, 2010, shall receive a four-percent increase in said benefits beginning in July 2010.
B.  Any increase in benefits a person is eligible to receive pursuant to repealed Section 49-136 of Title 11 of the Oklahoma Statutes after June 30, 2008, shall be used to offset the increase in benefits provided in subsection A of this section.
C.  Effective July 1, 2010, any persons receiving benefits pursuant to Section 49-101 of Title 11 of the Oklahoma Statutes shall each receive a benefit equal to Seven Dollars and ninety-nine cents ($7.99) for each year of credited service not to exceed thirty (30) years of service.
SECTION 2.     NEW LAW     A new section of law to be codified in the Oklahoma Statutes as Section 49-143.8 of Title 11, unless there is created a duplication in numbering, reads as follows:
A.  Except as provided in subsection B of this section and except for persons receiving benefits pursuant to Section 49-101 of Title 11 of the Oklahoma Statutes, beginning July 1, 2011, and for each fiscal year thereafter subject to the Legislature’s right to suspend this section at any time pursuant to subsection D of this section, any person who is receiving benefits from the Oklahoma Firefighters Pension and Retirement System as of June 30 of the previous year shall receive a two-percent increase in said benefits.  No active or retired member of the Oklahoma Firefighters Pension and Retirement System shall have a vested right to the potential increase in benefits or any other potential cost-of-living increase pursuant to this section.
B.  Any increase in benefits provided for in subsection A of this section that an eligible person receives shall be offset, if applicable, by any increase in the previous twelve (12) months, July 1 of the previous year through June 30 of the current year, that an eligible person received pursuant to repealed Section 49-136 of Title 11 of the Oklahoma Statutes.
C.  Beginning July 1, 2011, and for each fiscal year thereafter subject to the Legislature’s right to suspend this section at any time pursuant to subsection D of this section, any persons receiving benefits pursuant to Section 49-101 of Title 11 of the Oklahoma Statutes shall each receive a benefit equal to Eight Dollars and fifteen cents ($8.15) for each year of credited service not to exceed thirty (30) years of service.  Beginning July 1, 2012, and for each fiscal year thereafter, the amount of the benefit provided for in this subsection shall be increased two percent (2%).
D.  Beginning January 1, 2012, and for each year thereafter, the Legislature may suspend the increase in benefits for the upcoming fiscal year beginning in July of such year pursuant to a joint resolution if the Legislature deems the economic conditions of the System warrant a suspension for such fiscal year.
SECTION 3.     NEW LAW     A new section of law to be codified in the Oklahoma Statutes as Section 50-136.9 of Title 11, unless there is created a duplication in numbering, reads as follows:
A.  Except as provided in subsection B of this section, any person who is receiving benefits from the Oklahoma Police Pension and Retirement System as of June 30, 2009, who continues to receive benefits on or after July 1, 2010, shall receive a four-percent increase in said benefits beginning in July 2010.
B.  Any increase in benefits a person is eligible to receive pursuant to repealed Section 50-120 of Title 11 of the Oklahoma Statutes after June 30, 2008, shall be offset by the increase in benefits, if any, provided by this section.
SECTION 4.     NEW LAW     A new section of law to be codified in the Oklahoma Statutes as Section 50-136.10 of Title 11, unless there is created a duplication in numbering, reads as follows:
A.  Except as provided in subsection B of this section, beginning July 1, 2011, and for each fiscal year thereafter subject to the Legislature’s right to suspend this section at any time pursuant to subsection C of this section, any person who is receiving benefits from the Oklahoma Police Pension and Retirement System as of June 30 of the previous year shall receive a two-percent increase in said benefits.  No active or retired member of the Oklahoma Police Pension and Retirement System shall have a vested right to the potential increase in benefits or any other potential cost-of-living increase pursuant to this section.
B.  Any increase in benefits provided for in subsection C of this section that an eligible person receives shall be offset, if applicable, by any increase in the previous twelve (12) months, July 1 of the previous year through June 30 of the current year, that an eligible person received pursuant to repealed Section 50-120 of Title 11 of the Oklahoma Statutes.
C.  Beginning January 1, 2012, and for each year thereafter, the Legislature may suspend the increase in benefits for the upcoming fiscal year beginning in July of such year pursuant to a joint resolution if the Legislature deems the economic conditions of the System warrant a suspension for such fiscal year.
SECTION 5.     NEW LAW     A new section of law to be codified in the Oklahoma Statutes as Section 1104K of Title 20, unless there is created a duplication in numbering, reads as follows:
Any person who is receiving benefits from the Uniform Retirement System for Justices and Judges as of June 30, 2009, who continues to receive benefits on or after July 1, 2010, shall receive a four-percent increase in said benefits beginning in July 2010.
SECTION 6.     NEW LAW     A new section of law to be codified in the Oklahoma Statutes as Section 1104L of Title 20, unless there is created a duplication in numbering, reads as follows:
A.  Beginning July 1, 2011, and for each fiscal year thereafter subject to the Legislature’s right to suspend this section at any time pursuant to subsection B of this section, any person who is receiving benefits from the Uniform Retirement System for Justices and Judges as of June 30 of the previous year shall receive a two-percent increase in said benefits.  No active or retired member of the Uniform Retirement System for Justices and Judges shall have a vested right to the potential increase in benefits or another potential cost-of-living increase pursuant to this section.
B.  Beginning January 1, 2012, and for each year thereafter, the Legislature may suspend the increase in benefits for the upcoming fiscal year beginning in July of such year pursuant to a joint resolution if the Legislature deems the economic conditions of the System warrant a suspension for such fiscal year.
SECTION 7.     NEW LAW     A new section of law to be codified in the Oklahoma Statutes as Section 2-305.12 of Title 47, unless there is created a duplication in numbering, reads as follows:
A.  Except as provided in subsection B of this section, any person who is receiving benefits from the Oklahoma Law Enforcement Retirement System as of June 30, 2009, who continues to receive benefits on or after July 1, 2010, shall receive a four-percent increase in said benefits beginning in July 2010.
B.  Any increase in benefits a person is eligible to receive pursuant to subsection B, C or D of Section 2-305 of Title 47 of the Oklahoma Statutes, after June 30, 2010, shall be offset by the increase in benefits, if any, provided by this section.
SECTION 8.     NEW LAW     A new section of law to be codified in the Oklahoma Statutes as Section 2-305.13 of Title 47, unless there is created a duplication in numbering, reads as follows:
A.  Except as provided in subsection B of this section, beginning July 1, 2011, and for each fiscal year thereafter subject to the Legislature’s right to suspend this section at any time pursuant to subsection C of this section, any person who is receiving benefits from the Oklahoma Law Enforcement Retirement System as of June 30 of the previous year shall receive a two-percent increase in said benefits.  No active or retired member of the Oklahoma Law Enforcement Retirement System shall have a vested right to the potential increase in benefits or any other potential cost-of-living increase pursuant to this section.
B.  Any increase in benefits provided for in subsection A of this section that an eligible person receives shall be offset, if applicable, by any increase in the previous twelve (12) months, July 1 of the previous year through June 30 of the current year, that an eligible person received pursuant to subsection B, C or D of Section 2-305 of Title 47 of the Oklahoma Statutes.
C.  Beginning, January 1, 2012, and for each year thereafter, the Legislature may suspend the increase in benefits for the upcoming fiscal year beginning in July of such year pursuant to a joint resolution if the Legislature deems the economic conditions of the System warrant a suspension for such fiscal year.
SECTION 9.     NEW LAW     A new section of law to be codified in the Oklahoma Statutes as Section 17-116.22 of Title 70, unless there is created a duplication in numbering, reads as follows:
A.  Any person who is receiving benefits from the Teachers’ Retirement System of Oklahoma as of June 30, 2009, other than those benefits specified in subsection B of this section, who continues to receive benefits on or after July 1, 2010, shall receive a two-percent increase in said benefits beginning in July 2010.
B.  Any person receiving benefits pursuant to subsection (3) of Section 17-105 of Title 70 of the Oklahoma Statutes whose benefits commenced prior to July 1, 2009, and who continues to receive benefits on or after July 1, 2010, shall receive a two-percent increase in said benefits beginning in July 2010.
SECTION 10.     NEW LAW     A new section of law to be codified in the Oklahoma Statutes as Section 17-116.23 of Title 70, unless there is created a duplication in numbering, reads as follows:
A.  Beginning July 1, 2011, and for each fiscal year thereafter subject to the Legislature’s right to suspend this section at any time pursuant to subsection B of this section, any person who is receiving benefits from the Teachers’ Retirement System of Oklahoma as of June 30 of the previous year shall receive a one-percent increase in said benefits.  No active or retired member of the Teachers’ Retirement System of Oklahoma shall have a vested right to the potential increase in benefits or any other potential cost-of-living increase pursuant to this section.
B.  Beginning January 1, 2012, and for each year thereafter, the Legislature may suspend the increase in benefits for the upcoming fiscal year beginning in July of such year pursuant to a joint resolution if the Legislature deems the economic conditions of the System warrant a suspension for such fiscal year.
SECTION 11.     NEW LAW     A new section of law to be codified in the Oklahoma Statutes as Section 930.11 of Title 74, unless there is created a duplication in numbering, reads as follows:
Any person who is receiving benefits from the Oklahoma Public Employees Retirement System as of June 30, 2009, who continues to receive benefits on or after July 1, 2010, shall receive a four-percent increase in said benefits beginning in July 2010.  
SECTION 12.     NEW LAW     A new section of law to be codified in the Oklahoma Statutes as Section 930.12 of Title 74, unless there is created a duplication in numbering, reads as follows:
A.  Beginning July 1, 2011, and for each fiscal year thereafter subject to the Legislature’s right to suspend this section at any time pursuant to subsection B of this section, any person who is receiving benefits from the Oklahoma Public Employees Retirement System as of June 30 of the previous year shall receive a two-percent increase in said benefits.  No active or retired member of the Oklahoma Public Employees Retirement System shall have a vested right to the potential increase in benefits or any other potential cost-of-living increase pursuant to this section.
B.  Beginning January 1, 2012, and for each year thereafter, the Legislature may suspend the increase in benefits for the upcoming fiscal year beginning in July of such year pursuant to a joint resolution if the Legislature deems the economic conditions of the System warrant a suspension for such fiscal year.
SECTION 13.  This act shall become effective July 1, 2010.
SECTION 14.  It being immediately necessary for the preservation of the public peace, health and safety, an emergency is hereby declared to exist, by reason whereof this act shall take effect and be in full force from and after its passage and approval.
Passed the Senate the 24th day of February, 2010.

	
Presiding Officer 	of the Senate

Passed the House of Representatives the ____ day of __________, 2010.

	
Presiding Officer	of the House
	of Representatives

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