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HB 1335

Public retirement systems; Oklahoma Pension Legislation Actuarial Analysis Act; definition; term; retirement benefit increase; Oklahoma Firefighters Pension and Retirement System; Oklahoma Police Pension and Retirement System; Uniform Retirement System for Justices and Judges; Oklahoma Law Enforcement Retirement System; Teachers' Retirement System of Oklahoma; Oklahoma Public Employees Retirement System; limitation; funded ratio; conditions; offset; amount; codification; effective dates.

2026 Regular Session Introduced by Justin Humphrey

Oklahoma bill requiring actuarial analysis and funded-ratio conditions before public pension benefit increases to protect system solvency and limit taxpayer liability.

Second Reading referred to Rules
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WeVote Research Nonpartisan
Bill Summary · HB 1335

Legislative bill overview

HB 1335 establishes the Oklahoma Pension Legislation Actuarial Analysis Act, which creates requirements for actuarial review before implementing retirement benefit increases across Oklahoma's major public pension systems (firefighters, police, judges, law enforcement, teachers, and public employees). The bill ties benefit increases to funded ratio thresholds and requires offsetting measures to maintain pension system solvency.

Why is this important

Oklahoma's public pension systems face significant unfunded liabilities, and benefit increases without proper actuarial analysis can accelerate funding crises. This bill attempts to balance the desire to improve retiree benefits with fiscal responsibility by requiring data-driven decision-making before changes are enacted, potentially protecting taxpayers from unexpected contribution increases.

Potential points of contention

  • Funded ratio requirements: The specific threshold percentages for triggering benefit increases are not detailed in the title, creating uncertainty about how restrictive the standards will be and whether they practically allow any increases
  • Offset mechanisms: The bill's mention of "offset" and "amount" suggests benefit increases may be paired with concessions (reduced benefits elsewhere, contribution changes, or longer vesting periods), which could create winners and losers among employee groups
  • Actuarial discretion: Requiring actuarial analysis adds process time and cost, potentially delaying benefit corrections that employees view as overdue, and different actuaries may reach different conclusions on the same data

Compiled from official sources — confirm details with the bill’s official record.

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