Uniform Retirement System for Justices and Judges; authorizing benefit increase for certain retired members. Effective dates.

2026 Regular Session Introduced by Trey Caldwell

SB 1148 grants post-retirement increases to URSJ retirees: 0% for under 10 years, 3% for 10–19 years, 6% for 20+ years, starting Nov 1, 2026.

Becomes law without Governor's signature 04/23/2026

Purpose and intent

SB 1148 aims to provide a benefit increase to certain retirees of the Uniform Retirement System for Justices and Judges (URSJ). The bill authorizes targeted, contingent increases to monthly retirement benefits for members who are already receiving benefits as of June 30, 2026 and remain on benefits after the effective date. The increases are structured by length of retirement.

Key provisions

Section 1: New law codified as Section 1104L, Title 20

Eligible recipients: Any person currently receiving URSJ benefits as of June 30, 2026 and continuing to receive benefits thereafter.
Benefit increases:
0% if retired for less than 10 years as of June 30, 2026
3% if retired for at least 10 years but less than 20 years
6% if retired for 20 years or more

Section 2: Technical amendments to Section 3103 (Oklahoma Pension Legislation Actuarial Analysis Act)

Updates and clarifies definitions related to retirement bills, including:
Definition of “Amendment,” “RB number,” and “Legislative Actuary”
Clarifies terms for “Nonfiscal amendment,” “Nonfiscal retirement bill,” and “Retirement bill”
Describes what constitutes a “Retirement bill having a fiscal impact” and related components
Sets criteria for nonfiscal retirement bills and describes how certain changes are to be evaluated actuarially.
Aligns language with the broader pension legislation actuarial analysis framework.

Section 3: Effective date for Section 2 – October 1, 2026

Section 4: Effective date for Section 1 – November 1, 2026

Who would be affected

Retirees of the Uniform Retirement System for Justices and Judges who are currently drawing benefits as of June 30, 2026 and who continue to receive benefits after November 1, 2026.

The bill does not alter eligibility rules for new retirees; it provides post-retirement increases based on years of retirement.

Procedural and timeline notes

The bill includes actuarial analysis framework updates (Section 3103) to guide future retirement legislation.

New benefit increases would take effect on November 1, 2026 (for Section 1), with the actuarial framework changes becoming effective October 1, 2026 (for Section 2).

The bill underwent committee amendments and joint committee reviews, receiving passage in both chambers in April 2026.

Summary of impact

Financial: Increases to ongoing retirement benefits will have a fiscal impact, scaled by years retired. The exact overall cost depends on the size of the URSJ retiree population benefiting under each tier and how many will be in each retirement-duration category.

Policy: Establishes a time-bound, graduated post-retirement increase tied to length of retirement, potentially influencing cost-of-living dynamics within the URSJ.

This summary provides a high-level view of SB 1148’s main changes and their potential effects on URSJ retirees and the actuarial analysis framework governing Oklahoma retirement legislation.

Bill