Retirement benefits payment; conforming language; spousal consent not required for certain elections; contributions. Effective date.

SB 448 modifies Oklahoma's retirement rules for justices, judges, and public employees by removing the requirement for a spouse's written consent when a member chooses a specific retirement payout option. Under the new provisions, married members can select a "joint and survivor" plan that pays a reduced benefit to the retiree and a full benefit to their spouse after the retiree's death without needing spousal approval, whereas other options still require that consent. The bill also clarifies that if a deceased member dies before retiring, their surviving spouse may elect to receive benefits under this new option instead of just getting the member's accumulated contributions. These changes apply to members who join the relevant retirement systems on or after September 1, 2005, and to those with vested benefits who have not yet received payments.