Retirement; allowing oversight boards of state retirement systems to approve cost-of-living adjustments under certain circumstances.
SB 172 allows oversight boards for Oklahoma's major public employee retirement systems (including firefighters, police, teachers, and state employees) to approve cost-of-living adjustments (COLAs) under specific circumstances. The bill amends statutes governing these systems to transfer authority for COLA decisions from state legislators to the respective boards. Key provisions require boards to follow defined processes when approving adjustments but do not specify the exact circumstances triggering this authority. The change aims to streamline COLA decisions within each system's governance structure while maintaining board oversight. This affects all participants in the covered retirement systems by altering who makes COLA decisions.
Bill status
in committee
1 of 4 stages cleared
Introduction
Feb 2025
Committee Review
Floor Vote
Governor
Introduced Feb 3, 2025
Last action Mar 4, 2025
Maddy AI version diff · 1 comparison
What changed between versions
Introduced
→
Committee Substitute
·
5 edits
MODERATE
The bill was revised from an 'Introduced' version to a 'Committee Substitute' version, which typically means the legislative committee made changes to the original text. The substantive content appears largely unchanged, with the main differences being formatting updates, reorganization of sections, and minor text adjustments. The bill relates to Oklahoma retirement systems and allows pension boards to approve cost-of-living adjustments under certain circumstances.
TECHNICAL
Changed document header from 'AS INTRODUCED' to 'COMMITTEE SUBSTITUTE' indicating committee review and amendments
Updated reference numbers from RBS No. 924 to RBS No. 1631
Reorganized bill structure with additional spacing and formatting adjustments
DEFINITION
Added language about making statutory language gender neutral and updating statutory references
REQUIREMENT
Minor text adjustments in investment committee and custodian provisions, though substantive requirements appear unchanged
Floor votes
How they voted
No floor votes recorded yet.
Full legislative history
Actions timeline
Total actions
6
Key actions
0
Committee
1
Feb 25, 2025
Committee
Referred to Legislative Actuary under 62 O.S., Section 3108
upper
Feb 3, 2025
Introduced
First Reading
upper
2 primary · 0 co-sponsors
Sponsors
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