Oklahoma Firefighters Pension and Retirement System; increasing monthly benefit for volunteer firefighters; modifying compensation determination.

SB 432 increases monthly pension benefits for Oklahoma volunteer firefighters who retired before the bill's effective date. It modifies how compensation is calculated by setting a threshold: volunteer firefighters earning over $9,939.69 annually in service pay (not expense reimbursements) will be classified as "paid firefighters," requiring them to meet physical standards to remain active members. The bill ensures retired volunteer firefighters receive at least the benefit level they had on June 30, 1985, and adjusts benefit amounts based on credited service years at retirement. This directly affects current and future retired volunteer firefighters, active volunteers exceeding the pay threshold, and municipal fire departments administering the pension system.