Budget & Taxes

SB 174 increases retirement benefits for Oklahoma teachers currently receiving payments from the Teachers’ Retirement System as of June 30, 2025. It provides a 0% increase for retirees with less than two years of retirement, 2% for those retired two to five years, and 4% for retirees with five or more years of retirement as of that date. The bill directly affects current retirees based on their retirement duration, not new retirees. Benefits are calculated as of June 30, 2025, and apply to those continuing to receive payments after the law takes effect. The bill codifies this benefit structure into Oklahoma Statutes.

SB 228 proposes creating "covenant marriage" in Oklahoma as a distinct legal option, requiring couples to sign a detailed Declaration of Intent affirming lifelong commitment, complete premarital counseling, and file this document with their marriage license application. It establishes stricter divorce rules, allowing dissolution only for abandonment, abuse, or adultery after mandatory counseling (except in abuse cases), and permits conversion of existing marriages to covenant marriages through similar steps. The bill also creates an annual tax credit of $2,500 for joint filers or $1,250 each for separate filers for couples entering covenant marriage, non-refundable but carry-forwardable for five years. The bill, introduced in 2025 but failed in committee, has not become law.

SB 615 sets a salary cap for most Oklahoma state employees, limiting annual pay to no more than the Governor's salary (as defined in state law) starting July 1, 2025. It directly affects most state workers, excluding two key groups: higher education staff (including university officials under the State Regents) and licensed healthcare professionals (like doctors and nurses) working for state agencies. The bill requires state departments to seek legislative approval via joint resolution for any compensation exceeding the Governor's salary, though exemptions for the listed groups remain automatic. This creates a clear, enforceable limit on executive branch pay without altering existing salary structures for exempted roles.