Bill Text For HB2485 - Proposed Committee Substitute(1)

 1|                         COMMITTEE AMENDMENT                           |
  |                      HOUSE OF REPRESENTATIVES                         |
 2|                          State of Oklahoma                            |
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 3|     SPEAKER:                                                          |
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 4|     CHAIR:                                                            |
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 5|I move to amend  HB2485                                                |
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 6|printed Bill                                                           |
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 8|Engrossed Bill                                                         |
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 9|By striking the Title, the Enacting Clause, the entire bill, and by    |
  |inserting in lieu thereof the following language:                      |
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19|                          STATE OF OKLAHOMA                            |
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20|             1st Session of the 57th Legislature (2019)                |
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21|PROPOSED COMMITTEE                                                     |
  |SUBSTITUTE                                                             |
22|FOR                                                                    |
  |HOUSE BILL NO. 2485                  By: McCall                        |
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   Req. No. 8864                                                   Page 1
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 2|                    PROPOSED COMMITTEE SUBSTITUTE                      |
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 3|       An Act relating to public retirement systems;                   |
  |       authorizing benefit increase for certain retired                |
 4|       members of the Oklahoma Firefighters Pension and                |
  |       Retirement System; providing for offset; authorizing            |
 5|       benefit increase for certain retired members of the             |
  |       Oklahoma Police Pension and Retirement System;                  |
 6|       providing for offset; authorizing retirement benefit            |
  |       increase for certain retired members of the Uniform             |
 7|       Retirement System for Justices and Judges;                      |
  |       authorizing retirement benefit increase for certain             |
 8|       retired members of the Oklahoma Law Enforcement                 |
  |       Retirement System; providing for offset; authorizing            |
 9|       retirement benefit increase for certain retired                 |
  |       members of the Teachers' Retirement System of                   |
10|       Oklahoma; authorizing retirement benefit increase for           |
  |       certain retired members of the Oklahoma Public                  |
11|       Employees Retirement System; providing for                      |
  |       codification; and providing an effective date.                  |
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16|BE IT ENACTED BY THE PEOPLE OF THE STATE OF OKLAHOMA:                  |
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17|    SECTION 1.     NEW LAW     A new section of law to be codified     |
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18|in the Oklahoma Statutes as Section 49-143.7 of Title 11, unless       |
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19|there is created a duplication in numbering, reads as follows:         |
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20|    A.  Except as provided in subsection B of this section and         |
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21|except for persons receiving benefits pursuant to Section 49-101 of    |
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22|Title 11 of the Oklahoma Statutes, effective January 1, 2020, any      |
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23|person receiving benefits from the Oklahoma Firefighters Pension and   |
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24|Retirement System as of December 31, 2018, who continues to receive    |
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   Req. No. 8864                                                   Page 2
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 1|benefits on or after January 1, 2020, shall receive a four-percent     |
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 2|increase in said benefits on January 1, 2020.                          |
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 3|    B.  Any increase in benefits a person is eligible to receive       |
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 4|pursuant to repealed Section 49-136 of Title 11 of the Oklahoma        |
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 5|Statutes after June 30, 2008, shall be used to offset the increase     |
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 6|in benefits provided in subsection A of this section.                  |
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 7|    C.  Effective January 1, 2020, any persons receiving benefits      |
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 8|pursuant to Section 49-101 of Title 11 of the Oklahoma Statutes        |
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 9|shall each receive a benefit equal to Seven Dollars and eighty-three   |
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10|cents ($7.83) for each year of credited service not to exceed thirty   |
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11|(30) years of service.                                                 |
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12|    SECTION 2.     NEW LAW     A new section of law to be codified     |
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13|in the Oklahoma Statutes as Section 50-136.9 of Title 11, unless       |
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14|there is created a duplication in numbering, reads as follows:         |
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15|    A.  Except as provided in subsection B of this section, any        |
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16|person receiving benefits from the Oklahoma Police Pension and         |
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17|Retirement System as of December 31, 2018, who continues to receive    |
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18|benefits on or after January 1, 2020, shall receive a four-percent     |
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19|increase in said benefits on January 1, 2020.                          |
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20|    B.  Any increase in benefits a person is eligible to receive       |
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21|pursuant to repealed Section 50-120 of Title 11 of the Oklahoma        |
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22|Statutes, after December 31, 2018, shall be offset by the increase     |
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23|in benefits, if any, provided by this section.                         |
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   Req. No. 8864                                                   Page 3
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 1|    SECTION 3.     NEW LAW     A new section of law to be codified     |
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 2|in the Oklahoma Statutes as Section 1104K of Title 20, unless there    |
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 3|is created a duplication in numbering, reads as follows:               |
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 4|    Any person receiving benefits from the Uniform Retirement System   |
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 5|for Justices and Judges as of December 31, 2018, who continues to      |
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 6|receive benefits on or after January 1, 2020, shall receive a          |
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 7|four-percent increase in said benefits beginning in January 2020.      |
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 8|    SECTION 4.     NEW LAW     A new section of law to be codified     |
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 9|in the Oklahoma Statutes as Section 2-305.12 of Title 47, unless       |
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10|there is created a duplication in numbering, reads as follows:         |
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11|    A.  Except as provided in subsection B of this section, any        |
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12|person receiving benefits from the Oklahoma Law Enforcement            |
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13|Retirement System as of December 31, 2018, who continues to receive    |
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14|benefits on or after January 1, 2020, shall receive a four-percent     |
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15|increase in said benefits beginning in January 2020.                   |
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16|    B.  Any increase in benefits a person is eligible to receive       |
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17|pursuant to subsection B, C or D of Section 2-305 of Title 47 of the   |
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18|Oklahoma Statutes, after January 1, 2020, shall be offset by the       |
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19|increase in benefits, if any, provided by this section.                |
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20|    SECTION 5.     NEW LAW     A new section of law to be codified     |
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21|in the Oklahoma Statutes as Section 17-116.22 of Title 70, unless      |
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22|there is created a duplication in numbering, reads as follows:         |
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23|    A.  Any person receiving benefits from the Teachers' Retirement    |
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24|System of Oklahoma as of December 31, 2018, other than those           |
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   Req. No. 8864                                                   Page 4
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 1|benefits specified in subsection B of this section, who continues to   |
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 2|receive benefits on or after January 1, 2020, shall receive a          |
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 3|four-percent increase in said benefits beginning in January 2020.      |
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 4|    B.  Any person receiving benefits pursuant to subsection (3) of    |
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 5|Section 17-105 of Title 70 of the Oklahoma Statutes whose benefits     |
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 6|commenced prior to January 1, 2020, and who continues to receive       |
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 7|benefits on or after January 1, 2020, shall receive a four-percent     |
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 8|increase in said benefits beginning in January 2020.                   |
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 9|    SECTION 6.     NEW LAW     A new section of law to be codified     |
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10|in the Oklahoma Statutes as Section 930.11 of Title 74, unless there   |
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11|is created a duplication in numbering, reads as follows:               |
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12|    Any person receiving benefits from the Oklahoma Public Employees   |
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13|Retirement System as of December 31, 2018, who continues to receive    |
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14|benefits on or after January 1, 2020, shall receive a four-percent     |
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15|increase in said benefits beginning in January 2020.                   |
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16|    SECTION 7.  This act shall become effective January 1, 2020.       |
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18|    57-1-8864      MAH    04/24/19                                     |
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   Req. No. 8864                                                   Page 5
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