Retirement; Oklahoma Pension Legislation Actuarial Analysis Act; definition; Oklahoma Firefighters Pension and Retirement System; computation factor; accrued retirement benefit; disability retirement benefit; monthly retirement annuity; municipal contribution; effective dates; contingent effective dates; emergency.

This bill changes how retirement benefits are calculated for members of the Oklahoma Firefighters Pension and Retirement System. It increases the computation factor for accrued retirement benefits and disability retirement benefits for firefighters who retire on or after the bill's effective date, depending on their years of service. The bill also modifies the definition of "nonfiscal retirement bill" and increases the minimum monthly contribution that municipalities must pay for each firefighter.

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