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HB 2742 - Reduces Contributions to Retirement Systems for Police and Firefighters - Oklahoma Key Vote

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Title: Reduces Contributions to Retirement Systems for Police and Firefighters

Vote Smart's Synopsis:

Vote to override a veto of a bill that reduces direct contributions to retirement systems for police, firefighters, and law enforcement.

Highlights:

 

  • Reduces the amount paid to the Oklahoma Firefighters Pension and Retirement Fund out of the general revenue funds to 65 percent for the fiscal year 2020-2021, 45.5 percent for the fiscal year 2021-2022, and 48.75 percent for the fiscal year 2022-2023 (Sec. 1).

  • Reduces the amount paid to the Oklahoma Police Pension and Retirement System out of the general revenue fund to 26 percent for the fiscal year 2020-2021, 18.2 percent for the fiscal year 2021-2022, and 19.5 percent for the fiscal year 2022-2023 (Sec. 1).

  • Reduces the amount paid to the Law Enforcement Retirement Fund out of the general revenue fund to 9 percent for the fiscal year 2020-2021, 6.3 percent for the fiscal year 2021-2022, and 6.75 percent for the fiscal year 2022-2023 (Sec. 1).

  • Reduces the amount paid to the Education Reform Revolving Fund of the State Department of Education out of the general revenue fund for the fiscal year 2021-2022 to 30 percent and 25 percent for the fiscal year 2022-2023 (Sec. 1).

NOTE: A TWO-THIRDS MAJORITY OF MEMBERS ELECTED IS REQUIRED TO OVERRIDE A GOVERNOR'S VETO.

Title: Reduces Contributions to Retirement Systems for Police and Firefighters

Title: Reduces Contributions to Retirement Systems for Police and Firefighters

Title: Reduces Contributions to Retirement Systems for Police and Firefighters

Title: Reduces Contributions to Retirement Systems for Police and Firefighters

Title: Reduces Contributions to Retirement Systems for Police and Firefighters

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