Section 2-305.12 - Increase in benefits - July 1, 2020 - OffsetA. Except as provided in subsection B of this section, any person receiving benefits from the Oklahoma Law Enforcement Retirement System as of June 30, 2019, who continues to receive benefits on or after July 1, 2020, shall receive an increase in benefits as follows:1. Zero percent (0%) if the person has been retired for less than two (2) years as of July 1, 2020;2. Two percent (2%) if the person has been retired for at least two (2) years but less than five (5) years as of July 1, 2020; and3. Four percent (4%) if the person has been retired for five (5) years or more as of July 1, 2020.B. Any increase in benefits a person is eligible to receive pursuant to subsection B, C or D of Section 2-305 of Title 47 of the Oklahoma Statutes after July 1, 2020, shall be offset by the increase in benefits, if any, provided by this section.Okla. Stat. tit. 47, § 2-305.12
Added by Laws 2020 , c. 121, s. 5, eff. 7/1/2020.