STATE OF OKLAHOMA

1st Session of the 53rd Legislature (2011)

HOUSE BILL 1007	By:	McDaniel (Randy)

AS INTRODUCED

An Act relating to public retirement systems; enacting the Pension Funding Accountability Act; providing for noncodification; providing an effective date; and declaring an emergency.

SUBJECT:  Public retirement systems
BE IT ENACTED BY THE PEOPLE OF THE STATE OF OKLAHOMA:
SECTION 1.     NEW LAW     A new section of law not to be codified in the Oklahoma Statutes reads as follows:
This act shall be known and may be cited as the “Pension Funding Accountability Act”.
SECTION 2.  This act shall become effective July 1, 2011.
SECTION 3.  It being immediately necessary for the preservation of the public peace, health and safety, an emergency is hereby declared to exist, by reason whereof this act shall take effect and be in full force from and after its passage and approval.

53-1-5225	MAH	11/16/10
THOMAS E. CUMMINS  CONSULTING ACTUARY, INC.
2512 E. 71st  Street,  Suite D ∙  Tulsa, Oklahoma 74136                             (918) 492-9658  ∙ (918) 492-9659

November 16, 2010

Representative Randy McDaniel
Room 302B

Re: RBH No. 5225

RBH No. 5225 is the Pension Funding Act.  It is a shell bill.

RBH No. 5225 is a nonfiscal retirement bill as defined by the Oklahoma Pension Legislation Actuarial Analysis Act.

Thomas E. Cummins

Thomas E. Cummins, MAAA