HB 3313 — Retirement; Retirement Freedom Act; minimum employer contribution amount; employer matching; vesting schedule for certain funds; reemployed participants; effective date.

17081 HOUSEENGROSSED OF REPRESENTATIVES - FLOOR VERSION STATE OF OKLAHOMA 2nd Session of the 60th Legislature (2026) COMMITTEE SUBSTITUTE FOR HOUSE BILL NO.

Eaves of the House and Bullard of the Senate 95 COMMITTEE7 SUBSTITUTE An Act relating to retirement;

Except as otherwise provided by subsection B of this section Beginning November 1, 2026, employers of employees who become participants in the defined contribution retirement HB3313system HFLRshall Pagematch 1the BOLDemployee FACEcontribution denotespaid Committeeon Amendments.a monthly or more frequent basis at the rate of six percent (6.0%) seven percent (7.0%) based on the same compensation amount used to compute the employee contribution amount.

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17081H. system shall match the employee contribution paid on a monthly or more frequent basis at the rate of six percent (6.0%) seven percent (7.0%) based on the same compensation amount used to compute the employee contribution amount.

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17081 B.

Any employee contribution rate that is more than the four and five-tenths percent (4.5%) five percent (5.0%) rate can be chosen by the participating employee upon the employee's initial HB3313participation, HFLRand Pagecan 2be BOLDchanged FACEonce denotesper Committeemonth. Amendments.

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17081 participation, and can be changed once per month.

D.ENGR.

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B.

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17081 D.

Participating employees will have investment HB3313discretion HFLRover Pagethese 3accounts BOLDwithin FACEthe denotesavailable Committeeoptions Amendments.offered by the Board.

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17081 discretion over these accounts within the available options offered by the Board.

Participating Beginning November 1, 2026, participating employees shall at all times be vested at one hundred percent (100%) withENGR. respect to the employer matching amounts, and the gains or losses on these funds, deposited into their defined contribution system account or accounts according to the following schedule based on years of participating service:

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B.

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17081 with respect to the employer matching amounts, and the gains or losses on these funds, deposited into their defined contribution system account or accounts according to the following schedule based on years of participating service:

For participating employees who do not select any investment options, the OPERS Board will establish default investment options for the contributions received from participating HB3313employees HFLRand Pagedefault 4investment BOLDoptions FACEfor denotesmatching Committeeemployer Amendments.contributions.

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17081 employees and default investment options for matching employer contributions.

To the extent that participants leave employment on or before October 31, 2026, and have not vested in all of the employer contributions, the nonvested employer contributions, including any gainsENGR. or losses, shall be immediately forfeited to the 401(a) plan and may be used to offset costs of administering the plan or as permitted by federal law.

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B.

NO.

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17081 gains or losses, shall be immediately forfeited to the 401(a) plan and may be used to offset costs of administering the plan or as permitted by federal law.

COMMITTEEPassed REPORTthe BY:House of Representatives the 11th day of March, 2026.

COMMITTEEPresiding ONOfficer GOVERNMENTof OVERSIGHT,the datedHouse 03/09/2026of -Representatives DOPassed PASS,the AsSenate Amendedthe and_____ Coauthored.day of __________, 2026.

HB3313Presiding HFLROfficer Pageof 5the BOLDSenate FACEENGR. denotes Committee Amendments.

H.

B.