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Governor of Oklahoma Charles N. Haskell signed into law the first fireman’s pension benefit law May 14, 1908. The new law contained a 1 percent tax on insurance premiums to fund the pension benefits for both paid and volunteer firefighters.
The Oklahoma Public Employees Retirement System (OPERS) is an agency of the government of Oklahoma that manages the public pension system for majority of Oklahoma state employees. 74 Okla.Statutes §§901 et seq. The System provides pension benefits such as normal retirement, disability retirement, surviving spouse benefits and a death benefit.
Pension benefits are primarily designed to favor workers who work a full career (typically at least 25 years of service), which account for approximately 24% of state-level public workers. In a study of 335 statewide retirement plans, Equable Institute found that 74.1% of pension plans in the US served this group of workers well.
The State Pension Commission provides guidance to the Governor of Oklahoma and the Oklahoma Legislature concerning the state's public retirement systems, including identifying problems and areas of abuse, projecting costs of existing systems and modifications to those systems, and recommending pension reform programs. Funding for the Commission ...
The Oklahoma Police Pension and Retirement System (OPPRS) is an agency of the government of Oklahoma that manages the public pension system for municipal police officers in Oklahoma. The System provides pension benefits such as normal retirement, disability retirement, surviving spouse benefits and a death benefit.
Oklahoma Securities Commission (governing body of Department) Executive Bond Oversight Commission; Oklahoma Firefighters Pension and Retirement System. Firefighters Pension and Retirement Board; Fund Board of Investors; Industry Advisory Committee; Law Enforcement Retirement Board; Life and Health Insurance Guaranty Association; Linked Deposit ...
Oklahoma Firefighters Pension and Retirement System; Oklahoma Housing Finance Agency; Oklahoma Municipal League; Oklahoma Office of Management and Enterprise Services;
With 86% of all fire departments being volunteer fire departments, communities are increasingly seeking tools to assist them in boosting the ranks of volunteers. The LOSAP is a simple tool that can be implemented cost-effectively and with minimal taxpayer expense.