A. Except as provided in subsection B of this section, any person receiving benefits from the Oklahoma Police Pension and 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; and
3. 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B. Any increase in benefits a person is eligible to receive pursuant to repealed Section 50-120 of Title 11 of the Oklahoma Statutes, after June 30, 2008, shall be offset by the increase in benefits, if any, provided by this section.
Added by Laws 2020, c. 121, § 3, eff. July 1, 2020.