Cost of Living Adjustments
After retirement, there are no automatic yearly cost-of living increases. Cost-of-living increases are granted on an ad hoc basis. The Oklahoma Legislature must enact a law to provide for any increase in the retirement benefits.
Generally, if you selected the Option 2, 3 or 4 retirement plans, your beneficiary will receive a cost-of-living increase if he or she is receiving a deceased member's retirement check. However, future increases depend entirely on the language in the legislation.