All Roll Calls
Yes: 256 • No: 66
OklahomaHB 4428Oklahoma 2026 Regular SessionHouseWALLET
Public finance; terms; Board of Trustees; votes; proxy proposal; pecuniary factors; exception; report; publish; effective date.
Sponsored By: Kyle Hilbert (Republican)
Signed by Governor
Senate Committee
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Bill Overview
Analyzed Economic Effects
3 provisions identified: 1 benefits, 0 costs, 2 mixed.
Pension boards must post yearly votes
Beginning November 1, 2026, each pension board must publish a yearly report of every shareholder vote. The report lists the vote caption, how the board or its fiduciary voted, and management’s recommendation. It also lists any recommendation from a proxy advisor or other service provider. Boards must post the report on their website by March 1 after the year.
Default defined‑contribution funds use financial rules
Beginning November 1, 2026, defined contribution plans under the Retirement Freedom Act are excluded from this law. But any default investment option in those plans must be chosen using the law’s pecuniary (financial) and fiduciary standards.
Pension boards vote on finances only
Beginning November 1, 2026, Oklahoma public pension boards must vote on shareholder matters using only financial (pecuniary) factors. The sole aim is to maximize risk‑adjusted returns over the proper time horizon. Pecuniary factors are those a prudent investor expects to change financial risk or return. Environmental, social, or political goals do not count. Boards may engage companies only on financial issues to maximize shareholder value. They may state opposition to proposals with no financial impact. Boards keep proxy voting authority when it is economically practicable. Boards may hire proxy advisors only if the advisor follows these rules and agrees in writing.
Sponsors & Cosponsors
Sponsor
Kyle Hilbert
Republican • House
Cosponsors
Julie Daniels
Republican • Senate
Shane Jett
Republican • Senate
Roll Call Votes
House vote • 5/6/2026
Top_of_Page
Yes: 72 • No: 16
Senate vote • 4/28/2026
THIRD READING
Yes: 0 • No: 8
Senate vote • 4/14/2026
Top_of_Page
Yes: 0 • No: 2
Senate vote • 4/14/2026
Top_of_Page
Yes: 0 • No: 2
House vote • 3/25/2026
Top_of_Page
Yes: 70 • No: 15
House vote • 3/25/2026
Top_of_Page
Yes: 70 • No: 15
House vote • 3/5/2026
DO PASS
Yes: 14 • No: 3
House vote • 3/5/2026
DO PASS
Yes: 14 • No: 3
House vote • 2/10/2026
DO PASS
Yes: 8 • No: 1
House vote • 2/10/2026
DO PASS
Yes: 8 • No: 1
Actions Timeline
Approved by Governor 05/12/2026
5/12/2026HouseSent to Governor
5/6/2026HouseEnrolled measure signed, returned to House
5/6/2026SenateEnrolled, signed, to Senate
5/6/2026HouseReferred for enrollment
5/6/2026HouseFourth Reading, Measure passed: Ayes: 72 Nays: 16
5/6/2026HouseSA's read, adopted
5/6/2026HouseSA's received
4/28/2026HouseEngrossed to House
4/28/2026SenateReferred for engrossment
4/28/2026SenateMeasure passed: Ayes: 35 Nays: 8
4/28/2026SenateGeneral Order, Considered
4/28/2026SenateCoauthored by Senator Jett
4/20/2026SenatePlaced on General Order
4/16/2026SenateReported Do Pass as amended Retirement and Government Resources committee; CR filed
4/14/2026SenateSecond Reading referred to Retirement and Government Resources
4/1/2026SenateFirst Reading
3/26/2026SenateEngrossed, signed, to Senate
3/26/2026HouseReferred for engrossment
3/25/2026HouseThird Reading, Measure passed: Ayes: 70 Nays: 15
3/25/2026HouseGeneral Order
3/25/2026HouseAuthored by Senator Daniels (principal Senate author)
3/5/2026HouseCR; Do Pass Government Oversight Committee
3/5/2026HousePolicy recommendation to the Government Oversight committee; Do Pass Banking, Financial Services and Pensions
2/11/2026HouseReferred to Banking, Financial Services and Pensions
2/3/2026House
Bill Text
Enrolled (final version)
5/6/2026
Amended And Engrossed
4/29/2026
Floor (Senate)
4/15/2026
Senate Committee Report
4/14/2026
Engrossed
3/26/2026
Floor (House)
3/6/2026
House Committee Report
3/5/2026
House Policy Committee Report
2/11/2026
Introduced
1/15/2026
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