Bill > HB3267

This bill authorizes a retirement benefit increase for certain retired members of the Teachers' Retirement System of Oklahoma. Specifically, it provides an 8% increase in benefits for those with a gross retirement benefit less than $90,000 per year, and an increase to bring the benefit up to $97,200 per year for those with a gross benefit between $90,000 and $97,199.99. The bill also applies these increases retroactively to July 1, 2020, for those who began receiving benefits prior to that date. The bill will become effective on November 1, 2024.