Bill > HB2288

This bill modifies the postretirement employment rules for members of the Teachers' Retirement System of Oklahoma, primarily focusing on earnings limitations. Previously, retired members had restrictions on their earnings after retirement, including a sixty-day waiting period before returning to work and limits on annual earnings based on age and previous salary. The new legislation removes these earnings limitations, allowing retired classified or nonclassified members to be employed by public schools and receive full retirement benefits without any reduction, regardless of their annualized earnings. The bill also requires school districts to continue making contributions to the retirement system for these reemployed retired members. The effective dates are staggered, with Section 1 potentially becoming effective immediately or on October 1, 2025, and Section 2 becoming effective on July 1, 2025, depending on the approval of the emergency clause. The bill includes an emergency clause, suggesting its immediate importance for public education staffing and retirement system flexibility.

Budget and Finance, Business and Industry, Government Affairs, Labor and Employment

http://www.oklegislature.gov/BillInfo.aspx?Bill=hb2288&Session=2500