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Oklahoma Legislature· HB 1274Second Reading referred to Rules

An act relating to the Teachers' Retirement System of Oklahoma, the official text

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RBH No. 10283

1                   STATE OF OKLAHOMA

2   1st Session of the 60th Legislature (2025)

3 HOUSE BILL 1274                         By: Hays

4

5

6                   AS INTRODUCED

7   An Act relating to the Teachers' Retirement System of

    Oklahoma; amending 70 O.S. 2021, Section 17-116.10,

8   as amended by Section 9, Chapter 300, O.S.L. 2024 (70

    O.S. Supp. 2024, Section 17-116.10), which relates to

9   postretirement employment; providing for increased

    earnings limitations for certain retired members

10  through certain date; providing an effective date;

    and declaring an emergency.

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12

13 BE IT ENACTED BY THE PEOPLE OF THE STATE OF OKLAHOMA:

14  SECTION 1.      AMENDATORY  70 O.S. 2021, Section 17-116.10,

15 as amended by Section 9, Chapter 300, O.S.L. 2024 (70 O.S. Supp.

16 2024, Section 17-116.10), is amended to read as follows:

17  Section 17-116.10. A. Subject to the requirements of Section

18 6-101.2 of this title and any other applicable requirements of law,

19 a member may enter into postretirement employment with a public

20 school of Oklahoma and still receive monthly retirement benefits

21 subject to the following limitations:

22  1. A retired member is not eligible to be employed by the

23 public schools of Oklahoma, in any capacity, for sixty (60) calendar

24 days between the retiree's last day of preretirement public

    Req. No. 10283                                                  Page 1
                                RBH No. 10283

1 education employment and any postretirement public education

2 employment. For purposes of this section, the term "last day of

3 preretirement employment" shall mean the last day the employee is

4 required to be physically present on the job to complete the terms

5 of the employment contract or agreement or the member's effective

6 retirement date, whichever is later. An employee on paid leave is

7 still considered to be employed for purposes of this section.

8 Employment under any conditions during this time, volunteer services

9 for the purpose of obtaining a paid position at a later date, or

10 payment at a later time for services performed during this time

11 period shall cause the forfeiture of all retirement benefits

12 received during the period;

13  2. For thirty-six (36) months following a member's effective

14 retirement date, the retired member shall be subject to earnings

15 limitations on allowable earnings. Earnings limits are determined

16 annually based on a calendar year. For retired members under the

17 age of sixty-two (62) years, allowed earnings from the public

18 schools of Oklahoma for employment for the performance of duties

19 ordinarily performed by classified or nonclassified optional

20 personnel shall be limited to one-half (1/2) of the member's final

21 average salary used in computing retirement benefits or the earnings

22 limit allowed by the Social Security Administration for those under

23 Social Security's normal retirement age, whichever is less. For

24 retired members sixty-two (62) years of age or older, allowed

    Req. No. 10283                                                  Page 2
                                                           RBH No. 10283

1 earnings from the public schools of Oklahoma for the performance of

2 duties ordinarily performed by classified or nonclassified personnel

3 shall be limited to Thirty Thousand Dollars ($30,000.00) or one-half

4 (1/2) of the member's final average salary used in computing

5 retirement benefits, whichever is less. Notwithstanding the

6 earnings limits provided in this paragraph, for a period beginning

7 on the effective date of this act and ending December 31, 2028, a

8 retired member who has fulfilled the sixty-day break in employment

9 provided in paragraph 1 of this subsection and who returns or has

10 previously returned to work as an active classroom teacher in common

11 education or career tech school districts shall be subject to annual

12 earnings limitations of Fifty Thousand Dollars ($50,000.00) on

13 allowable earnings for the member's reemployment period. For

14 purposes of this paragraph, the following shall apply:

15  a. earnings shall mean regular annual compensation as

16  defined in paragraph 23 of Section 17-101 of this

17  title, and shall include any payment by a public

18  school for services rendered by a retired member who

19  is employed for any purpose whatsoever. Supplemental

20  retirement payments paid by a former public school

21  employer pursuant to subsection N of Section 17-105 of

22  this title or other state law shall not be considered

23  as earnings,

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    Req. No. 10283                                                 Page 3
                                         RBH No. 10283

1   b. the earnings limit for the calendar year in which a

2   member retires shall be one-twelfth (1/12) of the

3   annual limit multiplied by the number of months the

4   member is eligible to work and receive payments from

5   the public schools of Oklahoma, and

6   c. earnings in excess of the maximum limit on allowed

7   earnings from public schools of Oklahoma shall result

8   in a loss of retirement benefits of One Dollar ($1.00)

9   for each One Dollar ($1.00) earned over the maximum

10  allowed earnings amount; and

11  3. Notwithstanding paragraph 2 of this subsection, for a period

12 of three (3) years beginning July 1, 2017, members who have retired

13 as of July 1, 2017, as active classroom teachers, who have been

14 retired and receiving a benefit for at least one (1) year, and who

15 have not been employed by any public school during that one-year

16 period, shall be eligible to be reemployed as an active classroom

17 teacher in common or career tech school districts, with no

18 limitations on earnings. For a period of three (3) years beginning

19 July 1, 2021, members who have retired as of July 1, 2020, who have

20 been retired and receiving a benefit for at least one (1) year, and

21 who have not been employed by any public school during that one-year

22 period, shall be eligible to be reemployed as an active classroom

23 teacher in common or career tech school districts, with no

24 limitations on earnings. The one-year period starts with the

    Req. No. 10283                                                  Page 4
                                                         RBH No. 10283

1 retiree's last day of preretirement public education employment.

2 Members returning under this section shall not be subject to any

3 earnings limitations following the end of the three-year periods

4 described in this paragraph. Members returning under this section

5 shall only be employed pursuant to a temporary contract; and

6   4. A member shall be considered to be employed by a school

7 district to perform the duties ordinarily performed by classified or

8 nonclassified optional personnel if the member is hired by the

9 school district in the member's individual capacity to perform the

10 duties or if the member performs the duties through employment with

11 a proprietorship, partnership, corporation, limited liability

12 company or partnership, or any other business structure that has

13 agreed or contracted to provide the services to the school district.

14  B. A public school district that employs a retired member shall

15 be required to make contributions to the System for the retired

16 member in an amount as required in Section 17-108.1 and in paragraph

17 3 of subsection B of Section 17-116.2 of this title.

18  C. For purposes of this section, postretirement employment of

19 less than one thousand (1,000) hours per year with the Governor, the

20 Oklahoma State Senate, the Oklahoma House of Representatives or the

21 Legislative Service Bureau shall not be considered as postretirement

22 employment with a public school of Oklahoma.

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    Req. No. 10283                                                  Page 5
                                   RBH No. 10283

1   D. The Board of Trustees of the Teachers' Retirement System of

2 Oklahoma shall promulgate such rules as are necessary to implement

3 the provisions of this section.

4   E. A member who has entered into postretirement employment with

5 a participating employer of the Teachers' Retirement System of

6 Oklahoma must fully comply with all the provisions of the rules

7 promulgated by the Board of Trustees pursuant to this section in

8 order to continue receiving the member's monthly retirement benefit.

9   SECTION 2. This act shall become effective August 1, 2025.

10  SECTION 3. It being immediately necessary for the preservation

11 of the public peace, health or safety, an emergency is hereby

12 declared to exist, by reason whereof this act shall take effect and

13 be in full force from and after its passage and approval.

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15  60-1-10283      CMA  12/17/24

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    Req. No. 10283                                                 Page 6
THOMAS E. CUMMINS CONSULTING ACTUARY, INC.

2512 E. 71st Street , Suite D  Tulsa, Oklahoma 74136
(918) 492-9658  (918) 492- 9659

December 27, 2024

Representative Hays
Room 302
Re: RBH No. 10283

RBH No 10283. would allow teachers who have been retired for at
least 60 days to return to teaching and earn up to $50.000 and
continue to receive retirement benefits. This option is only
available from the effective date of this bill and December 31,
2028.

RBH No. 10283 is a non fiscal bill as defined OPLAAA,

I am a member of the American Academy of Actuaries and meet the
Qualification Standards of the American Academy of Actuaries to
render the actuarial opinion herein.

Thomas E. Cummins

Thomas E. Cummins, MAAA
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