OK HB1621

Modifies the Teachers' Retirement System of Oklahoma to reduce the maximum period for service credit accumulation while serving as a local, state, or national education association officer from 8 years to 5 years.

Members already contributing to the system on July 1, 1994, may continue to contribute under this provision until they have completed 5 years of allowed service (down from the previous 8-year limit).

Applies to individuals absent from teaching service due to election or appointment as an education association officer who elect to retain retirement system membership while continuing to accumulate service credits.

Effective date is July 1, 2011, with an emergency clause declaring the act effective immediately upon passage and approval.

Designated as a nonfiscal retirement bill requiring actuarial analysis under the Oklahoma Pension Legislation Actuarial Analysis Act.