SB 1395 Summary

• Increases the death benefit for annuitants (retired teachers) of the Teachers' Retirement System of Oklahoma from $5,000 to $7,500.

• Increases the death benefit payable under probate waiver procedures from $5,000 to $7,500.

• Makes technical corrections to statutory references in the retirement benefit eligibility section.

• Effective date is July 1, 2012, with emergency declaration for immediate effect upon passage and approval.