OK SB1112

Grants a 2% increase in benefits for persons receiving Teachers' Retirement System (TRS) benefits as of July 1, 2012, effective July 1, 2013.

Applies to all TRS retirees except those receiving survivor/beneficiary benefits under Section 17-105(3) of Title 70, who are covered separately under subsection B.

Funding comes from the permanent cost-of-living adjustment (COLA) revolving fund in the Office of the State Treasurer or from legislative appropriation.

Ensures TRS annuitants receive COLA increases at least equal in percentage to the highest COLA granted to other Oklahoma state retirement system members in the same legislative session.

Declares an emergency effective date of July 1, 2013.