SB 1114 Summary

• Amends the composition of the Board of Trustees of the Teachers' Retirement System of Oklahoma by updating statutory language references to clarify which laws govern the system.

• Adds a new nonvoting member position to be appointed by a statewide organization representing retired educators.

• Retains all existing voting board member positions including ex officio state officials, gubernatorial appointees, and legislative appointees representing teachers and retirees.

• Maintains professional qualification requirements for board members appointed by the Governor, including experience in investment management, public funds management, pension administration, banking, law, or accounting.

• Declares an emergency effective date for the changes.