HB 1444 Summary

• Amends Section 17-106 of the Teachers' Retirement System of Oklahoma statutes to change the voting status of the retired educators association board member from nonvoting to voting.

• The statewide organization representing retired educators with at least 7,000 members who are receiving retirement benefits from the system appoints this member to the Board of Trustees.

• Modifies the description of the entity with appointment authority to clarify it is a statewide organization representing retired educators who are receiving retirement benefits.

• Each trustee on the Board is entitled to one vote, with seven votes required for any Board decision.

• Becomes effective November 1, 2015.