HB 1782 Summary

• Increases post-retirement earnings limit for retired teachers under age 62 from $15,000 to $40,000 annually while still receiving retirement benefits from Oklahoma public schools.

• Maintains $30,000 annual earnings limit for retired teachers age 62 or older performing classified or nonclassified personnel duties.

• Allows retired classified or nonclassified members retired for 36 or more months to receive unlimited annualized earnings with no reduction in retirement benefits.

• Requires public school districts employing retired members to make contributions to the Teachers' Retirement System as specified in Section 17-108.1.

• Becomes effective July 1, 2015, with an emergency declaration for immediate implementation.