SB 105 Summary

• Reduces the mandatory waiting period before retired teachers can be re-employed by Oklahoma public schools from 60 calendar days to 30 calendar days after their last day of pre-retirement employment.

• For retired teachers under age 62, caps post-retirement earnings at the lesser of $15,000 annually or one-half of final average salary, unless Social Security Administration limits are higher.

• For retired teachers age 62 and older, increases the earnings cap to the lesser of $30,000 annually or one-half of final average salary when performing classified or nonclassified duties.

• Reduces the retirement tenure requirement from 36 months to 30 days for classified or nonclassified members to earn unlimited annualized earnings with no reduction in retirement benefits.

• Becomes effective November 1, 2015.