OK SB1487

Establishes a minimum salary schedule for Oklahoma public school teachers beginning with the 2017-2018 school year, with compensation based on years of experience and educational credentials (Bachelor's degree, Board Certification, Master's degree, or Doctor's degree).

Defines "fringe benefits" as all or part of retirement benefits excluding specific contributions and flexible benefit allowances for purposes of meeting minimum salary requirements.

Requires the State Board of Education to accept teaching experience from out-of-state school districts accredited by their respective state boards or agencies, but limits state salary credit to a maximum of 5 years for military service or out-of-state teaching experience.

Directs the State Board of Education to recognize all years of experience for certified teachers in Department of Corrections programs, vocational rehabilitation counselors formerly employed by the State Department of Education, and certain school psychologists employed by state agencies.

Prohibits the minimum salary schedule from applying to teachers in postretirement employment who are still receiving monthly retirement benefits; effective July 1, 2016.