OK SB257

Amends the definition of "membership service" in the Oklahoma Teachers' Retirement System to include all sick leave and personal business leave provided under Sections 6-104 and 6-104.1 when utilized by a member, regardless of whether the member received reduced pay for using the leave

Effective July 1, 2015, creditable service for retiring or terminating members will include credit for all utilized sick leave and personal business leave, even if the member received reduced pay while on leave

Expands upon existing provisions that allowed credit for up to 120 days of unused accumulated sick leave (at a rate of 20 days equaling 1 month of creditable service) by also counting leave that was actually used

Changes would apply prospectively to members retiring or terminating employment on or after the effective date and would not be retroactive

Effective date: November 1, 2015