OK SB75

Retired teachers receiving benefits from the Teachers' Retirement System of Oklahoma as of July 1, 2014, who continue receiving benefits on or after July 1, 2015, would receive a one-time payment of $500 for 2015

Payment would be funded through legislative appropriations

Creates new section of law to be codified as Section 17-116.22 of Title 70 in Oklahoma Statutes

Effective date of July 1, 2015, with emergency clause for immediate implementation upon passage