OK SB26

Retired Teachers' Retirement System members must wait 60 calendar days after their last day of preretirement employment before working for Oklahoma public schools; employment during this period forfeits all retirement benefits received.

For 36 months after retirement, members under age 62 are limited to earning one-half of their final average salary or Social Security's normal retirement age limit (whichever is less); members 62 and older are limited to $30,000 annually or one-half of final average salary (whichever is less).

Members retired since July 1, 2020, who have received benefits for at least 90 days may work as active classroom teachers for 3 years from the effective date with no earnings limitations, but must observe a 90-day waiting period before reemployment and are employed only under temporary contracts.

Public school districts employing retired members must make required contributions to the Teachers' Retirement System of Oklahoma and withhold a 3% fee from postretirement earnings; employees under this provision do not receive additional retirement benefits during reemployment.

The act becomes effective July 1, 2025, with emergency provisions allowing it to take effect immediately upon passage and approval.