OK
Oklahoma House Bill HB2189

Oklahoma 2022 Regular Session

Oklahoma House Bill HB2189

Introduced
2/1/21  

Caption

Public retirement systems; Teachers' Retirement System; vesting; effective date; emergency.

Impact

The implications of HB 2189 are significant as it directly affects the retirement landscape for Oklahoma's educators. By clarifying the age and service requirements for retirement eligibility, the bill aims to align benefits more closely with actual service years, potentially benefiting longer-serving staff while setting a clearer framework for new hires. This change could lead to an increase in workforce stability by encouraging experienced educators to remain in the system until they reach retirement eligibility. However, it also raises questions regarding the retirement planning of those educators who may be nearing retirement age under the current rules.

Summary

House Bill 2189 seeks to amend the existing statutes governing the Teachers' Retirement System of Oklahoma, specifically regarding retirement eligibility and benefits. The bill proposes modifications to the period of service required for retirement benefit eligibility, tying these provisions directly to specific membership dates. This change is aimed at ensuring a clear structure around when individuals can retire based on their accrued service and age, thus offering more clarity for current and future educators regarding their retirement options.

Contention

Notably, there may be contention surrounding the balance of benefits provided under this bill, particularly regarding disability retirees. The bill states that should a disabled annuitant restore to active service, their disability retirement benefits would cease, which may be seen as a disincentive for disabled members. Additionally, amendments made to the provisions surrounding the application for retirement benefit eligibility may generate debate among educators, especially those concerned about their existing retirement plans and how these changes might retroactively affect those plans.

Latest HB2189 Activity

Companion Bills

No companion bills found.

Previously Filed As

OK HB1907

Public retirement systems; Teachers' Retirement System of Oklahoma; normal retirement; Rule of 80; post-retirement earnings limitation; effective date; emergency.

OK HB1237

Public retirement systems; Oklahoma Firefighters Pension and Retirement System; Oklahoma Police Pension and Retirement System; Uniform Retirement System for Justices and Judges; Oklahoma Law Enforcement Retirement System; Teachers' Retirement System of Oklahoma; Oklahoma Public Employees Retirement System; death benefit amount; effective date.

OK HB3529

Retirement; Teachers' Retirement System; benefit; effective date; emergency.

OK HB2528

Retirement; Teachers' Retirement System of Oklahoma; references; terms; application; procedure; options; liability; expenses; effective date; emergency.

OK HB2528

Retirement; Teachers' Retirement System of Oklahoma; references; deleting terms; application; procedure; options; liability; expenses; effective date; emergency.

OK HB2320

Teachers' Retirement System; postretirement employment; retirement benefits; effective dates; emergency.

OK HB2686

Teachers' Retirement System of Oklahoma; modifying required period of employment for participation in retirement benefits; effective date.

OK HB2755

Retirement; Teachers' Retirement System; members; credit; service; effective date.

OK HB2755

Retirement; Teachers' Retirement System; members; credit; service; effective date.

OK HB2193

Public retirement systems; cost-of-living increases; Oklahoma Firefighters Pension and Retirement System; Oklahoma Police Pension and Retirement System; Uniform Retirement System for Justices and Judges; Oklahoma Law Enforcement Retirement System; Teachers' Retirement System of Oklahoma; Oklahoma Public Employees Retirement System; codification; effective date.

Similar Bills

OK HB1237

Public retirement systems; Oklahoma Firefighters Pension and Retirement System; Oklahoma Police Pension and Retirement System; Uniform Retirement System for Justices and Judges; Oklahoma Law Enforcement Retirement System; Teachers' Retirement System of Oklahoma; Oklahoma Public Employees Retirement System; death benefit amount; effective date.

OK HB2686

Teachers' Retirement System of Oklahoma; modifying required period of employment for participation in retirement benefits; effective date.

OK HB1458

Oklahoma Public Employees Retirement System; death benefits; beneficiaries; transfer; disclaimer; time period; liability; effective date.

OK SB634

Teachers' Retirement System; authorizing certain retirement benefits for specific members; providing calculation for benefit amount; establishing certain requirements for death benefit payment. Effective date.

OK SB634

Teachers' Retirement System; authorizing certain retirement benefits for specific members; providing calculation for benefit amount; establishing certain requirements for death benefit payment. Effective date.

OK HB1423

Teachers' Retirement System of Oklahoma; retirement eligibility; modifying required period of employment for participation in retirement benefits; effective date.

OK HB1423

Teachers' Retirement System of Oklahoma; retirement eligibility; modifying required period of employment for participation in retirement benefits; effective date.

OK HB1907

Public retirement systems; Teachers' Retirement System of Oklahoma; normal retirement; Rule of 80; post-retirement earnings limitation; effective date; emergency.