Oklahoma 2023 Regular Session

Oklahoma Senate Bill SB964 Compare Versions

Version 1 (Old)

Version 2 (New)

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1	2		RBS No. 1262
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29		-	SENATE FLOOR VERSION
30		-	February 21, 2023
	53	+	STATE OF OKLAHOMA
31	54
	55	+	1st Session of the 59th Legislature (2023)
32	56
33		-	SENATE BILL ~~NO.~~ 964 By: Kidd
	57	+	SENATE BILL 964 By: Kidd
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	63	+	AS INTRODUCED
38	64
39	65		An Act relating to Teachers’ Retirement System of
40	66		Oklahoma; amending 70 O.S. 2021, Secti on 17-116.10,
41	67		which relates to postretirement emplo yment; and
42	68		authorizing certain retired members to return to
43	69		employment in public schools for certain time period
44	70		with no earning limitations ; and providing an
45	71		effective date.
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51	75		BE IT ENACTED BY THE PEOPLE OF THE STATE OF OKLAHOM A:
52	76		SECTION 1. AMENDATORY 70 O.S. 2021, Section 17 -116.10,
53	77		is amended to read as follows:
54	78		Section 17-116.10. A. Subject to the requirements of Section
55	79		6-101.2 of this title and any other applicable requirements of law,
56	80		a member may enter into postretirement employment with a public
57	81		school of Oklahoma and stil l receive monthly retirement benefits
58	82		subject to the following limitations:
59	83		1. A retired member is not eligible to be employed by th e
60	84		public schools of Oklahoma, in any capac ity, for sixty (60) calendar
61	85		days between the retiree ’s last day of preretirement public
62	86		education employment and any postretirement public education
63		-	employment. For purposes of this section, the term “last day of RBS No. 1262
	87	+	employment. For purposes of this section, the term “last day of
	88	+	RBS No. 1262
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91	139		preretirement employment” shall mean the last day the employee is
92	140		required to be physically pre sent on the job to complete the terms
93	141		of the employment contract or agreement. An employee on paid leave
94	142		is still considered to be employed for purposes of thi s section.
95	143		Employment under any condition s during this time, volunteer services
96	144		for the purpose of obtaining a paid positi on at a later date, or
97	145		payment at a later time for services performed during this time
98	146		period shall cause the forfeiture of all retir ement benefits
99	147		received during the period;
100	148		2. Unless otherwise provided in paragraph 3 of this subsection,
101	149		earnings from the public schools may not exceed one-half (1/2) of
102	150		the member’s final average salary used in computing retirement
103	151		benefits, or the Earnings Limitation earnings limitation for
104	152		employees allowed by the Social Security Administration, whichever
105	153		is less. For retired members unde r the age of sixty-two (62) years,
106	154		the limit on allowed earnings from the public schools of Oklahoma
107	155		for employment for the performance of duties ordinarily performed by
108	156		classified or nonclassified personnel shall be the lesser o f Fifteen
109	157		Thousand Dollars ($15,000.00) or one-half (1/2) of the mem ber’s
110	158		final average salary used in computing retirement benefits unless
111	159		the earnings limitation allowed by the Social Security
112	160		Administration would be greater than Fifteen Thousand Dollars
113	161		($15,000.00). For retired members sixty-two (62) years of age or
114		-	older, the limit on allowed earnings from the public schools of RBS No. 1262
	162	+	older, the limit on allowed earnings from the public schools of
	163	+	RBS No. 1262
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142	214		Oklahoma for the performance of duties ordinarily performed by
143	215		classified or nonclassified personnel shall be the lesser of Th irty
144	216		Thousand Dollars ($30, 000.00) or one-half (1/2) of the member’s
145	217		final average salary used in computing retirement benefits. For
146	218		purposes of this paragraph, the following shall apply:
147	219		a. earnings shall mean “regular annual compensation ” as
148	220		defined in paragraph (25) of Section 1 7-101 of this
149	221		title, and shall include an y payment by a public
150	222		school for services rendered by a retired member who
151	223		is employed for any purpose whatsoever. Supplemental
152	224		retirement payments paid by a former public school
153	225		employer pursuant to subsection 9 o f Section 17-105 of
154	226		this title or other s tate law shall not be considered
155	227		as earnings,
156	228		b. the Earnings Limitation earnings limitation for
157	229		employees allowed by the Social Security
158	230		Administration to workers between the age of sixty -two
159	231		(62) years and sixty-five (65) years shall apply to
160	232		retired members below the age o f sixty-two (62) years,
161	233		c. the limit on allowed earnings from the public schools
162	234		shall be automatically adjusted effective the first
163	235		day of January of each year to reflect the current
164		-	Earnings Limitation earnings limitation for employees RBS No. 1262
	236	+	Earnings Limitation earnings limitation for employees
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192	288		as determined from time to time by the Social Security
193	289		Administration,
194	290		d. the earnings limit for the calendar y ear in which a
195	291		member retires shall be one-twelfth (1/12) of the
196	292		annual limit multiplied by the number of months th e
197	293		member is eligible to wor k and receive payments from
198	294		the public schools of Oklahoma,
199	295		e. earnings in excess of the maximum limit on allowed
200	296		earnings from public schools of Oklahoma shall result
201	297		in a loss of future retirement benefits for the year
202	298		the postretirement employment was p erformed of One
203	299		Dollar ($1.00) for each O ne Dollar ($1.00) earned over
204	300		the maximum allowed earnings amount, and
205	301		f. for those members age seventy (70) years and over, the
206	302		earnings in excess of the maximum limit on allowed
207	303		earnings from public schools of Oklahoma s hall be one-
208	304		half (1/2) the member’s final average salary used in
209	305		computing retirement benefits. However, a ny retired
210	306		member receiving benefits from the Teachers’
211	307		Retirement System of Oklahoma who reached age seventy
212	308		(70) years prior to July 1, 1991, shall not be
213	309		restricted by the earnings limits pursuant to this
214	310		subparagraph until January 1, 1994. To qualify for
215		-	the provisions of this subparagraph, the mem ber must RBS No. 1262
	311	+	the provisions of this subparagraph, the mem ber must
	312	+	RBS No. 1262
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243	363		be employed less than one-half (1/2) time compared to
244	364		other full-time employees in simi lar positions;
245	365		3. Notwithstanding paragraph 2 of this subsection, a retired
246	366		classified or nonclassified member who has been retired for thirty-
247	367		six (36) or more months and who is employed by a public school to
248	368		perform duties ordinarily performed by classif ied or nonclassified
249	369		personnel shall be able to receive annualized e arnings from the
250	370		public school with no reduction in retirement benefits regardless of
251	371		the amount of annualized earnings. For a peri od of three (3) years
252	372		beginning July 1, 2017, members wh o have retired as of July 1 , 2017,
253	373		as active classroom teachers, who have been retired and receiving a
254	374		benefit for at least one (1) year, and who have not been employed by
255	375		any public school during tha t one-year period, shall be eligible to
256	376		be reemployed as an active classroom teache r in common or career
257	377		tech school districts, with no limitations on earnings. For a
258	378		period of three (3) years beginning July 1, 20 21, members who have
259	379		retired as of July 1, 2020, who have been retired and receiv ing a
260	380		benefit for at least one (1) year, and who have not been employed by
261	381		any public school during that one-year period, shall be eligible to
262	382		be reemployed as an active classroom teacher in common or career
263	383		tech school districts, with no limitations on ea rnings. The one-
264	384		year period starts with the retiree’s last day of preretirement
265	385		public education employment. On and after the effective date of
266		-	this act, members who have been r etired and receiving benefits for RBS No. 1262
	386	+	this act, members who have been reti red and receiving benefits for
	387	+	RBS No. 1262
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294	438		at least one (1) year, notwithstanding t he member’s retirement date,
295	439		and who have not been emplo yed by any public school during that one-
296	440		year period, shall be eligible to be reemployed as an active
297	441		classroom teacher in common or career tech school districts, with no
298	442		limitations on earnings , for a period of three (3) years. Members
299	443		returning under this section shall not b e subject to any earning
300	444		limitations following the end of the three-year periods described in
301	445		this paragraph. Members returning under this section shall only be
302	446		employed pursuant to a temporary contract; and
303	447		4. A member shall be considered to be employed by a school
304	448		district to perform the duties ordina rily performed by classified or
305	449		nonclassified personnel if the member is hired by the school
306	450		district in the member’s individual capacity to perform the duties
307	451		or if the member performs the duties through em ployment with a
308	452		proprietorship, partnership, corp oration, limited liability company
309	453		or partnership, or any other business structure that has agreed or
310	454		contracted to provide t he services to the school district.
311	455		B. A public school district that employs a re tired member shall
312	456		be required to make contribut ions to the System for the retired
313	457		member in an amount as required in Section 17-108.1 and in paragraph
314	458		3 of subsection B of S ection 17-116.2 of this title.
315	459		C. For purposes of this section, postretirement employment of
316	460		less than one thousand (1,000) hour s per year with the Governor, the
317		-	State Senate, the House of Representatives or the Legislative RBS No. 1262
	461	+	State Senate, the House of Representatives or the Legislative
	462	+	RBS No. 1262
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345	513		Service Bureau shall not be con sidered as postretirement employment
346	514		with a public school of Oklahoma.
347	515		D. The Board of Trustees of the Teachers’ Retirement System of
348	516		Oklahoma shall promulgate such rules as are nec essary to implement
349	517		the provisions of this section.
350	518		E. A member who has e ntered into postretirement employment with
351	519		a participating employer of the Teacher s’ Retirement System of
352	520		Oklahoma must fully c omply with all the provisions of the rules
353	521		promulgated by the Board of Trustees pursuant to this section in
354	522		order to continue rec eiving his or her monthly retirement benefit.
355	523		SECTION 2. This act shall become effecti ve November 1, 2023.
356		-	~~COMMITTEE REPORT BY: C OMMITTEE ON RETIREMENT AND INSURANCE~~
357		-	~~February 21,~~ 2023 ~~- DO PASS~~
	524	+
	525	+	59-1-1262 RD 1/19/2023 11:36:42 AM