Oklahoma 2024 Regular Session

Oklahoma Senate Bill SB1520 Compare Versions

Version 1 (Old)

Version 2 (New)

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1		-	RBS No. 3788
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3		-	Req. No. 3788 Page 1 1
	1	+	RBH No. 10979
	2	+	ENGR. H. A. to ENGR. S. B. NO. 1520 Page 1 1
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28		-	STATE OF OKLAHOMA
29		-
30		-	2nd Session of the 59th Legislature (2024)
31		-
32		-	CONFERENCE COMMITTEE SUBSTITUTE
33		-	FOR ENGROSSED
34		-	SENATE BILL 1520 By: Pemberton and Stephens of
	27	+	ENGROSSED HOUSE AMENDME NT
	28	+	TO
	29	+	ENGROSSED SENATE BILL NO . 1520 By: Pemberton and Stephens of
35	30		the Senate
36	31
37	32		and
38	33
39		-	Hays, Hilbert, Davis, and
40		-	Moore of the House
	34	+	Hays of the House
41	35
42	36
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44		-	CONFERENCE COMMITTEE SUBSTITUT E
45	38
46		-	An Act relating to Teachers’ Retirement System of
	39	+	An Act relating to the Teachers’ Retirement System of
47	40		Oklahoma; amending 70 O.S. 2021, Section 17 -116.10,
48		-	as amended by Section 9 of Enrolled House Bill No.
49		-	2528 of the 2nd Session of the 59th Oklahoma
50		-	Legislature, which relates to postretireme nt
51		-	employment; providing for increased earnings
52		-	limitations for certain retired members through
53		-	certain date; updating statutory l anguage; and
54		-	removing obsolete language .
	41	+	which relates to postretirement employment; modifying
	42	+	earnings limitation for certain retirees returning to
	43	+	work in a public school; providing an effective date;
	44	+	and declaring an emergency.
55	45
56	46
57	47
58		-	BE IT ENACTED BY THE PEOPLE OF THE STATE OF OKLAHOMA:
59		-	SECTION 1. AMENDATORY 70 O.S. 2021, Section 17 -116.10,
60		-	as amended by Section 9 of Enrolled House Bill No. 2528 of the 2nd
61		-	Session of the 59th Oklahoma Legislature, is amended to read as
62		-	follows:
63		-	Section 17-116.10. A. Subject to the requirements of Sect ion
64		-	6-101.2 of this title and any other applicable requirements of law,
65		-	a member may enter into postretirement employment with a public RBS No. 3788
66	48
67		-	Req. No. 3788 Page 2 1
	49	+
	50	+
	51	+
	52	+
	53	+	AUTHORS: Add the following House Coauthor s: Hilbert and Davis
	54	+
	55	+	AMENDMENT NO. 1. Strike the title, enacting clause, and entire bill
	56	+	and insert:
	57	+
	58	+
	59	+
	60	+
	61	+	"An Act relating to the public retirement systems;
	62	+	amending 70 O.S. 2021, Section 17-116.10, which
	63	+	relates to postretirement employment; modifying
	64	+	earnings limitation for certain retirees returning to
	65	+	work in a public school; modifying postretirement
	66	+	earning limitation for certain time period ; providing
	67	+	an effective date; and declaring an emergency.
	68	+
	69	+
	70	+
	71	+
	72	+
	73	+	RBH No. 10979
	74	+	ENGR. H. A. to ENGR. S. B. NO. 1520 Page 2 1
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92		-	school of Oklahoma and still receive monthly retirement benefits
93		-	subject to the following limitations:
	99	+	BE IT ENACTED BY THE PE OPLE OF THE STATE OF OKLAHOMA:
	100	+	SECTION 1. AMENDATORY 70 O.S. 2021, Section 17-116.10,
	101	+	is amended to read as follows:
	102	+	Section 17-116.10 A. Subject to the requirements of Section 6 -
	103	+	101.2 of this title and any other applicable requ irements of law, a
	104	+	member of the Teachers’ Retirement System of Oklahoma may enter into
	105	+	postretirement employment with a public school of Okla homa and still
	106	+	receive monthly retirement be nefits subject to the following
	107	+	limitations:
94	108		1. A retired member is n ot eligible to be employed by the
95	109		public schools of Ok lahoma, in any capacity, for sixty (60) calendar
96	110		days between the retiree ’s last day of preretirement public
97	111		education employment and any postretirement public education
98	112		employment. For purposes of thi s section, the term “last day of
99	113		preretirement employm ent” shall mean the last day the employee is
100	114		required to be physically present on the jo b to complete the terms
101		-	of the employment contract or agreement or the member’s effective
102		-	retirement date, whichever is later. An employee on paid leave is
103		-	still considered to be employed for purposes of this section.
	115	+	of the employment co ntract or agreement. An employee on paid leave
	116	+	is still considered to be employed for purposes of this section.
104	117		Employment under any conditions during this time, volunteer services
105	118		for the purpose of obtaining a paid position at a later date, or
106	119		payment at a later time for services performed during this time
107	120		period shall cause the forfeiture of all retirement benefits
108		-	received during the period;
109		-	2. For thirty-six (36) months following a member’s effective
110		-	retirement date, the retired member shall be subj ect to earnings
111		-	limitations on allowable earnings. Earnings limits are determined
112		-	annually based on a calendar year. For retired members under the
113		-	age of sixty-two (62) years of age, allowed earnings from the public
114		-	schools of Oklahoma for employment for the performance of duties
115		-	ordinarily performed by classified or nonclassified optional RBS No. 3788
116		-
117		-	Req. No. 3788 Page 3 1
	121	+	received during the period; RBH No. 10979
	122	+	ENGR. H. A. to ENGR. S. B. NO. 1520 Page 3 1
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142		-	personnel shall be limited to one -half (1/2) of the member’s final
143		-	average salary used in computing retirement benefits or the earnings
144		-	limit allowed by the Social Secu rity Administration for those under
145		-	Social Security’s normal retirement age, whichever is less. For
146		-	retired members sixty -two (62) years of age or older, allowed
	147	+	2. Unless otherwise provided in this paragraph or in paragraph
	148	+	3 of this subsection, earnings from the public schools may not
	149	+	exceed one-half (1/2) of the member ’s final average salary used in
	150	+	computing retirement benefits, or the Earnings Limitation earnings
	151	+	limitation for employees allowed by the Social Security
	152	+	Administration, whichever is less. For Until July 1, 2027, for
	153	+	retired members having attained the age of fifty -five (55) years but
	154	+	less than fifty-nine and one-half (59 1/2) years, the limit on
	155	+	allowed earnings from the public schools of Oklahoma for employmen t
	156	+	for the performance of duties ordinarily p erformed by classified or
	157	+	nonclassified personnel s hall be the lesser of Thirty Thousand
	158	+	Dollars ($30,000.00) or one -half (1/2) of the member’s final average
	159	+	salary used in computing retirement benefits unless th e earnings
	160	+	limitation allowed by the Social Security Administration would be
	161	+	greater than Thirty Thousand Dollars ($30,000.00). Until July 1,
	162	+	2027, for retired members having attained the age of fifty-nine and
	163	+	one-half (59 1/2) years or older, there shall be no limit on allowed
147	164		earnings from the public schools of Oklahoma for the performance of
	165	+	duties ordinarily performed by classified or nonclassified
	166	+	personnel. Effective July 1, 2027, for retired members under the
	167	+	age of sixty-two (62) years, the limit on allowed earnings from the
	168	+	public schools of Oklahoma f or employment for the performance of
148	169		duties ordinarily performed by classified or nonclassified personnel
149		-	shall be limited to Thirty Thousand Dollars ($30,000.00) or one -half
150		-	(1/2) of the member’s final average salary used in computing
151		-	retirement benefits, whichever is less. Notwithstanding the
152		-	earnings limits provi ded in this paragraph, for a period beginning
153		-	on the effective date of this act and ending December 31, 2027, a
154		-	retired member who ha s fulfilled the sixty-day break in employment
155		-	provided in paragraph 1 of this subsection and who return s or has
156		-	previously returned to work as an active classroom teacher in common
157		-	education or career tech school districts shall be subject to annual
158		-	earnings limitations of Fifty Thousand Dollars ($50,000.00) on
159		-	allowable earnings for the member’s reemployment period. For
160		-	purposes of this paragraph, the following shall apply:
161		-	a. earnings shall mean regular annual compensation as
162		-	defined in paragraph 23 of Section 17-101 of this
163		-	title, and shall include any payment by a public
164		-	school for services rendered by a retired member who
165		-	is employed for any purpose whatsoever. Supplemental RBS No. 3788
166		-
167		-	Req. No. 3788 Page 4 1
	170	+	shall be the lesser of Fifteen Thousand Dollars ($15,000.00) or one - RBH No. 10979
	171	+	ENGR. H. A. to ENGR. S. B. NO. 1520 Page 4 1
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	196	+	half (1/2) of the member ’s final average salary used in computing
	197	+	retirement benefits unless the earnings limitation allowed by th e
	198	+	Social Security Administration would be greater than Fifteen
	199	+	Thousand Dollars ($15,000.00). For Effective July 1, 2027, for
	200	+	retired members sixty -two (62) years of age or older the limit on
	201	+	allowed earnings from the public schools of Oklahoma for the
	202	+	performance of duties ordinarily performed by classified or
	203	+	nonclassified personnel shall be the lesser of Thirty Thousand
	204	+	Dollars ($30,000.00) or one -half (1/2) of the member ’s final average
	205	+	salary used in computing retirement benefits.
	206	+	For purposes of this paragrap h, the following shall apply:
	207	+	a. earnings shall mean “regular annual compensation” as
	208	+	defined in paragraph (25) of Section 17 -101 of this
	209	+	title, and shall include any payment by a public
	210	+	school for services rendered by a retired member who
	211	+	is employed for any purpose whatsoever. Supplemental
192	212		retirement payments paid by a former public school
193		-	employer pursuant to subsection N of Section 17-105 of
	213	+	employer pursuant to subsection 9 of Section 17 -105 of
194	214		this title or other state law shall not be considered
195	215		as earnings,
196		-	b. the earnings limit for th e calendar year in which a
197		-	member retires shall be one -twelfth (1/12) of the
198		-	annual limit multiplied by the number of months the
199		-	member is eligible to work and receive payments from
200		-	the public schools of Oklahoma, and
201		-	c. earnings in excess of the maximum l imit on allowed
202		-	earnings from public schools of Oklahoma shall result
203		-	in a loss of retirement benefits of One Dollar ($1.00)
204		-	for each One Dollar ($1.00) earned over the maximum
205		-	allowed earnings amount; and
206		-	3. Notwithstanding paragraph 2 of this subsection , for a period
207		-	of three (3) years beginning July 1, 2017, members who have retired
208		-	as of July 1, 2017, as active classroom teachers, who have been
209		-	retired and receiving a benefit for at least one (1) year, and who
210		-	have not been employed by any public schoo l during that one-year
211		-	period, shall be eligible to be reemployed as an active classroom
212		-	teacher in common or career tech scho ol districts, with no
213		-	limitations on earnings. For a period of three (3) years beginning
214		-	July 1, 2021, members who have retired a s of July 1, 2020, who have
215		-	been retired and receiving a benefit for at least one (1) year, and RBS No. 3788
216		-
217		-	Req. No. 3788 Page 5 1
	216	+	b. the Earnings Limitation earnings limitation for
	217	+	employees allowed by the Social Security
	218	+	Administration to workers between the age of sixty -two RBH No. 10979
	219	+	ENGR. H. A. to ENGR. S. B. NO. 1520 Page 5 1
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242		-	who have not been employed by any public school during that one -year
243		-	period, shall be eligible to be reemployed as an active classroom
244		-	teacher in common or care er tech school districts, with no
245		-	limitations on earnings. The one -year period starts with the
246		-	retiree’s last day of preretir ement public education employment.
247		-	Members returning under this section shall not be subject to any
248		-	earnings limitations followin g the end of the three -year periods
249		-	described in this paragraph. Members returning under this section
250		-	shall only be employed pursuant to a temporary contract; and
251		-	4. A member shall be considered to be employed by a school
252		-	district to perform the duties o rdinarily performed by classified or
253		-	nonclassified optional personnel if the member is hired by the
254		-	school district in the mem ber’s individual capacity to perform the
255		-	duties or if the member performs the duties through employment with
256		-	a proprietorship, par tnership, corporation, limited liability
257		-	company or partnership, or any other business structure that has
258		-	agreed or contracted to provide the services to the school district.
259		-	B. A public school district that employs a retired member shall
260		-	be required to make contributions to the System for the retired
261		-	member in an amount as required in Section 17 -108.1 and in paragraph
262		-	3 of subsection B of Section 17-116.2 of this title.
263		-	C. For purposes of this section, postretirement employment of
264		-	less than one thousand (1,000) hours per year with the Governor, the
265		-	Oklahoma State Senate, the Oklahoma House of Representatives or the RBS No. 3788
266		-
267		-	Req. No. 3788 Page 6 1
	244	+	(62) years and sixty -five (65) years shall apply to
	245	+	retired members below the age of sixty -two (62) years,
	246	+	c. the limit on allowed earnings from the publi c schools
	247	+	shall be automatically adjusted effective th e first
	248	+	day of January of each year to reflect the current
	249	+	Earnings Limitation earnings limitation for employees
	250	+	as determined from time to time by the Social Security
	251	+	Administration,
	252	+	d. the earnings limit for the calendar year in which a
	253	+	member retires shall be one-twelfth (1/12) of the
	254	+	annual limit multiplied by the number of months the
	255	+	member is eligible to work and receive payments from
	256	+	the public schools of Oklahoma,
	257	+	e. earnings in excess of the max imum limit on allowed
	258	+	earnings from public schools of Oklahoma shall result
	259	+	in a loss of future retirement benefits for the year
	260	+	the postretirement employment was performed of One
	261	+	Dollar ($1.00) for each One Doll ar ($1.00) earned over
	262	+	the maximum allowed e arnings amount, and
	263	+	f. for those members age seventy ( 70) years and over, the
	264	+	earnings in excess of the maximum limit allowed
	265	+	earnings from public schools of Oklahoma shall be one -
	266	+	half (1/2) the member’s final average salary used in
	267	+	computing retirement be nefits. However, any retired RBH No. 10979
	268	+	ENGR. H. A. to ENGR. S. B. NO. 1520 Page 6 1
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292		-	Legislative Service Bureau shall not be considered as postretirement
293		-	employment with a public school of Oklahoma.
	293	+	member receiving benefit s from the Retirement System
	294	+	who reached age seventy (70) years prior to July 1,
	295	+	1991, shall not be restricted by the earnings limit s
	296	+	pursuant to this subpara graph until January 1, 1994.
	297	+	To qualify for the provisions of this subparagraph,
	298	+	the member must be employed less than one-half (1/2)
	299	+	the time compared to other full -time employees in
	300	+	similar positions;
	301	+	3. Notwithstanding paragraph 2 of this subsection, a retired
	302	+	classified or nonclassified member who has been retired for thirty-
	303	+	six (36) or more mont hs and who is employed by a public school to
	304	+	perform duties ordinarily performed by clas sified or nonclassified
	305	+	personnel shall be a ble to receive annualized earnings from the
	306	+	public school with no redu ction in retirement benefits regardless of
	307	+	the amount of annualized earnings. For a period of three (3) years
	308	+	beginning July 1, 2017, members who have retired as of July 1, 2017,
	309	+	as active classroom teachers, who have been retired and receiving a
	310	+	benefit for at least one (1) year, and who have not been emplo yed by
	311	+	any public school during that one -year period, shall be eligible to
	312	+	be reemployed as an active classroom teacher in common or career
	313	+	tech school districts, with no limitations on earnings. For a
	314	+	period of three (3) years beginning July 1, 2021, mem bers who have
	315	+	retired as of July 1, 2020, who have been retired and receiving a
	316	+	benefit for at least one (1) year, and who have not been e mployed by RBH No. 10979
	317	+	ENGR. H. A. to ENGR. S. B. NO. 1520 Page 7 1
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	342	+	any public school during that one -year period, shall be eligible to
	343	+	be reemployed as an active classroom te acher in common or career
	344	+	tech school districts, with no limitations on earnings. The o ne-
	345	+	year period starts with the retiree ’s last day of preretirement
	346	+	public education employment. Members returning under this section
	347	+	shall not be subject to any earning limitations earnings limitation
	348	+	following the end of the three -year periods described in this
	349	+	paragraph. Members returning under this s ection shall only be
	350	+	employed pursuant to a temporary contract; and
	351	+	4. A member shall be considered to be employed by a school
	352	+	district to perform the duties ordinarily performed by classified or
	353	+	nonclassified personnel if the member is hired by the school
	354	+	district in the member’s individual capacity to perform the du ties
	355	+	or if the member performs the duties through empl oyment with a
	356	+	proprietorship, partnership, corporation, limited liability company
	357	+	or partnership, or any other business structure that has agreed or
	358	+	contracted to provide the services to the school dist rict.
	359	+	B. A public school district that employs a reti red member shall
	360	+	be required to make contributions to the System for the retired
	361	+	member in an amount as required in Section 17 -108.1 and in paragraph
	362	+	3 of subsection B of Section 17 -116.2 of this title.
	363	+	C. For purposes of this section, postretirement empl oyment of
	364	+	less than one thousand (1,000) hours per year with the Governor, the
	365	+	State Senate, the House of Representatives or the Legislati ve RBH No. 10979
	366	+	ENGR. H. A. to ENGR. S. B. NO. 1520 Page 8 1
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	391	+	Service Bureau shall not be considered as postretirement empl oyment
	392	+	with a public school of Oklahoma.
294	393		D. The Board of Trustees of the Teachers’ Retirement System of
295	394		Oklahoma shall promulgate such rules as are necessary to implement
296	395		the provisions of this section.
297	396		E. A member who has entered into postretirement emp loyment with
298	397		a participating employer of the Teachers ’ Retirement System of
299	398		Oklahoma must fully comply with all the provisions of the rules
300	399		promulgated by the Board of Trustees pursuant to thi s section in
301		-	order to continue receiving the member’s monthly retirement benefit.
	400	+	order to continue receiving his or her monthly reti rement benefit.
	401	+	SECTION 2. This act shall become effective July 1, 2024.
	402	+	SECTION 3. It being immediately nec essary for the preservation
	403	+	of the public peace, health or safety, an emergency is hereby
	404	+	declared to exist, by re ason whereof this act shall take effect and
	405	+	be in full force from and after its passage and approval."
	406	+	RBH No. 10979
	407	+	ENGR. H. A. to ENGR. S. B. NO. 1520 Page 9 1
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303		-	59-2-3788 RD 5/22/2024 11:13:08 AM
	432	+	Passed the House of Representatives the 25th day of April, 2024.
	433	+
	434	+
	435	+
	436	+
	437	+
	438	+	Presiding Officer of the House of
	439	+	Representatives
	440	+
	441	+
	442	+	Passed the Senate the ____ day of _______ ___, 2024.
	443	+
	444	+
	445	+
	446	+
	447	+
	448	+	Presiding Officer of the Senate RBS No. 2448
	449	+
	450	+	ENGR. S. B. NO. 1520 Page 1 1
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	474	+
	475	+	ENGROSSED SENATE
	476	+	BILL NO. 1520 By: Pemberton and Stephens of
	477	+	the Senate
	478	+
	479	+	and
	480	+
	481	+	Hays of the House
	482	+
	483	+
	484	+
	485	+	An Act relating to the Teachers’ Retirement System of
	486	+	Oklahoma; amending 70 O.S. 2021, Section 17 -116.10,
	487	+	which relates to postretirement employ ment; modifying
	488	+	earnings limitation for certain retirees returning to
	489	+	work in a public school; providing an effective date;
	490	+	and declaring an emergency.
	491	+
	492	+
	493	+
	494	+
	495	+	BE IT ENACTED BY THE PEOPLE OF THE STATE OF OKLAHOMA:
	496	+	SECTION 4. AMENDATORY 70 O.S. 2021, Section 17-116.10,
	497	+	is amended to read as follows:
	498	+	Section 17-116.10. A. Subject to the requirements of Section
	499	+	6-101.2 of this title and any other applicable requirements of law,
	500	+	a member of the Teachers’ Retirement System of Oklahoma may enter
	501	+	into postretirement employment with a public school of Oklahoma and
	502	+	still receive monthly retirement benefits subject to the following
	503	+	limitations:
	504	+	1. A retired member is not eligible to be employed by the
	505	+	public schools of Oklahoma, in any capacit y, for sixty (60) calendar
	506	+	days between the retiree ’s last day of preretirement public
	507	+	education employment and any postretirement public education
	508	+	employment. For purposes of this section, the term “last day of RBS No. 2448
	509	+
	510	+	ENGR. S. B. NO. 1520 Page 2 1
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	534	+
	535	+	preretirement employment ” shall mean the last day the employee is
	536	+	required to be physically present on the job to complete the terms
	537	+	of the employment contract or agreement. An employee on paid leave
	538	+	is still considered to be employed for purposes of this section.
	539	+	Employment under any conditions during this time, volunteer services
	540	+	for the purpose of obtaining a paid position at a later date, or
	541	+	payment at a later time for services performed during this time
	542	+	period shall cause the forfeiture of all retirement benefits
	543	+	received during the period;
	544	+	2. Unless otherwise provided in paragraph 3 of this subsection,
	545	+	earnings from the public schools may not exceed one -half (1/2) of
	546	+	the member’s final average salary used in computing retirement
	547	+	benefits, or the Earnings Limitation earnings limitation for
	548	+	employees allowed by the Social Security Administration, whichever
	549	+	is less. For retired members under the age of sixty -two (62) years,
	550	+	the limit on allowed earnings from the public schools of Oklahoma
	551	+	for employment for the performance of duties ordinarily performed by
	552	+	classified or nonclassified personnel shall be the lesser of Fifteen
	553	+	Thousand Dollars ($15,000.00) or one -half (1/2) of the member ’s
	554	+	final average salary used in computing retirement benefits unless
	555	+	the earnings limitation allowed by the Socia l Security
	556	+	Administration would be greater than Fifteen Thousand Dollars
	557	+	($15,000.00). For retired members sixty -two (62) years of age or
	558	+	older the limit on allowed earnings from the public schools of RBS No. 2448
	559	+
	560	+	ENGR. S. B. NO. 1520 Page 3 1
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	584	+
	585	+	Oklahoma for the performance of duties ordinarily perf ormed by
	586	+	classified or nonclassified personnel shall be the lesser of Thirty
	587	+	Thousand Dollars ($30,000.00) or one -half (1/2) of the member ’s
	588	+	final average salary used in computing retirement benefits. On and
	589	+	after the effective date of this act, for retir ed members under the
	590	+	age of sixty-two (62) years, the limit on allowed earnings from the
	591	+	public schools of Oklahoma for employment for the performance of
	592	+	duties ordinarily performed by classified or nonclassified personnel
	593	+	shall be the lesser of Thirty Tho usand Dollars ($30,000.00) or one -
	594	+	half (1/2) of the member ’s final average salary used in computing
	595	+	retirement benefits unless the earnings limitation allowed by the
	596	+	Social Security Administration would be greater than Thirty Thousand
	597	+	Dollars ($30,000.00). On and after the effective date of this act,
	598	+	for retired members sixty -two (62) years of age or older , the limit
	599	+	on allowed earnings from the public schools of Oklahoma for the
	600	+	performance of duties ordinarily performed by classified or
	601	+	nonclassified personnel shall be the lesser of Fifty -five Thousand
	602	+	Dollars ($55,000.00) or one -half (1/2) of the member ’s final average
	603	+	salary used in computing retirem ent benefits. For purposes of this
	604	+	paragraph, the following shall apply:
	605	+	a. earnings shall mean “regular annual compensation” as
	606	+	defined in paragraph (25) of Section 17 -101 of this
	607	+	title, and shall include any payment by a public
	608	+	school for services rendered by a retired member who RBS No. 2448
	609	+
	610	+	ENGR. S. B. NO. 1520 Page 4 1
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	635	+	is employed for any purpose whatsoever. Supplemental
	636	+	retirement payments pai d by a former public school
	637	+	employer pursuant to subsection 9 of Section 17 -105 of
	638	+	this title or other state law shall not be considered
	639	+	as earnings,
	640	+	b. the Earnings Limitation earnings limitation for
	641	+	employees allowed by the Social Security
	642	+	Administration to workers between the age of sixty -two
	643	+	(62) years and sixty -five (65) years shall apply to
	644	+	retired members below the age of sixty -two (62) years,
	645	+	c. the limit on allowed earnings from the public schools
	646	+	shall be automatically adjusted effective the first
	647	+	day of January of each year to reflect the current
	648	+	Earnings Limitation earnings limitation for employees
	649	+	as determined from time to time by the Social Security
	650	+	Administration,
	651	+	d. the earnings limit for the calendar year in which a
	652	+	member retires shall be one-twelfth (1/12) of the
	653	+	annual limit multiplied by the number of months the
	654	+	member is eligible to work and receive payments from
	655	+	the public schools of Oklahoma,
	656	+	e. earnings in excess of the maximum limit on allowed
	657	+	earnings from public schools of Oklahom a shall result
	658	+	in a loss of future retirement benefits for the year RBS No. 2448
	659	+
	660	+	ENGR. S. B. NO. 1520 Page 5 1
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	685	+	the postretirement employment was performed of One
	686	+	Dollar ($1.00) for each One Doll ar ($1.00) earned over
	687	+	the maximum allowed earnings amount, and
	688	+	f. for those members age seventy (70) yea rs and over, the
	689	+	earnings in excess of the maximum limit allowed
	690	+	earnings from public schools of Oklahoma shall be one -
	691	+	half (1/2) the member ’s final average salary used in
	692	+	computing retirement benefits. However, any retired
	693	+	member receiving benefits from the Retirement System
	694	+	who reached age seventy (70) years prior to July 1,
	695	+	1991, shall not be restricted by the earnings limits
	696	+	pursuant to this subpara graph until January 1, 1994.
	697	+	To qualify for the provisions of this subparagraph,
	698	+	the member must be empl oyed less than one-half (1/2)
	699	+	the time compared to other full -time employees in
	700	+	similar positions;
	701	+	3. Notwithstanding paragraph 2 of this subsection, a retired
	702	+	classified or nonclassified member who has been retired for thirty -
	703	+	six (36) or more months and who is employed by a public school to
	704	+	perform duties ordinarily performed by classified or nonclassified
	705	+	personnel shall be able to receive annualized earnings from the
	706	+	public school with no reduction in retirement benefits regardless of
	707	+	the amount of annualized earnings. For a period of three (3) years
	708	+	beginning July 1, 2017, members who have retired as of July 1, 2017, RBS No. 2448
	709	+
	710	+	ENGR. S. B. NO. 1520 Page 6 1
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	734	+
	735	+	as active classroom teachers, who have been retired and receiving a
	736	+	benefit for at least one (1) year, and who have not been employed by
	737	+	any public school during that one -year period, shall be eligible to
	738	+	be reemployed as an active classroom teacher in common or career
	739	+	tech school districts, with no limitations on earnings. For a
	740	+	period of three (3) years beginning July 1, 2021, members wh o have
	741	+	retired as of July 1, 2020, who have been retired and receiving a
	742	+	benefit for at least one (1) year, and who have not been employed by
	743	+	any public school during that one -year period, shall be eligible to
	744	+	be reemployed as an active classroom teacher i n common or career
	745	+	tech school districts, with no limitations on earnings. The one -
	746	+	year period starts with the retiree ’s last day of preretirement
	747	+	public education employment. Members returning under this section
	748	+	shall not be subject to any earning limitations earnings limitation
	749	+	following the end of the three -year periods described in this
	750	+	paragraph. Members returning under this section shall only be
	751	+	employed pursuant to a temporary contract; and
	752	+	4. A member shall be considered to be employed by a scho ol
	753	+	district to perform the duties ordinarily performed by classified or
	754	+	nonclassified personnel if the member is hired by the school
	755	+	district in the member’s individual capacity to perform the duties
	756	+	or if the member performs the duties through employment with a
	757	+	proprietorship, partnership, corporation, limited liability company RBS No. 2448
	758	+
	759	+	ENGR. S. B. NO. 1520 Page 7 1
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	783	+
	784	+	or partnership, or any other business structure that has agreed or
	785	+	contracted to provide the services to the school district.
	786	+	B. A public school district that employs a retired mem ber shall
	787	+	be required to make contributions to the System for the retired
	788	+	member in an amount as required in Section 17 -108.1 and in paragraph
	789	+	3 of subsection B of Section 17 -116.2 of this title.
	790	+	C. For purposes of this section, postretirement employment of
	791	+	less than one thousand (1,000) hours per year with the Governor, the
	792	+	State Senate, the House of Representatives or the Legislative
	793	+	Service Bureau shall not be considered as postretirement employment
	794	+	with a public school of Oklahoma.
	795	+	D. The Board of Tru stees of the Teachers’ Retirement System of
	796	+	Oklahoma shall promulgate such rules as are necessary to implement
	797	+	the provisions of this section.
	798	+	E. A member who has entered into postretirement employment with
	799	+	a participating employer of the Teachers ’ Retirement System of
	800	+	Oklahoma must fully comply with all the provisions of the rules
	801	+	promulgated by the Board of Trustees pursuant to this section in
	802	+	order to continue receiving his or her monthly retirement benefit.
	803	+	SECTION 5. This act shall be come effective July 1, 2024.
	804	+	SECTION 6. It being immediately necessary for the preservation
	805	+	of the public peace, health or safety, an emergency is hereby
	806	+	declared to exist, by reason whereof this act shall take effect and
	807	+	be in full force from and after its passage and approval. RBS No. 2448
	808	+
	809	+	ENGR. S. B. NO. 1520 Page 8 1
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	833	+
	834	+	Passed the Senate the 4th day of March, 2024.
	835	+
	836	+
	837	+
	838	+	Presiding Officer of the Senate
	839	+
	840	+
	841	+	Passed the House of Representatives the ____ day of __________,
	842	+	2024.
	843	+
	844	+
	845	+
	846	+	Presiding Officer of the House
	847	+	of Representatives
	848	+
	849	+