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We are pleased to announce that our office has moved to a new location. Our new address is: 301 NW 63rd Street, Suite 500 Oklahoma City, OK 73116-7921

 

Important Notice Regarding Covid-19 - To ensure the safety and protection of our members, as well as our staff, the Teachers’ Retirement System of Oklahoma is suspending all in-house appointments and consultations at this time. This is effective March 17, 2020 until further notice. The Drop Box for submitting documents located on the west side of the Will Rogers Building by the State Capitol building is no longer for TRS use. Please mail documents, or for urgent situations, you can drop off documents at the TRS office. Please note we are still not open for in-person meetings.

Post-Retirement Employment

Some current members and recent retirees have contacted TRS to ask if the increases in the salary schedules in HB 1023XX that were passed by the Legislature and signed by the Governor, will affect any applicable salary caps that apply to retirees who return to work. The short answer is “no” but this is a good time to talk about options.

HB 1023XX has had an impact on retirees and retirement decisions to be sure. We have not kept statistics, but clearly the increases in salary have led to many of our members putting off their retirements. The increase in salary helps their current income and certainly will increase their retirement benefit. Working more years at higher salaries will increase our members’ pension income.

A second impact is that many retirees have suspended their retirement benefit and have decided to come back to work to take advantage of the salary increase. There may not be a lot of our members who have done this, but they are also increasing their current income and it will have some impact on their retirement benefits. For these retirees, their original benefit calculation doesn’t change, however we will add individual yearly amounts based on the higher salary. The member doesn’t have all of their years in their career recalculated at the higher salary, but the pension benefit will go up.

But if you are retired, don’t want to stop your benefit, but want to come back to work, the general salary limitations will apply to you. See general provisions by clicking here. Also, don’t forget that if you retired on or before July 1, 2017, you “may” be eligible to come back to work without salary caps under SB 428 passed in 2017. To see if you fit these requirements, please click here.

Last Modified on Nov 10, 2020