This bill amends the Teachers Retirement System of Oklahoma, specifically Section 17-116.10, to modify the regulations surrounding postretirement employment for retired teachers. It allows certain retired members to be reemployed as active classroom teachers in common or career tech school districts without earnings limitations for a specified period. The bill introduces new provisions that permit members who have been retired for at least one year and have not been employed by any public school during that time to return to work without restrictions on their earnings. Additionally, it establishes a new eligibility criterion for members who have been retired for at least 90 days, allowing them to be reemployed under similar conditions.

The bill also updates statutory language and references, requiring public school districts that employ retired members to contribute to the Teachers Retirement System of Oklahoma. It clarifies that postretirement employment with certain state entities will not be considered as employment with public schools, and it mandates compliance with rules set by the Board of Trustees of the Teachers Retirement System to maintain retirement benefits. The act is set to take effect on July 1, 2025, and includes an emergency clause for immediate implementation upon passage and approval.