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 retired members to be reemployed as active classroom teachers in common or career tech school districts without earnings limitations for a specified period, provided they meet certain criteria. Notably, the bill introduces a new provision that permits members who have been retired for at least ninety days to return to work with no earnings restrictions for three years following the effective date of the act. Additionally, it clarifies that a retired member must not have been employed by any public school during the one-year period prior to reemployment.

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 specifies that postretirement employment of less than 1,000 hours per year with certain governmental entities will not be considered postretirement employment with a public school. The act is set to take effect on July 1, 2025, and includes an emergency clause for immediate implementation upon passage and approval.