House Bill No. 2288 amends the Teachers' Retirement System of Oklahoma, specifically addressing postretirement employment for retired members. The bill modifies existing provisions regarding earning limitations, allowing retired members to receive earnings without a reduction in their retirement benefits. It removes the previous requirement that limited earnings for retired members under the age of sixty-two and those sixty-two and older, which was based on their final average salary or a set dollar amount. Instead, the bill stipulates that retired classified or nonclassified members employed by public schools can earn annualized income without any restrictions on the amount.

Additionally, the bill clarifies that a retired member can be employed by a school district to perform duties typically associated with classified or nonclassified personnel, whether directly or through a business entity. It mandates that public school districts employing retired members must contribute to the Teachers' Retirement System as required by existing law. The act is set to take effect on July 1, 2025, and includes an emergency clause for immediate implementation upon passage and approval.

Statutes affected:
House Committee Substitute: 62-3103
Floor (House): 62-3103
Floor (Senate): 62-3103
Engrossed: 62-3103