2021 Oklahoma Statutes
Title 70. Schools
§70-17-116.22. Increase in benefits – July 1, 2020 - Offset.
A. Any person receiving benefits from the Teachers' Retirement System of Oklahoma as of June 30, 2019, other than those benefits specified in subsection B of this section, who continues to receive benefits on or after July 1, 2020, shall receive an increase in benefits as follows:
1. Zero percent (0%) if the person has been retired for less than two (2) years as of July 1, 2020;
2. Two percent (2%) if the person has been retired for at least two (2) years but less than five (5) years as of July 1, 2020; and
3. Four percent (4%) if the person has been retired for five (5) years or more as of July 1, 2020.
B. Any person receiving benefits pursuant to subsection (3) of Section 17-105 of Title 70 of the Oklahoma Statutes whose benefits commenced prior to July 1, 2020, and who continues to receive benefits on or after July 1, 2020, shall receive an increase in benefits as follows:
1. Zero percent (0%) if the person has been retired for less than two (2) years as of July 1, 2020;
2. Two percent (2%) if the person has been retired for at least two (2) years but less than five (5) years as of July 1, 2020; and
3. Four percent (4%) if the person has been retired for five (5) years or more as of July 1, 2020.
Added by Laws 2020, c. 121, § 6, eff. July 1, 2020.
