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The Oklahoma Public Employees Retirement System (OPERS) is an agency of the government of Oklahoma that manages the public pension system for majority of Oklahoma state employees. 74 Okla.Statutes §§901 et seq. The System provides pension benefits such as normal retirement, disability retirement, surviving spouse benefits and a death benefit.
Oklahoma Teacher's Retirement System (OTRS) is the pension program for public education employees in the State of Oklahoma. As of June 30, 2014, the program had nearly 168,000 members. [ 1 ] Public education teachers and administrators are required to be OTRS members; support staff can join voluntarily. [ 1 ]
The new law contained a 1 percent tax on insurance premiums to fund the pension benefits for both paid and volunteer firefighters. Oklahoma cities and towns administered the program until the Oklahoma Legislature created the current System in 1980.
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This tax goes towards funding Medicare. If you are self-employed, you’re responsible for the entire FICA tax, meaning you pay both the employee and employer share, totaling 12.4 percent for ...
The Oklahoma Police Pension and Retirement System (OPPRS) is an agency of the government of Oklahoma that manages the public pension system for municipal police officers in Oklahoma. The System provides pension benefits such as normal retirement, disability retirement, surviving spouse benefits and a death benefit.
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Recent Census Bureau survey data indicate that Oklahoma workers who have completed the equivalent of a two-year program with a vocational or occupational emphasis earned 20 percent more than workers with only high school diplomas the past two decades. These income gains can in turn contribute significantly to the overall level of income statewide.