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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 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.
Earlier this year the Oklahoma Rural Association (ORA) released a study that found the unintended consequences of that law were severe. It raised borrowing costs for municipalities, adding an ...
In another study, Equable Institute found that the total lifetime value of teacher pension benefits have declined by $100,000 on average (13%) since 2005. A teacher hired for the 2005 school year can expect to earn $768,000 in retirement benefits, where as a teacher hired for the 2023 school year can expect to earn $668,000. [19
According to the state Education Department, more than half of Oklahoma’s teachers are 32 to 53 years old, and less than 20% are 31 years old or younger. In short, the Oklahoma teacher workforce ...
The National Council on Teacher Quality (NCTQ) issued its annual State Teacher Policy Yearbook, in which its claims "teacher pension systems in the United States have almost $325 billion in ...
The State Pension Commission provides guidance to the Governor of Oklahoma and the Oklahoma Legislature concerning the state's public retirement systems, including identifying problems and areas of abuse, projecting costs of existing systems and modifications to those systems, and recommending pension reform programs. Funding for the Commission ...
Teacher turnover hit its highest point since the pandemic last school year, when more than 6,000 Oklahoma public school teachers left the classroom.. The crush of school departures occurred even ...