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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.
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
House Bill 3454, authored by Rep. Anthony Moore, R-Clinton, would expand Oklahoma's Promise eligibility to children of certified, full-time teachers who have been employed by a public-school ...
Walters announced the bonus program in April, one of his first major policy initiatives. In all, 951 teachers applied for bonuses, and 522 received amounts ranging from $15,000 to $50,000.
As reported by the Oklahoma State Department of Education in its 2021 Oklahoma Educator Supply and Demand Report, about 45,051 teachers are employed in the state.
Oklahoma State Department of Education - $52.4 million annualized funding for teacher health benefits and National Board Certified Teacher bonuses; Oklahoma Department of Career and Technology Education - $1.4 million annualized funding for operations, matching an FY 2012 supplemental measure; Oklahoma State Regents for Higher Education -
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 ...