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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.
Oklahoma’s graduated state income tax rate, ranging from 0.25% to 4.75%, applies to retirement income. But residents can subtract up to $10,000 of their taxable retirement income . The state ...
The insurance tax is collected by the Oklahoma Insurance Department. While most of the insurance tax is deposited within the General Fund, the revenues also support the Insurance Department and provide revenues for the State's employee retirement systems. Insurance premium taxes account for approximately 2% of total state revenue.
Tax returns for federal and Oklahoma state income taxes are due April 15. To file for an extension, taxpayers can fill out Form 4868 by April 15, giving you six more months to complete your tax ...
While teacher employment numbers are relatively consistent, the state Education Department reported that the number of teachers leaving the profession due to retirement was unexpectedly higher, by ...
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