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§ 17-116.19. Increase in benefits--July 1, 2004

Oklahoma Statutes AnnotatedTitle 70. Schools

Oklahoma Statutes Annotated
Title 70. Schools (Refs & Annos)
Division I. School Code of 1971
Chapter 1. School Code of 1971
Article XVII. Teachers' Retirement System (Refs & Annos)
70 Okl.St.Ann. § 17-116.19
§ 17-116.19. Increase in benefits--July 1, 2004
Currentness
A. Beginning July 1, 2004, any person receiving benefits from the Teacher's Retirement System of Oklahoma as of June 30, 2003, who continues to receive benefits on or after July 1, 2004, shall receive a percentage increase in said benefits on July 1, 2004, as follows:
Years of Service
Monthly Benefit
of the Retired Member
as of June 30, 2004
Benefit Increase
20 years or more
Less than $1,500.00
4.5%
$1,500.00 to $2,500.00
4.0%
Over $2,500.00
3.5%
15 to 19 years
Less than $1,000.00
4.0%
$1,000.00 to $2,000.00
3.5%
Greater than $2,000.00
3.0%
Less than 15 years
Less than $801.00
3.5%
$801.00 to $1,499.99
3.0%
$1,500.00 or greater
2.5%
B. Beginning in July 2004, those individuals receiving benefits pursuant to subsection (3) of Section 17-105 of Title 70 of the Oklahoma Statutes whose benefits commenced prior to July 1, 2003, shall receive an increase in benefits of four percent (4%).

Credits

Laws 2004, c. 536, § 20, eff. July 1, 2004.
70 Okl. St. Ann. § 17-116.19, OK ST T. 70 § 17-116.19
Current with emergency effective legislation through Chapter 378 of the Second Regular Session of the 59th Legislature (2024). Some sections may be more current, see credits for details.
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