Okla. Admin. Code § 715:10-13-11

Current through Vol. 42, No. 7, December 16, 2024

Section 715:10-13-11 - Percentage limits on compensation increases

The average of a member's aggregate compensation for the last three creditable years of service before retirement may not exceed the credited compensation of the immediately preceding creditable year for service in the same or similar positions by more than 20%. When appropriate, Teachers' Retirement System may convert salary for part-time employment to its full-time equivalent in determining the permissible increases in annual compensation.

(1) Teachers' Retirement System will adjust a member's annual compensation at the time of retirement to comply with the limits of this rule and will refund excess deposits to the member after the effective date of retirement.

(2) Increases due to a change in employment responsibilities or adjustments in salary schedules for the employees of school district shall be excluded by TRS in determining if an employee exceeds the 20% level. TRS retains the right to require individuals and the employing school to provide documentation to satisfy questions that may arise from increases in compensation in excess of 20% for any school year.

Okla. Admin. Code § 715:10-13-11

Amended by Oklahoma Register, Volume 41, Issue 23, August 15, 2024, eff. 9/1/2024