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2002 Legislation
| HB 1660 (pdf 479kb) | Service Credits Purchased Through Rollovers Allows TRS members to purchase service credit with rollover from another qualified 403(b) or 457(b) plan. |
| Status: Governor signed 6/4/2002 | |
| Effective:7/1/2001 | |
| HB 1719 (pdf 1.4mb) | TRS Annual Report Requirements Lists information required to be included in appendix to TRS Annual Report. |
| Status: Governor signed 6/5/2002 | |
| Effective:7/1/2002 | |
| HB 2344 (pdf 121kb) | Post-Retirement Earnings Limits Amends 70 O.S., Section 17-116.10. (1) Limits post-retirement earnings for retirees under age 62 years to $15,000 or half final average salary, whichever is less, during the first 36 months after retirement (2) Limits post-retirement earnings for retirees age 62 or older to $30,000 or half final average salary for the first 36 months after retirement (3) Allows classified members who have been retired for 36 months or more to earn up to $30,000 (4) Extends post-retirement earnings limits to members who are hired to work for schools through corporations. |
| Status: Governor signed 5/6/2002 | |
| Effective:7/1/2002 | |
| HB 2383 (pdf 275kb) | Treating Death Benefit as Life Insurance Proceeds for IRS Purposes Requires TRS to request Private Letter Ruling from IRS regarding treatment of TRS death benefit as life insurance proceeds. |
| Status: Governor signed 5/31/2002 | |
| Effective:7/1/2002 | |
| HB 2670 (pdf 197kb) | TRS Membership by Officers of Education Association Allows a TRS member, who has been participating in TRS while employed by an education association to retire when eligible. |
| Status: Governor signed 6/5/2002 | |
| Effective:7/1/2002 | |
| SB 1231 (pdf 79kb) | COLA Members retired before July 1, 2001 will receive a three percent increase if they retired with less than 30 years credited service and a 4 percent increase if they retired with more than 30 years credited service. |
| Status: Governor signed 6/6/2002 | |
| Effective:7/1/2002 | |
| SB 1376 (pdf 524kb) | Appropriations Bill Increases TRS apportionment. |
| Status: Governor signed 6/6/2002 | |
| Effective:7/1/2002 | |
| SB 1456 (pdf 345kb) | Transfer of Service Credit from OPERS to TRS by Former TRS Members Elected to State Legislature or Appointed to Education-Related Capacity in Executive Branch Allows former TRS members who could have remained TRS members but joined OPERS after being elected to the State Legislature or appointed to the executive branch in an education-related capacity, to make an irrevocable written election to transfer from OPERS to TRS within 18 months of joining OPERS. Requires TRS to calculate the difference between the employer and employee contributions transferred by OPERS and the employer and employee contributions that would have been paid to TRS if her or she had remained a TRS member. The employer will pay TRS the difference in employer contributions, plus 10 percent interest per year. The transferring member will pay TRS the difference in employee contributions, plus 10 percent interest per year. The member's employer may pay the employee's contributions and interest. If the employee transfers service credit from OPERS to TRS, all OPERS service credit accrued during the 18-month period will be cancelled once the service is transferred. |
| Status: Governor signed 6/5/2002 | |
| Effective:7/1/2002 |
Proposal to Increase State Contributions (pdf 51kb)
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