Okla. Admin. Code § 715:10-13-1

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

Section 715:10-13-1 - Regular annual compensation requirements

(a) Each member of the Teachers' Retirement System is required to make monthly contributions that are a set percentage of ''regular annual compensation.'' Regular annual compensation is defined as wages plus fringe benefits, excluding the flexible benefit allowance provided by 70 O.S. §26-105, and shall include payments as provided in 70 O.S. §17-116.2, subsection D.

(1) Wages and fringe benefits for retirement purposes are defined as payment for service the right to which accrues on a regular basis in proportion to the service performed.

(A) Payment for service performed shall include payment made for participation in or attendance of staff development, or payments for performance of assigned extra duties, and additional payments that are given across the board to qualifying members.

(B) Fringe benefits shall include employer-paid group health and disability insurance, group term life insurance, annuities and pension contributions and IRS Code Section 125 cafeteria benefits provided to all qualified members of the employer, which qualify as fringe benefits under the United States Internal Revenue Code. Provided, however, fringe benefits do not include the flexible benefit allowance provided by 70 O.S. §26-105.

(C) A qualified member is any eligible employee who is currently contributing to the System.

(2) Excluded from regular annual compensation are:

(A) employer contributions to a deferred compensation plan that is not provided to all qualified members of the employer,

(B) expense reimbursement payments; office, vehicle, housing or other maintenance allowances;

(C) the flexible benefit allowance provided pursuant to 70 O.S. §26-105;

(D) payment for unused vacation and sick leave;

(E) any payment made for reason of termination or retirement unrelated to service performed by the member;

(F) maintenance or other non-monetary compensation;

(G) payment received as an independent contractor or consultant pursuant to an agreement approved by TRS under OAC 715:10-17-5;

(H) any benefit payments not made pursuant to a valid employment agreement; stipends that are not given across the board to all employees;

(I) payment received for obtaining national board certification;

(J) compensation received from the Teacher Shortage Employment Incentive Program; and

(K) any payment that is not included within subsection 1 above.

(b) Contributions can only be remitted on actual wages and fringe benefits. No individual can contribute on unearned or non-existent compensation. Under no circumstances can members pay retirement contributions on more than they actually earn.

Okla. Admin. Code § 715:10-13-1

Amended at 10 Ok Reg 3879, eff 7-12-93; Amended at 16 Ok Reg 743, eff 10-5-98 through 7-14-99 (emergency)¹; Amended at 16 Ok Reg 3567, eff 9-13-99; Amended at 22 Ok Reg 2255, eff 6-25-05; Amended at 27 Ok Reg 1282, eff 5-27-10; Amended at 28 Ok Reg 981, eff 5-26-11; Revoked at 29 Ok Reg 854, eff 8-1-12

Adopted by Oklahome Register, Volume 33, Issue 23, August 15, 2016, eff. 8/25/2016

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

¹This emergency action expired before being superseded by a permanent action. Upon expiration of an emergency amendatory action, the last prior permanent text is reinstated. Therefore, on 7-15-99 (after the 7-14-99 expiration of the emergency action), the text of section 715:10-13-1 reverted back to the permanent text that became effective 7-12-93, as was last published in the 1996 Edition of the OAC, and remained as such until amended again by permanent action on 9-13-99.