Okla. Admin. Code § 715:10-17-6

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

Section 715:10-17-6 - Earnings limits

(a) The earnings limit for the calendar year in which a member retires shall be one-twelfth (1/12) of the annual limit multiplied by the number of months the member is eligible to work and receive payments from the public schools of Oklahoma.

(b) Earnings from the public schools may not exceed one-half (1/2) of the member's final average salary used in computing retirement benefits, or the Earnings Limitation for employees allowed by the Social Security Administration, whichever is less. For retired members under the age of sixty-two (62) years, the limit on allowed earnings shall be the lesser of Fifteen Thousand Dollars ($15,000.00) or one-half (1/2) of the member's final average salary used in computing retirement benefits unless the earnings limitation allowed by the Social Security Administration would be greater than Fifteen Thousand Dollars ($15,000.00). For retired members sixty-two (62) years of age or older the limit on allowed earnings shall be the lesser of Thirty Thousand Dollars ($30,000.00) or one-half (1/2) of the member's final average salary used in computing retirement benefits.

(c) Earnings in excess of the maximum limit on allowed earnings from public schools of Oklahoma shall result in a loss of future retirement benefits, not to exceed the amount of the monthly benefits, for the year the postretirement employment was performed of One Dollar ($1.00) for each One Dollar ($1.00) earned over the maximum allowed earnings amount. All other limitations on post-retirement earnings shall be administered as directed in Title 70, Oklahoma Statutes, Section 17-116.10 [70 O.S. 17-116.10].

Okla. Admin. Code § 715:10-17-6

Amended at 10 Ok Reg 3879, eff 7-12-93 ; Amended at 11 Ok Reg 4785, eff 9-12-94 through 7-14-95 (emergency) ¹ ; Amended at 12 Ok Reg 3285, eff 7-27-95 ; Amended at 15 Ok Reg 48, eff 9-4-97 (emergency); Amended at 15 Ok Reg 3481, eff 7-15-98 ; Amended at 17 Ok Reg 204, eff 9-8-99 (emergency); Amended at 17 Ok Reg 3071, eff 7-13-00 ; Amended at 18 Ok Reg 50, eff 10-3-00 (emergency); Amended at 18 Ok Reg 3152, eff 7-12-01 ; Amended at 19 Ok Reg 2729, eff 7-11-02 ; Amended at 20 Ok Reg 384, eff 12-9-02 (emergency); Amended at 20 Ok Reg 2596, eff 7-11-03 ; Amended at 21 Ok Reg 3091, eff 8-21-03 through 7-14-04 (emergency) ² ; Amended at 21 Ok Reg 3099, eff 8-12-04 ; Amended at 28 Ok Reg 981, eff 5-26-11 ; Amended at 29 Ok Reg 854, eff 8-1-12 ; Amended at 30 Ok Reg 73, eff 9-25-12 (emergency); Amended at 30 Ok Reg 1481, eff 7-1-13

Amended by Oklahoma Register, Volume 35, Issue 24, September 4, 2018, eff. 9/14/2018

¹ This 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 7-15-95 (after the 7-14-95 expiration of the emergency action), the text of section 715:10-17-6 reverted back to the permanent text that became effective 7-12-93, and remained as such until amended by permanent rulemaking on 7-27-95.

² This 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 7-15-04 (after the 7-14-04 expiration of the emergency action), the text of section 715:10-17-6 reverted back to the permanent text that became effective 7-11-03, as was last published in the 2003 OAC Supplement, and remained as such until amended by permanent rulemaking on 8-12-04.