Teachers' Retirement System of Oklahoma; allowing Board of Trustees to approve cost-of-living adjustment for certain retirees.

SB 88 amends Oklahoma's Teachers' Retirement System statute to allow the Board of Trustees to approve cost-of-living adjustments (COLAs) for certain retirees under specific circumstances. The bill does not specify which retirees or exact conditions for the COLA approval, only granting the Board discretion to authorize these adjustments. It modifies Section 17-106.1 of the law to include this authority while updating other statutory language to be gender-neutral. The change affects retirees whose benefits may receive COLAs based on the Board's approval, not automatic eligibility. This is a procedural adjustment to the Board's authority, not a new benefit mandate.