Teachers' Retirement System of Oklahoma; providing for benefits increase.

SB 174 increases retirement benefits for Oklahoma teachers currently receiving payments from the Teachers’ Retirement System as of June 30, 2025. It provides a 0% increase for retirees with less than two years of retirement, 2% for those retired two to five years, and 4% for retirees with five or more years of retirement as of that date. The bill directly affects current retirees based on their retirement duration, not new retirees. Benefits are calculated as of June 30, 2025, and apply to those continuing to receive payments after the law takes effect. The bill codifies this benefit structure into Oklahoma Statutes.