Oklahoma Teachers' Retirement Questions

When can I retire from OTRS?

Age 55 and vested (5 years) in OTRS (Reduced Benefits will apply)
Age 62 with at least 5 years of OTRS service credit
Rule of 80 (age plus years of OTRS service equals 80) for members who joined prior to 7/01/92
Rule of 90 (age plus years of OTRS service equals 90) for members who joined after 7/01/92

How much will I receive from OTRS?

Retirement income is based on your total compensation and whether your contributions were capped at a certain level. Contact the OTRS office to receive an estimate at (405) 521-2387.

Can I transfer years to/from another university or the state?

Yes. An active member of OTRS may receive credit for years of service accumulated as a member of the Oklahoma Public Employees Retirement System (OPERS). The member must be a contributing member of OTRS at the time of the application for the transfer. An active member of OPERS can transfer service credit from OTRS to OPERS. For a more detailed explanation of this process please reference pages 23 - 26 Teachers' Retirement System of Oklahoma Rules & Laws 1999-2000www.state.ok.us/~ok OTRS phone number 405-521-2387

As an OTRS retiree, do I receive health insurance benefits?

Employees who retire from the University of Oklahoma presently receive health benefits from the University. Employees retiring from OTRS without being eligible for University retirement can purchase OU insurance, paying some or all of the premium. A minimum of 10 years OU benefits-eligible experience is required to participate in the insurance plan.

If I have not participated in OTRS in prior years of working at OU, and then join OTRS, can I "buy back" the years in which I did not participate?

Yes, but these years will not apply to immediate vesting unless you were employed at the university before 7/1/91. You can buy back, for example, five years of non-participation which would count toward the rule of 90, but you would still need 5 complete years as an active member to vest. You must pay back what you would have contributed in those years, plus interest, plus the employer's contribution.