Oklahoma Teachers Retirement System (OTRS)

 

Oklahoma Teachers' Retirement System Information and Forms

Northeastern State University offers retirement plans through the Oklahoma Teachers' Retirement System (OTRS). OTRS is required for Exempt employees and it is optional for Non-Exempt employees. Members are required to contribute 7% of the first $25,000 of annual salary plus benefits each fiscal year.  The University contributes 7% of salary and benefits over $25,000.  Maximum contribution for employee will be $145.83 per month for Exempt or $67.31 for Non-Exempt each Bi-weekly paycheck for a total of $1750 each year (July – June).  The number of years to “vest” and become eligible for a TRS pension is 7 years effective 11/1/17. Benefit amounts are calculated on a combination of average salary and years of service. There is also an $18,000 Death benefit as an active member. Please use the forms below to indicate whether you elect to participate, provide necessary information for participation, and designate beneficiaries of your retirement plan.

For more information, please visit the website for the Oklahoma Teachers' Retirement System.

UPDATE: Effective July 1, 2021

Oklahoma State Bill 683 (Optional Personnel Membership in TRS) was signed by Governor Stitt on May
7, 2021 goes into effect July 1, 2021. This new law modifies eligibility requirements related to” non-
classified (non-exempt, biweekly paid employees), optional employee membership” with the Teachers
Retirement System (TRS) of Oklahoma.
Optional membership in TRS is only available to individuals regularly employed for 20 hours or more per
week. Supplemental employees such as; temporary, seasonal, adjunct, student work study and
graduate student employees are not eligible for membership. This does not apply to employees in full
time exempt positions considered classified positions with TRS. A summary of the new rules along
with questions and answers are available at: https://oklahoma.gov/trs/about-us/frequently-asked-
questions.html

Dogwood blooms