Teacher's Retirement & General Retirement Info
Oklahoma Teachers Retirement System (OTRS)Oliver Hodge Education Building, 5th floor2500 North Lincoln Blvd, #500Oklahoma City, OK 73105Local phone: (405)521-2387Toll Free: (877)738-6365Mailing address:P.O. Box 53524Oklahoma City, OK 73152-3524OTRS Office Hours: Monday - Friday, 8:00 am - 5:00 pmStart your retirement paperwork here: OTRS Pre-Retirement Information Verification (PIV)
form . Complete and send the PIV form to OTRS. Note: you may print off verification of your current sick leave balance by logging into your EMPLOYEE PORTAL, click onto the LEAVES tab, and print your balance sheet.
New 2013 OTRS Client Handbook Helpful information for employees and retirees seeking information on their retirement options.
Q: What if I have started my retirement paperwork and I change my mind?A: If you change your mind about retiring AFTER you have started the retirement process, you will need to send a written statement to OTRS advising them you wish to cancel your retirement request. You have until the last business day BEFORE your effective date of retirement to notify them. Failure to do so will result in the completion of your retirement paperwork and you will be retired.OTRS LIFE INSURANCERemember to keep your *OTRS Enrollment/Beneficiary form up to date! All full-time employees completed this form as part of the hiring process. When certain events occur such as marriage, divorce, a *name change, birth of a child, and the death of a beneficiary, this form needs to be updated. In the event of an untimely death, OTRS pays eligible active employees an $18,000 death benefit. (This benefit is reduced to $5,000 for retirees.)* Name changes: employees must provide proof to the district Personnel Office that a legal name change has been completed with the social security office prior to turning in this form to the payroll office for a name change.Please return all completed Enrollment/Beneficiary forms to the Insurance Office at the ASC building.
Retaining or Electing benefits at Retirement/Separation
At retirement, you can elect to keep/drop/defer your benefits as a vested or non-vested member. If you have completed 10 years of service, you may be eligible to add health and dental at retirement even if you have never elected it before 30 days prior to retiring.Vest – An employee who has worked long enough to keep benefits, and who contributed to a retirement system, but who is not ready to retire or draw retirement benefits.
Non-Vest – An employee who has worked long enough to keep benefits, but who did not contribute to a retirement system.
Retiree– An employee who has worked long enough to retire and draw a retirement check. You may add health & dental coverage at retirement even if you never had it.Defer - You may choose to transfer (defer) your health, dental, and/or vision to your spouse's current active account with EGID until he/she retires or leaves their place of employment at which time you may choose to re-elect benefits. (benefit of this option might be tax-deferment).