Teacher Retirement
TEACHER'S RETIREMENT & GENERAL RETIREMENT INFO
Oklahoma Teachers Retirement System (OTRS)
Address: Oliver Hodge Education Building, 5th floor
2500 North Lincoln Blvd, #500
Oklahoma City, OK 73105
Phone: 405-521-2387
Toll Free: 877-738-6365
Mailing address:
P.O. Box 53524
Oklahoma City, OK 73152-3524
OTRS Office Hours:
Monday - Friday, 8 a.m. - 5 p.m.
Start 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, clicking on the LEAVES tab, and printing your balance sheet.
Access the Oklahoma Teacher Retirement website for all forms and timelines to guide you through the retirement process.
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. Call OTRS with any questions you have about the process: 405-521-2387
OTRS LIFE INSURANCE
Remember to keep your OTRS Non-Retired Beneficiary form up to date! 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.
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, dental and vision at retirement even if you have never elected it before 30 days prior to retiring.
Vested – An employee who has contributed into the retirement system for seven years but is not ready to retire or draw retirement benefits.
Non-Vested – An employee who has worked 10 or more years is eligible to keep insurance benefits even if they 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 and vision 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.
The State of Oklahoma only gives former employees 30 days after termination to elect benefits, and once that date passes, you will not be allowed to pick up benefits unless you return to work for three years and are eligible to re-elect benefits!
*Find Insurance Premiums on the EGID website, here.