A. Beginning July 1, 2004, any person receiving benefits from the Teacher’s Retirement System of Oklahoma as of June 30, 2003, who continues to receive benefits on or after July 1, 2004, shall receive a percentage increase in said benefits on July 1, 2004, as follows:
of the Retired Memberas of June 30, 2004Benefit Increase
20 years or moreLess than $1,500.004.5%
$1,500.00 to $2,500.004.0%
Over $2,500.003.5%
15 to 19 yearsLess than $1,000.004.0%
$1,000.00 to $2,000.003.5%
Greater than $2,000.003.0%
Less than 15 yearsLess than $801.003.5%
$801.00 to $1,499.993.0%
$1,500.00 or greater2.5%
B. Beginning in July 2004, those individuals receiving benefits pursuant to subsection (3) of Section 17-105 of Title 70 of the Oklahoma Statutes whose benefits commenced prior to July 1, 2003, shall receive an increase in benefits of four percent (4%).
Added by Laws 2004, c. 536, § 20, eff. July 1, 2004.