Oklahoma Administrative Code › Title 715 - Teachers' Retirement System › Chapter 10 - General Operations › Subchapter 3 - Service Eligibility › Section 715:10-3-1 - Requirements for creditable service

Current through Vol. 41, No. 20, July 1, 2024
(a)
				All members of TRS must be employed a specified amount of time as related to
				their educational employment position, and earn a minimum salary, before
				creditable service will be awarded. A school\employment year typically falls
				between July 1 and June 30 of any year. No service performed as an unpaid
				volunteer shall be counted as service credit. For service performed on or after
				July 1, 2013, creditable service will be awarded based upon the information
				provided by each employer certifying full-time equivalent for each position,
				subject to approval by TRS. No member shall receive one (1) year of service
				credit for less than 960 hours of employment. (This does not mean that a member
				working 960 hours is automatically entitled to receive one (1) year of
				creditable service.) No more than one (1) year of creditable service shall be
				awarded for all service in any one (1) school year. For service performed on or
				after July 1, 2013, fractional service will be awarded for less than full-time
				employment performed during the contract year.
(b) For service performed from July 1, 2016,
				through June 30, 2019, service credit will be the result of the days the
				employee worked during the employment year divided by the number of days the
				full-time equivalent for that position would be required to work during the
				entire employment year. A member employed in a position where the full-time
				equivalent is required to work at least 6 hours per day, 30 hours per week, and
				8 months per year shall be considered a full-time employee.
(c) For service performed from July 1, 2016,
				through June 30, 2019, the fractional service credit awarded for part-time
				employment will be based on the number of hours the employee works per week
				divided by the number of hours the full-time equivalent for that position would
				be required to work per week. A member employed less than 6 hours per day, 30
				hours per week, or 8 months in a year shall be considered a part-time employee.
				If the employee works less days per week or employment year than the full-time
				equivalent, fractional service will also be awarded based on the number of days
				the employee works in the employment year divided by the number of days the
				full-time equivalent works during the employment year.
(d) For service performed on or after July 1,
				2019, the formula used to calculate service credit will be applied in the same
				manner for both full-time and part-time employment. The minimum requirement for
				full-time employment is 6 hours per day, 30 hours per week, and 8 months per
				year. Service credit will be reduced if the employee works less than the
				minimum requirement for full-time employment or less than the full-time
				equivalent for the position worked. Service credit will be calculated by
				multiplying the full-time equivalent percentage by the employment year
				percentage as follows:
(1) Full-time
				equivalent percentage is calculated by dividing the number of hours per week
				the member was employed by the number of hours per week for the full-time
				equivalent position.
(2)
				Employment year percentage is calculated by dividing the number of days the
				member was employed by the number of days required for the full-time equivalent
				position for the full employment year.