Oklahoma HB3332 establishes an optional defined contribution retirement plan for teachers hired on or after November 1, 2026.
Oklahoma HB3332, known as the Defined Contribution Retirement Plan for Teachers Act, creates an optional defined contribution retirement plan for teachers hired on or after November 1, 2026. The plan allows teachers to contribute 4.5% of their compensation, with an option to increase to 7.0%. Employers must match contributions up to 7.0% of the teacher's compensation. The Board of Trustees of the Teachers' Retirement System of Oklahoma will manage the plan, including investment options and participant education.
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