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HB3332

Retirement; Defined Contribution Retirement Plan for Teachers Act; trust; plan assets; Teachers' Retirement System of Oklahoma; certified personnel; election; defined benefit plan; service credit; terms; Board of Trustees; operating plan document; duties; policies; competitive bid process; contract; report; contribution rate; participants; employers; vesting; individual account; investment menu; alternative distribution forms; surviving spouse or beneficiary; minimum salary schedule; codification; effective date.

Introduced·2/2/26
Int Text

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.

Included in complete analysis

  • Overview
  • Core Provisions
  • Implementation
  • Impact
  • Legal Framework
  • Critical Issues

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Where it stands

Current
Rules Committee
Next
Committee decision

Sponsors

0
1
R
Democratic CaucusRepublican Caucus

History

Feb 3

House

Second Reading referred to Rules

Feb 2

House

First Reading

Feb 2

House

Authored by Representative Hays