4005 Retirement Contribution

The Board of Education shall “pick up” or assume all retirement contributions made by district employees to enable the retirement contribution to be paid “pretax” to the regular retirement plan of the Teachers’ Retirement System of Oklahoma, rendering that contribution exempt from current federal and state income taxes under current law. F.I.C.A. taxes shall be withheld on such contributions. The salary of district employees shall be reduced by the amount of the employee contributions picked up by the district, except for employees for whom the Board of Education has authorized district-paid retirement as per the schedule maintained in the Human Resources Department. The Board of Education reserves the right to modify or terminate the pick-up program at any time, subject to the provisions of any negotiated agreement to which the Board of Education may be a party or the contract maintained in the Human Resources Department. The district will pay teachers’ retirement contributions as agreed upon in UCTA 4005.

Teachers’ Retirement System (TRS) provides an online client portal (https://myotrs.trs.ok.gov). Employees are responsible for reviewing the TRS information and immediately notifying both the TRS system and the district of any possible errors.

Revised 6/10/96                                                                                                                                                          UCTA 4005

Revised 12/14/98

Revised 12/13/99

Revised 1/8/01

Revised 12/10/07

Revised 1/18/10

Revised 12/11/17

Revised 12/14/2020