If I have 5 years of creditable service credit and terminate employment in Oklahoma public schools, must I withdraw my contributions? What options do I have concerning my account in the TRS?
No. Once you are vested (have 5 years of service credit) and you leave covered employment, your contributions may remain in the system. With as few as 5 years of Oklahoma contributory service you will be eligible for reduced monthly benefits at age 55, or unreduced benefits at age 62. You could be eligible for unreduced benefits when your age and total credited service equal 80 (providing you joined TRS prior to July 1, 1992) or when age and total service equal 90 (if your TRS membership date was after June 30, 1992). You would also have the option of withdrawing your retirement contributions and refundable interest upon termination of employment.
Related Questions
- If I have 5 years of creditable service credit and terminate employment in Oklahoma public schools, must I withdraw my contributions? What options do I have concerning my account in the TRS?
- I am a teacher in the public schools and I would like to know how a full year of service credit is calculated. Does summer school count?
- Why do some employees have state service credit that does not have associated dates of state employment?
