OTRS definition
Examples of OTRS in a sentence
Accumulated sick leave in excess of 120 days will be deposited in a retirement reserve account to be used for retirement purposes subject to approval of OTRS.
The percentage will be determined at the discretion of the Board and will not exceed 100% of the teachers’ OTRS contribution.
Since the retirement income supplement shall be based on the employee’s position and OTRS calculated average salary on the date of retirement, any salary increase which the employee might have received if the employee had elected to retire at full retirement age as defined by the Social Security Administration, or any different OTRS calculated salary resulting from inclusion of any time period after actual retirement shall not be considered when figuring the retirement income supplement.
Calculation of the retirement income supplement shall be based on the position and the OTRS calculated average salary of the employee at the time of retirement.
When per pupil funding (as calculated based on total state aid received by the school district) meets or exceeds $3,152.50 per pupil (2009 funding level), the District in addition to its required OTRS contribution, will pay a percentage of the teachers’ OTRS contribution to OTRS on the teachers’ behalf.
The district shall pay to the OTRS Fund an additional contribution as prescribed by state law.
The Board shall pay 100% of each teacher’s contribution to the Oklahoma Teachers’ Retirement System (OTRS) .
The Board shall pay 100% of each teacher’s contribution to the Oklahoma Teachers’ Retirement System (OTRS).
For teachers employed in the state of Oklahoma and members of OTRS prior to July 1, 1992, upon retirement, the District will report to the Oklahoma Teachers’ Retirement System up to one hundred and twenty (120) days the retiring teacher has earned in the District and/or transferred from another district.
The reimbursement is treated as compensation subject to the normal governmental withholding amounts (e.g., IRS, OTRS, and Social Security).