Okla. Stat. tit. 47, § 47-2-307.1: Service credit for membership in Public Employees

Retirement System - Time of application.

A. A member may receive service credit for not to exceed five

(5) years of participating service accumulated by the member while

an employee of a state agency if the member is not receiving or

eligible to receive retirement benefits or credit for said service

from the Oklahoma Public Employees Retirement System. To receive

credit for said service prior to January 1, 1991, the employee and

employer contributions for those years of service and interest of

not to exceed five percent (5%) as determined by the Board shall be

paid to the Board. Effective January 1, 1991, to receive credit for

said service, the member shall pay the amount determined by the

Board of Trustees pursuant to Section 19 of Enrolled Senate Bill No.

810 of the 2nd Session of the 42nd Oklahoma Legislature. Such

service credit shall not be used in determining the eligibility of

the member for retirement based upon length of service.

B. To receive credit for such service:

1. A member who became a member of the system prior to July 1,

1988, shall make application to the Board for such service prior to

January 1, 1989; and

2. A member who becomes a member of the system after June 30,

1988, shall make application to the Board for such service within

two (2) years of the date the member became a member of the system.

C. Such service credit may be paid by:

1. A cash lump-sum payment;

2. A trustee-to-trustee transfer of non-Roth funds from a

Section 403(b) annuity or custodial account, an eligible deferred

compensation plan described in Section 457(b) which is maintained by

an eligible employer described in Code Section 457(e)(1)(A), and/or

a Code Section 401(a) qualified plan;

3. A direct rollover of tax-deferred funds from a Code Section

403(b) annuity or custodial account, an eligible deferred

compensation plan described in Code Section 457(b) which is

maintained by an eligible employer described in Code Section

457(3)(1)(A), a Code Section 401(a) qualified plan, and/or a Code

Section 408(a) or 408(b) traditional or conduit Individual

Retirement Account or Annuity (IRA). Roth accounts, Coverdell

Education Savings Accounts and after-tax contributions shall not be

used to purchase such service credit; or

4. Any combination of the above methods of payment.