Okla. Stat. tit. 47, § 47-2-307.2: Service credit for unused sick leave - Prorated

service credit for sick or temporary disability time - Option to

purchase service credit.

A. The total service credit of a member who retires, elects a

Deferred Option Plan or terminates employment and elects a vested

benefit shall include not to exceed one hundred thirty (130) days of

unused sick leave accumulated while a member of the System.

Effective July 1, 2008, a member who retires, elects a Deferred

Option Plan or terminates employment and elects a vested benefit

shall include not to exceed two hundred forty (240) days of unused

sick leave accumulated while a member of the System. Such credit

shall be added in terms of whole months. Twenty (20) days of unused

sick leave shall equal one (1) month for purposes of service credit.

If unused sick leave entitles a member to an additional year or

fraction thereof of service credit, the member's employer shall

reimburse the System for the cost of funding the additional reserve

by paying the amount determined by the Board pursuant to Section 25

of this act. Each employer shall provide the System with adequate

and timely information necessary to determine additional benefits

and its cost under this section. This section shall apply to

members retiring or vesting on or after July 1, 1985, and shall not

be retroactive. The amount of accrued sick leave available for

determination of a member's monthly benefit for purposes of the

deferred option election shall be limited to the accrued sick leave

available as of the effective date of the deferred option election,

but not to exceed two hundred forty (240) days. The member's

monthly benefit determined as of the effective date of the deferred

option election shall not be adjusted for additional accrued sick

leave earned by the member after the deferred option election.

B. Whenever any member is unable to perform the member's duties

because of sickness or temporary disability caused or sustained

while in the discharge of the member's duty as a member, is

receiving a temporary total disability benefit under Section 1 et

seq. of Title 85A of the Oklahoma Statutes, and does not purchase

service credit as described below, such member shall only receive

prorated service credit based on the contributions made by the

member and the member's employer while the member is receiving a

temporary total disability benefit under Section 1 et seq. of Title

85A of the Oklahoma Statutes. Whenever any member is unable to

perform the member's duties because of sickness or temporary

disability caused or sustained while in the discharge of the

member's duty as a member and is receiving a temporary disability

benefit under Section 1 et seq. of Title 85A of the Oklahoma

Statutes, such member shall have the option to purchase service

credit for the time related to such leave of absence for such

sickness or temporary disability.

1. The payment for such purchase must be completed no later

than three (3) years from the date the member commenced receipt of a

temporary total disability benefit.

2. The purchase price shall be:

a. the actual paid base salary that the member was

entitled to immediately prior to the member's sickness

or temporary disability minus any vacation or sick

leave payments received by the member during such

sickness or temporary disability, multiplied by,

b. the following, as applicable:

(1) the combined employer and member contribution

percentages, pursuant to Section 2-304 of this

title, for members who are suspended without pay,

or

ness

or temporary disability minus any vacation or sick

leave payments received by the member during such

sickness or temporary disability, multiplied by,

b. the following, as applicable:

(1) the combined employer and member contribution

percentages, pursuant to Section 2-304 of this

title, for members who are suspended without pay,

or

(2) the member contribution percentage, pursuant to

Section 2-304 of this title, for members who are

not suspended without pay.

If such member has not been suspended without pay, the employer

shall contribute, within three (3) months of the completion of the

member's purchase of service credit, the employer contribution

percentage, pursuant to Section 2-304 of this title, times the

actual paid base salary that the member was entitled to immediately

prior to the member's sickness or temporary disability minus any

vacation or sick leave payments received by the member during such

sickness or temporary disability.

3. The member may purchase such service credit through:

a. a cash lump-sum payment,

b. a trustee-to-trustee transfer of non-Roth 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(e)(1)(A),

and/or a Code Section 401(a) qualified plan,

c. 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(e)(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

d. any combination of the above methods of payment.