{"data":{"id":"us-ok/okla.-stat.-tit.-47-47-2-301","jurisdiction":"us-ok","citation":"Okla. Stat. tit. 47, § 47-2-301","heading":"Establishment - Law Enforcement Retirement Fund -","body":"Retirement Medical Benefit Fund - Right to benefits.\n\nThere is hereby established a System for the payment of\n\nretirement benefits and certain medical and hospital expenses of\n\nmembers of the Oklahoma Law Enforcement Retirement System.\n\nEffective July 1, 2014, the System intends to satisfy Section 401(a)\n\nof the Internal Revenue Code of 1986, as amended from time to time,\n\nby meeting the requirements of Section 414(d) of the Internal\n\nRevenue Code of 1986, as amended from time to time. Such System\n\nshall constitute an amendment and continuation of the Retirement and\n\nPension Plan of the Department of Public Safety and members in the\n\nRetirement and Pension Plan on June 30, 1980, shall continue as\n\nmembers of the Oklahoma Law Enforcement Retirement System. There is\n\nestablished in the State Treasury a special fund designated as the\n\n\"Oklahoma Law Enforcement Retirement Fund\" for the benefit of\n\nmembers of the System and certain dependents of deceased members of\n\nthe System. Such fund shall be a continuation, under a new name, of\n\nthe Retirement and Pension Fund of the Department of Public Safety.\n\nThere is hereby created the Retirement Medical Benefit Fund.\n\nThe fund shall be maintained as a subaccount of the Oklahoma Law\n\nEnforcement Retirement Fund. The Retirement Medical Benefit Fund is\n\ncomposed of all assets which may be contributed to this subaccount\n\nto pay the retirement system's portion of the monthly retiree health\n\ninsurance premium benefit described by Section 1316.2 of Title 74 of\n\nthe Oklahoma Statutes. Such monthly retiree health insurance\n\npremium benefit is in addition to, and subordinate to, the\n\nretirement benefits provided by this System. All such allocated\n\nassets and any earnings thereon in the Retirement Medical Benefit\n\nFund shall be held for the exclusive purpose of providing retiree\n\nmedical benefits. The Retirement Medical Benefit Fund is to be\n\nadministered in accordance with the requirements of Section 401(h)\n\nof the Internal Revenue Code of 1986, as amended from time to time.\n\nIt shall be impossible, at any time prior to the satisfaction of all\n\nliabilities for these benefits, for any part of this subaccount to\n\nbe used for or diverted to, any purpose other than the providing of\n\nthe retiree health insurance premium benefit and the payment of\n\nnecessary and appropriate related expenses. Notwithstanding the\n\nprovisions of Section 401(a)(2) of the Internal Revenue Code of\n\n1986, as amended from time to time, effective July 1, 2014, upon the\n\nsatisfaction of all liabilities under the Oklahoma Law Enforcement\n\nRetirement System to provide Section 401(h) medical benefits, any\n\namount remaining in such separate subaccount must be returned to the\n\nemployer. Effective July 1, 2014, in the event an individual's\n\ninterest in the medical benefits subaccount is forfeited prior to\n\nthe termination of the Oklahoma Law Enforcement Retirement System,\n\nan amount equal to the amount of the forfeiture must be applied as\n\nsoon as possible to reduce employer contributions to fund the\n\nmedical benefits described in Section 401(h). The Board of Trustees\n\nmay promulgate such rules as are necessary to implement the funding\n\nand administration of the fund pursuant to the provisions of this\n\nsubsection. All contributions to fund the retiree health insurance\n\nbenefit shall be made on the basis of a generally accepted actuarial\n\nmethod. Notwithstanding anything contained herein to the contrary,\n\nthe aggregate of contributions to provide retiree health insurance\n\nbenefits and life insurance, if any, shall not exceed twenty-five\n\npercent (25%) of the aggregate contributions made to fund all\n\nbenefits under this System, other than contributions to fund past\n\nservice costs. For this purpose, \"life insurance\" means, as to any\n\nmember, the in-service death benefit that would be payable upon the\n\nmember's death, but only to the extent that the lump-sum value of\nbenefits and life insurance, if any, shall not exceed twenty-five\n\npercent (25%) of the aggregate contributions made to fund all\n\nbenefits under this System, other than contributions to fund past\n\nservice costs. For this purpose, \"life insurance\" means, as to any\n\nmember, the in-service death benefit that would be payable upon the\n\nmember's death, but only to the extent that the lump-sum value of\n\nsuch death benefit would exceed the lump-sum value of the member's\n\naccrued benefit at the date of the member's death.\n\nAppointment to any position within a covered agency which comes\n\nunder this System shall not jeopardize the rights of any person who\n\nhas previously qualified for membership under this System, provided\n\nthat the individual contributions are continued, and such person\n\nremains a member of this System. Any person who has previously\n\nqualified for membership under the System who voluntarily seeks and\n\naccepts appointment to any position within a covered agency which is\n\nnot a covered position excludes the member from further\n\nparticipation in this System; provided, this provision shall not\n\napply to any person who is a member of the System and who, on or\n\nbefore June 30, 2002, has already accepted appointment to a position\n\nwhich is not a covered position of the System nor shall it apply if\n\nthat person seeks and accepts any other position within a covered\n\nagency which is not a covered position of the System.","path":["OK Code","Title 47"],"source_url":"https://www.oklegislature.gov/OK_Statutes/CompleteTitles/os47.pdf","current_through":"2026-08-14","vintage":"open-us-law v2026.08, retrieved 2026-09-14","retrieved_at":"2026-09-14T18:32:36Z","sha256":"700bbb44e776b2463536bf4faaebf01fb5d4f8f3396736771d931b97b6ddfb87","source_id":"us-ok","stale":false,"prev":"us-ok/okla.-stat.-tit.-47-47-2-300","next":"us-ok/okla.-stat.-tit.-47-47-2-301.1"},"notice":"GroundRules: Original legal text. Not legal advice."}