{"data":{"id":"us-ok/okla.-stat.-tit.-47-47-2-307.1","jurisdiction":"us-ok","citation":"Okla. Stat. tit. 47, § 47-2-307.1","heading":"Service credit for membership in Public Employees","body":"Retirement System - Time of application.\n\nA. A member may receive service credit for not to exceed five\n\n(5) years of participating service accumulated by the member while\n\nan employee of a state agency if the member is not receiving or\n\neligible to receive retirement benefits or credit for said service\n\nfrom the Oklahoma Public Employees Retirement System. To receive\n\ncredit for said service prior to January 1, 1991, the employee and\n\nemployer contributions for those years of service and interest of\n\nnot to exceed five percent (5%) as determined by the Board shall be\n\npaid to the Board. Effective January 1, 1991, to receive credit for\n\nsaid service, the member shall pay the amount determined by the\n\nBoard of Trustees pursuant to Section 19 of Enrolled Senate Bill No.\n\n810 of the 2nd Session of the 42nd Oklahoma Legislature. Such\n\nservice credit shall not be used in determining the eligibility of\n\nthe member for retirement based upon length of service.\n\nB. To receive credit for such service:\n\n1. A member who became a member of the system prior to July 1,\n\n1988, shall make application to the Board for such service prior to\n\nJanuary 1, 1989; and\n\n2. A member who becomes a member of the system after June 30,\n\n1988, shall make application to the Board for such service within\n\ntwo (2) years of the date the member became a member of the system.\n\nC. Such service credit may be paid by:\n\n1. A cash lump-sum payment;\n\n2. A trustee-to-trustee transfer of non-Roth funds from a\n\nSection 403(b) annuity or custodial account, an eligible deferred\n\ncompensation plan described in Section 457(b) which is maintained by\n\nan eligible employer described in Code Section 457(e)(1)(A), and/or\n\na Code Section 401(a) qualified plan;\n\n3. A direct rollover of tax-deferred funds from a Code Section\n\n403(b) annuity or custodial account, an eligible deferred\n\ncompensation plan described in Code Section 457(b) which is\n\nmaintained by an eligible employer described in Code Section\n\n457(3)(1)(A), a Code Section 401(a) qualified plan, and/or a Code\n\nSection 408(a) or 408(b) traditional or conduit Individual\n\nRetirement Account or Annuity (IRA). Roth accounts, Coverdell\n\nEducation Savings Accounts and after-tax contributions shall not be\n\nused to purchase such service credit; or\n\n4. Any combination of the above methods of payment.","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":"f77b584492347c988d603963864e201fe740a8e3aa4d74edbd3ce2c570233573","source_id":"us-ok","stale":false,"prev":"us-ok/okla.-stat.-tit.-47-47-2-307","next":"us-ok/okla.-stat.-tit.-47-47-2-307.2"},"notice":"GroundRules: Original legal text. Not legal advice."}