{"data":{"id":"us-ok/okla.-stat.-tit.-70-70-17-116.2b","jurisdiction":"us-ok","citation":"Okla. Stat. tit. 70, § 70-17-116.2B","heading":"Oklahoma State System of Higher Education -","body":"Employees of entities or institutions - Amount of retirement\n\nbenefits.\n\nA. Beginning July 1, 2004, a member who has any creditable\n\nservice as an employee of an entity or institution within The\n\nOklahoma State System of Higher Education on or after July 1, 1995,\n\nwho retires on or after the member's normal retirement age or whose\n\nretirement is because of disability shall receive an annual\n\nallowance for life, payable monthly, as follows:\n\n1. If the member becomes a member after June 30, 1995, and was\n\nnot eligible to become a member prior to July 1, 1995, in an amount\n\nequal to two percent (2%) of the member's average salary upon which\n\nmember contributions were made, multiplied by the number of the\n\nmember's years of creditable service;\n\n2. If the member became a member or is eligible to become a\n\nmember prior to July 1, 1995, and elected to have a maximum\n\ncompensation level in excess of Twenty-five Thousand Dollars\n\n($25,000.00) pursuant to paragraph 1 of subsection C of Section 17-\n\n116.2 of this title or pursuant to subsection E of Section 17-116.2\n\nof this title, or if the member's salary never exceeded Twenty-five\n\nThousand Dollars ($25,000.00) prior to July 1, 1995, in an amount\n\nequal to:\n\na. two percent (2%) of the member's average salary upon\n\nwhich member contributions were made, not to exceed\n\nForty Thousand Dollars ($40,000.00), multiplied by the\n\nnumber of the member's years of creditable service\n\nauthorized and performed prior to July 1, 1995, plus\n\nany years of prior service authorized under this\n\ntitle, plus\n\nb. two percent (2%) of the average of the member's\n\nmaximum compensation level upon which member\n\ncontributions were made for those years between July\n\n1, 1995, and June 30, 2007, in which the member's\n\nregular annual compensation meets or exceeds the\n\nmaximum compensation level in effect for the member\n\nfor the period July 1, 1995, through June 30, 2007,\n\nmultiplied by the number of the member's years of\n\ncreditable service for the period July 1, 1995,\n\nthrough June 30, 2007, in which the member's regular\n\nannual compensation meets or exceeds the maximum\n\ncompensation in effect for the member for the period\n\nJuly 1, 1995, through June 30, 2007, plus\n\nc. two percent (2%) of the member's average salary upon\n\nwhich member contributions were made, multiplied by\n\nthe number of the member's years of creditable service\n\nauthorized and performed for an employer other than a\n\ncomprehensive university or for service performed for\n\nan employer other than an entity or institution within\n\nThe Oklahoma State System of Higher Education on or\n\nafter July 1, 1995, but not later than June 30, 2007,\n\nplus\n\nd. two percent (2%) of the member's average salary upon\n\nwhich member contributions were made, multiplied by\n\nthe number of the member's years of creditable service\n\nin which contributions were made that did not meet or\n\nexceed the member's maximum compensation level in\n\neffect for the member for the period July 1, 1995,\n\nthrough June 30, 2007, and the number of the member's\n\nyears of creditable service authorized and performed\n\nafter June 30, 2007;\n\n3. If the member became a member or is eligible to become a\n\nmember prior to July 1, 1995, and was eligible to elect to have a\n\nmaximum compensation level in excess of Twenty-five Thousand Dollars\n\n($25,000.00) and did not elect or elected not to have a maximum\n\ncompensation level of Forty Thousand Dollars ($40,000.00) pursuant\n\nto paragraph 1 of subsection C of Section 17-116.2 of this title or\n\npursuant to subsection E of Section 17-116.2 of this title, in an\n\namount equal to:\n\na. two percent (2%) of the member's average salary upon\n\nwhich member contributions were made, not to exceed\n\nTwenty-five Thousand Dollars ($25,000.00), multiplied\n\nby the number of the member's years of creditable\n\nservice authorized and performed prior to July 1,\n\n1995, plus any years of prior service authorized under\n\nthis title, plus\nof Section 17-116.2 of this title, in an\n\namount equal to:\n\na. two percent (2%) of the member's average salary upon\n\nwhich member contributions were made, not to exceed\n\nTwenty-five Thousand Dollars ($25,000.00), multiplied\n\nby the number of the member's years of creditable\n\nservice authorized and performed prior to July 1,\n\n1995, plus any years of prior service authorized under\n\nthis title, plus\n\nb. two percent (2%) of the average of the member's\n\nmaximum compensation level upon which member\n\ncontributions were made for those years of service\n\nbetween July 1, 1995, and June 30, 2007, in which the\n\nmember's regular annual compensation meets or exceeds\n\nthe maximum compensation level in effect for the\n\nmember for the period July 1, 1995, through June 30,\n\n2007, multiplied by the number of the member's years\n\nof creditable service for the period July 1, 1995,\n\nthrough June 30, 2007, in which the member's regular\n\nannual compensation meets or exceeds the maximum\n\ncompensation in effect for the member for the period\n\nJuly 1, 1995, through June 30, 2007, plus\n\nc. two percent (2%) of the member's average salary upon\n\nwhich member contributions were made, multiplied by\n\nthe number of the member's years of creditable service\n\nauthorized and performed for an employer other than a\n\ncomprehensive university or for service performed for\n\nan employer other than an entity or institution within\n\nThe Oklahoma State System of Higher Education on or\n\nafter July 1, 1995, but not later than June 30, 2007,\n\nplus\n\nd. two percent (2%) of the member's average salary upon\n\nwhich member contributions were made, multiplied by\n\nthe number of the member's years of creditable service\n\nin which contributions were made that did not meet or\n\nexceed the member's maximum compensation level in\n\neffect for the member for the period July 1, 1995,\n\nthrough June 30, 2007, and the number of the member's\n\nyears of creditable service authorized and performed\n\nafter June 30, 2007;\n\n4. Any member who retired on or after July 1, 1995, shall be\n\neligible to have the benefits recalculated in accordance with the\n\nterms and provisions of paragraphs 2 and 3 of this section. In the\n\nevent such calculation results in an increase in benefits, such\n\nbenefits will be adjusted commencing January 1, 2005, and\n\nthereafter. No such recalculation shall be applied in a retroactive\n\nmanner to result in any increase in benefits which have been paid\n\nbetween July 1, 1995, and December 31, 2004;\n\n5. For purposes of this section, the term \"average of the\n\nmember's maximum compensation level\" means an average of the annual\n\nsalary on which the maximum contributions were made to the Teachers'\n\nRetirement System of Oklahoma for the period between July 1, 1995,\n\nand June 30, 2007. The average for each member will be applied in\n\naccordance with paragraph (15) of Section 17-101 of this title;\n\n6. In the event there are insufficient number of years for the\n\ntime period between July 1, 1995, and June 30, 2007, to reach the\n\nhigh three (3) or high consecutive five (5) years in accordance with\n\nparagraph (15) of Section 17-101 of this title, the member's maximum\n\ncompensation level shall be determined by an average of the salary\n\non which maximum contributions were made. In no case shall the\n\nmember's maximum compensation level exceed the average salary as\n\ndetermined by paragraph (15) of Section 17-101 of this title; and\n\n7. Beginning July 1, 2018, an active member of the Teachers'\n\nRetirement System of Oklahoma who is employed and participating with\n\nan entity or institution within The Oklahoma State System of Higher\n\nEducation may purchase not to exceed two (2) years of incentive\n\ncredit if:\n\na. the member has reached his or her normal retirement\n\ndate or is within two (2) years of reaching the\n\nmember's normal retirement date as authorized in\n\nSection 17-105 of this title, or\narticipating with\n\nan entity or institution within The Oklahoma State System of Higher\n\nEducation may purchase not to exceed two (2) years of incentive\n\ncredit if:\n\na. the member has reached his or her normal retirement\n\ndate or is within two (2) years of reaching the\n\nmember's normal retirement date as authorized in\n\nSection 17-105 of this title, or\n\nb. the member is eligible for or is within two (2) years\n\nof being eligible for early retirement pursuant to\n\nparagraph 1 of subsection A of Section 17-116.2 of\n\nthis title.\n\nB. Purchased incentive credit may only be used as participation\n\nservice to qualify the member for normal or early retirement.\n\nC. To receive the incentive credit, the member shall pay the\n\namount determined by the Board pursuant to Section 17-116.8 of this\n\ntitle.","path":["OK Code","Title 70"],"source_url":"https://www.oklegislature.gov/OK_Statutes/CompleteTitles/os70.pdf","current_through":"2026-08-14","vintage":"open-us-law v2026.08, retrieved 2026-09-14","retrieved_at":"2026-09-14T18:32:36Z","sha256":"06da2c0eb665c7dde791b46f354f6b9a0488ef456bd0c7bffda4fe2094ce94a2","source_id":"us-ok","stale":false,"prev":"us-ok/okla.-stat.-tit.-70-70-17-116.2a","next":"us-ok/okla.-stat.-tit.-70-70-17-116.2c"},"notice":"GroundRules: Original legal text. Not legal advice."}