{"data":{"id":"us-ok/okla.-stat.-tit.-74-74-1316.1","jurisdiction":"us-ok","citation":"Okla. Stat. tit. 74, § 74-1316.1","heading":"Continuance or purchase of life insurance benefits -","body":"Election.\n\nA. Any person who retires or who has elected to receive a\n\nvested benefit under the provisions of the State of Oklahoma\n\nretirement systems or persons who are currently drawing disability\n\nbenefits under Section 1331 et seq. of this title or who meet each\n\nand every requirement of the State Employees Disability Program or\n\nthe spouse or dependent of any such employee may continue in force\n\nthe life insurance benefits authorized by the Oklahoma Employees\n\nInsurance Benefits Act in a face amount of not less than one-fourth\n\n(1/4) of the basic life insurance amount, if such election to\n\ncontinue in force is made within thirty (30) days from the time of\n\nseverance. Persons electing to continue in force life insurance\n\nbenefits shall pay the full cost of the life insurance and under\n\nsuch terms and conditions as established by the Oklahoma Health Care\n\nAuthority. Further, any such retiree may continue in force any\n\nadditional life insurance that was purchased prior to retirement at\n\nan actuarially adjusted rate and under such terms and conditions as\n\nestablished by the Authority.\n\nEffective January 1, 2002, nonvested employees may also continue\n\ntheir life insurance benefits as provided in this section following\n\ntermination of employment, if the employee has completed at least\n\neight (8) years of service with an employer participating in the\n\nOklahoma Public Employees Retirement System or at least ten (10)\n\nyears of service with an employer participating in the Teachers'\n\nRetirement System of Oklahoma. The election to continue the\n\nemployee's life insurance in force must be made within thirty (30)\n\ndays after the date of termination.\n\nB. Any retired employee who is receiving a benefit or\n\nterminates employment with a vested benefit from the Teachers'\n\nRetirement System of Oklahoma and who becomes enrolled in the health\n\ninsurance plan offered by the Oklahoma Employees Insurance and\n\nBenefits Act, pursuant to subsection E of Section 5-117.5 of Title\n\n70 of the Oklahoma Statutes, may elect to purchase life insurance\n\nbenefits in amounts and at a cost as provided for in this section.\n\nC. In lieu of subsection A of this section, any person who\n\nretires or who has elected to receive a vested benefit under the\n\nprovisions of the State of Oklahoma retirement systems and who is\n\nparticipating in a health insurance plan, the dental insurance plan,\n\nor the life insurance plan offered by the Authority, including such\n\npersons who are currently drawing disability benefits under Section\n\n1331 et seq. of this title or who meet each and every requirement of\n\nthe State Employees Disability Program on or before July 1, 1999, or\n\nthe spouse of any such person may elect to purchase life insurance\n\nbenefits authorized by this subsection in a face amount not to\n\nexceed Fifty Thousand Dollars ($50,000.00). Eligible persons\n\npursuant to this subsection shall make an election by January 1,\n\n2000, to purchase the life insurance coverage provided in this\n\nsubsection. Life insurance coverage pursuant to this subsection\n\nshall depend upon providing satisfactory evidence of insurability\n\nfor the person who is to be covered. Life insurance coverage,\n\npursuant to this subsection, shall be purchased in blocks of Five\n\nThousand Dollars ($5,000.00). The premium for such life insurance\n\ncoverage shall be at a blended rate and shall be set by the\n\nAuthority and approved by the Office of Management and Enterprise\n\nServices. The Authority shall promulgate rules necessary for the\n\nimplementation of the provisions of this subsection.","path":["OK Code","Title 74"],"source_url":"https://www.oklegislature.gov/OK_Statutes/CompleteTitles/os74.pdf","current_through":"2026-08-14","vintage":"open-us-law v2026.08, retrieved 2026-09-14","retrieved_at":"2026-09-14T18:32:36Z","sha256":"b186162aee3629add84ed9c69bf808c9e5f6a7277077def12ec868e042ea9594","source_id":"us-ok","stale":false,"prev":"us-ok/okla.-stat.-tit.-74-74-1315.1","next":"us-ok/okla.-stat.-tit.-74-74-1316.2"},"notice":"GroundRules: Original legal text. Not legal advice."}