{"data":{"id":"us-ok/okla.-stat.-tit.-74-74-910.1","jurisdiction":"us-ok","citation":"Okla. Stat. tit. 74, § 74-910.1","heading":"Transfer from Employment Security Commission Retirement","body":"Plan to Public Employees Retirement System.\n\nA. Members of the Oklahoma Employment Security Commission\n\nRetirement Plan may decide individually to transfer from the\n\nOklahoma Employment Security Commission Retirement Plan to the\n\nOklahoma Public Employees Retirement System. Any such decision\n\nshall be made prior to August 15, 1987. The decision shall be made\n\nupon forms obtained from the Oklahoma Public Employees Retirement\n\nSystem. Prior to September 1, 1988, the Oklahoma Employment\n\nSecurity Commission shall certify to the Oklahoma Public Employees\n\nRetirement System, the names and periods of credited service for\n\nthose persons deciding to transfer. In addition the Oklahoma\n\nEmployment Security Commission may purchase additional periods of\n\ncredited service for any of its employees who are members of the\n\nOklahoma Public Employees Retirement System.\n\nB. Any person that makes the decision to transfer pursuant to\n\nthe provisions of subsection A of this section, beginning November\n\n1, 1987, shall cease being a member of the Oklahoma Employment\n\nSecurity Commission Retirement Plan and shall commence being a\n\nmember of the Oklahoma Public Employees Retirement System. On\n\nNovember 1, 1987, the Oklahoma Employment Security Commission shall\n\ntransfer to the Oklahoma Public Employees Retirement System for each\n\nperson deciding to transfer and for each employee who is currently a\n\nmember of the Oklahoma Public Employees Retirement System for whom\n\nextra credited service is to be purchased an amount equal to the\n\nemployer and employee contributions which would have been paid for\n\nsuch credited service had the person been a member of the Oklahoma\n\nPublic Employees Retirement System at the time of accrual of such\n\ncredited service, plus five percent (5%) simple interest to date of\n\ntransfer.\n\nC. Upon the payment of the employee and employer contribution,\n\nservice accrued by the person while a member of the Oklahoma\n\nEmployment Security Commission Retirement Plan shall be treated as\n\ncredited service in the Oklahoma Public Employees Retirement System.\n\nD. On January 1, 1988, the Oklahoma Employment Security\n\nCommission shall return to those persons transferring to the\n\nOklahoma Public Employees Retirement System, any employee\n\ncontributions made by the person which are not required to be\n\ntransferred to the Oklahoma Public Employee Retirement System.\n\nE. The Oklahoma Employment Security Commission is authorized to\n\nestablish a plan of voluntary early retirement for its employees,\n\nutilizing any funds in its independent retirement system in excess\n\nof those amounts necessary to ensure its actuarial soundness. Such\n\nplan may require employees' contributions as determined by the\n\nCommission. Prior to January 1, 1991, the Commission may acquire\n\nadditional credited service for its employees in the Oklahoma Public\n\nEmployees Retirement System at full actuarial value; provided,\n\nhowever, effective January 1, 1991, to acquire additional credited\n\nservice for its employees in the System, the employee shall pay the\n\namount determined by the Board pursuant to Section 39 of this act.","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":"bb825919f6299d93bafd11828fef5fa3a57ac87c04a3225a8cb43e628131b4de","source_id":"us-ok","stale":false,"prev":"us-ok/okla.-stat.-tit.-74-74-910","next":"us-ok/okla.-stat.-tit.-74-74-910.1a"},"notice":"GroundRules: Original legal text. Not legal advice."}