{"data":{"id":"us-ok/okla.-stat.-tit.-74-74-912","jurisdiction":"us-ok","citation":"Okla. Stat. tit. 74, § 74-912","heading":"Consolidation of other systems","body":"(1) The State of Oklahoma, any county, city or town, or any\n\ninstrumentality thereof whose employees or a class of whose\n\nemployees are members of any other retirement or pension plan\n\nauthorized by a statute of the State of Oklahoma may, by resolution\n\nadopted by the official board, body, or officer or officers\n\nauthorized to apply for application, request the board to submit a\n\nproposal for consolidation of such other system with the Oklahoma\n\nPublic Employees Retirement System, including an estimate of the\n\ncontribution rate necessary to comply with the actuarial standard of\n\nthis system. Such proposal shall provide that: (a) the operation\n\nof such other pension system shall be discontinued; (b) the existing\n\nretirants or annuitants of such other system shall continue to be\n\npaid by the Oklahoma Public Employees Retirement System on the basis\n\nof the benefits schedule applicable in such other system at the date\n\nof proposed consolidation; (c) all cash and securities to the credit\n\nof such other system shall be transferred to the Oklahoma Public\n\nEmployees Retirement System; (d) funds of such other system which\n\nrepresent accumulated contributions, if any, of members shall be\n\ncredited to the employees accumulated contribution reserve of each\n\nemployee. The balance of the funds so transferred to the Oklahoma\n\nPublic Employees Retirement System shall be offset against the\n\nliability on account of existing retirants, annuitants, and active\n\nmembers; (e) the resulting liability so determined shall be the\n\nbasis for a rate of contribution of such employer; (f) such\n\nconsolidation shall take effect only on the anniversary of the entry\n\ndate.","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":"3fe141b28cd935534523a1ac3f7b5720af622046cdd95c26816984f79c785b7b","source_id":"us-ok","stale":false,"prev":"us-ok/okla.-stat.-tit.-74-74-911","next":"us-ok/okla.-stat.-tit.-74-74-912.1"},"notice":"GroundRules: Original legal text. Not legal advice."}