{"data":{"id":"us-ok/okla.-stat.-tit.-74-74-914","jurisdiction":"us-ok","citation":"Okla. Stat. tit. 74, § 74-914","heading":"Retirement","body":"A. The normal retirement date for a member of the Oklahoma\n\nPublic Employees Retirement System shall be as defined in Section\n\n902 of this title, provided members employed on or after January 1,\n\n1983, shall have six (6) or more years of full-time-equivalent\n\nemployment with a participating employer before receiving any\n\nretirement benefits or if the member is a legislative session\n\nemployee of the Legislature, shall have three (3) or more years of\n\nfull-time-equivalent employment with a participating employer before\n\nreceiving any retirement benefits. In no event shall a normal\n\nretirement date for a member be before six (6) months after the\n\nentry date of the participating employer by whom he or she is\n\nemployed.\n\nB. A member may be employed beyond the normal retirement date\n\nby the appointing authority of the participating employer. However,\n\nthe member may not receive retirement pay so long as the member\n\ncontinues employment under this act. Any member who has terminated\n\nemployment with a participating employer prior to the month\n\nimmediately preceding said member's normal retirement date must\n\nelect a vested benefit pursuant to Section 917 of this title before\n\nreceiving any retirement benefits.\n\nC. Notice for retirement shall be filed through the retirement\n\ncoordinator for the participating employer in such form and manner\n\nas the Board shall prescribe; provided, that such notice for\n\nretirement shall be filed with the office of the retirement system\n\nat least sixty (60) days prior to the date selected for the member's\n\nretirement; provided further, that the Executive Director may waive\n\nthe sixty-day notice for good cause shown as defined by the Board.\n\n1. The participating employer shall provide the System with the\n\nfollowing information for a retiring member, no later than the\n\nfifteenth day of the month of retirement: last day physically on\n\nthe job; last day on payroll; and final unused sick leave balance.\n\n2. Failure to submit this information by the deadline, or\n\nerrors in submitted information that result in a disqualification of\n\nretirement eligibility shall be the responsibility of the\n\nparticipating employer. In cases where the error results in\n\ndisqualification of retirement eligibility, it is the participating\n\nemployer's responsibility to reemploy the member, or retain the\n\nmember on the payroll, for time period required to reach\n\neligibility, not exceeding two (2) months.\n\nD. No retirement benefits shall be payable to any member until\n\nthe first day of the month following the termination of the member's\n\nemployment with any participating employer. The type of retirement\n\nbenefit selected by a member may not be changed on or after the\n\neffective date of the member's retirement. Receipt of workers'\n\ncompensation benefits shall in no respect disqualify the retiree for\n\nbenefits.\n\nE. If a retiree should be elected or appointed to any position\n\nor office for which compensation for service is paid from levies or\n\ntaxes imposed by the state or any political subdivision thereof, the\n\nretiree shall not receive any retirement benefit for any month for\n\nwhich the retiree serves in such position or office after the\n\nretiree has received compensation in a sum equal to the amount\n\nallowable as wages or earnings by the Social Security Administration\n\nin any calendar year. This subsection shall not apply to service\n\nrendered by a retiree as a juror, as a witness in any legal\n\nproceeding or action, as an election board judge or clerk, or in any\n\nother office or position of a similar nature, or to an employer that\n\nis not a participating employer. Provided, further, that any\n\nparticipating employer who is employing such a retiree shall make\n\nproper written notification to the System informing it of the\n\nbeginning date of such retiree's employment and the date such\n\nretiree reaches the maximum compensation allowed by this section in\nin any\n\nother office or position of a similar nature, or to an employer that\n\nis not a participating employer. Provided, further, that any\n\nparticipating employer who is employing such a retiree shall make\n\nproper written notification to the System informing it of the\n\nbeginning date of such retiree's employment and the date such\n\nretiree reaches the maximum compensation allowed by this section in\n\nthe calendar year. Any retiree returning to work for a\n\nparticipating employer shall make contributions to the System and\n\nthe employer shall do likewise. All retirees who have returned to\n\nemployment and participation in the System following retirement\n\nshall have post-retirement benefits calculated on one of the\n\nfollowing methods:\n\n1. All service accumulated from date of reemployment shall be\n\ncomputed based on the benefit formula applicable at that time and\n\nthe additional benefits shall be added to the previous benefits.\n\nSuch additional benefits shall be calculated each year based upon\n\nadditional service accrued from July 1 to June 30 of the previous\n\nyear and the additional benefit, if any, will be added to the\n\nretiree's monthly benefit beginning January 1, 2000, and each\n\nJanuary 1 thereafter. However, the post-retirement service credit\n\nshall be cumulative, beginning with service credit accrued after the\n\ndate of retirement, provided that the retiree has not received a\n\ndistribution of the post-retirement contributions.\n\n2. Any retiree who returns to employment with a participating\n\nemployer may elect not to receive any retirement benefits while so\n\nreemployed. If such an election is made and reemployment is for a\n\nminimum period of thirty-six (36) consecutive months, all service\n\naccumulated from date of reemployment shall be participating\n\nservice. For purposes of determining the retirement benefits of\n\nsuch a member upon the termination of such reemployment all\n\ncreditable service of the member shall be computed based on the\n\nbenefit formula applicable at the time of termination of such\n\nreemployment. Provided, a retiree who became reemployed prior to\n\nJuly 1, 1982, and who is reemployed for a minimum of thirty-six (36)\n\nconsecutive months shall have all the creditable service of such\n\nretiree computed based on the benefit formula applicable at the time\n\nof termination of such reemployment if the retiree elects not to\n\nreceive retirement benefits prior to such termination of\n\nreemployment. A retiree who has waived receipt of the monthly\n\nbenefit, but is not reemployed for the full thirty-six (36)\n\nconsecutive months, shall upon termination of such reemployment have\n\nonly the additional amount added to his or her benefit as if they\n\nhad not waived the benefit as provided in paragraph 1 of this\n\nsubsection.\n\n3. All post-retirement additional benefits shall be calculated\n\nusing actual hours worked as well as the actual compensation\n\nreceived and upon which contributions are paid. Post-retirement\n\nservice is not subject to the partial year round-up provisions of\n\nsubsection C of Section 913 of this title.\n\n4. A retired member who returns to work for a participating\n\nemployer pursuant to this section shall be bound by the election\n\nmade pursuant to paragraph (2) of subsection A of Section 915 of\n\nthis title if the member had made such election prior to retirement.\n\nIf the member had not made such election prior to retirement, the\n\nmember may do so during the member's reemployment with a\n\nparticipating employer pursuant to this section. A retired member\n\nmay not be rehired by their former employer, nor may the retired\n\nmember be permitted to enter into an employment contract of any kind\n\nwith a former employer, for a period of one (1) year after the\n\nretired member ended his or her employment with the former employer\n\nunless the retired member waives his or her benefit under paragraph\nember\n\nmay not be rehired by their former employer, nor may the retired\n\nmember be permitted to enter into an employment contract of any kind\n\nwith a former employer, for a period of one (1) year after the\n\nretired member ended his or her employment with the former employer\n\nunless the retired member waives his or her benefit under paragraph\n\n2 of this subsection and returns as a bona fide employee.\n\nF. Except as otherwise provided by subsection G of this\n\nsection, any member may elect to retire before his or her normal\n\nretirement date on the first day of any month coinciding with or\n\nfollowing the attainment of age fifty-five (55), provided such\n\nmember has completed ten (10) years of participating service, but in\n\nno event before six (6) months after the entry date. Any member who\n\nshall retire before the normal retirement date shall receive an\n\nannual retirement benefit adjusted in accordance with the following\n\npercentage schedule:\n\nPercentage of Normal\n\nAge Retirement Benefit\n\n62 100.00%\n\n61 93.33%\n\n60 86.67%\n\n59 80.00%\n\n58 73.33%\n\n57 66.67%\n\n56 63.33%\n\n55 60.00%\n\nG. Any member whose first participating service occurs on or\n\nafter November 1, 2011, may elect to retire before his or her normal\n\nretirement date on the first day of any month coinciding with or\n\nfollowing the attainment of age sixty (60), provided such member has\n\ncompleted ten (10) years of participating service, but in no event\n\nbefore six (6) months after the entry date. Any member who shall\n\nretire before the normal retirement date shall receive an annual\n\nretirement benefit adjusted in accordance with the following\n\npercentage schedule:\n\nPercentage of Normal\n\nAge Retirement Benefit\n\n65 100.00%\n\n64 93.33%\n\n63 86.67%\n\n62 80.00%\n\n61 73.33%\n\n60 66.67%","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":"76f3a3027b7439f5b93f316b044d7588bdb2e2cc14a4daabc02a39c9acd5c677","source_id":"us-ok","stale":false,"prev":"us-ok/okla.-stat.-tit.-74-74-913e","next":"us-ok/okla.-stat.-tit.-74-74-915"},"notice":"GroundRules: Original legal text. Not legal advice."}