{"data":{"id":"us-ok/okla.-stat.-tit.-74-74-915.1","jurisdiction":"us-ok","citation":"Okla. Stat. tit. 74, § 74-915.1","heading":"Benefits subject to limitations in Section 415 of","body":"Internal Revenue Code – Excess benefit arrangements.\n\nA. Benefits payable from the System may not exceed the maximum\n\nbenefits specified by Section 415(b) of the federal Internal Revenue\n\nCode.\n\nB. Subject to approval by the Internal Revenue Service, the\n\nBoard may establish and maintain a qualified governmental excess\n\nbenefit arrangement under Section 415(m) of the federal Internal\n\nRevenue Code. The Board may establish by rule the necessary and\n\nappropriate procedures for the administration of such benefit\n\narrangement under the federal Internal Revenue Code. If the amount\n\nof any annual benefit would exceed the limitations imposed by\n\nSection 415 of the federal Internal Revenue Code, that excess amount\n\nmay be paid from this benefit arrangement. The amount of any\n\ncontribution that would exceed the limitations imposed by Section\n\n415 of the federal Internal Revenue Code would be credited to this\n\nbenefit arrangement. If established, the qualified excess benefit\n\narrangement must be a separate portion of the retirement plan. The\n\nqualified excess benefit arrangement is subject to the following\n\nrequirements:\n\n1. The benefit arrangement shall be maintained solely for the\n\npurpose of providing to members in the retirement plan that part of\n\nthe member’s annual benefit otherwise payable under the terms of the\n\nact that exceed the limitation on benefits imposed by Section 415 of\n\nthe federal Internal Revenue Code; and\n\n2. Members do not have an election, directly or indirectly, to\n\ndefer compensation to the excess benefit arrangement.","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":"ac767face6b5d2d6b4a9c5d4d6f1e5b6d3f22ea79b39142a79f27a23ba83b77c","source_id":"us-ok","stale":false,"prev":"us-ok/okla.-stat.-tit.-74-74-915","next":"us-ok/okla.-stat.-tit.-74-74-915.2"},"notice":"GroundRules: Original legal text. Not legal advice."}