{"data":{"id":"us-ok/okla.-stat.-tit.-74-74-915v2","jurisdiction":"us-ok","citation":"Okla. Stat. tit. 74, § 74-915v2","heading":"Amount of retirement benefit","body":"A. (1) Except as otherwise provided in this subsection and as\n\nprovided for elected officials in Section 913.4 of this title, any\n\nmember who shall retire on or after the member's normal retirement\n\ndate shall be entitled to receive an annual retirement benefit equal\n\nto two percent (2%) of the member's final average compensation as\n\ndetermined pursuant to paragraph (18) of Section 902 of this title,\n\nmultiplied by the number of years of credited service that has been\n\ncredited to the member in accordance with the provisions of Section\n\n913 of this title other than years credited pursuant to paragraph\n\n(2) of this subsection.\n\n(2) Effective January 1, 2004, except as otherwise provided for\n\nelected officials in Section 913.4 of this title and except for\n\nthose members making contributions pursuant to paragraphs (c), (d),\n\n(e) and (f) of subsection (1) of Section 919.1 of this title, any\n\nmember who shall retire shall be entitled to receive an annual\n\nretirement benefit equal to two and one-half percent (2 1/2%) of the\n\nmember's final average compensation as determined pursuant to\n\nparagraph (18) of Section 902 of this title, multiplied by the\n\nnumber of full years of participating service after January 1, 2004,\n\nthat have been credited to the member in accordance with the\n\nprovisions of Section 913 of this title and only for those full\n\nyears of participating service for which contributions have been\n\nmade pursuant to paragraph (g) of subsection (1) of Section 919.1 of\n\nthis title. The two and one-half percent (2 1/2%) multiplier shall\n\nnot apply to purchased service, purchased or granted military\n\nservice or transferred service. In order to receive the two and\n\none-half percent (2 1/2%) multiplier in computing retirement\n\nbenefits, an active member shall make an irrevocable written\n\nelection to pay the contributions pursuant to paragraph (g) of\n\nsubsection (1) of Section 919.1 of this title. The two and one-half\n\npercent (2 1/2%) multiplier pursuant to this paragraph shall not\n\napply to additional years of service credit attributed to sick leave\n\npursuant to paragraph 7 of subsection B of Section 913 of this title\n\nand fractional years pursuant to subsection C of Section 913 of this\n\ntitle and shall be attributable only to the participating service\n\ncredited after the election of the member.\n\n(3) The minimum final average compensation for any person who\n\nbecomes a member of the System on or after July 1, 1995:\n\na. and who had twenty (20) or more years of credited\n\nservice within the System as of the member's\n\nretirement date shall be no less than Thirteen\n\nThousand Eight Hundred Dollars ($13,800.00) per annum,\n\nb. and who had at least fifteen (15) but not more than\n\nnineteen (19) years of credited service within the\n\nSystem as of the member's retirement date shall be no\n\nless than Six Thousand Nine Hundred Dollars\n\n($6,900.00) per annum,\n\nc. and who had less than fifteen (15) years of credited\n\nservice within the System as of the member's\n\nretirement date shall not be eligible for any minimum\n\namount of final average compensation and the member's\n\nfinal average compensation shall be the final average\n\ncompensation as defined by paragraph (18) of Section\n\n902 of this title.\n\n(4) Provided, further, any member who has elected a vested\n\nbenefit pursuant to Section 917 of this title shall be entitled to\n\nreceive benefits as outlined in this section except the percent\n\nfactor and the member's maximum compensation level in effect the\n\ndate the member's employment was terminated with a participating\n\nemployer shall be applicable.\n\nd, further, any member who has elected a vested\n\nbenefit pursuant to Section 917 of this title shall be entitled to\n\nreceive benefits as outlined in this section except the percent\n\nfactor and the member's maximum compensation level in effect the\n\ndate the member's employment was terminated with a participating\n\nemployer shall be applicable.\n\n(5) Any member who is a correctional officer or a probation and\n\nparole officer employed by the Department of Corrections at the time\n\nof retirement and who retires on or before June 30, 2000, shall be\n\nentitled to receive an annual retirement benefit equal to two and\n\none-half percent (2 1/2%) of the final average compensation of the\n\nmember not to exceed Twenty-five Thousand Dollars ($25,000.00) and\n\ntwo percent (2%) of the final average salary in excess of Twenty-\n\nfive Thousand Dollars ($25,000.00) but not exceeding the maximum\n\ncompensation level as provided in paragraph (9) of Section 902 of\n\nthis title, multiplied by the number of years of service as a\n\ncorrectional officer or a probation and parole officer; provided,\n\nany years accrued prior to July 1, 1990, as a correctional officer\n\nor a probation and parole officer by a member who is employed as a\n\ncorrectional officer or a probation and parole officer on July 1,\n\n1990, shall be calculated for retirement purposes at two and one-\n\nquarter percent (2 1/4%) of the final average compensation of the\n\nmember not to exceed Twenty-five Thousand Dollars ($25,000.00) and\n\ntwo percent (2%) of the final average salary in excess of Twenty-\n\nfive Thousand Dollars ($25,000.00) but not exceeding the maximum\n\ncompensation level as provided in paragraph (9) of Section 902 of\n\nthis title, multiplied by the number of years of such service and\n\nany years in excess of twenty (20) years as such an officer or years\n\ncredited to the member in accordance with the provisions of Section\n\n913 of this title shall be calculated for retirement purposes at two\n\npercent (2%) of the final average compensation of the member\n\nmultiplied by the number of years of such service. Any person who\n\ncontributes to the System as a correctional officer or a probation\n\nand parole officer as provided in paragraph (b) or (c) of subsection\n\n(1) of Section 919.1 of this title, on or before June 30, 2000, but\n\nwho does not make such contributions after June 30, 2000, and who\n\ndoes not qualify for normal retirement under subparagraph (c) of\n\nparagraph (24) of Section 902 of this title shall have retirement\n\nbenefits for each year of full-time-equivalent participating service\n\nas a correctional or a probation and parole officer after July 1,\n\n1990, computed on two and one-half percent (2 1/2%) of the final\n\naverage compensation based upon those years as a correctional\n\nofficer or a probation and parole officer. Provided, further, any\n\nfugitive apprehension agent shall be entitled to receive benefits as\n\noutlined in this act for service as a fugitive apprehension agent\n\nprior to July 1, 2002, only upon payment to the System of the\n\nemployee contributions which would have been paid if such fugitive\n\napprehension agent had been covered by this section prior to the\n\neffective date of this act, plus interest of not to exceed ten\n\npercent (10%) as determined by the Board. The Department of\n\nCorrections may make the employee contribution and interest payment\n\non behalf of such member.\n\nontributions which would have been paid if such fugitive\n\napprehension agent had been covered by this section prior to the\n\neffective date of this act, plus interest of not to exceed ten\n\npercent (10%) as determined by the Board. The Department of\n\nCorrections may make the employee contribution and interest payment\n\non behalf of such member.\n\n(6) Any member who is a correctional officer, a probation and\n\nparole officer or a fugitive apprehension agent employed by the\n\nDepartment of Corrections at the time of retirement and who retires\n\non or after July 1, 2002, shall be entitled to receive an annual\n\nretirement benefit equal to two and one-half percent (2 1/2%) of the\n\nfinal average compensation of the member, but not exceeding the\n\nmaximum compensation level as provided in paragraph (18) of Section\n\n902 of this title, multiplied by the number of years of service as a\n\ncorrectional officer, a probation and parole officer or a fugitive\n\napprehension agent, and any years in excess of twenty (20) years as\n\nsuch an officer or agent, or years credited to the member in\n\naccordance with the provisions of Section 913 of this title, shall\n\nbe calculated for retirement purposes at two percent (2%) of the\n\nfinal average compensation of the member multiplied by the number of\n\nyears of such service. For purposes of this paragraph, \"final\n\naverage compensation\" shall be determined by computing the average\n\nannual salary, in the manner prescribed by paragraph (18) of Section\n\n902 of this title, for the highest three (3) years of the last ten\n\n(10) years of participating service immediately preceding retirement\n\nor termination of employment for all years of service performed by\n\nsuch member, both for years of service performed as a correctional\n\nofficer, probation and parole officer or fugitive apprehension\n\nagent, not in excess of twenty (20) years, and for years of service\n\nperformed in excess of twenty (20) years, whether as a correctional\n\nofficer, probation and parole officer, fugitive apprehension agent\n\nor other position unless the computation of benefits would result in\n\na lower retirement benefit amount than if final average compensation\n\nwere to be computed as otherwise provided by this paragraph. \"Final\n\naverage compensation\" shall be determined by computing the average\n\nannual salary for the highest five (5) of the last ten (10) years of\n\nparticipating service immediately preceding retirement or\n\ntermination of employment, with respect to members whose first\n\nparticipating service occurs on or after July 1, 2013.\n\n(7) Any member who is a correctional officer, a probation and\n\nparole officer or a fugitive apprehension agent who has at least\n\nfive (5) years of service as a correctional officer, a probation and\n\nparole officer or a fugitive apprehension agent who is in such\n\nposition on June 30, 2004, or who is hired after June 30, 2004, in\n\nsuch position, and who receives a promotion or change in job\n\nclassification after June 30, 2004, to another position in the\n\nDepartment of Corrections, and who is employed by the Department of\n\nCorrections at the time of retirement and who retires on or after\n\nJuly 1, 2004, shall be entitled to receive an annual retirement\n\nbenefit equal to two and one-half percent (2 1/2%) of the final\n\naverage compensation of the member, but not exceeding the maximum\n\ncompensation level as provided in paragraph (18) of Section 902 of\n\nthis title, multiplied by the number of years of service with the\n\nDepartment of Corrections and any years in excess of twenty (20)\n\nyears with the Department or years credited to the member in\n\naccordance with the provisions of Section 913 of this title, shall\n\nbe calculated for retirement purposes at two percent (2%) of the\n\nfinal average compensation of the member multiplied by the number of\n\nyears of such service. For purposes of this paragraph, \"final\ne 679\n\nDepartment of Corrections and any years in excess of twenty (20)\n\nyears with the Department or years credited to the member in\n\naccordance with the provisions of Section 913 of this title, shall\n\nbe calculated for retirement purposes at two percent (2%) of the\n\nfinal average compensation of the member multiplied by the number of\n\nyears of such service. For purposes of this paragraph, \"final\n\naverage compensation\" shall be determined by computing the average\n\nannual salary, in the manner prescribed by paragraph (18) of Section\n\n902 of this title, for the highest three (3) years of the last ten\n\n(10) years of participating service immediately preceding retirement\n\nor termination of employment for all years of service performed by\n\nsuch member with the Department. \"Final average compensation\" shall\n\nbe determined by computing the average annual salary for the highest\n\nfive (5) of the last ten (10) years of participating service\n\nimmediately preceding retirement or termination of employment, with\n\nrespect to members whose first participating service occurs on or\n\nafter July 1, 2013.\n\n(8) Any person who contributed to the System as a correctional\n\nofficer, a probation and parole officer or a fugitive apprehension\n\nagent as provided in paragraph (b) or (c) of subsection (1) of\n\nSection 919.1 of this title, and who retires under normal retirement\n\nor early retirement on or after January 1, 2004, under paragraph\n\n(24) of Section 902 of this title, and any public safety officer\n\ndescribed by paragraph (37) of Section 902 of this title hired on or\n\nafter the effective date of this act by the Grand River Dam\n\nAuthority and who retires on or after the effective date of this\n\nact, shall have retirement benefits for each year of full-time-\n\nequivalent participating service as a correctional officer, a\n\nprobation and parole officer or a fugitive apprehension agent, or\n\nGrand River Dam public safety officer computed on two and one-half\n\npercent (2 1/2%) of the final average compensation based upon those\n\nyears as a correctional officer, a probation and parole officer, a\n\nfugitive apprehension agent or a Grand River Dam public safety\n\nofficer. For purposes of this paragraph, \"final average\n\ncompensation\" shall be determined by computing the average annual\n\nsalary, in the manner prescribed by paragraph (18) of Section 902 of\n\nthis title, for the highest three (3) years of the last ten (10)\n\nyears of participating service immediately preceding retirement or\n\ntermination of employment for all years of service performed by such\n\nmember, both for years of service performed as a correctional\n\nofficer, probation and parole officer or fugitive apprehension\n\nagent, or years of service performed as a Grand River Dam public\n\nsafety officer, not in excess of twenty (20) years, and for years of\n\nservice performed in excess of twenty (20) years, whether as a\n\ncorrectional officer, probation and parole officer, fugitive\n\napprehension agent, Grand River Dam public safety officer, or other\n\nposition unless the computation of benefits would result in a lower\n\nretirement benefit amount than if final average compensation were to\n\nbe computed as otherwise provided by this paragraph. \"Final average\n\ncompensation\" shall be determined by computing the average annual\n\nsalary for the highest five (5) of the last ten (10) years of\n\nparticipating service immediately preceding retirement or\n\ntermination of employment, with respect to members whose first\n\nparticipating service occurs on or after July 1, 2013, or with\n\nrespect to Grand River Dam public safety officers whose first\n\nparticipating service occurs on or after the effective date of this\n\nact.\nerage annual\n\nsalary for the highest five (5) of the last ten (10) years of\n\nparticipating service immediately preceding retirement or\n\ntermination of employment, with respect to members whose first\n\nparticipating service occurs on or after July 1, 2013, or with\n\nrespect to Grand River Dam public safety officers whose first\n\nparticipating service occurs on or after the effective date of this\n\nact.\n\n(9) Any member who is:\n\na. initially on or after July 1, 2002, employed as a\n\nfirefighter for the Oklahoma Military Department and\n\nwho retires on or after the member's normal retirement\n\ndate shall be entitled to receive an annual retirement\n\nbenefit equal to two and one-half percent (2 1/2%) of\n\nthe final average compensation of the member\n\nmultiplied by the number of years of service in such\n\nservice,\n\nb. (1) a firefighter who performs firefighting services\n\nfor the Oklahoma Military Department prior to\n\nJuly 1, 2002, and who makes an election in\n\nwriting on a form prescribed for this purpose by\n\nthe System not later than December 31, 2002,\n\nshall be entitled to receive a retirement benefit\n\nbased upon two and one-half percent (2 1/2%) of\n\nthe final average compensation of the member\n\nmultiplied by the number of years of service as a\n\nfirefighter with the Oklahoma Military Department\n\non or after July 1, 2002. The election\n\nauthorized by this subdivision shall be\n\nirrevocable once the election is filed with the\n\nSystem,\n\n(2) a firefighter who performs firefighting services\n\nfor the Oklahoma Military Department prior to\n\nJuly 1, 2002, and who makes the election in\n\ndivision (1) of this subparagraph may also make\n\nan election in writing on a form prescribed for\n\nthis purpose by the System not later than\n\nDecember 31, 2002, to receive a retirement\n\nbenefit based upon two and one-half percent (2\n\n1/2%) of the final average compensation of the\n\nmember multiplied by the number of years of\n\nservice as a firefighter with the Oklahoma\n\nMilitary Department prior to July 1, 2002. The\n\nelection authorized by this subdivision shall be\n\nirrevocable once the election is filed with the\n\nSystem. Retirement benefits shall be calculated\n\nbased upon the two and one-half percent (2 1/2%)\n\nmultiplier upon payment being made pursuant to\n\nSection 913.5 of this title.\n\n(10) Any person who contributes to the System as a deputy\n\nsheriff or county jailer as provided in paragraph (f) of subsection\n\n(1) of Section 919.1 of this title, and who was:\n\na. employed by a participating employer in the System\n\nfor the first time as a deputy sheriff or jailer on\n\nor after November 1, 2020, and who retires under\n\nnormal retirement or early retirement under division\n\n(v) of subparagraph (d) of paragraph (24) of Section\n\n902 of this title, shall have retirement benefits for\n\neach year of full-time-equivalent participating\n\nservice as a deputy sheriff or county jailer computed\n\non two and one-half percent (2 1/2%) of the final\n\naverage compensation based upon those years as a\n\ndeputy sheriff or county jailer, and any years in\n\nexcess of twenty (20) years as a deputy sheriff or\n\ncounty jailer, or years credited to the member in\n\naccordance with the provisions of Section 913 of this\n\ntitle, shall be calculated for retirement purposes at\n\ntwo percent (2%) of the final average compensation of\n\nthe member multiplied by the number of years of such\n\nservice, or\n\nb. (1) employed by a participating employer in the\n\nSystem for the first time as a deputy sheriff or\n\ncounty jailer before November 1, 2020, and who\n\nretires under the normal retirement or early\n\nretirement under division (vi) of subparagraph\nculated for retirement purposes at\n\ntwo percent (2%) of the final average compensation of\n\nthe member multiplied by the number of years of such\n\nservice, or\n\nb. (1) employed by a participating employer in the\n\nSystem for the first time as a deputy sheriff or\n\ncounty jailer before November 1, 2020, and who\n\nretires under the normal retirement or early\n\nretirement under division (vi) of subparagraph\n\n(d) of paragraph (24) of Section 902 of this\n\ntitle, shall be entitled to receive a retirement\n\nbenefit based on two and one-half percent (2\n\n1/2%) of the final average compensation of the\n\nmember multiplied based on the number of years of\n\nservice as a deputy sheriff or county jailer with\n\nany county participating in the System on or\n\nafter November 1, 2024,\n\n(2) employed by a participating employer in the\n\nSystem for the first time as a deputy sheriff or\n\ncounty jailer before November 1, 2020, and who\n\nretires under the normal retirement or early\n\nretirement under division (vi) of subparagraph\n\n(d) of paragraph (24) of Section 902 of this\n\ntitle, and who makes an election in writing not\n\nlater than July 1, 2026, on a form prescribed for\n\nthis purpose by the System, shall be entitled to\n\na retirement benefit based upon two and one-half\n\npercent (2 1/2%) of the final average\n\ncompensation of the member multiplied by the\n\nnumber of years of service prior to November 1,\n\n2024, as a deputy sheriff or county jailer\n\nemployed by any county that is a participating\n\nemployer in the System. The election authorized\n\nby this subparagraph shall be irrevocable once\n\nthe election is filed with the System.\n\nRetirement benefits shall be calculated based\n\nupon the two and one-half percent (2 1/2%)\n\nmultiplier upon payment being made pursuant to\n\nSection 913.5 of this title. Any person\n\notherwise qualifying under this subparagraph, but\n\nwho is not employed as a deputy sheriff or county\n\njailer on November 1, 2024, and who is reemployed\n\nas a deputy sheriff or county jailer with a\n\ncounty that is a participating employer in the\n\nSystem after November 1, 2024, shall have six (6)\n\nmonths from the initial date of reemployment to\n\nmake the election authorized in this\n\nsubparagraph. The actuarial purchase of any\n\nservice credit accrued prior to November 1, 2024,\n\nas a deputy sheriff or county jailer employed by\n\na county that is a participating employer in the\n\nSystem as set forth in this subparagraph shall\n\ncancel such corresponding service and shall not\n\nbe used to compute the retirement benefit under\n\nany other provision except as provided in this\n\nsubparagraph. In no event shall the service\n\npurchased under this subparagraph cause the\n\nmember to receive a retirement benefit for the\n\nsame service in any other plan. Any purchased\n\nservice under this subparagraph shall comply with\n\nthe applicable provisions of the Internal Revenue\n\nCode and rules adopted by the Board of Trustees.\n\nc. For purposes of paragraph (10), \"final average\n\ncompensation\" shall be determined by computing the\n\naverage annual salary, in the manner prescribed by\n\nparagraph (18) of Section 902 of this title, both for\n\nyears of service performed as a deputy sheriff or\n\ncounty jailer not in excess of twenty (20) years, and\n\nfor years of service performed in excess of twenty\n\n(20) years, whether as a deputy sheriff or county\n\njailer.\n\n(11) Upon death of a retiree, there shall be paid to his or her\n\nbeneficiary an amount equal to the excess, if any, of his or her\n\naccumulated contributions over the sum of all retirement benefit\n\npayments made.\n\n(12) Such annual retirement benefits shall be paid in equal\n\nmonthly installments, except that the Board may provide for the\n\npayment of retirement benefits which total less than Two Hundred\n\nForty Dollars ($240.00) a year on other than a monthly basis.\nor her\n\naccumulated contributions over the sum of all retirement benefit\n\npayments made.\n\n(12) Such annual retirement benefits shall be paid in equal\n\nmonthly installments, except that the Board may provide for the\n\npayment of retirement benefits which total less than Two Hundred\n\nForty Dollars ($240.00) a year on other than a monthly basis.\n\n(13) Pursuant to the rules established by the Board, a retiree\n\nreceiving monthly benefits from the System may authorize warrant\n\ndeductions for any products currently offered to active state\n\nemployees through the Employees Benefits Council, provided that\n\nproduct is offered to state retirees as a group and has a minimum\n\nparticipation of five hundred state retirees. The System has no\n\nresponsibility for the marketing, enrolling or administration of\n\nsuch products, but shall retain a processing fee of two percent (2%)\n\nof the gross deductions for the products. Retirement benefit\n\ndeductions shall be made for membership dues for any statewide\n\nassociation for which payroll deductions are authorized pursuant to\n\nsubsection B of Section 34.70 of Title 62 of the Oklahoma Statutes\n\nfor retired members of any state-supported retirement system, upon\n\nproper authorization given by the member to the board from which the\n\nmember or beneficiary is currently receiving retirement benefits.\n\nB. A member shall be considered disabled if such member\n\nqualifies for the payment of Social Security disability benefits, or\n\nthe payment of benefits pursuant to the Railroad Retirement Act of\n\n1974, Section 231 et seq. of Title 45 of the United States Code, and\n\nshall be eligible for benefits hereunder upon proof of such\n\ndisability, provided such member is an active regularly scheduled\n\nemployee with a participating employer at the time of injury or\n\ninception of illness or disease resulting in subsequent\n\ncertification of eligibility for Social Security disability benefits\n\nby reason of such injury, illness or disease, providing such\n\ndisability is certified by the Social Security Administration within\n\none (1) year after the last date physically on the job and after\n\ncompletion of at least eight (8) years of participating service or\n\ncombined prior and participating service or resulting in subsequent\n\ncertification of eligibility of disability by the Railroad\n\nRetirement Board providing such certification is made by the\n\nRailroad Retirement Board within one (1) year after the last date\n\nphysically on the job and after completion of at least eight (8)\n\nyears of participating service or combined prior and participating\n\nservice. The member shall submit to the Retirement System the\n\nSocial Security Award Notice or the Railroad Retirement Award Notice\n\ncertifying the date of entitlement for disability benefits, as\n\nissued by the Social Security Administration, Department of Health\n\nand Human Services or the Railroad Retirement Board. Disability\n\nbenefits shall become effective on the date of entitlement as\n\nestablished by the Social Security Administration or the Railroad\n\nRetirement Board, but not before the first day of the month\n\nfollowing removal from the payroll, whichever is later, and final\n\napproval by the Retirement System. Benefits shall be based upon\n\nlength of service and compensation as of the date of disability,\n\nwithout actuarial reduction because of commencement prior to the\n\nnormal retirement date. The only optional form of benefit payment\n\navailable for disability benefits is Option A as provided for in\n\nSection 918 of this title. Option A must be elected in accordance\n\nwith the provisions of Section 918 of this title. Benefit payments\n\nshall cease upon the member's recovery from disability prior to the\n\nnormal retirement date. Future benefits, if any, shall be paid\n\nbased upon length of service and compensation as of the date of\nt\n\navailable for disability benefits is Option A as provided for in\n\nSection 918 of this title. Option A must be elected in accordance\n\nwith the provisions of Section 918 of this title. Benefit payments\n\nshall cease upon the member's recovery from disability prior to the\n\nnormal retirement date. Future benefits, if any, shall be paid\n\nbased upon length of service and compensation as of the date of\n\ndisability. In the event that disability ceases and the member\n\nreturns to employment within the System credited service to the date\n\nof disability shall be restored, and future benefits shall be\n\ndetermined accordingly.\n\nC. A member who incurred a disability pursuant to subsection B\n\nof this section on or after July 1, 1999, and who has retired from\n\nthe System with an early retirement benefit pending certification\n\nfrom the Social Security Administration or the Railroad Retirement\n\nBoard shall receive a retirement benefit not less than the\n\ndisability retirement benefit provided by subsection B of this\n\nsection once the System receives a Social Security Award Notice or a\n\nRailroad Retirement Award Notice pursuant to subsection B of this\n\nsection and a completed Application for Disability Benefits. In\n\naddition, such member shall receive the difference, if any, between\n\nthe early retirement benefit and the disability benefit from the\n\ndate the Social Security Administration or the Railroad Retirement\n\nBoard establishes disability entitlement.\n\nD. Any actively participating member of the System on or after\n\nJuly 1, 1998, except for those employees provided in subparagraph\n\n(e) of paragraph (14) of Section 902 of this title, whose employment\n\nis less than full-time, shall have his or her final average\n\ncompensation calculated on an annualized basis using his or her\n\nhourly wage subject to the maximum compensation limits; provided,\n\nhowever, any such member whose first participating service occurred\n\nbefore July 1, 2013, and who has at least three (3) years of full-\n\ntime employment during the last ten (10) years immediately preceding\n\ntermination or retirement shall not be eligible for the\n\nannualization provisions contained herein; and provided further, any\n\nsuch member whose first participating service occurred on or after\n\nJuly 1, 2013, and who has at least five (5) years of full-time\n\nemployment during the last ten (10) years immediately preceding\n\ntermination or retirement shall not be eligible for the\n\nannualization provisions contained herein. The Board of Trustees\n\nshall promulgate such administrative rules as are necessary to\n\nimplement 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":"dd9c4116f0de49f813470c2e716bcf2637455bbef01b1d75147815e13c84ed77","source_id":"us-ok","stale":false,"prev":"us-ok/okla.-stat.-tit.-74-74-915v1","next":"us-ok/okla.-stat.-tit.-74-74-916"},"notice":"GroundRules: Original legal text. Not legal advice."}