{"data":{"id":"us-ok/okla.-stat.-tit.-74-74-920","jurisdiction":"us-ok","citation":"Okla. Stat. tit. 74, § 74-920","heading":"Employer's contribution","body":"(1) Effective July 1, 1994, every state agency which is a\n\nparticipating employer shall contribute to the System an amount\n\nequal to eleven and one-half percent (11 1/2%) of the monthly\n\ncompensation of each member, but not in excess of Forty Thousand\n\nDollars ($40,000.00).\n\n(2) Effective July 1, 1995, every state agency which is a\n\nparticipating employer shall contribute to the System an amount\n\nequal to eleven and one-half percent (11 1/2%) of the monthly\n\ncompensation of each member, not to exceed the allowable annual\n\ncompensation as defined in paragraph (9) of Section 902 of this\n\ntitle.\n\n(3) Effective July 1, 1996, every state agency which is a\n\nparticipating employer shall contribute to the System an amount\n\nequal to twelve percent (12%) of the monthly compensation of each\n\nmember, not to exceed the allowable annual compensation defined in\n\nparagraph (9) of Section 902 of this title.\n\n(4) Effective July 1, 1999, and through the fiscal year ending\n\nJune 30, 2005, every state agency which is a participating employer\n\nshall contribute to the System an amount equal to ten percent (10%)\n\nof the monthly compensation of each member, not to exceed the\n\nallowable annual compensation defined in paragraph (9) of Section\n\n902 of this title.\n\n(5) Effective July 1, 2005, except as otherwise provided by\n\nsubsection (11) of this section, every state agency which is a\n\nparticipating employer shall contribute an amount to the System\n\nequal to a percentage of monthly compensation of each member, not to\n\nexceed the allowable annual compensation defined in paragraph (9) of\n\nSection 902 of this title as follows:\n\nJuly 1, 2005 – June 30, 2006 11 1/2%\n\nJuly 1, 2006 – June 30, 2007 12 1/2%\n\nJuly 1, 2007 – June 30, 2008 13 1/2%\n\nJuly 1, 2008 – June 30, 2009 14 1/2%\n\nJuly 1, 2009 – June 30, 2011 15 1/2%\n\nJuly 1, 2011 – June 30, 2012\n\nand each year thereafter 16 1/2%\n\n(6) The Board shall certify, on or before November 1 of each\n\nyear, to the Office of Management and Enterprise Services an\n\nactuarially determined estimate of the rate of contribution which\n\nwill be required, together with all accumulated contributions and\n\nother assets of the System, to be paid by each participating\n\nemployer to pay all liabilities which shall exist or accrue under\n\nthe System, including amortization of the past service cost over a\n\nperiod of not to exceed forty (40) years from June 30, 1987, and the\n\ncost of administration of the System, as determined by the Board,\n\nupon recommendation of the actuary.\n\n(7) The Office of Management and Enterprise Services and the\n\nGovernor shall include in the budget and in the budget request for\n\nappropriations the sum required to satisfy the state's obligation\n\nunder this section as certified by the Board and shall present the\n\nsame to the Legislature for allowance and appropriation.\n\n(8) Each other participating employer shall appropriate and pay\n\nto the System a sum sufficient to satisfy the obligation under this\n\nsection as certified by the Board.\n\n(9) Each participating employer is hereby authorized to pay the\n\nemployer's contribution from the same fund that the compensation for\n\nwhich said contribution is paid from or from any other funds\n\navailable to it for such purpose.\n\n(10) Forfeitures arising from severance of employment, death or\n\nfor any other reason may not be applied to increase the benefits any\n\nmember would otherwise receive under the System's law. However,\n\nforfeitures may be used to reduce an employer's contribution.\nthe same fund that the compensation for\n\nwhich said contribution is paid from or from any other funds\n\navailable to it for such purpose.\n\n(10) Forfeitures arising from severance of employment, death or\n\nfor any other reason may not be applied to increase the benefits any\n\nmember would otherwise receive under the System's law. However,\n\nforfeitures may be used to reduce an employer's contribution.\n\n(11) Effective November 1, 2015, an employer shall be required\n\nto make payment to the Oklahoma Public Employees Retirement System\n\nof the amount described by subsection A of Section 10 of this act\n\nwith respect to any employee who is a participant in the defined\n\ncontribution system created pursuant to the provisions of Sections 1\n\nthrough 11 of this act. The employer shall be required to make the\n\nrequired matching contribution amount for all employees that\n\nparticipate in the defined contribution system and to remit the\n\ndifference between such amount and the amount the employer would\n\notherwise have paid pursuant to the provisions of this section to\n\nthe Oklahoma Public Employees Retirement System.","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":"1774acf4fded95ac64d57c627d632a96e385dd4e053d80718b79c763a045d57c","source_id":"us-ok","stale":false,"prev":"us-ok/okla.-stat.-tit.-74-74-919.1v2","next":"us-ok/okla.-stat.-tit.-74-74-9200"},"notice":"GroundRules: Original legal text. Not legal advice."}