Okla. Stat. tit. 11, § 11-50-114

Eligibility - Delay of distribution - Death of member - Review of

requests - Disability benefits in lieu of pensions - Health

insurance payments.

A. The State Board is hereby authorized to pay out of funds in

the System a monthly service pension to any member eligible as

hereinafter provided, not exceeding in any event the amount of money

in such funds and not exceeding in any event the accrued retirement

benefit for such member, except as provided for herein. In order

for a member to be eligible for such service pension the following

requirements must be complied with:

1. The member's service with the police department for any

participating municipality must have ceased; however, a member may

be subsequently reemployed in the position of police chief pursuant

to subsection C of Section 50-112 of this title;

2. The member must have reached the member's normal retirement

date; and

3. The member must have complied with any agreement as to

contributions by the member and other members to any funds of the

System where said agreement has been made as provided by this

article; provided, that should a retired member receive disability

benefits as provided in this and other sections of this article, the

time the retired member is receiving disability benefits shall count

as time on active service if the retired member should be recalled

by the Chief of Police from disability retirement. It shall be

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necessary before such time shall be counted toward retirement that

the retired member make the same contribution as the member would

have otherwise made if on active service for the time the retired

member was disabled.

B. Any member complying with all requirements of this article,

who reaches normal retirement date, upon application, shall be

retired at the accrued retirement benefit. When a member has served

for the necessary number of years and is otherwise eligible, as

provided in this article, if such member is discharged without cause

by the participating municipality, the member shall be eligible for

a pension.

C. Effective July 1, 1989, in no event shall commencement of

distribution of the accrued retirement benefit of a member be

delayed beyond April 1 of the calendar year following the later of:

1. The calendar year in which the member reaches seventy and

one-half (70 1/2) years of age for a member who attains age seventy

and one-half (70 1/2) before January 1, 2020, or effective for

distributions required to be made after December 31, 2019, but

before January 1, 2023, the calendar year in which the member

reaches seventy-two (72) years of age for an individual who attains

age seventy and one-half (70 1/2) after December 31, 2019, or

effective for distributions required to be made after December 31,

2022, the calendar year in which the member reaches seventy-three
ve for

distributions required to be made after December 31, 2019, but

before January 1, 2023, the calendar year in which the member

reaches seventy-two (72) years of age for an individual who attains

age seventy and one-half (70 1/2) after December 31, 2019, or

effective for distributions required to be made after December 31,

2022, the calendar year in which the member reaches seventy-three

(73) years of age for an individual who attains age seventy-two (72)

after December 31, 2022, or "the applicable age" as defined in

Section 401(a)(9)(C)(v) of the Internal Revenue Code of 1986, as

amended, if later; or

2. The actual retirement date of the member.

For distributions made for calendar years beginning on or after

January 1, 2001, through December 31, 2004, the System shall apply

the minimum distribution requirements and incidental benefit

requirements of Section 401(a)(9) of the Internal Revenue Code of

1986, as amended, in accordance with the regulations under Section

401(a)(9) of the Internal Revenue Code of 1986, as amended, which

were proposed on January 17, 2001, notwithstanding any provision of

the System to the contrary. For distributions made for calendar

years beginning on or after January 1, 2005, the System shall apply

the minimum distribution incidental benefit requirements, incidental

benefit requirements, and minimum distribution requirements of

Section 401(a)(9) of the Internal Revenue Code of 1986, as amended,

in accordance with the final regulations under Section 401(a)(9) of

the Internal Revenue Code of 1986, as amended, including Treasury

Regulations Sections 1.401(a)(9)-1 through 1.401(a)(9)-9; provided,

however, that for distributions required to be made after December

31, 2019, for individuals who attain seventy and one-half (70 1/2)

years of age after December 31, 2019, but before January 1, 2023,

such distributions shall take into account that age 70 1/2 was

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stricken and age 72 was inserted in Section 401(a)(9)(B)(iv)(I),

Section 401(a)(9)(C)(i)(I) and Section 401(a)(9)(C)(ii)(I) of the

Internal Revenue Code of 1986, as amended, and, provided further,

that for individuals who attain seventy-two (72) years of age after

December 31, 2022, such distributions shall take into account that

"age 72" was stricken and "the applicable age", as defined in

Section 401(a)(9)(C)(v) of the Internal Revenue Code of 1986, as

amended, was inserted in Section 401(a)(9)(B)(iv)(I) of the Internal

Revenue Code of 1986, as amended (applicable to calendar year 2023),

Section 401(a)(9)(C)(i)(I) and Section 401(a)(9)(C)(ii)(I) of the

Internal Revenue Code of 1986, as amended, and that further revision

of Section 401(a)(9)(B)(iv) of the Internal Revenue Code of 1986, as

amended, effective for calendar years after 2023 with respect to

certain distributions shall be taken into account in all cases

notwithstanding any provision of the System to the contrary.

Effective January 1, 2009, with respect to the Oklahoma Police

Deferred Option Plan, to the extent applicable, no minimum

distribution is required for 2009 in accordance with Section

401(a)(9)(H) of the Internal Revenue Code of 1986, as amended.

Effective September 8, 2009, notwithstanding anything to the

contrary of the System, the System, which is a governmental plan

(within the meaning of Section 414(d) of the Internal Revenue Code

of 1986, as amended) is treated as having complied with Section

401(a)(9) of the Internal Revenue Code of 1986, as amended, for all

years to which Section 401(a)(9) of the Internal Revenue Code of

1986, as amended, applies to the System if the System complies with

a reasonable and good-faith interpretation of Section 401(a)(9) of

the Internal Revenue Code of 1986, as amended.

D. In the event of the death of any member who has been awarded

a retirement benefit or is eligible therefor as provided in this
s amended, for all

years to which Section 401(a)(9) of the Internal Revenue Code of

1986, as amended, applies to the System if the System complies with

a reasonable and good-faith interpretation of Section 401(a)(9) of

the Internal Revenue Code of 1986, as amended.

D. In the event of the death of any member who has been awarded

a retirement benefit or is eligible therefor as provided in this

section, such member's beneficiaries shall be paid such retirement

benefit. The remaining portion of the member's retirement benefit

shall be distributed to the beneficiaries at least as rapidly as

under the method of distribution to the member. Effective March 1,

1997, if a member to whom a retirement benefit has been awarded or

who is eligible therefor dies prior to the date as of which the

total amount of retirement benefit paid equals the total amount of

the employee contributions paid by or on behalf of the member and

the member does not have a surviving beneficiary under paragraph 13

of Section 50-101 of this title, the total benefits paid as of the

date of the member's death shall be subtracted from the accumulated

employee contribution amount and the balance, if greater than zero

(0), shall be paid to the member's estate.

E. The State Board may review and affirm a member's request for

retirement benefits prior to the member's normal retirement date

provided that no retirement benefits are paid prior to the normal

retirement date.

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F. A member retired under the provisions of this article may

apply to the State Board to have the member's retirement benefits

set aside and may make application for disability benefits. Upon

approval of the disability benefits, the member would become subject

to all provisions of this article pertaining to disability

retirement.

G. Upon the death of a retired member, the benefit payment for

the month in which the retired member died, if not previously paid,

shall be made to the beneficiary of the member, which shall include

a successor in interest for whom an affidavit is provided to the

System in accordance with Section 393 of Title 58 of the Oklahoma

Statutes, or if there is no surviving beneficiary under paragraph 13

of Section 50-101 of this title, to the member's estate or, if

properly designated by the member, a trust. Upon the death of a

beneficiary, the benefit payment for the month in which the

beneficiary died, if not previously paid, shall be made to the

beneficiary's estate or, if properly designated by the beneficiary,

to a trust. Such benefit payment shall be made in an amount equal

to a full monthly benefit payment regardless of the day of the month

in which the retired member or beneficiary died.

H. If the requirements of Section 50-114.4 of this title are

satisfied, a member who, by reason of attainment of normal

retirement date or age, is separated from service as a public safety

officer with the member's participating municipality, may elect to

have payment made directly to the provider for qualified health

insurance premiums by deduction from his or her monthly pension

payment, after December 31, 2006, in accordance with Section 402(l)

of the Internal Revenue Code of 1986, as amended. For distributions

made after December 29, 2022, the election provided for under

Section 402(l) of the Internal Revenue Code of 1986, as amended, may

be made whether payment of the premiums is made directly to the

provider of the accident or health plan or qualified long-term care

insurance contract by deduction from a distribution from the System

or is made to the member.