Okla. Stat. tit. 20, § 20-1103.1
This is the official text of Okla. Stat. tit. 20, § 20-1103.1, part of Oklahoma’s Stat. tit. 20, — part of the compiled statutory law of Oklahoma, published by the state as "Stat. tit. 20,." Browse the sections below, each linked to its official government source.
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Additional contributions - Minimum funded ratio -
Official statutory text
Reporting.
A. On and after January 1, 2001, the Administrative Director of
the Courts, in addition to the members' contributions, shall
transfer monthly amounts for deposit in the State Judicial
Retirement Fund as set out in Section 1309 of this title equal to
two percent (2.0%) of the monthly total actual paid gross salaries
of the members of the Uniform Retirement System for Justices and
Judges. Effective July 1, 2005, such amounts transferred by the
Administrative Director of the Courts shall be as follows:
Fiscal Year Ending Percentage of Contribution
June 30, 2006 3.0%
June 30, 2007 4.0%
June 30, 2008 5.5%
June 30, 2009 7.0%
June 30, 2010 8.5%
June 30, 2011 10.0%
June 30, 2012 11.5%
June 30, 2013 13.0%
June 30, 2014 14.5%
June 30, 2015 16.0%
June 30, 2016 17.5%
June 30, 2017 19.0%
June 30, 2018 20.5%
June 30, 2019 and thereafter 22.0%
B. The State Judicial Retirement Fund should have a funded
ratio at or near ninety percent (90%) or be receiving sufficient
contributions to amortize any unfunded liability of the fund
according to the amortization schedule adopted by the Board of
Trustees of the Oklahoma Public Employees Retirement System. The
Board of Trustees shall provide a copy of the annual actuarial
Oklahoma Statutes - Title 20. Courts Page 430
report to the Governor, the Chief Justice of the Supreme Court, the
Speaker of the House of Representatives and the President Pro
Tempore of the Senate. In addition to this report, the Board shall
provide a letter setting forth the amount of the actuarially
required contributions for the System and any other recommendations
that the Board may deem necessary.
C. The Administrative Director of the Courts shall remit to the
System all statutorily required retirement contributions due on a
monthly basis. All required court and employee contributions and
supporting documentation are due and must be received by the System
on or before the fifteenth day of the month following the month for
which the contributions are due. Court and employee contributions
remitted to the System after thirty (30) days from the above due
date shall be subject to a monthly late charge of one and one-half
percent (1.5%) of the unpaid balance to be paid by the
Administrative Director of the Courts to the System.
A. On and after January 1, 2001, the Administrative Director of
the Courts, in addition to the members' contributions, shall
transfer monthly amounts for deposit in the State Judicial
Retirement Fund as set out in Section 1309 of this title equal to
two percent (2.0%) of the monthly total actual paid gross salaries
of the members of the Uniform Retirement System for Justices and
Judges. Effective July 1, 2005, such amounts transferred by the
Administrative Director of the Courts shall be as follows:
Fiscal Year Ending Percentage of Contribution
June 30, 2006 3.0%
June 30, 2007 4.0%
June 30, 2008 5.5%
June 30, 2009 7.0%
June 30, 2010 8.5%
June 30, 2011 10.0%
June 30, 2012 11.5%
June 30, 2013 13.0%
June 30, 2014 14.5%
June 30, 2015 16.0%
June 30, 2016 17.5%
June 30, 2017 19.0%
June 30, 2018 20.5%
June 30, 2019 and thereafter 22.0%
B. The State Judicial Retirement Fund should have a funded
ratio at or near ninety percent (90%) or be receiving sufficient
contributions to amortize any unfunded liability of the fund
according to the amortization schedule adopted by the Board of
Trustees of the Oklahoma Public Employees Retirement System. The
Board of Trustees shall provide a copy of the annual actuarial
Oklahoma Statutes - Title 20. Courts Page 430
report to the Governor, the Chief Justice of the Supreme Court, the
Speaker of the House of Representatives and the President Pro
Tempore of the Senate. In addition to this report, the Board shall
provide a letter setting forth the amount of the actuarially
required contributions for the System and any other recommendations
that the Board may deem necessary.
C. The Administrative Director of the Courts shall remit to the
System all statutorily required retirement contributions due on a
monthly basis. All required court and employee contributions and
supporting documentation are due and must be received by the System
on or before the fifteenth day of the month following the month for
which the contributions are due. Court and employee contributions
remitted to the System after thirty (30) days from the above due
date shall be subject to a monthly late charge of one and one-half
percent (1.5%) of the unpaid balance to be paid by the
Administrative Director of the Courts to the System.
Status: in_force · Read it on the official government site
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