Okla. Stat. tit. 74, § 74-913c

A. A member of the Oklahoma Public Employees Retirement System

who has six (6) or more years of full-time-equivalent employment

with a participating employer, and who is terminated by a state

agency or other state governmental entity because the member's

position is eliminated through a reduction-in-force after July 1,

1998, and:

1. Is within three (3) years of a normal retirement date as

defined in subparagraph (a) of paragraph (24) of Section 902 of this

title; or

2. Is within six (6) years of a normal retirement date as

defined in subparagraph (b) of paragraph (24) of Section 902 of this

title or in subparagraph (c) of paragraph (24) of Section 902 of

this title,

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may purchase termination credit of a period not to exceed the lesser

of three (3) years or the number of years or months or both years

and months required in order for the member to reach normal

retirement date in the same period of time and with the same service

credit which would have otherwise accrued if the termination had not

occurred.

B. In order to receive the termination credit authorized by

this section, the member shall be required to file an election with

the System indicating an intent to purchase the credit. The member

shall have a period of six (6) months from the date the member is

terminated as described in subsection A of this section within which

to file the election.

C. To purchase the termination credit, the member shall be

required to make payment to the System of an amount equal to both

the employer and employee contributions which would have been paid

to the System based upon the compensation as defined in paragraph

(9) of Section 902 of this title, which was received by the member

in the last full month that the member was employed by the state

agency or other state governmental entity multiplied by the number

of months required in order for the combination of the participating

service and member's age to equal the amount required for the member

to reach normal retirement date with an unreduced benefit as if the

member had not been terminated.

D. The member must make full payment to the System of all

required contribution amounts within sixty (60) days of filing the

election to purchase the credit. The member must vest his or her

benefits with a declared future retirement date as of the first

month the member is eligible for normal retirement. Failure to make

the full payment to the System of the required contribution amounts,

for any reason, within the time prescribed, shall result in

cancellation of the election provided pursuant to this section, and

return of the purchase amount tendered, without interest.

E. Purchased termination credit may only be used as service

credit to qualify the member for normal retirement. Eligible

members may purchase termination credit or the incentive credit

authorized pursuant to Section 913b of this title, but may not

purchase both termination credit and incentive credit. This

purchase will not be used in the calculation for final average

compensation.

F. If the member chooses to retire at any time prior to the

member's normal retirement date or returns to employment with a

participating employer of the System at any time prior to

retirement, the purchase of termination credit pursuant to this

section shall be void and the System will return the purchase amount

tendered, without interest.

G. In the event of the death of the member prior to retirement,

the member's spouse, if otherwise eligible for benefits pursuant to

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paragraph (5) of Section 918 of this title, may elect to receive

benefits which include the termination credit on the member's

declared future retirement date, or may elect to receive a return of

the purchase amount tendered, without interest.