Okla. Stat. tit. 74, § 74-914

A. The normal retirement date for a member of the Oklahoma

Public Employees Retirement System shall be as defined in Section

902 of this title, provided members employed on or after January 1,

1983, shall have six (6) or more years of full-time-equivalent

employment with a participating employer before receiving any

retirement benefits or if the member is a legislative session

employee of the Legislature, shall have three (3) or more years of

full-time-equivalent employment with a participating employer before

receiving any retirement benefits. In no event shall a normal

retirement date for a member be before six (6) months after the

entry date of the participating employer by whom he or she is

employed.

B. A member may be employed beyond the normal retirement date

by the appointing authority of the participating employer. However,

the member may not receive retirement pay so long as the member

continues employment under this act. Any member who has terminated

employment with a participating employer prior to the month

immediately preceding said member's normal retirement date must

elect a vested benefit pursuant to Section 917 of this title before

receiving any retirement benefits.

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C. Notice for retirement shall be filed through the retirement

coordinator for the participating employer in such form and manner

as the Board shall prescribe; provided, that such notice for

retirement shall be filed with the office of the retirement system

at least sixty (60) days prior to the date selected for the member's

retirement; provided further, that the Executive Director may waive

the sixty-day notice for good cause shown as defined by the Board.

1. The participating employer shall provide the System with the

following information for a retiring member, no later than the

fifteenth day of the month of retirement: last day physically on

the job; last day on payroll; and final unused sick leave balance.

2. Failure to submit this information by the deadline, or

errors in submitted information that result in a disqualification of

retirement eligibility shall be the responsibility of the

participating employer. In cases where the error results in

disqualification of retirement eligibility, it is the participating

employer's responsibility to reemploy the member, or retain the

member on the payroll, for time period required to reach

eligibility, not exceeding two (2) months.

D. No retirement benefits shall be payable to any member until

the first day of the month following the termination of the member's

employment with any participating employer. The type of retirement

benefit selected by a member may not be changed on or after the

effective date of the member's retirement. Receipt of workers'

compensation benefits shall in no respect disqualify the retiree for

benefits.

E. If a retiree should be elected or appointed to any position

or office for which compensation for service is paid from levies or

taxes imposed by the state or any political subdivision thereof, the

retiree shall not receive any retirement benefit for any month for

which the retiree serves in such position or office after the

retiree has received compensation in a sum equal to the amount

allowable as wages or earnings by the Social Security Administration

in any calendar year. This subsection shall not apply to service

rendered by a retiree as a juror, as a witness in any legal

proceeding or action, as an election board judge or clerk, or in any

other office or position of a similar nature, or to an employer that

is not a participating employer. Provided, further, that any

participating employer who is employing such a retiree shall make

proper written notification to the System informing it of the

beginning date of such retiree's employment and the date such

retiree reaches the maximum compensation allowed by this section in
in any

other office or position of a similar nature, or to an employer that

is not a participating employer. Provided, further, that any

participating employer who is employing such a retiree shall make

proper written notification to the System informing it of the

beginning date of such retiree's employment and the date such

retiree reaches the maximum compensation allowed by this section in

the calendar year. Any retiree returning to work for a

participating employer shall make contributions to the System and

the employer shall do likewise. All retirees who have returned to

employment and participation in the System following retirement

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shall have post-retirement benefits calculated on one of the

following methods:

1. All service accumulated from date of reemployment shall be

computed based on the benefit formula applicable at that time and

the additional benefits shall be added to the previous benefits.

Such additional benefits shall be calculated each year based upon

additional service accrued from July 1 to June 30 of the previous

year and the additional benefit, if any, will be added to the

retiree's monthly benefit beginning January 1, 2000, and each

January 1 thereafter. However, the post-retirement service credit

shall be cumulative, beginning with service credit accrued after the

date of retirement, provided that the retiree has not received a

distribution of the post-retirement contributions.

2. Any retiree who returns to employment with a participating

employer may elect not to receive any retirement benefits while so

reemployed. If such an election is made and reemployment is for a

minimum period of thirty-six (36) consecutive months, all service

accumulated from date of reemployment shall be participating

service. For purposes of determining the retirement benefits of

such a member upon the termination of such reemployment all

creditable service of the member shall be computed based on the

benefit formula applicable at the time of termination of such

reemployment. Provided, a retiree who became reemployed prior to

July 1, 1982, and who is reemployed for a minimum of thirty-six (36)

consecutive months shall have all the creditable service of such

retiree computed based on the benefit formula applicable at the time

of termination of such reemployment if the retiree elects not to

receive retirement benefits prior to such termination of

reemployment. A retiree who has waived receipt of the monthly

benefit, but is not reemployed for the full thirty-six (36)

consecutive months, shall upon termination of such reemployment have

only the additional amount added to his or her benefit as if they

had not waived the benefit as provided in paragraph 1 of this

subsection.

3. All post-retirement additional benefits shall be calculated

using actual hours worked as well as the actual compensation

received and upon which contributions are paid. Post-retirement

service is not subject to the partial year round-up provisions of

subsection C of Section 913 of this title.

4. A retired member who returns to work for a participating

employer pursuant to this section shall be bound by the election

made pursuant to paragraph (2) of subsection A of Section 915 of

this title if the member had made such election prior to retirement.

If the member had not made such election prior to retirement, the

member may do so during the member's reemployment with a

participating employer pursuant to this section. A retired member

may not be rehired by their former employer, nor may the retired

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member be permitted to enter into an employment contract of any kind

with a former employer, for a period of one (1) year after the

retired member ended his or her employment with the former employer

unless the retired member waives his or her benefit under paragraph
ember

may not be rehired by their former employer, nor may the retired

Oklahoma Statutes - Title 74. State Government Page 663

member be permitted to enter into an employment contract of any kind

with a former employer, for a period of one (1) year after the

retired member ended his or her employment with the former employer

unless the retired member waives his or her benefit under paragraph

2 of this subsection and returns as a bona fide employee.

F. Except as otherwise provided by subsection G of this

section, any member may elect to retire before his or her normal

retirement date on the first day of any month coinciding with or

following the attainment of age fifty-five (55), provided such

member has completed ten (10) years of participating service, but in

no event before six (6) months after the entry date. Any member who

shall retire before the normal retirement date shall receive an

annual retirement benefit adjusted in accordance with the following

percentage schedule:

Percentage of Normal

Age Retirement Benefit

62 100.00%

61 93.33%

60 86.67%

59 80.00%

58 73.33%

57 66.67%

56 63.33%

55 60.00%

G. Any member whose first participating service occurs on or

after November 1, 2011, may elect to retire before his or her normal

retirement date on the first day of any month coinciding with or

following the attainment of age sixty (60), provided such member has

completed ten (10) years of participating service, but in no event

before six (6) months after the entry date. Any member who shall

retire before the normal retirement date shall receive an annual

retirement benefit adjusted in accordance with the following

percentage schedule:

Percentage of Normal

Age Retirement Benefit

65 100.00%

64 93.33%

63 86.67%

62 80.00%

61 73.33%

60 66.67%