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§ 913b. Purchase of incentive credit

Oklahoma Statutes AnnotatedTitle 74. State Government

Oklahoma Statutes Annotated
Title 74. State Government (Refs & Annos)
Chapter 29. Oklahoma Public Employees Retirement System (Refs & Annos)
74 Okl.St.Ann. § 913b
§ 913b. Purchase of incentive credit
A. A member of the Oklahoma Public Employees Retirement System who is employed and participating with a participating employer may purchase not to exceed two (2) years of incentive credit if:
1. The member has reached his or her normal retirement date or is within two (2) years of reaching the member's normal retirement date as defined in Section 902 of Title 74 of the Oklahoma Statutes; or
2. The member is eligible for or is within two (2) years of being eligible for early retirement pursuant to Section 914 of Title 74 of the Oklahoma Statutes.
B. Purchased incentive credit may only be used as participation service and/or an addition to the member's age to qualify the member for normal or early retirement.
C. To receive the incentive credit, the member shall pay the amount determined by the Board pursuant to Section 913.5 of Title 74 of the Oklahoma Statutes.

Credits

Laws 1993, c. 322, § 21, emerg. eff. June 7, 1993; Laws 2003, c. 486, § 4, eff. July 1, 2003.
74 Okl. St. Ann. § 913b, OK ST T. 74 § 913b
Current with emergency effective legislation through Chapter 3 of the Second Regular Session of the 59th Legislature (2024). Some sections may be more current, see credits for details.
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