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§ 930.6. Calculation of retirement benefit increase

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. § 930.6
§ 930.6. Calculation of retirement benefit increase
Any member receiving retirement benefits from the System as of June 30, 1999, who continues to receive benefits on or after July 1, 2000, shall receive an increase in retirement benefits to be computed as follows:
1. Multiply One Thousand Two Hundred Eighty-three Dollars ($1,283.00) by two percent (2%);
2. Multiply the sum of paragraph 1 by the number of years of credited service of the member;
3. Divide the sum of paragraph 2 by twelve (12) and this shall be the increase in the monthly retirement benefit; and
4. This increase shall be adjusted to reflect any options selected by the member at the time of retirement.

Credits

Laws 2000, c. 377, § 14, eff. July 1, 2000.
74 Okl. St. Ann. § 930.6, OK ST T. 74 § 930.6
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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