§ 930.7. Increase in benefits--July 1, 2002
Oklahoma Statutes AnnotatedTitle 74. State Government
74 Okl.St.Ann. § 930.7
§ 930.7. Increase in benefits--July 1, 2002
A. Except as otherwise provided by this section, any person receiving retirement benefits from the Oklahoma Public Employees Retirement System as of June 30, 2001, who continues to receive benefits on or after July 1, 2002, shall, beginning in July 2002, receive an increase in retirement benefits equal to five percent (5%).
B. Any person who is otherwise eligible for the benefit increase provided in subsection A of this section, who retired from the System with not less than twenty-five (25) years nor more than twenty-nine (29) years of service, shall receive, in lieu of the benefit increase provided in subsection A of this section, an increase in retirement benefits equal to five and five-tenths percent (5.5%) beginning July 2002.
C. Any person who is otherwise eligible for the benefit increase provided in subsection A of this section, who retired from the System with thirty (30) or more years of service, shall receive, in lieu of the benefit increase provided in subsection A of this section, an increase in retirement benefits equal to six percent (6%) beginning July 2002.
Credits
Laws 2002, c. 394, § 5, eff. July 1, 2002.
74 Okl. St. Ann. § 930.7, OK ST T. 74 § 930.7
Current with emergency effective legislation through Chapter 106 of the Second Regular Session of the 59th Legislature (2024). Some sections may be more current, see credits for details.
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