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§ 50-109. Appropriation of percentage of annual salary of member of System

Oklahoma Statutes AnnotatedTitle 11. Cities and TownsEffective: November 1, 2023

Oklahoma Statutes Annotated
Title 11. Cities and Towns (Refs & Annos)
Chapter 1. Municipal Code (Refs & Annos)
Retirement and Pensions
Article L. Police Pension and Retirement System (Refs & Annos)
Part 1. Municipal Police Pension and Retirement System (Refs & Annos)
Effective: November 1, 2023
11 Okl.St.Ann. § 50-109
§ 50-109. Appropriation of percentage of annual salary of member of System
Currentness
Any municipality participating in the System shall appropriate funds, for the use and benefit of the System, as provided in the following schedule:
1. Prior to July 1, 1991, a minimum of ten percent (10%) of the actual paid base salary of each member of the System employed by the municipality;
2. Beginning July 1, 1991, a minimum of ten and one-half percent (10 1/2%) of the actual paid base salary of each member of the System employed by the municipality;
3. Beginning July 1, 1992, a minimum of eleven percent (11%) of the actual paid base salary of each member of the System employed by the municipality;
4. Beginning July 1, 1993, a minimum of eleven and one-half percent (11 1/2%) of the actual paid base salary of each member of the System employed by the municipality;
5. Beginning July 1, 1994, a minimum of twelve percent (12%) of the actual paid base salary of each member of the System employed by the municipality;
6. Beginning July 1, 1995, a minimum of twelve and one-half percent (12 1/2%) of the actual paid base salary of each member of the System employed by the municipality; and
7. Beginning July 1, 1996, a minimum of thirteen percent (13%) of the actual paid base salary of each member of the System employed by the municipality.
The sum appropriated shall be paid online to the System within ten (10) days following the payroll period on which the contribution is based.
The state shall make such appropriation as is necessary to assure the retirement benefits provided by the article.

Credits

Laws 1977, c. 256, § 50-109, eff. July 1, 1978; Laws 1980, c. 356, § 14, eff. Jan. 1, 1981; Laws 1990, c. 340, § 7, eff. July 1, 1990; Laws 2023, c. 53, § 1, eff. Nov. 1, 2023.
11 Okl. St. Ann. § 50-109, OK ST T. 11 § 50-109
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.
End of Document