§70-17-116.17. Benefit calculations and increase.
159 words·~1 min read·
/ok/title-70-schools/70-17-116-17·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
A. Beginning July 1, 2000, a classified member who retired prior to July 1, 1999, who continues to receive benefits on or after July 1, 2000, shall have the member’s retirement allowance calculated on the member’s current average salary plus Five Hundred Dollars ($500.00).
B. Beginning July 1, 2000, a nonclassified member who retired prior to July 1, 1999, who continues to receive benefits on or after July 1, 2000, shall have the member’s retirement allowance
calculated on the member’s current average salary plus Two Hundred Fifty Dollars ($250.00).
C. Beginning July 1, 2000, those individuals receiving benefits pursuant to subsection
(3)of Section 17-105 of Title 70 of the Oklahoma Statutes whose benefits commenced prior to July 1, 1999, shall receive an increase in benefits of one and eight-tenths percent (1.8%). Added by Laws 2000, c. 377, § 11, eff. July 1, 2000. NOTE: Editorially renumbered from § 17-116.4 of this title to avoid a duplication in numbering.