§74-913.8. Military service credit - payment.
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/ok/title-74-state-government/74-913-8·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
A. Any active member of the Oklahoma Public Employees Retirement System who served in any branch of the United States Armed Forces or any component thereof, who was honorably discharged, and whose initial membership in the System began on or after July 1, 2000, may receive up to five
(5)years of military service credit as otherwise provided in Section 901 et seq. of this title, only upon payment of the actuarial cost of the service credit as determined by the Board pursuant to Section 913.5 of this title. Any active member of the Oklahoma Public Employees Retirement System who served in any branch of the United States Armed Forces or any component thereof, who was honorably discharged, and whose initial membership in the System began prior to July 1, 2000, and whose military service does not qualify as service which can be granted to a member under Section 913 of this title, shall be eligible to purchase service credit pursuant to this subsection. For purposes of this subsection, “military service” means service in the Armed Forces of the United States by honorably discharged persons.
B. The combined amount of service granted under subsection B of Section 913 of this title, and service purchased pursuant to subsection A of this section, shall not exceed five
(5)years.
C. For a member of the System hired on or after July 1, 2003, if the military service credit authorized by this section is used to compute the retirement benefit of the member and the member retires from the System, such military service credit shall not be used to compute the retirement benefit in any other retirement system created pursuant to the Oklahoma Statutes and the member may receive credit for such service only in the retirement system from which the member first retires. Added by Laws 2000, c. 311, § 4, eff. July 1, 2000. Amended by Laws 2003, c. 406, § 18, eff. July 1, 2003; Laws 2022, c. 96, § 5, eff. Nov. 1, 2022; Laws 2023, c. 146, § 4, eff. Nov. 1, 2023.