2018 Oklahoma Statutes
Title 70. Schools
§70-17-116.13. Calculation of retirement allowance - Increase in benefits.

A. Beginning July 1, 1998, a classified member who retired prior to July 1, 1997, shall have the member's retirement allowance calculated on the member's current average salary plus One Thousand Four Hundred Dollars ($1,400.00).

B. Beginning July 1, 1998, a nonclassified member who retired prior to July 1, 1997, shall have the member's retirement allowance calculated on the member's current average salary plus Seven Hundred Dollars ($700.00).

C. Beginning July 1, 1998, those individuals receiving benefits pursuant to subsection (3) of Section 17-105 of this title whose benefits commenced prior to July 1, 1997, shall receive an increase in benefits of five and four-tenths percent (5.4%).

Added by Laws 1998, c. 317, § 8, eff. July 1, 1998. Amended by Laws 1998, c. 363, § 1, eff. July 1, 1998; Laws 1999, c. 151, § 1, eff. July 1, 1999.

NOTE: Editorially renumbered from § 17-116.12 of this title to avoid a duplication in numbering.

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