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2021 Oklahoma Statutes
Title 11. Cities and Towns
§11-50-111.2. Transfer of credited service from or to other retirement system.

Universal Citation: 11 OK Stat § 11-50-111.2 (2021)
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A. A member of the Oklahoma Police Pension and Retirement System may receive up to five (5) years of credited service accumulated by the member while a member of the Oklahoma Firefighters Pension and Retirement System, the Oklahoma Law Enforcement Retirement System, the Teacher's Retirement System of Oklahoma, the Oklahoma Public Employees Retirement System or a county retirement system created pursuant to Section 951 of Title 19 of the Oklahoma Statutes or an Oklahoma municipal retirement system, if the member is not receiving or eligible to receive retirement credit or benefits from said service in any other public retirement system. The member shall decide the number of years of credited service, not to exceed five (5) years, to purchase. The State Board shall determine the amount for the purchase pursuant to Section 50-111.4 of this title. The amount may be paid through a trustee-to-trustee transfer to the Oklahoma Police Pension and Retirement System from another system designated in this section, and/or through payments made by the member. The transferred credited service of the member from another retirement system pursuant to this section shall not alter the member's normal retirement date or vesting requirements. The transferred credited service will be added after the member reaches normal retirement date or vesting date.

B. The Oklahoma Police Pension and Retirement System shall transfer credited service to another Oklahoma state retirement system upon request of former members. Upon transfer, the former member shall have forfeited all rights in the Oklahoma Police Pension and Retirement System. Employee and city contributions of the former municipal retirement systems prior to January 1, 1981, are not transferable.

Added by Laws 1987, c. 236, § 155, emerg. eff. July 20, 1987. Amended by Laws 1988, c. 267, § 9, operative July 1, 1988; Laws 1990, c. 340, § 9, eff. July 1, 1990; Laws 1993, c. 352, § 3, eff. July 1, 1993; Laws 2001, c. 183, § 3, emerg. eff. May 2, 2001; Laws 2018, c. 20, § 2, eff. Nov. 1, 2018.

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