reglab/housing_qa huggingface dataset:
47 OK Stat § 47-2-303.2 (2021)
2021 Oklahoma Statutes|Title 47. Motor Vehicles|§47-2-303.2. Duties of fiduciaries.

|A. A fiduciary with respect to the Oklahoma Law Enforcement Retirement System shall not cause the System to engage in a transaction if the fiduciary knows or should know that such transaction constitutes a direct or indirect: |1. sale or exchange, or leasing of any property from the System to a party in interest for less than adequate consideration or from a party in interest to the System for more than adequate consideration;2. lending of money or other extension of credit from the System to a party in interest without the receipt of adequate security and a reasonable rate of interest, or from a party in interest to the System with provision of excessive security or an unreasonably high rate of interest;3. furnishing of goods, services or facilities from the System to a party in interest for less than adequate consideration, or from a party in interest to the System for more than adequate consideration; or4. transfer to, or use by or for the benefit of, a party in interest of any assets of the System for less than adequate consideration.B. A fiduciary with respect to the Oklahoma Law Enforcement Retirement System shall not:1. deal with the assets of the System in the fiduciary's own interest or for the fiduciary's own account;2. in the fiduciary's individual or any other capacity act in any transaction involving the System on behalf of a party whose interests are adverse to the interests of the System or the interests of its participants or beneficiaries; or3. receive any consideration for the fiduciary's own personal account from any party dealing with the System in connection with a transaction involving the assets of the System.C. A fiduciary with respect to the Oklahoma Law Enforcement Retirement System may:1. invest all or part of the assets of the System in deposits which bear a reasonable interest rate in a bank or similar financial institution supervised by the United States or a state, if such bank or other institution is a fiduciary of such plan; or2. provide any ancillary service by a bank or similar financial institution supervised by the United States or a state, if such bank or other institution is a fiduciary of such plan.D. A person or a financial institution is a fiduciary with respect to the Oklahoma Law Enforcement Retirement System to the extent that the person or the financial institution:1. exercises any discretionary authority or discretionary control respecting management of the Oklahoma Law Enforcement Retirement System or exercises any authority or controlrespecting management or disposition of the assets of the System;2. renders investment advice for a fee or other compensation, direct or indirect, with respect to any monies or other property of the System, or has any authority or responsibility to do so; or3. has any discretionary authority or discretionary responsibility in the administration of the System.Added by Laws 1988, c. 321, § 22, operative July 1, 1988.
47 OK Stat § 47-2-303.4 (2021)
2021 Oklahoma Statutes|Title 47. Motor Vehicles|§47-2-303.4. Deposits of contributions and dedicated revenues - Warrants and vouchers.

|A. All employee and employer contributions and dedicated revenues shall be deposited in the Oklahoma Law Enforcement Retirement Fund in the State Treasury. The Board shallhave the responsibility for the management of the Oklahoma Law Enforcement Retirement Fund, and may transfer monies used for investment purposes by the Oklahoma Law Enforcement Retirement System from the Oklahoma Law Enforcement Retirement Fund in the State Treasury to the custodian bank or trust company of the System. |B. All benefits payable pursuant to the provisions of the Oklahoma Law Enforcement Retirement System, refunds of contribution and overpayments, and all administrative expenses in connection with the System shall be paid from the Oklahoma Law Enforcement Retirement Fund upon warrants or vouchers signed by two persons designated by the Board. The Board may transfer monies from the custodian bank or trust company of the System to the Oklahoma Law Enforcement Retirement Fund in the State Treasury for the purposes specified in this subsection.Added by Laws 1988, c. 321, § 23, operative July 1, 1988.
47 OK Stat § 47-2-303.5 (2021)
2021 Oklahoma Statutes|Title 47. Motor Vehicles|§47-2-303.5. Acceptance of gifts or gratuities.

|The members of the Oklahoma Law Enforcement Retirement Board, the chief administrative officer and the employees of the System shall not accept gifts or gratuities from an individual organization with a value in excesss of Fifty Dollars ($50.00) per year. The provisions of this section shall not be construed to prevent the members of the Board, the chief administrative officer or the employees of the System from attending educational seminars, conferences, meetings or similar functions which are paid for, directly or indirectly, by more than one organization. |Added by Laws 1988, c. 321, § 24, operative July 1, 1988.
47 OK Stat § 47-2-304 (2021)
2021 Oklahoma Statutes|Title 47. Motor Vehicles|§47-2-304. Contributions to fund - Amount - Deduction by employer - Pick-up of member contributions.

|A. The Department of Public Safety, the Oklahoma State Bureau of Investigation, the Oklahoma State Bureau of Narcotics and Dangerous Drugs Control, the Alcoholic Beverage Control Board, the Oklahoma Tourism and Recreation Department and the State Board of Pharmacy shall make contributions to the fund as follows: |The Department of Public Safety, Oklahoma State Bureau of Investigation, Oklahoma State Bureau of Narcotics and Dangerous Drugs Control, the Alcoholic Beverage Control Board, the Oklahoma Tourism and Recreation Department and the State Board of Pharmacy shall contribute to the fund an amount equal to eleven percent (11%) of the actual paid base salary of each member.B. Each member of the System shall make contributions to the fund in an amount equal to eight percent (8%) of the actual paid base salary of the member.Member contributions shall be deducted by each participating employer for such benefits as the Board is by law authorized to administer and shall be remitted monthly, or as the Board may otherwise provide, for deposit in the fund.C. Each employer shall pick up under the provisions of Section 414(h)(2) of the Internal Revenue Code of 1986 and pay the contribution which the member is required by law to make to the System for all compensation earned after December 31, 1989. Although the contributions so picked up are designated as member contributions, such contributions shall be treated as contributions being paid by the employer in lieu of contributions by the member in determining tax treatment under the Internal Revenue Code of 1986 and such picked up contributions shall not be includable in the gross income of the member until such amounts are distributed or made available to the member or the beneficiary of the member. The member, by the terms of this System, shall not have any option to choose to receive the contributions so picked up directly and the picked up contributions must be paid by the employer to the System.Member contributions which are picked up shall be treated in the same manner and to the same extent as member contributions made prior to the date on which member contributions were picked up by the participating employer. Member contributions so picked up shall be included in gross salary for purposes of determining benefits and contributions under the System.The employer shall pay the member contributions from the same source of funds used in paying salary to the member, by effecting an equal cash reduction in gross salary of the member.Added by Laws 1961, p. 331, § 2-304, eff. Sept. 1, 1961. Amended by Laws 1972, c. 57, § 1, operative July 1, 1972; Laws 1975, c. 365, § 3, operative July 1, 1975; Laws 1980, c. 357, § 8, eff. July 1, 1980; Laws 1982, c. 328, § 4, operative July 1, 1982; Laws 1986, c. 253, § 2, operative July 1, 1986; Laws 1988, c. 321, § 25, operative July 1, 1988; Laws 1989, c. 136, § 2, eff. Jan. 1, 1990; Laws 2012, c. 307, § 1, eff. Nov. 1, 2012.
47 OK Stat § 47-2-304.1 (2021)
2021 Oklahoma Statutes|Title 47. Motor Vehicles|§47-2-304.1. Mobilization for state or national emergencies – Reduction of employer contribution prohibited.

|Members of the Oklahoma Law Enforcement Retirement System responding to mobilization for state or national emergencies may not have the employer contribution reduced during their period of service in the Oklahoma National Guard or Reserve. |Added by Laws 2002, c. 332, § 1, eff. July 1, 2002.
47 OK Stat § 47-2-305.1 (2021)
2021 Oklahoma Statutes|Title 47. Motor Vehicles|§47-2-305.1. Computation of benefits - Increase in benefits.

|A. On July 1, 1988, a member who retired prior to July 1, 1985, or the surviving spouse of such a member or the surviving spouse of a member who became deceased prior to July 1, 1985, shall receive retirement benefits computed in accordance with the provisions of Section 2-305 of Title 47 of the Oklahoma Statutes. For the purpose of the computation, the final average salary shall be Two Thousand Two Hundred Seventeen Dollars ($2,217.00). |B. Except for those persons specified in subsection A of this section, any person receiving benefits from the Oklahoma Law Enforcement Retirement System as of June 30, 1988, shall receive a three percent (3%) increase in said benefits on July 1, 1988.Added by Laws 1985, c. 296, § 4, emerg. eff. July 24, 1985. Amended by Laws 1988, c. 267, § 23, operative July 1, 1988.
47 OK Stat § 47-2-305.1B (2021)
2021 Oklahoma Statutes|Title 47. Motor Vehicles|§47-2-305.1B. Trustee-to-trustee transfer - Treatment of trust - Rules.

|A. An individual who has been designated, pursuant to Section 401(a)(9)(E) of the Internal Revenue Code of 1986, as amended, as the beneficiary of a deceased member and who is not the surviving spouse of the member, may elect, in accordance with Section 402(c)(11) of the Internal Revenue Code of 1986, as amended, to have a direct trustee-to-trustee transfer of any portion of such beneficiary's distribution from the Oklahoma Law Enforcement Retirement System made only to an individual retirement account or individual retirement annuity (other than an endowment contract) described in Section 408(a) or (b) of the Internal Revenue Code of 1986, as amended (IRA) (including, effective for distributions after December 18, 2015, a SIMPLE IRA, but only if such contribution occurs after the two-year period described in Section 72(t)(6) of the Internal Revenue Code of 1986, as amended, and is made in accordance with the Protecting Americans from Tax Hikes Act of 2015), or, effective for distributions after December 31, 2007, to a Roth individual retirement account or annuity described in Section 408A of the Internal Revenue Code of 1986, as amended (Roth IRA), that is established on behalf of such designated individual for the purpose of receiving the distribution. If such transfer is made, then: |1. For distributions made after December 31, 2006, but prior to July 1, 2010, the transfer is treated as an eligible rollover distribution for purposes of Section 402(c)(11) of the Internal Revenue Code of 1986, as amended. For plan years beginning after December 31, 2009, the transfer is treated as an eligible rollover distribution;2. The transferee IRA is treated as an inherited individual retirement account or an inherited individual retirement annuity (within the meaning of Section 408(d)(3)(C) of the Internal Revenue Code of 1986, as amended), and must be titled in the name of the deceased member, for the benefit of the beneficiary; and3. The required minimum distribution rules of Section 401(a)(9)(B), other than clause iv thereof, of the Internal Revenue Code of 1986, as amended, apply to the transferee IRA.B. A trust maintained for the benefit of one or more designated beneficiaries shall be treated in the same manner as a designated beneficiary.C. The Board shall promulgate such rules as are necessary to implement the provisions of this section.Added by Laws 2007, c. 152, § 9, eff. July 1, 2007. Amended by Laws 2009, c. 169, § 10, emerg. eff. May 11, 2009; Laws 2010, c. 437, § 10, emerg. eff. June 9, 2010; Laws 2011, c. 141, § 3, emerg. eff. April 29, 2011; Laws 2012, c. 52, § 3, emerg. eff. April 16, 2012; Laws 2017, c. 113, § 2, emerg. eff. April 26, 2017.
47 OK Stat § 47-2-305.1C (2021)
2021 Oklahoma Statutes|Title 47. Motor Vehicles|§47-2-305.1C. Direct payments for qualified health insurance premiums - Definitions - Rules.

|A. A member who is an eligible retired public safety officer and who wishes to have direct payments made toward the member's qualified health insurance premiums from the member's monthly disability benefit or monthly retirement payment must make a written election in accordance with Section 402(1) of the Internal Revenue Code of 1986, as amended, on the form provided by the Oklahoma Law Enforcement Retirement System, as follows: |1. The election must be made after the member separates from service as a public safety officer with the member's participating employer;2. The election shall only apply to distributions from the System after December 31, 2006, and to amounts not yet distributed to the eligible retired public safety officer;3. Direct payments for an eligible retired public safety officer's qualified health insurance premiums can only be made from the member's monthly disability benefit or monthly retirement payment from the System and cannot be made from the Oklahoma Law Enforcement Deferred Option Plan; and4. The aggregate amount of the exclusion from an eligible retired public safety officer's gross income is Three Thousand Dollars ($3,000.00) per calendar year.B. As used in this section:1. "Eligible retired public safety officer" is a member who, by reason of disability or attainment of normal retirement date or age, is separated from service as a public safety officer with the member's participating employer;2. "Public safety officer" means a member serving a public agency in an official capacity, with or without compensation, as a law enforcement officer, firefighter, chaplain, or a member of a rescue squad or ambulance crew; and3. "Qualified health insurance premiums" means premiums for coverage for the eligible retired public safety officer, the eligible retired public safety officer's spouse, and dependents, as defined in Section 152 of the Internal Revenue Code of 1986, as amended, by an accident or health plan or a qualified long-term care insurance contract, as defined in Section 7702B(b) of the Internal Revenue Code of 1986, as amended. The health plan does not have to be sponsored by the eligible retired public safety officer's former participating employer.C. The Board shall promulgate such rules as are necessary to implement the provisions of this section.Added by Laws 2007, c. 152, § 10, eff. July 1, 2007. Amended by Laws 2013, c. 16, § 1; Laws 2014, c. 37, § 1, emerg. eff. April 9, 2014.
47 OK Stat § 47-2-305.3 (2021)
2021 Oklahoma Statutes|Title 47. Motor Vehicles|§47-2-305.3. Increase in benefits.

|Any person receiving benefits from the Oklahoma Law Enforcement Retirement System as of June 30, 1993, shall receive a two and one-half percent (2 1/2%) increase in said benefits on July 1, 1994. |Added by Laws 1990, c. 340, § 21, eff. July 1, 1990. Amended by Laws 1994, c. 383, § 6, eff. July 1, 1994.
47 OK Stat § 47-2-305.5 (2021)
2021 Oklahoma Statutes|Title 47. Motor Vehicles|§47-2-305.5. Additional retirement benefit.

|A. Except as provided by subsection B of this section, the Oklahoma Law Enforcement Retirement System shall pay to its retirees, who retire not later than June 30, 1997, or their beneficiaries, from assets of the retirement system, an additional amount, for the fiscal year ending June 30, 1998, based upon the number of years of credited service upon which the retirement benefit of the member was computed as follows: |1. One Hundred Fifty Dollars ($150.00) for at least ten (10), but no more than fourteen (14) years of service;2. Three Hundred Dollars ($300.00) for at least fifteen (15), but no more than nineteen (19) years of service;3. Four Hundred Fifty Dollars ($450.00) for at least twenty (20), but no more than twenty-four (24) years of service; and4. Six Hundred Dollars ($600.00) for twenty-five (25) or more years of service.B. The Oklahoma Law Enforcement Retirement System shall pay to retirees, who retire not later than June 30, 1997, with a disability retirement benefit and having less than ten (10) years of service, the sum of One Hundred Fifty Dollars ($150.00).C. For purposes of subsection A or B of this section, months of credited service in excess of a whole number of years shall be disregarded for purposes of determining the applicable payment amount.D. The payment authorized by this section shall be distributed not later than August 1, 1997.E. The payment authorized by this section shall not be a recurring benefit and shall only be made for the fiscal year ending June 30, 1998, and for no other fiscal year.F. If a retiree has multiple beneficiaries, the amount prescribed by subsection A of this section shall be divided equally among the beneficiaries on a per capita basis.Added by Laws 1997, c. 384, § 21, eff. July 1, 1997.
47 OK Stat § 47-2-305.6 (2021)
2021 Oklahoma Statutes|Title 47. Motor Vehicles|§47-2-305.6. Benefit adjustment - Restoration of Initial COLA Benefit.

|A. For purposes of this section the following definitions shall apply: |1. "Initial COLA Benefit Date" means the later of the member's date of benefit commencement or January 1, 1981. This date is used in the definition of Initial COLA Benefit and Target COLA Benefit;2. "Initial COLA Benefit" means the accrued retirement benefit which will be used as the base benefit for determining the Target COLA Benefit. The Initial COLA Benefit equals the benefit in payment status as of the Initial COLA Benefit Date. Furthermore, this benefit will reflect adjustment for military service credits, if any, granted after the Initial COLA Benefit Date;3. "CPI-U" means the Consumer Price Index for all urban consumers for all goods and services, as published by the Bureau of Labor Statistics, U.S. Department of Labor. This is used as a measure of price inflation for the development of the Target COLA Benefit defined below; and4. "Target COLA Benefit" is the Initial COLA Benefit adjusted to reflect price inflation as measured by CPI-U. The Target COLA Benefit is calculated for each eligible member to equal the member's Initial COLA Benefit multiplied by a ratio of (A) divided by (B) as follows:(A) is the CPI-U as of July 1, 1997.(B) is the CPI-U as of July 1 of the calendar year of the Initial COLA Benefit Date.B. The Board shall, effective July 1, 1998, implement a benefit adjustment, to increase, if necessary, the retirement benefit for any person receiving benefits from the System as of June 30, 1997. This benefit adjustment is intended to restore one hundred percent (100%) of the loss of the Initial COLA Benefit, if any, due to price inflation, as measured by CPI-U. The benefit adjustment shall be one hundred percent (100%) of the amount by which the Target COLA Benefit is in excess, if any, of the June 1998 retirement benefit.Persons who retired after December 31, 1996 and before July 1, 1997, shall receive a benefit increase based on one-half (1/2) of the CPI-U change for the period beginning January 1, 1997 and before July 1, 1997.C. Any increase in benefits a person is eligible to receive pursuant to subsection B of Section 2-305 of Title 47 of the Oklahoma Statutes, after June 30, 1998, shall be offset by the increase in benefits, if any, provided by this section.Added by Laws 1998, c. 317, § 4, eff. July 1, 1998.
47 OK Stat § 47-2-305.7 (2021)
2021 Oklahoma Statutes|Title 47. Motor Vehicles|§47-2-305.7. Benefit increase - Offset.

|A. Except as provided in subsection B of this section, any person receiving benefits from the Oklahoma Law Enforcement Retirement System as of June 30, 1999, who continues to receive benefits on or after July 1, 2000, shall receive a three percent (3%) increase in said benefits on July 1, 2000. |B. Any increase in benefits a person is eligible to receive pursuant to subsection B of Section 2-305 of Title 47 of the Oklahoma Statutes, after June 30, 1998, shall be offset by the increase in benefits, if any, provided by this section.Added by Laws 2000, c. 377, § 8, eff. July 1, 2000.
47 OK Stat § 47-2-305.8 (2021)
2021 Oklahoma Statutes|Title 47. Motor Vehicles|§47-2-305.8. Increase in benefits – Amount - Offset.

|A. Except as provided in subsection B of this section, any person receiving benefits from the Oklahoma Law Enforcement Retirement System as of June 30, 2001, who continues to receive benefits on or after July 1, 2002, shall receive a five percent (5%) increase in said benefits on July 1, 2002. |B. Any increase in benefits a person is eligible to receive pursuant to Section 2-305 of Title 47 of the Oklahoma Statutes, after June 30, 2002, shall be offset by the increase in benefits, if any, provided by this section.Added by Laws 2002, c. 394, § 4, eff. July 1, 2002.
47 OK Stat § 47-2-305.9 (2021)
2021 Oklahoma Statutes|Title 47. Motor Vehicles|§47-2-305.9. Law Enforcement Retirement System - Increase in benefits.

|A. Except as provided in subsection B of this section, any person receiving benefits from the Oklahoma Law Enforcement Retirement System as of June 30, 2003, who continues to receive benefits on or after July 1, 2004, shall receive a four-percent increase in said benefits beginning in July 2004. |B. Any increase in benefits a person is eligible to receive pursuant to subsection B, C or D of Section 2-305 of Title 47 of the Oklahoma Statutes, after June 30, 2004, shall be offset by the increase in benefits, if any, provided by this section.Added by Laws 2004, c. 536, § 15, eff. July 1, 2004.
47 OK Stat § 47-2-305.10 (2021)
2021 Oklahoma Statutes|Title 47. Motor Vehicles|§47-2-305.10. Increase in benefits - July 1, 2006.

|A. Except as provided in subsection B of this section, any person receiving benefits from the Oklahoma Law Enforcement Retirement System as of June 30, 2005, who continues to receive benefits on or after July 1, 2006, shall receive a four-percent increase in said benefits beginning in July 2006. |B. Any increase in benefits a person is eligible to receive pursuant to subsection B, C or D of Section 2-305 of Title 47 of the Oklahoma Statutes, after June 30, 2006, shall be offset by the increase in benefits, if any, provided by this section.Added by Laws 2006, 2nd Ex. Sess., c. 46, § 8, eff. July 1, 2006.
47 OK Stat § 47-2-305.11 (2021)
2021 Oklahoma Statutes|Title 47. Motor Vehicles|§47-2-305.11. Increase in benefits - July 1, 2008 - Offset.

|A. Except as provided in subsection B of this section, any person receiving benefits from the Oklahoma Law Enforcement Retirement System as of June 30, 2007, who continues to receive benefits on or after July 1, 2008, shall receive a four-percent increase in said benefits beginning in July 2008. |B. Any increase in benefits a person is eligible to receive pursuant to subsection B, C or D of Section 2-305 of Title 47 of the Oklahoma Statutes, after June 30, 2008, shall be offset by the increase in benefits, if any, provided by this section.Added by Laws 2008, c. 415, § 4, eff. July 1, 2008.