reglab/housing_qa huggingface dataset:
74 OK Stat § 74-920B (2021)
2021 Oklahoma Statutes|Title 74. State Government|§74-920B. Remittance of retirement contributions.

|A. All participating employers shall remit to the Oklahoma Public Employees Retirement System all required retirement contributions due on a monthly basis. All employee contributions withheld shall be considered trust funds held by the employer on behalf of the employee and shall be promptly remitted to the System pursuant to subsection B of this section. |B. For non-state agency employers, all required employer and employee contributions and supporting documentation are due and must be received by the System on or before the fifteenth day of the month following the month for which the contributions are due. For state agency employers, all required employer and employee contributions and supporting documentation are due and must be received by the System on or before the fifteenth day following the last day of the payroll period for which said contributions are due.C. Employer and employee contributions remitted to the System after thirty (30) days from the due dates set forth in subsection B of this section shall be subject to a monthly late charge of three percent (3%) of the unpaid balance to be paid by the employer to the System.Added by Laws 2004, c. 536, § 28, eff. July 1, 2004. Amended by Laws 2011, c. 75, § 2.
74 OK Stat § 74-921 (2021)
2021 Oklahoma Statutes|Title 74. State Government|§74-921. Oklahoma Public Employees Retirement Fund - Management - Warrants and vouchers - Retirement Medical Benefit Fund.

|A. All employee and employer contributions and dedicated revenues shall be deposited in a fund in the State Treasury which is hereby created and shall be known as the Oklahoma Public Employees Retirement Fund. The Board of Trustees shall have the responsibility for the management of the Oklahoma Public Employees Retirement Fund, and may transfer monies used for investment purposes by the Oklahoma Public Employees Retirement System from the Oklahoma Public Employees 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 Public Employees Retirement System, refunds of contribution and overpayments, and all administrative expenses in connection with the System shall be paid from the Oklahoma Public Employees Retirement Fund upon warrants or vouchers signed by two persons designated by the Board of Trustees. All salaries and expenses of the administration of the State Employees Deferred Compensation Plan and the Deferred Savings Incentive Plan, including marketing and participant education, shall be paid from the Oklahoma Public Employees Retirement Fund. The Oklahoma Public Employees Retirement Fund shall be reimbursed for such expenses, on at least an annual basis, in accordance with the procedure established by the Board. The Board of Trustees may transfer monies from the custodian bank or trust company of the System to the Oklahoma Public Employees Retirement Fund in the State Treasury for the purposes specified in this subsection.C. There is hereby created the Retirement Medical Benefit Fund. The fund shall be maintained as a subaccount of the Oklahoma Public Employees Retirement Fund. The Retirement Medical Benefit Fund is composed of all assets which may be contributed to this subaccount to pay the retirement system's portion of the monthly retiree health insurance premium benefit described by Section 1316.2 of this title. All such allocated assets and any earnings thereon in the Retirement Medical Benefit Fund shall be held for the exclusive purpose of providing retiree medical benefits. The Retirement Medical Benefit Fund is to be administered in accordance with the requirements of Section 401(h) of the Internal Revenue Code of 1986, as amended from time to time. The Board of Trustees may promulgate such rules as are necessary to implement the funding and administration of the fund pursuant to the provisions of this subsection.Added by Laws 1963, c. 50, § 21, emerg. eff. May 6, 1963. Amended by Laws 1969, c. 349, § 8, emerg. eff. May 13, 1969; Laws 1982, c. 227, § 6, emerg. eff. May 4, 1982; Laws 1983, c. 6, § 4, emerg. eff. Feb. 24, 1983; Laws 1983, c. 201, § 2, operative July 1, 1983; Laws 1987, c. 236, § 191, emerg. eff. July 20, 1987; Laws 1988, c. 321, § 37, operative July 1, 1988; Laws 1994, c. 351, § 8, eff. July 1, 1994; Laws 1996, c. 55, § 3, eff. July 1, 1996; Laws 1999, c. 257, § 44, eff. July 1, 1999.
74 OK Stat § 74-922.1 (2021)
2021 Oklahoma Statutes|Title 74. State Government|§74-922.1. Revolving fund.

|There is hereby created in the State Treasury a Revolving Fund for the Oklahoma Public Employees Retirement System. The revolving fund shall consist of funds transferred from the Oklahoma Public Employees Retirement Fund for operational expenses of the System. Expenditures from said funds shall be made pursuant to the laws of the state and statutes relating to the System. This revolving fund shall be a continuing fund, not subject to fiscal year limitations, and shall be under the control and management of the Oklahoma Public Employees Retirement System Board. |Added by Laws 1982, c. 263, § 5, emerg. eff. May 14, 1982.
74 OK Stat § 74-924 (2021)
2021 Oklahoma Statutes|Title 74. State Government|§74-924. False statements - Errors.

|Any person who shall knowingly make any false statement, or who shall falsify or permit to be falsified any record necessary for carrying out the intent of this act for the purpose of committing fraud, shall be guilty of a misdemeanor, and upon conviction shall be punished by a fine not exceeding Five Hundred Dollars ($500.00) or by imprisonment for not exceeding one (1) year. Should any error in any records of the Oklahoma Public Employees Retirement System result in any member or beneficiary receiving more or less than he would have been entitled to receive had the records been correct, the Board shall correct such error, and, as far as practicable, make future payments in such manner that the actuarial equivalent of the benefit to which such member or beneficiary was entitled shall be paid, and to this end may recover any overpayments. The agency shall charge interest on any overpayments in an amount not to exceed the actuarially assumed interest rate adopted by the Board for investment earnings each year. Interest charges may be waived upon the approval of the Executive Director. |Added by Laws 1963, c. 50, § 24, emerg. eff. May 6, 1963. Amended by Laws 2017, c. 94, § 3, eff. Nov. 1, 2017.
74 OK Stat § 74-925 (2021)
2021 Oklahoma Statutes|Title 74. State Government|§74-925. Membership as condition of employment.

|All employees of participating employers who are eligible or may hereafter become eligible to be members of the system as provided by this act shall, as a condition of continuing employment or as a condition of obtaining employment with a participating employer, become members of the system. |Added by Laws 1963, c. 50, § 25, emerg. eff. May 6, 1963.
74 OK Stat § 74-929 (2021)
2021 Oklahoma Statutes|Title 74. State Government|§74-929. Vending stand operators and managers - Eligibility and enrollment in system.

|A. Any person who is licensed by the Department of Rehabilitation Services as a vending stand operator or managing operator shall be eligible for membership in the Oklahoma Public Employees Retirement System established by Sections 901 through 928 of this title. Enrollment in the System shall be optional with each operator under regulations prescribed by the Oklahoma Public Employees Retirement System Board of Trustees. Persons who elect to participate in the Oklahoma Public Employees Retirement System pursuant to the provisions of this section shall be considered as state employees only for retirement purposes and shall make contributions pursuant to the provisions of Section 919.1 of this title. Any payment or contributions to be made for members of the System shall be payable by the operator in such manner as may be determined by the Department of Rehabilitation Services, and shall not be a responsibility or liability of the Department of Rehabilitation Services; provided that, the Department may, in its discretion, make all or a part of such payments. |B. Any person first licensed under this section on or after November 1, 2015, shall not be eligible for membership in the Oklahoma Public Employees Retirement System established by Sections 901 through 928 of this title, but such person shall be eligible for participation in the defined contribution plan as set forth in Section 2 of Enrolled House Bill No. 2630 of the 2nd Session of the 54th Oklahoma Legislature, as amended by Section 2 of this act.Added by Laws 1974, c. 9, § 1, emerg. eff. April 2, 1974. Amended by Laws 1983, c. 283, § 14, operative July 1, 1983; Laws 1998, c. 107, § 6, eff. July 1, 1998; Laws 2014, c. 419, § 1, eff. Nov. 1, 2014.
74 OK Stat § 74-930.4 (2021)
2021 Oklahoma Statutes|Title 74. State Government|§74-930.4. Additional retirement benefit.

|A. Except as provided by subsection B of this section, the Oklahoma Public Employees Retirement System shall pay to its retirees, who retire not later than June 30, 1997, or their joint annuitant, 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 Public Employees 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 joint annuitants, 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, § 22, eff. July 1, 1997.
74 OK Stat § 74-930.5 (2021)
2021 Oklahoma Statutes|Title 74. State Government|§74-930.5. Cost of living adjustment - Calculation.

|A. It is the intent of the Legislature to provide a cost of living adjustment to retirants of the Oklahoma Public Employees Retirement System which reflects a replacement of the loss of purchasing power, while remaining consistent with the basic benefit formula of the System. |B. To fulfill the intent as set forth in subsection A of this section, every person receiving retirement benefits from the System as of June 30, 1997, who continues to receive benefits on or after July 1, 1998, shall receive an increase in retirement benefits as follows:1. Persons who have been retired ten (10) years or less will receive two and one-half percent (2.5%) of the retirement benefit on July 1, 1998, multiplied by the number of years the member has been retired;2. Persons who have been retired in excess of ten (10) years will receive two and one-half percent (2.5%) of the retirement benefit on July 1, 1998, multiplied by ten (10);3. For purposes of calculating the increase, the member's effective retirement date will be utilized, provided further, that a fractional year of six (6) months or more shall be considered as one (1) year and less than six (6) months shall be disregarded;4. The increase provided in this section shall become effective with the July 1998 benefit payment.Added by Laws 1998, c. 317, § 15, eff. July 1, 1998.
74 OK Stat § 74-930.6 (2021)
2021 Oklahoma Statutes|Title 74. State Government|§74-930.6. Calculation of retirement benefit increase.

|Any member receiving retirement benefits from the System as of June 30, 1999, who continues to receive benefits on or after July 1, 2000, shall receive an increase in retirement benefits to be computed as follows: |1. Multiply One Thousand Two Hundred Eighty-three Dollars ($1,283.00) by two percent (2%);2. Multiply the sum of paragraph 1 by the number of years of credited service of the member;3. Divide the sum of paragraph 2 by twelve (12) and this shall be the increase in the monthly retirement benefit; and4. This increase shall be adjusted to reflect any options selected by the member at the time of retirement.Added by Laws 2000, c. 377, § 14, eff. July 1, 2000.
74 OK Stat § 74-930.7 (2021)
2021 Oklahoma Statutes|Title 74. State Government|§74-930.7. Increase in benefits - Amount.

|A. Except as otherwise provided by this section, any person receiving retirement benefits from the Oklahoma Public Employees Retirement System as of June 30, 2001, who continues to receive benefits on or after July 1, 2002, shall, beginning in July 2002, receive an increase in retirement benefits equal to five percent (5%). |B. Any person who is otherwise eligible for the benefit increase provided in subsection A of this section, who retired from the System with not less than twenty-five (25) years nor more than twenty-nine (29) years of service, shall receive, in lieu of the benefit increase provided in subsection A of this section, an increase in retirement benefits equal to five and five-tenths percent (5.5%) beginning July 2002.C. Any person who is otherwise eligible for the benefit increase provided in subsection A of this section, who retired from the System with thirty (30) or more years of service, shall receive, in lieu of the benefit increase provided in subsection A of this section, an increase in retirement benefits equal to six percent (6%) beginning July 2002.Added by Laws 2002, c. 394, § 5, eff. July 1, 2002.
74 OK Stat § 74-930.8 (2021)
2021 Oklahoma Statutes|Title 74. State Government|§74-930.8. Public Employees Retirement System - Increase of benefits.

|Beginning July 1, 2004, any person receiving benefits from the Oklahoma Public Employees Retirement System as of June 30, 2003, who continues to receive benefits on or after July 1, 2004, shall receive a percentage increase in said benefits on July 1, 2004, as follows: |Years of ServiceMonthly Benefitof the Retired Memberas of June 30, 2004Benefit Increase20 years or moreLess than $1,500.004.5%$1,500.00 to $2,500.004.0%Over $2,500.003.5%15 to 19 yearsLess than $1,000.004.0%$1,000.00 to $2,000.003.5%Greater than $2,000.003.0%Less than 15 years$800.00 or less3.5%$800.01 to $1,499.993.0%$1,500.00 or greater2.5%Added by Laws 2004, c. 536, § 31, eff. July 1, 2004.
74 OK Stat § 74-930.9 (2021)
2021 Oklahoma Statutes|Title 74. State Government|§74-930.9. Increase in benefits - July 1, 2006.

|Any person receiving benefits from the Oklahoma Public Employees 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. |Added by Laws 2006, 2nd Ex. Sess., c. 46, § 10, eff. July 1, 2006.
74 OK Stat § 74-930.10 (2021)
2021 Oklahoma Statutes|Title 74. State Government|§74-930.10. Increase in benefits - July 1, 2008.

|Any person receiving benefits from the Oklahoma Public Employees 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. |Added by Laws 2008, c. 415, § 6, eff. July 1, 2008.
74 OK Stat § 74-930.11 (2021)
2021 Oklahoma Statutes|Title 74. State Government|§74-930.11. Increase in benefits – July 1, 2020 - Offset.

|Any person receiving benefits from the Oklahoma Public Employees Retirement System as of June 30, 2019, who continues to receive benefits on or after July 1, 2020, shall receive an increase in benefits as follows: |1. Zero percent (0%) if the person has been retired for less than two (2) years as of July 1, 2020;2. Two percent (2%) if the person has been retired for at least two (2) years but less than five (5) years as of July 1, 2020; and3. Four percent (4%) if the person has been retired for five (5) years or more as of July 1, 2020.Added by Laws 2020, c. 121, § 7, eff. July 1, 2020.
74 OK Stat § 74-931.1 (2021)
2021 Oklahoma Statutes|Title 74. State Government|§74-931.1. Reissuance of canceled warrants.

|Warrants issued for retirement benefits or withdrawal of accumulated contributions that have been canceled by statute may be reissued at any time after cancellation upon submission of the cancelled warrant to the Board. |Laws 1980, c. 317, § 11, eff. July 1, 1980.
74 OK Stat § 74-932 (2021)
2021 Oklahoma Statutes|Title 74. State Government|§74-932. Confidential information.

|Except for the member's name, age, amount of contributions paid in, benefits being paid, amount of credited service and any documents verifying credited service or benefits, all information, documents and copies thereof contained in a member's retirement file shall be given confidential treatment and shall not be made public by the System without the prior written consent of the member to which it pertains, but shall be subject to subpoena or court order. Notwithstanding any provision to the contrary, the System may release tax information returns of a deceased member to a person acting in a fiduciary capacity on behalf of the decedent or the decedent's estate for the purposes of filing a tax return, a court-appointed personal representative or administrator of the decedent's estate, the person responsible for an intestate estate, a trustee of a valid trust document, the decedent's prior attorney-in-fact, the spouse of the decedent, the decedent's court-appointed guardian, or some other person acting on behalf of the decedent. |Laws 1976, c. 207, § 8, emerg. eff. June 7, 1976. Amended by Laws 2004, c. 302, § 6, emerg. eff. May 13, 2004; Laws 2021, c. 190, § 7, eff. Nov. 1, 2021.
74 OK Stat § 74-935 (2021)
2021 Oklahoma Statutes|Title 74. State Government|§74-935. Statewide organization - General mailings to retired members.

|Any statewide organization limited to state employee membership with a minimum membership of one thousand (1,000) dues-paying members may annually send one general mailing to all retired members of the Oklahoma Public Employees Retirement System and shall pay for the total cost. The Board of Trustees and any qualifying organization under this section shall agree on the method of providing a list of retired members of the system and their addresses to accomplish the mailing, while preserving the confidentiality of the list. Such an agreement may include providing the list to a third party in the business of providing mailing services if the third party agrees to maintain the confidentiality of the list. The System shall not be held responsible or be liable to retired members for providing the names and addresses as provided herein. |Added by Laws 2004, c. 454, § 1, eff. July 1, 2004.
74 OK Stat § 74-935.1 (2021)
2021 Oklahoma Statutes|Title 74. State Government|§74-935.1. Short title - Retirement Freedom Act.

|This act shall be known and may be cited as the "Retirement Freedom Act". |Added by Laws 2014, c. 375, § 1, eff. Nov. 1, 2014.
74 OK Stat § 74-935.3 (2021)
2021 Oklahoma Statutes|Title 74. State Government|§74-935.3. Internal Revenue Service recognition.

|The Board of Trustees of the Oklahoma Public Employees Retirement System (Board) shall take whatever action is reasonable and necessary to have the defined contribution system authorized by this act to be recognized as a tax-qualified plan as that term is defined by Section 401 et seq. of Title 26 of the United States Code, or any other applicable provisions of federal law. The Board is also authorized to establish a plan or use an existing plan established under Section 457(b) of Title 26 of the United States Code, if it is necessary to carry out the intent of this act. The Board shall take whatever action is reasonable and necessary to obtain confirmation from the Internal Revenue Service that any such 457(b) plan is consistent with the requirements of Section 457(b). |Added by Laws 2014, c. 375, § 3, eff. Nov. 1, 2014.
74 OK Stat § 74-935.4 (2021)
2021 Oklahoma Statutes|Title 74. State Government|§74-935.4. Employee contribution percentages.

|A. Employee contributions to the defined contribution retirement system shall consist of a minimum of four and five-tenths percent (4.5%) of compensation. |B. Employee contributions to the defined contribution retirement system that are eligible for an employer match shall not exceed a percentage, based on the employee's compensation, which would exceed the maximum amount allowed pursuant to Section 415 of the Internal Revenue Code of 1986, as amended.Added by Laws 2014, c. 375, § 4, eff. Nov. 1, 2014. Amended by Laws 2015, c. 303, § 2, eff. Nov. 1, 2015.
74 OK Stat § 74-935.5 (2021)
2021 Oklahoma Statutes|Title 74. State Government|§74-935.5. Employer match.

|A. Except as otherwise provided by subsection B of this section, employers of employees who become participants in the defined contribution retirement system shall match the employee contribution paid on a monthly or more frequent basis at the rate of six percent (6.0%) based on the same compensation amount used to compute the employee contribution amount. |B. If an employee selects a contribution rate of seven percent (7.0%) or more, but not higher than allowed pursuant to the maximum annual contribution limit prescribed by Section 415 of the Internal Revenue Code of 1986, as amended, the employer matching amount shall be seven percent (7.0%).C. The initial four and five-tenths percent (4.5%) employee contribution shall be the only mandatory contribution of an employee participating in the defined contribution retirement system created by this act. These funds shall be placed by the System in either a 401(a) plan or a 457(b) plan, to be determined by the Board to maintain the plan consistent with the Internal Revenue Code. Any employee contributions eligible to be matched under this section over the four and five-tenths percent (4.5%) initial contribution shall be considered voluntary deferrals of compensation and placed in a 457(b) plan. All employer matching funds shall be placed in a 401(a) plan.Any contribution rate that is more than the four and five-tenths percent (4.5%) rate can be chosen by the participating employee upon the employee's initial participation, and can be changed once per month. The employee contribution rate chosen shall continue until the employee elects to change the contribution rate or terminates service or retires.D. The employer match as set forth in subsection A of this section may be increased at any time by the Legislature without affecting the then-existing rights of participating employees and beneficiaries in order to encourage participating employees to accumulate deferred income reserves for themselves and their dependents. The employer match may be decreased at any time by the Legislature without affecting the then-existing rights of participating employees and beneficiaries in order to provide funding as may be needed to reduce the unfunded liabilities of the defined benefit plan as set forth in Section 901 et seq. of this title, but shall not be less than six percent (6.0%) for any year during which the defined contribution plan is maintained.Added by Laws 2014, c. 375, § 5, eff. Nov. 1, 2014. Amended by Laws 2015, c. 303, § 3, eff. Nov. 1, 2015; Laws 2016, c. 267, § 1, eff. Nov. 1, 2016.