Oklahoma Administrative Code › Title 590 - Oklahoma Public Employees Retirement System › Chapter 10 - Public Employees Retirement System › Subchapter 7 - Retirement Benefits › Section 590:10-7-17 - Disability certification after early retirement

Current through Vol. 41, No. 20, July 1, 2024
(a) Effective January 1, 2004, a member who
				incurred a disability which would qualify that member for disability retirement
				benefits pursuant to subsection B. of Section
				915
				of Title 74 of the Oklahoma Statutes and who elected early retirement pending
				the receipt of the disability certification may elect to receive disability
				retirement in lieu of the previously selected early retirement. In order to be
				eligible for this election, the disability must have been incurred on or after
				July 1, 1999, and the member must meet all statutory requirements for
				disability retirement. The member's effective retirement date will not change,
				however, the member shall be entitled to receive the difference, if any, in the
				amount of the early benefit and the disability benefit as of the date the
				member would have been eligible for the disability benefit.
(b) The only retirement options available for
				disability retirement pursuant to subsection B. of Section
				915
				of Title 74 of the Oklahoma Statutes are a maximum benefit with no survivor
				options and Option A, with married members being required to elect to retire
				under Option A unless the member's spouse consents in writing to waive the
				survivor benefit and permit the member to receive the maximum benefit. A member
				who chooses to change his or her retirement from early to disability must
				maintain the survivor option selections originally chosen under early
				retirement to the extent permitted under the disability plan provisions and
				pursuant to this rule. The joint annuitant named at the time of early
				retirement cannot be changed.
(1) If the
				member, and the member's spouse if applicable, elected to receive the maximum
				retirement benefit with no survivor option at early retirement, the disability
				benefit will be paid as a maximum retirement benefit with no survivor option.
				Spouse consent for maximum benefits obtained at early retirement is effective
				for the disability retirement and no additional spouse consent is
				required.
(2) If the member, and
				the member's spouse if applicable, selected a retirement Option A at early
				retirement, the disability benefit will be paid as an Option A with the same
				named joint annuitant.
(3) If the
				member, and the member's spouse if applicable, selected a retirement Option B
				at early retirement, the disability benefit will be paid as an Option A with
				the same named joint annuitant under disability retirement. The member's named
				joint annuitant will be notified of the change to disability retirement under
				an Option A and of the reduction in the survivor benefit amount.
(4) If the member, and the member's spouse if
				applicable, selected a retirement Option C at early retirement, the disability
				benefit will be paid as a maximum retirement benefit with no survivor option.
				Since the member retains the right to change the named beneficiary for the
				Option C benefits and therefore the named beneficiary obtains no property
				rights, the spouse consent for Option C obtained at early retirement is
				effective for the maximum disability retirement and no additional spouse
				consent is required, however, the member's named beneficiary for Option C will
				be notified of the change to maximum disability retirement with no survivor
				benefit.