Section 1104E - Increase in retirement benefitsEvery person receiving retirement benefits from the System as of June 30, 1993, shall receive on July 1, 1994, an increase in retirement benefits to be computed as follows:
1. Multiply Seven Hundred Eighty Dollars ($780.00) by four percent (4%);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;4. This increase shall be adjusted to reflect any options selected by the member at the time of retirement.Okla. Stat. tit. 20, § 1104E
Added by Laws 1985, HB 1061, c. 335, § 8, emerg. eff. 7/30/1985; Amended by Laws 1990, SB 810, c. 340, § 20, emerg. eff. 7/1/1990; Amended by Laws 1994, HB 2228, c. 383, § 5, emerg. eff. 7/1/1994.