Okla. Admin. Code § 590:10-13-2
The following words or terms, when used in this Subchapter, shall have the following meaning, unless the context clearly indicates otherwise:
"Code" means the Internal Revenue Code of 1986, as amended from time to time and as applicable to governmental plans and the relevant regulatory provisions and guidance related thereto.
"Earnings" means an amount to be transferred along with the Excess Contributions which amount represents the actuarial assumed annual earnings of the System of seven and one-half percent (7 1/2 %), calculated upon the principal amount of Excess Contributions, and compounded at least annually on the principal Excess Contributions until the date of transfer.
"Eligible Member" means a member of the System who was an active participating employee on July 1, 1998, and whose compensation for services exceeded Twenty-five Thousand Dollars ($25,000) per annum prior to July 1, 1994, and who, prior to July 1, 1998, had voluntarily elected to pay retirement contributions on the maximum compensation level pursuant to statutes in effect at that time, provided such retirement contributions remain on deposit with the System as of the date of the transfer.
"Excess Contributions" means the contributions made by an Eligible Member on compensation in excess of Twenty-five Thousand Dollars ($25,000) per annum prior to June 30, 1994, that remain on deposit with the System as of the date of the transfer, and includes both Pre-tax Excess Contributions and Post-tax Excess Contributions.
"Incentive Plan" means the Oklahoma State Employees Deferred Savings Incentive Plan.
"Pre-tax Excess Contributions" means the Excess Contributions which were picked up by the employer under the provisions of Code Section 414(h)(2).
"Post-tax Excess Contributions" means the Excess Contributions which were employee contributions and which were not picked up by the employer under the provisions of Code Section 414(h)(2).
"Private Letter Ruling" means the private letter ruling issued by the Internal Revenue Service to the Board.
"System" means the Oklahoma Public Employees Retirement System.
"Transfer Legislation" means Enrolled Senate Bill 295, as it amends Section 910.5 of Title 74 of the Oklahoma Statutes.
Okla. Admin. Code § 590:10-13-2