Okla. Admin. Code § 590:10-17-3

Current through Vol. 42, No. 8, January 2, 2025

Section 590:10-17-3 - Irrevocable election of Step-Up

(a) Eligible OPERS members may make an irrevocable election to Step-Up or increase their benefit computation factor from 2.0% to 2.5%. Participating members will not be permitted to revoke the Step-Up election or stop the Step-Up contributions once the election has been made. The election is considered to be made upon the earliest of OPERS receipt of a member's completed election form or deposit of the member's Step-Up contributions.

(b) The Step-Up election is an irrevocable election and is binding on all future participation in OPERS, even if there is a break in service, a change in jobs, a change in participating employers or a change in elected or non-elected status.

Okla. Admin. Code § 590:10-17-3

Added at 21 Ok Reg 1759, eff 6-11-04

Amended by Oklahoma Register, Volume 34, Issue 24, September 1, 2017, eff. 9/11/2017