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 Oklahoma Statutes (Last Updated: September 18, 2014)
 Title 20. COURTS

  § 20-1104E. Increase in retirement benefits.  

Latest version.

  • Every 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.

Added by Laws 1985, c. 335, § 8, emerg. eff. July 30, 1985.  Amended by Laws 1990, c. 340, § 20, eff. July 1, 1990; Laws 1994, c. 383, § 5, eff. July 1, 1994.