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 Oklahoma Statutes (Last Updated: September 18, 2014)
 Title 40. LABOR

  § 40-2-411. Retirement payments.  

Latest version.

  • RETIREMENT PAYMENTS.

    1.  Except for any payment or benefit payment made pursuant to the federal Social Security Act, an individual shall be disqualified for benefits for any week which begins in a period with respect to which such individual is receiving a governmental or other pension, retirement or retired pay, annuity or any other similar periodic retirement payment which is based on the previous work of such individual if:

    a.such pension, retirement or retired pay, annuity or similar payment is under a plan maintained, or contributed to, by a base period or chargeable employer; and

    b.in the case of such a payment not made under the Railroad Retirement Act of 1974, 45 U.S.C., Section 231 et seq., services performed for such employer by the individual after the beginning of the base period, or remuneration for such services, affect eligibility for or increase the amount of, such pension, retirement or retired pay, annuity or similar payment.

    2.  If the total of such remuneration is less than the benefits which would otherwise be due under the Employment Security Act of 1980, Section 1-101 et seq. of this title, the individual shall be entitled to receive for such week, if otherwise eligible, benefits reduced by the amount of such remuneration.

    3.  If payments referred to in this section are being received by an individual under the federal Social Security Act, the Commission shall take into account the individual's contribution to social security and make no reduction in the weekly benefit amount.

Added by Laws 1980, c. 323, § 2-411, eff. July 1, 1980.  Amended by Laws 1981, c. 259, § 8, emerg. eff. June 25, 1981; Laws 1982, c. 304, § 6, operative Oct. 1, 1982; Laws 1993, c. 46, § 1, emerg. eff. April 9, 1993; Laws 1995, c. 340, § 8, eff. July 1, 1995; Laws 2007, c. 354, § 4, eff. Nov. 1, 2007; Laws 2010, c. 179, § 4, emerg. eff. April 28, 2010.