Statutes, codes, and regulations
Oklahoma Administrative Code
Title 590 - Oklahoma Public Employees Retirement SystemChapter 15 - Uniform Retirement System for Justices and Judges
Subchapter 1 - General Provisions
Section 590:15-1-20 - Employee contributions vested; forfeiture

Okla. Admin. Code § 590:15-1-20

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Current through Vol. 42, No. 8, January 2, 2025
Section 590:15-1-20 - Employee contributions vested; forfeiture
(a)Vesting of contributions. A plan member shall be one hundred percent (100%) vested in his or her accumulated contributions at all times in compliance with Section 401(a)(7) of the Internal Revenue Code.
(b)Forfeitures under Internal Revenue Code. In conformity with section 401(a)(8) of the Internal Revenue Code, any forfeitures of benefits by members or former members of the plan will not be used to pay benefit increases. However, such forfeitures shall be used to reduce employer contributions.

Okla. Admin. Code § 590:15-1-20

Added at 27 Ok Reg 1040, eff 5-13-10