Okla. Admin. Code § 590:15-1-5

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

Section 590:15-1-5 - Final benefit and Death benefit

(a) The retirement benefit payable for the month of death of a member or survivor shall be payable to said member or survivor, whichever is applicable. In the event the final benefit is returned to the System or is not otherwise paid, said benefit will be paid to the member's estate or survivor's estate, whichever is applicable.

(b) The four thousand dollars ($4,000) death benefit available for any retired member who dies on or after July 20, 1987, shall be payable to the beneficiary listed by the member or to the member's estate. This beneficiary designation is not affected by any designation of joint-annuitant, deferred compensation beneficiary or insurance beneficiary, unless otherwise specifically designated in writing by member. For any retired member who died on or after July 1, 1999, the death benefit amount shall be five thousand dollars ($5,000).

Amended at 12 Ok Reg 3245, eff 7-27-95; Amended at 17 Ok Reg 609, eff 12-2-99 through 7-14-00 (emergency); Amended at 17 Ok Reg 3183, eff 7-27-00; Amended at 22 Ok Reg 131, eff 10-6-04 (emergency); Amended at 22 Ok Reg 1363, eff 5-26-05; Amended at 23 Ok Reg 1485, eff 5-25-06