Okla. Admin. Code § 590:40-9-2

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

Section 590:40-9-2 - Catch-up election

(a)Limited catch-up election. The Plan shall provide for a limited catch-up election which will permit a Participant to defer the lesser of two times the applicable IRS limit for the year or the alternate catch-up limit.

(b)Availability. This election is only available once. A Participant may use the catch-up limitation only if not previously used under this or any other plan. The election may be made no sooner than the last three taxable years immediately preceding the taxable year in which the Participant reaches normal retirement age as defined in 590:40-5-17. The election can be made with respect to all three (3) years.

Adopted by Oklahoma Register, Volume 32, Issue 24, September 1, 2015, eff. 9/11/2015