Okla. Admin. Code § 715:10-5-34
Current through Vol. 42, No. 6, December 2, 2024
Section 715:10-5-34 - Credit for adjunct service in Higher Education(a) Pursuant to 70 O.S. §116.16, a TRS member who was employed in an adjunct position in an institution under The Oklahoma State System of Higher Education before joining the Retirement System may purchase service credit for that employment.(b) The member may purchase one year of service credit for each school year in which he or she worked a minimum of eighteen (18) credit hours in such an adjunct position, up to a maximum five (5) years. Such purchased service credit shall be considered contributing service for vesting and retirement.(c) The purchase price for eligible adjunct service credit shall be based upon actuarial cost as defined in OAC 715:10-5-4. All requests for billings to make payment for such service credit must be made while the member is an active contributing member or within sixty (60) days after the end of the member's employment in the public schools in Oklahoma and must be completed 90 days prior to the member's effective retirement date. No person may request a billing to initiate the purchase of service credit for such adjunct employment after the member's death.(d) The payments for such service credit may be made in one lump sum or in equal monthly installments for up to sixty (60) months, as provided in OAC 715:10-5-4 (9).Okla. Admin. Code § 715:10-5-34
Added at 18 Ok Reg 50, eff 10-3-00 (emergency); Added at 18 Ok Reg 3152, eff 7-12-01Amended by Oklahoma Register, Volume 40, Issue 22, August 1, 2023, eff. 9/11/2023Amended by Oklahoma Register, Volume 41, Issue 23, August 15, 2024, eff. 9/1/2024