Okla. Admin. Code § 715:10-5-9

Current through Vol. 42, No. 6, December 2, 2024

Section 715:10-5-9 - Re-establishing withdrawn service

After re-establishing participation in TRS, a member may redeposit a withdrawn account to re-establish service previously withdrawn from the system. For purposes of this section the following shall apply:

(1) A "classified" or "non-classified" member (except as noted in paragraph 2 of this section) who has returned to public education employment and has established one full year (twelve calendar months) of creditable Oklahoma service, is eligible to redeposit withdrawn contributions. A redeposit of withdrawn contributions must include all applicable interest, which shall be computed at a simple interest rate of ten percent (10%) per annum from the date of the withdrawal to the date repayment is made.

(2) Non-classified members who voluntarily withdrew from membership in TRS without terminating employment in the public schools of Oklahoma, are not eligible to redeposit or purchase past service for any period of employment between the date of the membership period covered by the withdrawn account and the date of return to membership in TRS.

(3) Prior to July 1, 2021, non-classified members who voluntarily ceased monthly contributions to TRS while continuing to be employed in an eligible position shall be considered to have withdrawn from membership. On or after July 1, 2021, non-classified members who irrevocably elected out of TRS membership while continuing to be employed in an eligible position shall be considered to have withdrawn from membership. Members with withdrawn accounts under this subsection are not eligible to redeposit or purchase past service for any period of employment between the date of the membership period covered by the withdrawn account and any future date of return to membership in TRS, if any.

(4) Requests for redeposits should be made to TRS in writing. The request must include the name in which the service was rendered, the TRS Member ID number or Social Security number, and the number of years withdrawn.

(5) Documentation of this service is on file with TRS and will be verified by the staff. Service that cannot be verified must be purchased under the rule for establishing service prior to membership.

(6) Repayments of withdrawn accounts may be made by active contributing members of TRS in a single lump sum, which includes the withdrawn contributions and all applicable interest, or in installment payments. Such installment payments may be paid in 12-month increments but shall be completed within 60 months. The member shall be responsible for maintaining the payment schedule. Payments are due on the first day of each month. A monthly installment not paid within sixty (60) days of the due date will result in immediate termination of the installment payment schedule. The member will be given the option of paying the remaining balance within six (6) months. If the balance is not paid in full in the remaining six (6) month period, the redeposit will be canceled. Installment payments shall include interest based upon actuarial assumptions adopted by the TRS Board of Trustees. No proration is allowed for partial payments. For any incomplete redeposit, the amount paid by the member shall be refunded without interest.

(7) Redepositing of withdrawn accounts in a lump sum or on an installment plan basis must be completed, and all payments received by TRS, ninety (90) days prior to the member's effective retirement date.

(8) No person may make a redeposit to a member's account after the death of the member.

Okla. Admin. Code § 715:10-5-9

Amended at 10 Ok Reg 3879, eff 7-12-93; Amended at 12 Ok Reg 295, eff 10-14-94 through 7-14-95 (emergency)¹; Amended at 12 Ok Reg 3285, eff 7-27-95; Amended at 16 Ok Reg 743, eff 10-5-98 through 7-14-99 (emergency)²; Amended at 16 Ok Reg 3567, eff 9-13-99; Amended at 19 Ok Reg 2729, eff 7-11-02; Amended at 29 Ok Reg 854, eff 8-1-12

Amended by Oklahome Register, Volume 33, Issue 23, August 15, 2016, eff. 8/25/2016

Amended by Oklahoma Register, Volume 36, Issue 22, August 1, 2019, eff. 8/11/2019

Amended by Oklahoma Register, Volume 39, Issue 24, September 1, 2022, eff. 9/11/2022

Amended by Oklahoma Register, Volume 41, Issue 23, August 15, 2024, eff. 9/1/2024

1This emergency action expired before being superseded by a permanent action. Upon expiration of an emergency amendatory action, the last prior permanent text is reinstated. Therefore, on 7-15-95 (after the 7-14-95 expiration of the emergency action), the text of section 715:10-5-9 reverted back to the permanent text that became effective 7-12-93, and remained as such until amended by permanent action on 7-27-95.

2This emergency action expired before being superseded by a permanent action. Upon expiration of an emergency amendatory action, the last prior permanent text is reinstated. Therefore, on 7-15-99 (after the 7-14-99 expiration of the emergency action), the text of section 715:10-5-9 reverted back to the permanent text that became effective 7-27-95, as was last published in the 1996 Edition of the OAC, and remained as such until amended by permanent action on 9-13-99.