Okla. Admin. Code § 715:10-7-3

Current through Vol. 42, No. 7, December 16, 2024

Section 715:10-7-3 - [Effective until 9/14/2025] Termination of non-vested membership accounts because of absence

Membership in TRS for non-vested members shall terminate when the non-vested member ceases to be an active contributing member for any period of five (5) consecutive school years in a six (6) consecutive school year period.

(1) If employment terminates with the close of the school term, the five (5) year period of absence shall begin with the next fiscal year. If employment ends during the school term, the period of absence shall begin the first day of the month that follows termination.

(2) After a non-vested member is absent from employment in the public schools of Oklahoma for five (5) years during any period of six (6) consecutive years, the member's Teachers' Retirement System account shall be closed with no rights to monthly retirement benefits. The member's contributions should be withdrawn as no interest accrues on accounts closed because of absence from employment.

(3) A member whose absence exceeds five (5) years due to military service shall be granted an eighteen (18) month extension, from date of discharge, to re-enter Oklahoma public education employment in order to retain membership in Teachers' Retirement System.

Okla. Admin. Code § 715:10-7-3

Amended by Oklahoma Register, Volume 42, Issue 5, November 15, 2024, eff. 10/15/2024, exp. 9/14/2025 (Emergency)