Okla. Stat. tit. 11 § 50-109

Current through Laws 2024, c. 378.

Section 50-109 - [Effective 7/1/2025] Appropriation of percentage of annual salary of member of System

Any municipality participating in the Oklahoma Police Pension and Retirement System shall appropriate funds, for the use and benefit of the System, as provided in the following schedule:

1. Prior to July 1, 1991, a minimum of ten percent (10%) of the actual paid base salary of each member of the System employed by the municipality;

2. Beginning July 1, 1991, a minimum of ten and one-half percent (10 1/2%) of the actual paid base salary of each member of the System employed by the municipality;

3. Beginning July 1, 1992, a minimum of eleven percent (11%) of the actual paid base salary of each member of the System employed by the municipality;

4. Beginning July 1, 1993, a minimum of eleven and one-half percent (11 1/2%) of the actual paid base salary of each member of the System employed by the municipality;

5. Beginning July 1, 1994, a minimum of twelve percent (12%) of the actual paid base salary of each member of the System employed by the municipality;

6. Beginning July 1, 1995, a minimum of twelve and one-half percent (12 1/2%) of the actual paid base salary of each member of the System employed by the municipality;

7. Beginning July 1, 1996, a minimum of thirteen percent (13%) of the actual paid base salary of each member of the System employed by the municipality; and

8. Beginning on the effective date of this act, a minimum of fourteen percent (14%) of the actual paid base salary of each member of the System employed by the municipality.

The sum appropriated shall be paid online to the System within ten (10) days following the payroll period on which the contribution is based.

The state shall make such appropriation as is necessary to assure the retirement benefits provided by the article.

Okla. Stat. tit. 11, § 50-109

Amended by Laws 2024, c. 357,s. 3, eff. 7/1/2025.

Amended by Laws 2023 , c. 53, s. 1, eff. 11/1/2023.

Added by Laws 1977, HB 1100, c. 256, § 50-109, eff. 7/1/1978; Amended by Laws 1980, SB 278, c. 356, § 14, eff. 1/1/1981. Amended by Laws 1990, SB 810, c. 340, § 7, emerg. eff. 7/1/1990.

This section is set out more than once due to postponed, multiple, or conflicting amendments.