Okla. Stat. tit. 11 § 49-143.2

Current through Laws 2024, c. 453.

Section 49-143.2 - Additional retirement benefit

A. The Oklahoma Firefighters Pension and Retirement System shall pay to its retirees, who retire not later than June 30, 1997, or their beneficiaries, from assets of the retirement system, an additional amount, for the fiscal year ending June 30, 1998, based upon the number of years of credited service upon which the retirement benefit of the member was computed as follows:

1. For paid firefighters:

a. One Hundred Fifty Dollars ($150.00) for at least ten (10), but no more than fourteen (14) years of service,

b. Three Hundred Dollars ($300.00) for at least fifteen (15), but no more than nineteen (19) years of service,

c. Four Hundred Fifty Dollars ($450.00) for at least twenty (20), but no more than twenty-four (24) years of service, and

d. Six Hundred Dollars ($600.00) for twenty-five (25) or more years of service.

2. For volunteer firefighters:

a. Seventy-five Dollars ($75.00) for at least ten (10), but no more than fourteen (14) years of service,

b. One Hundred Fifty Dollars ($150.00) for at least fifteen (15), but no more than nineteen (19) years of service,

c. Two Hundred Twenty-five Dollars ($225.00) for at least twenty (20), but no more than twenty-four (24) years of service, and

d. Three Hundred Dollars ($300.00) for twenty-five (25) or more years of service;

3. One Hundred Fifty Dollars ($150.00) for a paid firefighter with less than ten (10) years of service who received a disability retirement; and

4. Seventy-five Dollars ($75.00) for a volunteer firefighter with less than ten (10) years of service who received a disability retirement.

B. For purposes of subsection A or B of this section, months of credited service in excess of a whole number of years shall be disregarded for purposes of determining the applicable payment amount.

C. The payment authorized by this section shall be distributed not later than August 1, 1997.

D. The payment authorized by this section shall not be a recurring benefit and shall only be made for the fiscal year ending June 30, 1998, and for no other fiscal year.

E. If a retiree has multiple beneficiaries, the amount prescribed by subsection A of this section shall be divided equally among the beneficiaries on a per capita basis.

Okla. Stat. tit. 11, § 49-143.2

Added by Laws 1997, HB 1895, c. 384, § 19, emerg. eff. 7/1/1997.