Oklahoma § 70-17-104 Credit for years of service — Prior service credits.

Oklahoma Statutes

§ 70-17-104 — Credit for years of service — Prior service credits.

Oklahoma·Title 70 Schools

A.The Board of Trustees of the Teachers’ Retirement System of Oklahoma shall fix and determine by appropriate rules and regulations how much service in any year is equivalent to one (1) year of service, but in no case shall more than one (1) year of service be creditable for all services in one (1) school year. Service rendered for a regular school year shall be equivalent to one (1) year of service.

B.If a member who has previously withdrawn service returns to service in Oklahoma and completes one (1) year of membership service credit, the member may reestablish prior service credit by redepositing the amount formerly withdrawn, with the interest at ten percent (10%) per annum. No member shall be permitted to redeposit prior service more than one time.

C.The Board of Trustees may adopt

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A. The Board of Trustees of the Teachers’ Retirement System of Oklahoma shall fix and determine by appropriate rules and regulations how much service in any year is equivalent to one (1) year of service, but in no case shall more than one (1) year of service be creditable for all services in one (1) school year. Service rendered for a regular school year shall be equivalent to one (1) year of service. B. If a member who has previously withdrawn service returns to service in Oklahoma and completes one (1) year of membership service credit, the member may reestablish prior service credit by redepositing the amount formerly withdrawn, with the interest at ten percent (10%) per annum. No member shall be permitted to redeposit prior service more than one time. C. The Board of Trustees may adopt such other rules and regulations to verify, process, and credit the service herein claimed.

Oklahoma § 70-17-104 (Credit for years of service — Prior service credits.) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.

Legislative History

Added by Laws 1969, c. 157, § 4, operative Aug. 2, 1969. Amended by Laws 1970, c. 77, § 1, emerg. eff. March 20, 1970; Laws 1989, c. 327, §1, eff. July 1, 1989; Laws 2024, c. 300, § 3, eff. July 1, 2024.