Oklahoma Administrative Code
Title 590 - Oklahoma Public Employees Retirement System
Chapter 10 - Public Employees Retirement System
Subchapter 15 - Limited Retirement Benefit
Section 590:10-15-4 - Subsequent payment of limited benefits

Universal Citation: OK Admin Code 590:10-15-4

Current through Vol. 41, No. 13, March 15, 2024

Within ninety (90) days after the effective date of this rule, the Board will implement the following procedures for the payment of the Limited Benefit:

(1) The Board shall cause to be sent a letter of eligibility to each Limited Eligible Member who had not previously been provided a letter of eligibility. The letter of eligibility will contain the following:

(A) The amount of the Excess Contributions determined by the System;

(B) The amount and duration of the Limited Benefit payments;

(C) A description of the expected effective date of the first Limited Benefit payment to coincide with the payment of the third Regular Retirement Benefit;

(D) A description of the appropriate tax treatment of the Limited Benefit.

(2) In the event a Limited Eligible Member disputes the amount of Excess Contributions determined by the System as set forth in the letter of eligibility, the Limited Eligible Member shall provide a written objection to the Board within 30 days of the date of the letter of eligibility. The objection shall set forth the basis for the objection, including the specific error and the amount the Limited Eligible Member believes is correct. The Board shall respond to the objection within 30 days. If the Limited Eligible Member is aggrieved by the decision, the exclusive remedy is through the administrative hearing procedures as provided in 590:1-1-6.

(3) The Board will direct that the Limited Benefit be paid to the Limited Eligible Member as stated in the letter of eligibility provided that the Limited Eligible Member begins to receive a Regular Retirement Benefit.

Added at 18 Ok Reg 548, eff 12-28-00 through 7-14-01 (emergency); Added at 18 Ok Reg 3258, eff 7-26-01

Disclaimer: These regulations may not be the most recent version. Oklahoma may have more current or accurate information. We make no warranties or guarantees about the accuracy, completeness, or adequacy of the information contained on this site or the information linked to on the state site. Please check official sources.
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