Oklahoma Administrative Code
Title 590 - Oklahoma Public Employees Retirement System
Chapter 10 - Public Employees Retirement System
Subchapter 5 - Contributions and Compensation
Section 590:10-5-3 - Required contributions

Prior to July 1, 1998, a member who chose to increase his or her maximum annual compensation level for service prior to July 1, 1994 must have paid the required statutory contributions on all compensation received each year above $25,000 up to the maximum $40,000, plus interest in the amount of seven and one-half percent (7 1/2%) compounded annually. Said interest accrues from the date of the members initial opportunity to make the election. The election is not considered complete until all required contributions and interest have been paid, unless terminated by operation of law.

Amended at 12 Ok Reg 3237, eff 7-27-95; Amended at 16 Ok Reg 610, eff 12-2-98 (emergency); Amended at 16 Ok Reg 2010, eff 6-11-99