Current through Vol. 41, No. 13, March 15, 2024
For a qualified domestic order to be accepted and binding on
the Teachers' Retirement System the order meet the following
requirements:
(1) The order must
clearly specify the following:
(A) the name
and last-known mailing address (if any) of the member and the name and mailing
address of the alternate payee covered by the order,
(B) the amount or percentage of the member's
benefits to be paid by Teachers' Retirement to the alternate payee,
(C) the number of payments or period to which
such order applies,
(D) the
characterization of the benefit as to marital property rights, and whether the
benefit ceases upon the death or remarriage of the alternate payee,
and
(E) each plan to which such
order applies.
(2) The
order meets the requirements of this section only if such order:
(A) does not require Teachers' Retirement to
provide any type or form of benefit, or any option not otherwise provided under
the state law as related to the Retirement System,
(B) does not require Teachers' Retirement to
provide increased benefits,
(C)
does not require the payment of benefits to an alternate payee which are
required to be paid to another alternate payee pursuant to another order
previously determined to be a qualified domestic order or an order recognized
by the Retirement System as a valid order prior to the effective date of this
subchapter, and
(D) does not
require payment of benefits to an alternate payee prior to the actual
retirement date of the related member or prior to the date the member elects to
receive a lump sum distribution of his or her retirement account.
Added at 10 Ok Reg 4829,
eff 9-17-93 through 7-14-94 (emergency)1; Added at
11 Ok Reg 4251, eff 7-25-94; Revoked at 29 Ok Reg 854, eff
8-1-12
1This emergency action expired
before being superseded by a permanent action. Upon expiration of an emergency
action enacting a new Section, the Section is no longer effective. Therefore,
on 7-15-94 (after the 7-14-94 expiration of the emergency action), the text of
section 715:10-25-3 was no longer effective, and remained as such until added
by permanent action on 7-25-94.
