SB609

Oklahoma SB609 allows members of certain retirement systems to transfer credited service to the Oklahoma Police Pension and Retirement System.

Oklahoma SB609 amends the Oklahoma Police Pension and Retirement System to allow members to transfer up to five years of credited service from other specified retirement systems, including out-of-state systems, into the Oklahoma Police Pension and Retirement System. This transfer is subject to the member's request and results in the forfeiture of all rights in the Oklahoma Police Pension and Retirement System. Contributions from employees and cities prior to January 1, 1981, are not transferable. The transfer does not affect the member's normal retirement date or vesting requirements.