Okla. Admin. Code § 715:1-1-18

Current through Vol. 42, No. 7, December 16, 2024
Section 715:1-1-18 - Retirement benefit reduction to pay a judgment or settlement as an offset

The Board of Trustees may approve an offset of a member's benefit to pay a judgment or settlement against the member for a crime involving the System, for a breach of the member's fiduciary duty to the System, or for funds or monies incorrectly paid to a member or a beneficiary by mistake. Such offsets will be made in accordance with any applicable state statutes and requirements of Section 401(a)(13) of the Internal Revenue Code of 1986.

Okla. Admin. Code § 715:1-1-18

Added at 17 Ok Reg 202, eff 9-8-99 (emergency); Added at 17 Ok Reg 3068, eff 7-13-00