Okla. Admin. Code § 715:10-15-10.1

Current through Vol. 42, No. 7, December 16, 2024
Section 715:10-15-10.1 - "Pop-up" of Option 2 or Option 3 retirement plans

If the designated joint annuitant under the Option 2 or 3 retirement plan dies at any time after the member's retirement date, but before the death of the member, the member shall return to the retirement benefit, including any postretirement benefit increases the member would have received had the member not selected the Option 2 or 3 retirement plan. In such an event, the member's monthly retirement benefit and any amount due at the death of the member shall be calculated as if the member had selected the Maximum retirement allowance. The increase in the member's monthly benefit becomes effective the first day of the month following the date of death of the designated joint annuitant and shall be payable for the member's remaining lifetime. The member shall notify TRS of the death of the designated joint annuitant in writing by providing a certified copy of the joint annuitant's death certificate. If the joint annuitant's death certificate has not yet been issued by the Medical Examiner, or for other good cause shown, the Executive Director of TRS may accept alternative documentation to establish proof of death for purposes of this section. In the absence of timely notice, TRS shall make retroactive benefit payments to the member, not to exceed six (6) months from the time the member first became eligible for increased benefits to the date notification is received. Notwithstanding any other provision, increased benefits will not be due for any period prior to July 1, 1994.

Okla. Admin. Code § 715:10-15-10.1

Added at 12 Ok Reg 295, eff 10-14-94 through 7-14-95 (emergency)1; Added at 12 Ok Reg 3285, eff 7-27-95
Amended by Oklahoma Register, Volume 36, Issue 22, August 1, 2019, eff. 8/11/2019
Amended by Oklahoma Register, Volume 41, Issue 23, August 15, 2024, eff. 9/1/2024
1This emergency action expired before being superseded by a permanent action.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 7-15-95 (after the 7-14-95 expiration of the emergency action), the text of section 715:10-15-10.1 was no longer effective, and remained as such until added by permanent action on 7-27-95.