Okla. Admin. Code § 715:10-25-3

Current through Vol. 42, No. 7, December 16, 2024

Section 715:10-25-3 - Contents of qualified domestic order

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.

Okla. Admin. Code § 715:10-25-3

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

Adopted by Oklahome Register, Volume 33, Issue 23, August 15, 2016, eff. 8/25/2016

¹This emergency action expired before being superseded by a permanent action.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.