Okla. Admin. Code § 715:10-7-1

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

Section 715:10-7-1 - [Effective until 9/14/2025] VESTING OF MEMBERSHIP IN TRS

(a) Individuals who became members of TRS after July 1, 1967 through October 31, 2017 and who have accumulated five (5) or more years of membership service pursuant to OAC 715:10-3-1 et seq. in the public schools of Oklahoma on which retirement contributions have been remitted and whose account had not closed prior to July 1, 2003, in accordance with 70 O.S. § 17-103(E) or OAC 715:10-7-3 shall be granted an indefinite extension of membership in TRS.

(b) Individuals who become members of TRS on or after November 1, 2017, and who have accumulated seven (7) or more years of membership service pursuant to OAC 715:10-3-1 et seq. in the public schools of Oklahoma on which retirement contributions have been remitted and whose account has not closed in accordance with 70 O.S. § 17-103(E) or OAC 715:10-7-3 shall be granted an indefinite extension of membership in TRS.

(c) Such membership is vested and shall remain open until the member retires or the contributions are withdrawn.

(d) Military and out-of-state service shall not be included in the years required for vesting.

(e) Any year of service obtained by the use of accumulated unused sick leave cannot be included in the years required for vesting.

(f) For members who join after July 1, 1991, Oklahoma service purchased after membership will not be counted for "vesting" purposes.

(g) Adjunct service in Higher Education performed prior to the date of the current membership account which is purchased under OAC 715:10-5-34 shall be considered membership service for purposes of vesting.

(h) Credit for service transferred under OAC 715:10-5-7.1 shall be considered membership service for purposes of vesting.

Okla. Admin. Code § 715:10-7-1

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

Amended at 34 Ok Reg 792, eff 7/28/2017 (emergency)

Amended by Oklahoma Register, Volume 35, Issue 24, September 4, 2018, eff. 9/14/2018

Amended by Oklahoma Register, Volume 42, Issue 5, November 15, 2024, eff. 10/15/2024, exp. 9/14/2025 (Emergency)