Okla. Admin. Code § 715:10-7-2

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

Section 715:10-7-2 - Limitation of benefits to an inactive, vested member

A member who has a vested account, but who terminates employment and no longer remits contributions, has an "inactive-vested" account. An inactive-vested member is not entitled to the following:

(1) Statutory death benefit payable to the beneficiaries of an active member.

(2) Participation in the Teachers' Retirement System tax-sheltered annuity program.

(3) Option to elect, by the member's spouse, retirement benefits in lieu of a lump sum payment of account balance at the member's death.

(4) The purchase of any additional past service credits.

(5) Insurance coverage from the State and Education Employees Group Health Insurance Program, unless proper application is made for such coverage within thirty (30) days of termination of employment. (See Subchapter 23 of this chapter for more information about group health insurance.)

Okla. Admin. Code § 715:10-7-2