OK SB616

Allows certain members of the Oklahoma Public Employees Retirement System to receive military service credit for periods of active military service even if they previously withdrew contributions from the system.

Grants prior service credit for active military service (not to exceed 5 years) to members whose initial membership began before July 1, 2000, who terminated employment before military service and withdrew contributions, provided they later reentered the system.

Applies the same restrictions as existing law: military service credit used for retirement benefits in OPERS cannot be used in other public retirement systems, and members may receive credit only in the first system from which they retire.

Becomes effective July 1, 2011, with an emergency clause declaring immediate necessity for preservation of public peace, health and safety.