SB 616 Summary

• Allows members of the Oklahoma Public Employees Retirement System (OPERS) who previously withdrew contributions and served in the Armed Forces to receive up to 5 years of military service credit, even if they initially terminated employment before military service and withdrew their contributions.

• Enables members to receive prior service credit for years of service with a participating employer after January 1, 1975, if they are not receiving credit for the same time in any other state or county retirement system.

• Renumbers existing subsections (5) through (8) to (6) through (9) to accommodate the new military service credit provision while maintaining the structure of 74 O.S. 2001, Section 913.

• Effective July 1, 2012, with an emergency clause declaring the act necessary for preservation of public peace, health, and safety, allowing it to take effect immediately upon passage and approval.