SB 498 Summary

• Amends Oklahoma county retirement system law (19 O.S. 2011, Sections 952, 956, and 958) to modify references and clarify terminology regarding county retirement system members and employees.

• Changes normal retirement eligibility language from "employee" to "member" and modifies references from "act" to "title" for consistency with statutory structure.

• Expands military service credit eligibility to comply with the Uniformed Services Employment and Reemployment Rights Act (USERRA) of 1994 and Internal Revenue Code Section 414(u).

• Allows county boards of trustees and county commissioners to adopt resolutions that take precedence over statutory provisions to ensure compliance with federal retirement plan qualification requirements.

• Takes effect November 1, 2013.