OK HB1268

Licensed emergency medical personnel (EMRs, EMTs, paramedics), deputy sheriffs, and county jailers with at least 20 years of creditable service may elect to participate in the Oklahoma Public Employees Deferred Option Plan instead of retiring

Participation in the deferred option plan is limited to a maximum of 5 years, during which employee contributions cease but employer contributions continue

Monthly retirement benefits that would have been payable accumulate in the participant's account, and participants remain eligible for cost-of-living adjustments

Upon completing the deferred option period, participants must terminate employment and may receive their account balance as a lump sum, transfer to an annuity provider, or through other Board-approved methods

If a participant dies during the deferral period, the account balance is paid to designated beneficiaries or a surviving spouse married to the participant for at least 30 continuous months (waived for line-of-duty deaths)