General Provisions

Oklahoma City Municipal Code ch. 40, art. III, div. 1, pt. B

in effect

Oklahoma City Municipal Code § 40-57 Applicability of increased benefits to be prospective only.

§ 40-57. - Applicability of increased benefits to be prospective only. The provisions of this division providing for increased benefits shall be prospective only. All rights and benefits of a Participant whose Termination of Employment, as herein defined, occurred prior to February 6, 2001, shall be determined solely by the provisions in effect at the time of that Termination of Employment, including the benefit rate in effect at the time of such Termination of Employment, unless otherwise specifically provided herein. (Ord. No. 21916, § 2, 2-12-02)

Oklahoma City Municipal Code § 40-58 Trust fund.

§ 40-58. - Trust fund. All monies provided for the System shall be paid to and received by the City Treasurer for the use and benefit of the System as a trust fund. All assets of the System shall be held in trust for the exclusive purpose of providing benefits for the Participants and beneficiaries of the System, including defraying reasonable expenses of administering the System, and shall not be encumbered for or diverted to any other purpose. At no time prior to the satisfaction of all liabilities with respect to Participants and their beneficiaries under the trust, shall any part of the corpus or income of the fund be used for, or diverted to, purposes other than for the exclusive benefit of the Participants or their beneficiaries. (Ord. No. 21916, § 2, 2-12-02)

Oklahoma City Municipal Code § 40-59 Reserved.

Oklahoma City Municipal Code § 40-60 Retirement Systems participation.

§ 40-60. - Retirement Systems participation. Except as provided below, all Employees of the City must participate in either the System as defined in Section 40-51 or, if eligible under Section 40-61, in a Money Purchase Plan and Trust as defined in Section 40-51. A "leased employee" as defined in Section 40-51 shall receive credit for service for the entire period during which he/she is a leased employee of the City as if he/she were an Employee of the City; provided, however, any individual who agrees with the City that the individual's services are to be performed as a "leased employee" or an independent contractor will not be eligible to participate regardless of any classification of such individual as a common-law employee by the Internal Revenue Service, the Department of Labor or any court of competent jurisdiction. Furthermore, individuals who are employed as inmate labor and individuals employed by or through First Step and other such similar organizations, or in positions where they are active members of the systems described in 11 O.S. §§ 49-100.1, et seq., or 11 O.S. §§ 50-101, et seq., are not eligible to participate in the System. (Ord. No. 21916, § 2, 2-12-02; Ord. No. 23463, § 2, 10-9-07; Ord. No. 27732, § 2, 11-19-24)

Oklahoma City Municipal Code § 40-61 Employees eligible to withdraw from System.

§ 40-61. - Employees eligible to withdraw from System. (a) The following employees may elect to participate in a money purchase plan and trust as defined in § 40-51: (1) all City Council appointees; and (2) personnel covered by the Executive Employee Pay Plan, effective December 16, 1986, and subsequent amendments thereto; and (3) all Employees in the City Auditor's pay plan in range 701 and above (auditor and above); and (4) department heads and assistant department heads in the management pay plan; and (5) all Employees in the Municipal Counselor's pay plan in range 611 and above (assistant municipal counselor I's and the law office administrator and above); and (6) effective January 1, 2024, all Employees on the Oklahoma City Zoological Trust Pay Plan in the classifications of Executive Director, and persons occupying chief officer positions reporting directly to the Executive Director; and (7) all employees in the Management Pay Plan in Range 513 and above; and (8) effective January 1, 2025, all employees of the System. (b) Employees now or in the future occupying any of the positions set forth in Subsection (a) above may elect to: (1) remain in the System; or (2) withdraw as a contributing member from the System and participate in the Money Purchase Plan and Trust approved by the City Council. Any Employee who elects to withdraw from the System and participate in the Money Purchase Plan and Trust may make his or her election to withdraw from the System and participate in the Money Purchase Plan and Trust at any time while the Employee meets the eligibility requirements for participation in the Money Purchase Plan and Trust. The election as provided for above shall be made in writing with the City, and shall be irrevocable. (c) Employees withdrawing from the system shall be entitled to the return of their Employee Contribution Accounts. (d) A participant having a vested right in the System may elect to leave his or her Employee Contribution Account with said System and no provisions in this article shall be construed as requiring one with vested rights to withdraw his/her Employee Contribution Account from the System. (e) Employees participating in the Money Purchase Plan and Trust and not the System shall contribute to the Money Purchase Plan and Trust an amount not less than that amount required of any employee participating only in the System. (Ord. No. 21916, § 2, 2-12-02; Ord. No. 22264, § 1, 7-1-03; Ord. No. 23463, § 2, 10-9-07; Ord. No. 23758, § 2, 12-9-08, eff. 1-1-09; Ord. No. 27456, § 1, 11-7-23; Ord. No. 27732, § 2, 11-19-24)

Oklahoma City Municipal Code § 40-62 Payment of City appropriations into funds.

§ 40-62. - Payment of City appropriations into funds. (a) Effective March 2, 2001, the City shall appropriate a sum equal to seven percent of the Compensation of the Employees participating in the System named in Section 40-51. Effective September 1, 2001, the City shall appropriate a sum equal to seven percent of Compensation of the Employees participating in the Money Purchase Plan and Trust - Open Plan named in Section 40-51. Any appropriations so made shall be deferred wages but may not exceed statutory limits imposed by Oklahoma Statutes or United States Statutes. (b) Effective January 1, 2006, the City shall appropriate a sum annually and pay it into the retirement plan named in Section 40-51(32) of this Code. The sum shall be equal to the contribution determined under the individual entry age normal cost method, as determined by the System's annual actuarial evaluation. Any funding surplus will be amortized and applied as a credit to the employer's normal cost contribution; and any funding deficit will be amortized and added to the employer's normal cost contribution, as determined by the System's annual actuarial evaluation. The employer portion of the contribution shall not exceed ten percent of the annual Compensation of the Employees participating in the System. Any appropriations so made shall be deferred wages but may not exceed statutory limits imposed by Oklahoma Statutes or United States Statutes. (c) Effective March 2, 2001, the City shall appropriate a sum equal to eight and thirty-five one-hundredths percent of Compensation of the Employees participating in the Money Purchase Plan and Trust - Closed Plan named in Section 40-51. (d) Notwithstanding the foregoing provisions of this section, the City's promises to appropriate and/or pay funds for retirement purposes hereunder shall be subject to Council's budgetary discretion pursuant to the Municipal Budget Act, 11 O.S. §§ 17-201, et seq., or any successor statutory act, and specifically subject to Council's budgetary discretion pursuant to 11 O.S., § 17-209(A), or any successor statutory provision. The provisions of this section shall never be construed as creating a binding obligation on the City to appropriate or pay City funds in violation of Okla. Const. Art. X, § 26. (Ord. No. 21916, § 2, 2-12-02; Ord. No. 23463, § 2, 10-9-07; Ord. No. 25482, § 3, 10-25-16; Ord. No. 27732, § 2, 11-19-24)

Oklahoma City Municipal Code § 40-63 Account to be non-fiscal and not mandatory.

§ 40-63. - Account to be non-fiscal and not mandatory. The account of the System shall be a non-fiscal account. There is no mandatory requirement upon the part of the City to make any contribution whatsoever for the benefits of either the System or plans or Money Purchase Plan and Trust, except as provided in Section 40-62. (Ord. No. 21916, § 2, 2-12-02)

Oklahoma City Municipal Code § 40-64 Proration if insufficient funds.

§ 40-64. - Proration if insufficient funds. In the event the funds in the System are insufficient to make full payment in the amount of retirement benefit allowances to all persons entitled thereto, then the funds shall be prorated among those entitled thereto as the Board of Trustees may deem just and equitable. (Ord. No. 21916, § 2, 2-12-02)

Oklahoma City Municipal Code § 40-65 Retirement Benefits to Employees generally.

§ 40-65. - Retirement Benefits to Employees generally. (a) Prior to July 1, 1980, there shall be paid monthly to a Participant who is eligible to retire basic Retirement Benefits equal to 40 percent of his/her Average Final Compensation, plus any supplemental payment for which the Participant might be eligible under Section 40-65(c). In no event shall this basic retirement benefit exceed $500.00 per month nor shall the supplement exceed the amount of $125.00 per month for Participants retiring on or before June 30, 1980; however, on July 1, 1980, and thereafter there shall not be a maximum limit on basic or supplemental Retirement Benefits. (b) On or after July 1, 1980, but prior to December 1, 1997, a Participant who has served ten or more years but less than 20 years shall be entitled to receive annual Retirement Benefits payable monthly calculated based on two percent of his/her Average Final Compensation, as defined in Section 40-51(2), for each full year of service, which amount shall be subject to a reduction of four percent of the Retirement Benefits for each full year or a portion of a year in which payments are begun prior to his/her Normal Retirement Age. (c) Supplemental benefit. There shall be added as a supplement to the Retirement Benefits of each Participant an amount equal to one percent of his/her Average Final Compensation for each complete year in excess of 20 years served with the City, up to a maximum of 20 percent of his/her Average Final Compensation. This supplemental benefit shall be prospective and apply only to those individuals applying for Retirement Benefits on or after June 18, 1991 but before December 1, 1997. (d) On or after December 1, 1997, but prior to March 1, 2001, any Participant who has served ten and up to and including 20 years shall be entitled to receive annual Retirement Benefits, payable monthly, with calculations based on two percent of his/her Average Final Compensation, as defined in Section 40-51(2), for each year of service (treating each whole month of service as one-twelfth of two percent), which amount shall be subject to a reduction of four percent of the Retirement Benefits for each full year or a portion of a year in which payments are begun prior to his/her Normal Retirement Age. (e) On or after December 1, 1997, but prior to March 1, 2001, any Participant who has served more than 20 years shall be credited with a supplement to his/her Retirement Benefits in an amount equal to one percent for each whole year of service in excess of 20 (treating each whole month of service as one-twelfth of one percent) of his/her Average Final Compensation, as defined in Section 40-51(2), up to a maximum of 20 percent of his/her Average Final Compensation. The supplemental benefit, along with the amount calculated under Section 40-65(d), which amount shall be subject to a reduction of four percent of the Retirement Benefits for each full year or a portion of a year in which payments are begun prior to his/her Normal Retirement Age. (f) On or after March 1, 2001, any Participant who has served five or more years shall be entitled to receive annual Retirement Benefits, payable monthly, with calculations based on two percent of his/her Average Final Compensation, for each year of service up to a maximum of 100 percent of his/her Average Final Compensation, treating each whole month of service as one-twelfth of two percent as defined in section 40-51(2), with said amount then subject to a reduction of four percent of the Retirement Benefits for each full year or a portion of a year in which payments are begun prior to his/her Normal Retirement Age. (g) If the requirements of Section 40-88 are satisfied, a Participant who, by reason of Retirement, is separated from service as a public safety officer with the City, may elect to have payment made directly to the provider for qualified health insurance premiums by deduction from his or her monthly Retirement Benefits, after December 31, 2006, in accordance with Code Section 402(l). For distributions made after December 29, 2022, the election provided for under Code Section 402(l) may be made whether payment of the premiums is made directly to the provider of the accident or health plan or qualified long-term care insurance contract by deduction from a distribution from the System or is made to the Participant. (Ord. No. 21916, § 2, 2-12-02; Ord. No. 23463, § 2, 10-9-07; Ord. No. 27456, § 2, 11-7-23; Ord. No. 27732, § 2, 11-19-24)

Oklahoma City Municipal Code § 40-66 Retirement Benefits for Employees serving prior to March 1, 1967.

§ 40-66. - Retirement Benefits for Employees serving prior to March 1, 1967. (a) In order for an Employee serving prior to March 1, 1967, to be eligible for basic Retirement Benefits, he/she must qualify under one of the following sets of conditions: (1) he/she must have served with the City for a period of: a. 20 years and attained the age of 60 years while in the service of the City; or b. 30 years, regardless of age; and c. the last five years of service preceding his/her Retirement must have been consecutive within the meaning of Section 40-75; and d. his/her service with the City must have ceased. (2) his/her service with the City must have ceased; and: a. he/she must have completed five years under the System with the City during which time he/she made contributions to the System; and b. upon leaving the service of the City he/she must have left his/her Employee Contribution Account with the System; and c. he/she must have reached the age of 60 years. (b) An Employee qualifying under Paragraph (2) of Subsection (a) above who has served less than 20 years shall receive a fraction of the basic retirement pay he/she would otherwise be entitled to receive, computed at the rate of five percent of the basic retirement pay for each full year he/she has served. An Employee who is discharged and has served 20 years and is otherwise eligible to retire, except that he/she has not attained the age of 60 years, shall be eligible for retirement pay as provided herein at the age of 60 years. (Ord. No. 21916, § 2, 2-12-02)

Oklahoma City Municipal Code § 40-67 Retirement Benefits for Employees beginning service on or after March 1, 1967, and incurring a Termination of Employment on or before February 28, 2001.

§ 40-67. - Retirement Benefits for Employees beginning service on or after March 1, 1967, and incurring a Termination of Employment on or before February 28, 2001. An Employee beginning his/her service on or after March 1, 1967, and incurring a Termination of Employment on or before February 28, 2001, is eligible for Retirement Benefits when he/she can qualify under one of the following sets of conditions: (a) he/she must have served with the City for a period of: (1) 20 or more years, and have attained the age of 65 years; or (2) 30 years, regardless of age, and his/her service with the City must have ceased; or (b) his/her service with the City must have ceased; and: (1) he/she must have completed ten years of service under the System with the City; and (2) upon leaving the service of the City he/she must have left his/her Employee Contribution Account with the System; and (3) he/she must have attained the age of 65 years; and (4) the last five years of service preceding his/her retirement must have been consecutive within the meaning of Section 40-75. (Ord. No. 21916, § 2, 2-12-02)

Oklahoma City Municipal Code § 40-68 Normal Retirement Benefits for Employees incurring a Termination of Employment on or after March 1, 2001.

§ 40-68. - Normal Retirement Benefits for Employees incurring a Termination of Employment on or after March 1, 2001. An Employee terminating service on or after March 1, 2001, is eligible for Retirement Benefits when he/she can qualify under the following conditions (subject to the Employee's full vesting upon attainment of his/her Normal Retirement Age as described in Section 40-70): (a) he/she must have: (1) served with the City for a period of five or more years, and attained the age of 65, or he/she must have served with the City for a period of 25 years, regardless of his/her age (for each Employee hired by the City prior to January 1, 2008 and not rehired by the City on or after January 1, 2008); or (2) earned five (5) Consecutive Years of Vesting Service and attained the age of 65, or he/she must have served with the City for a period of 25 years of Vesting Service, regardless of his/her age (for each Employee hired or rehired by the City on or after January 1, 2008); and (b) his/her service with the City must have ceased as further described in Section 40-83; and (c) upon leaving the service of the City, he/she must have left his/her Employee Contribution Account with the System; and (d) subject to Section 40-83, the last five years of service preceding his/her retirement must: (1) have been consecutive within the meaning of Section 40-75 (for each Employee hired by the City prior to January 1, 2008 and not rehired by the City on or after January 1, 2008); and (2) be five Consecutive Years of Vesting Service (for each Employee hired or rehired by the City on or after January 1, 2008). (Ord. No. 21916, § 2, 2-12-02; Ord. No. 23463, § 2, 10-9-07; Ord. No. 26063, § 1, 12-18-18)

Oklahoma City Municipal Code § 40-69 Early Retirement Benefits for Employees incurring a Termination of Employment on or after March 1, 2001.

§ 40-69. - Early Retirement Benefits for Employees incurring a Termination of Employment on or after March 1, 2001. An Employee terminating service on or after March 1, 2001, may elect early retirement and be eligible for Retirement Benefits when he/she can qualify under the following conditions: (a) he/she must have: (1) served with the City for a period of five or more years and attained the age of 55 (for each Employee hired by the City prior to January 1, 2008 and not rehired by the City on or after January 1, 2008); or (2) earned five Consecutive Years of Vesting Service and attained the age of 55 (for each Employee hired or rehired by the City on or after January 1, 2008); and (b) his/her service with the City must have ceased as further described in Section 40-83; and (c) upon leaving the service of the City, he/she must have left his/her Employee Contribution Account with the System; and (d) subject to Section 40-83, the last five years of service preceding his/her retirement must: (1) have been consecutive within the meaning of Section 40-75 (for each Employee hired by the City prior to January 1, 2008 and not rehired by the City on or after January 1, 2008); and (2) be five Consecutive Years of Vesting Service (subject to Section 40-83, for each Employee hired or rehired by the City on or after January 1, 2008). An Employee eligible under this subsection shall have Retirement Benefits that are subject to a reduction of four percent for each full year or portion of a year in which payments are begun prior to his/her Normal Retirement Age. (Ord. No. 21916, § 2, 2-12-02; Ord. No. 23463, § 2, 10-9-07; Ord. No. 26063, § 2, 12-18-18)

Oklahoma City Municipal Code § 40-70 Termination option; vesting.

§ 40-70. - Termination option; vesting. (a) Vesting. When an Employee's service terminates after five years of Vesting Service, but before his/her Normal Retirement Age, his/her Employee Contributions to the System shall cease. For each Employee hired or rehired by the City on or after January 1, 2008, five years of service in the preceding sentence shall mean five Consecutive Years of Vesting Service. He/she may elect either (1) to leave his/her Employee Contribution Account on deposit with the System and be a Deferred Vested Participant, or (2) to receive, in lieu of all other benefits, a refund of his/her Employee Contribution Account. If a Participant makes an election to receive a refund of his/her Employee Contribution Account, he/she shall receive payment no earlier than 91 days after his/her date of Termination of Employment and provided such Participant is not an employee of the City in any capacity at the time of the refund and has not been employed by the City in any capacity since his/her date of Termination of Employment. Effective January 1, 2012, an Employee is fully vested upon attainment of his/her Normal Retirement Age. (b) Deferred Vested Participant. If such a Participant fails to elect either (1) or (2) under Section 40-70(a) within 90 days after his/her Termination of Employment, he/she shall be deemed to have elected to leave his/her Employee Contribution Account, regardless of amount, on deposit with the System and become a Deferred Vested Participant. A Deferred Vested Participant shall be entitled to a deferred Retirement Benefit. Such deferred Retirement Benefit shall be payable commencing on the Deferred Vested Participant's Normal Retirement Age. A Deferred Vested Participant may elect at any time prior to his/her Normal Retirement Age, to receive, in lieu of all other benefits, a refund of his/her Employee Contribution Account. (c) Early commencement. In lieu of receiving the deferred retirement benefit upon his/her normal retirement date, the deferred vested participant may elect to receive a reduced retirement benefit beginning anytime subsequent to his/her attainment of age 55 with at least five years, but less than 25 years of service. For each employee hired or rehired by the City on or after January 1, 2008, 25 years of service in the preceding sentence shall mean 25 Consecutive Years of Vesting Service. The reduction shall be as provided in Section 40-69. (d) Determination of Retirement Benefit for Re-employed Deferred Vested Participant. (1) Re-employed Prior to January 1, 2008: Each re-employed Deferred Vested Participant who began his/her subsequent period of service prior to January 1, 2008, shall have his/her Retirement Benefit based upon his/her Average Final Compensation. A Deferred Vested Participant who subsequently re-enters service may qualify to receive additional service credits under Section 40-75 for any subsequent period or periods of consecutive employment. (2) Re-employed On or After January 1, 2008: a. Without Five Consecutive Years of Vesting Service. Each re-employed Deferred Vested Participant who begins his/her subsequent period of service on or after January 1, 2008, must have five Consecutive Years of Vesting Service in order to obtain a vested right in the years of service acquired during the subsequent employment period, otherwise, upon the Participant's subsequent Termination of Employment, the Deferred Vested Participant shall only be entitled to receive a refund of his/her Employee Contribution Account attributable to the period of re-employment. Such Deferred Vested Participant's Retirement Benefit shall be based on the prior period of employment only, which Retirement Benefit will be determined in accordance with the System's formula and Average Final Compensation for computing the Retirement Benefit and the ordinances in effect at the Participant's prior termination of employment. b. With Five Consecutive Years of Vesting Service. If the re-employed Deferred Vested Participant obtains five Consecutive Years of Vesting Service during the Participant's subsequent period of employment, the Deferred Vested Participant shall vest for the subsequent period of employment and upon his/her subsequent Termination of Employment, his/her Retirement Benefit shall be determined based on the System's formula and Average Final Compensation for computing the Retirement Benefit and the ordinances in effect at the Participant's subsequent Termination of Employment if a greater benefit is produced, and if not, the total Retirement Benefit will be determined by adding the Retirement Benefit as calculated at the prior Termination of Employment plus the subsequent Retirement Benefit calculated at the time of the subsequent Termination of Employment to determine each portion of the Retirement Benefit. (e) No Commencement of Retirement Benefits While Employed. A Deferred Vested Participant may not commence Retirement Benefits at any time while he/she is employed as an Employee of the City. (f) Death of Deferred Vested Participant While Re-employed. In the event a Deferred Vested Participant dies while re-employed, then the Participant's Retirement Benefit shall be payable in accordance with Section 40-73. (g) Death of Deferred Vested Participant. In the event of the death of any Deferred Vested Participant who had not been awarded retirement pay but was eligible because he/she had attained the age of 55 prior to death, the surviving spouse of that deceased Deferred Vested Participant may elect to receive monthly, as a Joint Annuitant pursuant to Option A as described in Sections 40-71 and 40-72, for life, the amount of the Retirement Benefit for which the Participant would have been eligible at the time of death under the provisions of Section 40-65. However, if the Deferred Vested Participant had not been eligible at the time of death to receive retirement pay, the surviving spouse is entitled to a refund of the Deferred Vested Participant's Employee Contribution Account. (Ord. No. 21916, § 2, 2-12-02; Ord. No. 22486, § 1, 7-7-04; Ord. No. 23463, § 2, 10-9-07; Ord. No. 23758, § 2, 12-9-08, eff. 1-1-09; Ord. No. 24499, § 1, 7-31-12; Ord. No. 26063, § 3, 12-18-18)

Oklahoma City Municipal Code § 40-71 Death benefits after retirement; annuity options.

§ 40-71. - Death benefits after retirement; annuity options. (a) Joint and survivor annuity option. A Participant may choose to have a portion of his/her Retirement Benefits continued to his/her surviving spouse, following his/her death on or after his/her normal or early retirement date, until the death of his/her surviving spouse. To do so, he/she shall, before his/her retirement date, choose whether he/she wishes to select or reject a Joint Annuitant option. In order to choose an option or to waive the Joint Annuitant option, an election in writing must be made and signed by the Participant. If he/she chooses an option, he/she shall designate one of the following: (1) Option A: The Participant shall receive an actuarially reduced pension payable for life, and payments in the same reduced amount shall, after the Participant's death, be continued to the Joint Annuitant during the latter's lifetime. (2) Option B: The Participant shall receive an actuarially reduced pension payable for life, and payments in the amount of 75 percent of the reduced pension shall, after the Participant's death, be continued to the Joint Annuitant during the latter's lifetime. (3) Option C: The Participant shall receive an actuarially reduced pension payable for life, and payments in the amount of 50 percent of the reduced pension shall, after the Participant's death, be continued to the Joint Annuitant during the latter's lifetime. In the event of the death of the Joint Annuitant (after the death of the Participant), payment of monthly benefits shall cease. If the total payments paid to the Participant and Joint Annuitant under these provisions are less than the Participant's Employee Contribution Account as of the date benefits commence to the Participant, the difference will be paid to the beneficiary named by the Participant as provided in Section 40-77. (b) Single-life annuity option. Any Participant who fails to exercise any of the options in Section 40-71 shall, upon Retirement, receive the full retirement to which he/she may be entitled under this division as a single-life annuity, including longevity supplement, until his/her death. Upon his/her death after Retirement his/her surviving spouse shall be entitled only to receive the amount of the Participant's Employee Contribution Account as of the date benefits commence to the Participant less the total benefits received by the Participant as retirement pay. (Ord. No. 21916, § 2, 2-12-02)

Oklahoma City Municipal Code § 40-72 Conditions imposed on election of Joint Annuitant options.

§ 40-72. - Conditions imposed on election of Joint Annuitant options. The election of the Joint Annuitant option is subject to the following conditions: (a) the election shall be made prior to the Participant's actual retirement date. (b) the Joint Annuitant, the retirement date, and the specified portion of the retirement pay to be continued to the Joint Annuitant must be designated by the Participant on the date this alternative is elected. The Participant must also furnish proof, satisfactory to the Board of Trustees, of the Joint Annuitant's age at the time of the election. (c) the amount of the reduced pension shall be the Actuarial Equivalent of the benefit to which he/she would otherwise be entitled, determined by an actuary designated by the System based on the definition of Actuarial Equivalence in effect at the time benefits commence to the Participant. (d) once a Participant has retired, his/her Joint Annuitant election may not be changed in any respect or canceled, except as provided in Section 40-72(e). (e) if the Joint Annuitant dies or a final decree of divorce is entered between the Participant and the Joint Annuitant after the Retirement of the Participant, the Participant's Retirement Benefits will continue in the same actuarially reduced amount as that otherwise payable at the normal or early retirement date under the joint and survivor annuity option selected by the Participant. Should the Participant remarry, the new spouse, when he or she becomes eligible, shall be the beneficiary under the same joint and survivor annuity option elected at retirement. No benefits shall be payable to the new spouse unless the Participant and the new spouse are married at the time of and for at least three years prior to the Participant's death. The Joint Annuitant benefit shall be payable until the subsequent surviving spouse dies. (Ord. No. 21916, § 2, 2-12-02)

Oklahoma City Municipal Code § 40-73 Death benefits prior to cessation of employment.

§ 40-73. - Death benefits prior to cessation of employment. (a) In the event of the death of any Participant prior to his/her Termination of Employment with the City, the Eligible Spouse of that deceased Participant may elect to receive monthly, for life, 20 percent of the Average Final Compensation of the Participant if the Eligible Spouse qualifies under one of the following provisions: (1) if the Participant is killed in the line of duty with the City regardless of the time of service with the City. (2) if the Participant was not otherwise eligible for retirement pay but had completed 15 years service with the City and died from causes not arising in the line of duty with the City. (b) In the event of the death of any Participant who had not been awarded retirement pay but was eligible therefor under any of the provisions of Sections 40-65 through 40-69, the Eligible Spouse of that deceased Participant may elect to receive monthly, as a Joint Annuitant pursuant to Option A as described in Sections 40-71 and 40-72, for life, the amount of the retirement benefit for which the Participant would have been eligible at the time of death under the provisions of Section 40-65 through 40-69 or if greater, the amount due under Section 40-73(a). Regardless of whether or not the Participant had selected a Joint Annuitant option as described in Sections 40-71 and 40-72, the Eligible Spouse will be entitled to receive Joint Annuitant benefits pursuant to Option A. (Ord. No. 21916, § 2, 2-12-02; Ord. No. 23463, § 2, 10-9-07)

Oklahoma City Municipal Code § 40-74 Death or Retirement Benefits prior to March 1, 1967.

§ 40-74. - Death or Retirement Benefits prior to March 1, 1967. (a) In the event of the death of an Employee who died or retired prior to March 1, 1967, the spouse of such deceased Employee shall be paid an amount not to exceed 100 percent of said retirement pay if the spouse can qualify under any one of the following events or provisions: (1) in the event of the death of any Employee who has been awarded retirement pay prior to March 1, 1967. (2) if the Employee was killed in the line of duty regardless of the time of service with the City, prior to March 1, 1967. (3) if the Employee had not been awarded retirement pay but was eligible therefor on March 1, 1967. (4) if the Employee was not eligible for retirement pay but had served 15 years or more in the service of the City and died from causes not arising in the line of duty, prior to March 1, 1967. (b) Retirement pay for a spouse is defined as the amount of retirement income to which the Employee was or would have been entitled, had he/she been eligible for retirement, at the time of his/her death; provided, however, that in the event the Employee suffered death from injuries arising out of and incurred in the course of his/her employment with the City prior to March 1, 1967, his/her spouse shall receive Retirement Benefits, regardless of period of service by an Employee, of 40 percent of the Average Final Compensation for a period of 60 months and thereafter 75 percent of 40 percent or 30 percent of the Average Final Compensation for an additional 48 months, and 50 percent of 40 percent or 20 percent of the Average Final Compensation thereafter. (c) In the event of the death of the spouse, Retirement Benefits shall cease and the monthly payments, not to exceed 100 percent of said Retirement Benefits, shall be divided equally among the minor children, if any there be, of the deceased Employee. Said payments shall continue until the children shall have married or attained 18 years of age. The benefits of an unmarried child who is either physically or mentally disabled shall not cease when the child attains 18 years of age, but shall continue so long as the Disability remains. Children adopted by an Employee after his/her retirement are not entitled to Retirement Benefits. (d) In order to qualify for the benefits provided herein, the spouse of an Employee must have been married to the Employee on the date he/she retired and have been married to and continuously lived with the Employee for the five years immediately preceding the Employee's death. (e) This section shall not be construed to limit the Employee's benefits during his/her lifetime. (Ord. No. 21916, § 2, 2-12-02)

Oklahoma City Municipal Code § 40-75 Determination of length of service for retirement.

§ 40-75. - Determination of length of service for retirement. (a) Credit for service. After September 1, 1959, no service may be counted toward retirement unless contributions made by the Employee have remained in the System or have been returned to said System by an Employee returning to service. No service may be counted subsequent to September 1, 1959, when the Employee does not contribute to the System as provided in Part E of this Division. In determining length of service for the purpose of retirement, the annual vacation allowed the Employee, and the time which may be allowed for sick leave with pay by the personnel resolution, shall not be deducted. No credit shall be given for any time any employee has been absent from the City without pay, either with or without leave; provided, however, that effective as of August 5, 1993, a leave of absence pursuant to the Family and Medical Leave Act of 1993, shall not be considered a break in service; however, the Employee will not receive credit for service during any such absence without pay. The probationary periods that existed from November 1, 1969, to July 1, 1980, shall not be deducted, even though no contributions were made during this period. (1) any person retiring prior to December 1, 1997, will have credited service defined as whole years in which the Employee participated in the System subject to any and all limitations contained within this article. (2) any person retiring on or after December 1, 1997, will have credited service defined as whole years and whole months in which the Employee participated in the System subject to any and all limitations contained within this article. (b) Credit for prior service on re-entry or at anytime thereafter. (1) if an Employee leaves or has left the service of the City, voluntarily withdraws his/her Employee Contribution Account, and later returns to service, he/she may establish Prior Service Credit as hereinafter provided. (2) a returning Employee shall deposit with the System in a lump sum, within two months from the date of application the total amount that he/she withdrew when he/she left the service of the City, with simple interest compounded annually at the recognized rate of return earned each calendar year as determined by the actuarial reports during the period of the Employee's absence from the date of withdrawal to date of application for return of contribution. Effective January 1, 2018, in the event of a negative recognized rate of return, interest shall be calculated using a zero (0%) interest rate. Effective January 1, 2018, in the absence of a recognized rate of return, interest shall be calculated by using the interest rate assumptions utilized in the most recent actuarial report. The interest shall be prorated by day in the event application is made prior to the end of a calendar year. An Employee does not have the option to establish partial credit for prior service. The entire period of prior service must be established to be eligible under the provisions of this section. (3) this option may be exercised at anytime after reemployment. (4) the Employee must comply with service requirements in Section 40-66, Section 40-67, Section 40-68, or Section 40-69. (5) employees previously employed by the Central Oklahoma Transportation and Parking Authority (COTPA) whose positions were assumed by the City on October 1, 1989, may establish Prior Service Credit earned while employed by COTPA as hereinafter provided if those Employees are employed by the City as of December 1, 1995. A former COTPA Employee shall deposit with the System in a lump sum, an amount equal to what the Employee's contribution and the City's contribution would have been had the Employee been employed with the City for the amount of prior service being established, with simple interest at the rate of five percent per annum from the date of service with the City to the date of application for establishment of the prior COTPA service with the System. This option shall be exercised by former COTPA Employees only during the period of December 1, 1995 to January 31, 1996. (6) effective January 1, 2002, lump-sum payments for repayment of any amounts received because of a Participant's prior termination, with interest pursuant to Section 40-75(b)(2), may be repaid by a trustee-to-trustee transfer of non-Roth funds from a Section 403(b) annuity, an eligible Section 457 plan, and/or a Section 401(a) qualified plan. (c) Credit for Military Service. (1) Military Service: No Employee Contributions (Other Than Such Employee Contributions as Were Withheld From Compensation Paid to the Employee) Required. a. Military Service Prior to April 6, 1971. 1. Before July 1, 1958. Any Employee in the service of the City on July 1, 1958, and any Employee reemployed after July 1, 1958, who had his/her service with the City interrupted by reason of being impressed into the Military Service of the United States of America prior to July 1, 1958 may receive credit for such time in the Military Service as active service with the City. Such Military Service shall count toward: (A) any service requirement for benefit eligibility, and (B) the service used to determine the amount of any Retirement Benefits; provided, the Employee returned to the service of the City within 60 days after his/her discharge or release from such Military Service. No Employee Contributions (other than such Employee Contributions as were withheld from Compensation paid to the Employee) were required for the period of Military Service if the above criteria were met and the appropriate documentation as specified in Paragraph (6) of this Subsection (c) is provided. 2. On or After July 1, 1958 and Prior to April 6, 1971. Any Employee who left the service of the City by reason of being impressed into the Military Service of the United States of America may receive credit for such time in the Military Service as active service with the City. Such Military Service shall count toward: (A) any service requirement for benefit eligibility, and (B) the service used to determine the amount of any Retirement Benefits; provided, the Employee returned to the service of the City within 60 days after his/her discharge or release from such Military Service; provided further, that the Employee's return to the service of the City was conditioned on his/her physical and mental ability to perform services for the City. No Employee Contributions (other than such Employee Contributions as were withheld from Compensation paid to the Employee) were required for the period of Military Service if the above criteria were met and the appropriate documentation as specified in Paragraph (6) of this Subsection (c) is provided. b. Military Service on or After April 6, 1971 and Prior to December 12, 1994 in Time of War and National Emergency. For an Employee whose Military Service was in time of War and National Emergency, and whose Military Service was followed by return to employment within 90 days immediately following his discharge from such Military Service, such Military Service shall count toward: 1. any service requirement for benefit eligibility, and 2. the service used to determine the amount of any Retirement Benefits. No Employee Contributions (other than such Employee Contributions as were withheld from Compensation paid to the Employee) shall be required for the period of Military Service if the above criteria were met and the appropriate documentation as specified in Paragraph (6) of this Subsection (c) is provided. c. Military Service On or After December 12, 1994 in Time of War and National Emergency. 1. Service Credit. For an Employee whose Military Service was in time of War and National Emergency, such Military Service shall count toward: (A) any service requirement for benefit eligibility, and (B) the service used to determine the amount of any Retirement Benefits; provided, that the criteria set forth in 2. below of this Subparagraph (1)c. of this Subsection (c) are met. 2. Criteria. In order for an Employee to receive service credit for his/her Military Service pursuant to 1. above of this Subparagraph (1)c. of this Subsection (c), the Employee must: (A) prior to the effective date of this Ordinance (October 1, 2006) return to employment with the City within 90 days immediately following his/her discharge or release from such Military Service, and (B) effective on and after the date this Ordinance becomes effective (October 1, 2006): (i) have been called to active duty to serve in time of War and National Emergency from his/her employment with the City; and (ii) return to employment with the City within 90 days immediately following his/her discharge or release from such Military Service under honorable conditions, and not terminate his/her employment with the City for at least 180 days from the date he/she returns to employment with the City; or (iii) die while on active duty (in which case his/her Military Service shall be deemed to have ended on his/her date of death); or (iv) not return to employment with the City because he/she is unable to perform the essential tasks of an appropriate reemployment position or any other position with the City due to a disability incurred while in, or aggravated during, active duty, after reasonable efforts by the City to accommodate his/her disability (in which case his/her Military Service shall be deemed to have ended at the end of the period specified in 38 U.S.C. Section 4312). 3. No Employee Contributions Required if Criteria Met. No Employee Contributions (other than such Employee Contributions as were withheld from Compensation paid to the Employee) shall be required for the period of Military Service if the above criteria are met and the appropriate documentation as specified in Paragraph (6) of this Subsection (c) is provided. Notwithstanding the foregoing, effective on the date this Ordinance becomes effective (October 1, 2006), if an Employee returns to employment with the City within 90 days immediately following his/her discharge or release from such Military Service under honorable conditions, but terminates his/her employment with the City within 180 days from the date he/she returns to employment, his/her Military Service for active duty in time of War and National Emergency shall not count toward the service used to determine his/her Retirement Benefits unless he/she makes up any missed Employee Contributions to the System in accordance with Subparagraph (2)c. of this Subsection (c). (2) Military Service: Employee Contributions Required. a. Military Service On or After July 1, 1958 and Prior to April 6, 1971 for Reason Other Than Being Impressed. 1. Requirements for Military Service. For an Employee who left the service of the City by reason of Military Service for the United States of America, other than by reason of being impressed into the Military Service of the United States of America, such Military Service shall count toward the service used to determine the amount of his/her Retirement Benefits provided, the Employee returns to employment with the City within the time period specified under the Federal law related to such Military Service (generally, within 90 days immediately following his/her discharge or release from such Military Service under honorable conditions) and the Employee makes up any missed Employee Contributions to the System and fulfills all other Federal law requirements to obtain such service credit. 2. Purchase Requirements. The Employee may purchase Military Service credit by contributing a lump-sum amount equal to the amount the Employee would have been required to contribute had the Employee remained continuously employed by the City throughout the period of Military Service, adjusted for any contributions made by the Employee during the period of Military Service. Such lump-sum payment may be made by: (A) a trustee-to-trustee transfer of non-Roth funds from: (i) Code Section 403(b) annuity or custodial account; and/or (ii) an eligible deferred compensation plan described in Code Section 457(b) which is maintained by an eligible employer described in Code Section 457(e)(1)(A); and/or (iii) a Code Section 401(a) qualified plan; and/or (B) a cash payment. If an Employee chooses to purchase Military Service credit, he/she may purchase Military Service credit for all or a portion of his/her Military Service; provided, such Military Service credit does not exceed the maximum amount of Military Service permitted under the Federal law applicable at the time of said Military Service (generally, a four-year limitation on active duty, or as soon after the expiration of such four years as he/she was able to obtain orders relieving him/her from active duty). This option may be exercised by an Employee at any time during reemployment. This option may be exercised by a Retired Participant who became a Retired Participant within four years prior to, or within 90 days following, the effective date of this Ordinance (October 1, 2006) only by making application to purchase Military Service credit within 90 days following the effective date of this Ordinance (October 1, 2006) and making payment in full for such Military Service credit within six months following the effective date of this Ordinance (October 1, 2006). For a Retired Participant who purchases Military Service credit pursuant to the preceding sentence, such Retired Participant's Retirement Benefits shall be recalculated upon payment in full to reflect the additional service credit, and subsequent Retirement Benefits shall be adjusted accordingly. Such Retired Participant may also receive a retroactive payment to the extent he/she receives additional service credit. b. Military Service on or After April 6, 1971 and Prior to December 12, 1994 Not in Time of War and National Emergency. 1. Requirements for Military Service. For an Employee whose Military Service is not in time of War and National Emergency, Military Service shall count toward the service used to determine the amount of his/her Retirement Benefits; provided, the Employee returns to employment with the City within the time period specified under the Federal law related to such Military Service (generally, within 90 days immediately following his/her discharge or release from such Military Service under honorable conditions) and the Employee makes up any missed Employee Contributions to the System in accordance with 2. below of this Subparagraph (2)b. of this Subsection (c) and fulfills all other Federal law requirements to obtain such service credit. 2. Purchase Requirements. The Employee may purchase Military Service credit by contributing a lump-sum amount equal to the amount the Employee would have been required to contribute had the Employee remained continuously employed by the City throughout the period of Military Service, adjusted for any contributions made by the Employee during the period of Military Service. Such lump-sum payment may be made by: (A) a trustee-to-trustee transfer of non-Roth funds from: (i) a Code Section 403(b) annuity or custodial account; and/or (ii) an eligible deferred compensation plan described in Code Section 457(b) which is maintained by an eligible employer described in Code Section 457(e)(1)(A); and/or (iii) a Code Section 401(a) qualified plan; and/or (B) a cash payment. If an Employee chooses to purchase Military Service credit, he/she may purchase Military Service credit for all or a portion of his/her Military Service; provided, such Military Service credit does not exceed the maximum amount of Military Service permitted under the Federal law applicable at the time of said Military Service (generally, a four-year limitation on active duty, which is extended to five years if the active duty in excess of four years is at the request of and for the convenience of the Federal Government). This option may be exercised by an Employee at any time during reemployment. This option may be exercised by a Retired Participant who became a Retired Participant within four years prior to, or within 90 days following, the effective date of this Ordinance (October 1, 2006) only by making application to purchase Military Service credit within 90 days following the effective date of this Ordinance (October 1, 2006) and making payment in full for such Military Service credit within six months following the effective date of this Ordinance (October 1, 2006). For a Retired Participant who purchases Military Service credit pursuant to the preceding sentence, such Retired Participant's Retirement Benefits shall be recalculated upon payment in full to reflect the additional service credit, and subsequent Retirement Benefits shall be adjusted accordingly. Such Retired Participant may also receive a retroactive payment to the extent he/she receives additional service credit. c. Military Service On or After December 12, 1994 Not in Time of War and National Emergency. 1. Requirements for Military Service. For an Employee whose Military Service is not in time of War and National Emergency and, effective on or after the date this Ordinance becomes effective (October 1, 2006), for an Employee whose Military Service is not on account of active duty, such Military Service shall count toward the service used to determine the amount of any Retirement Benefits; provided, the Employee returns to employment with the City within the time period specified under Federal law related to such Military Service following his/her discharge or release from such Military Service under honorable conditions, and the Employee makes up any missed Employee Contributions to the System in accordance with this Subparagraph (2)c. of this Subsection (c). 2. Make-Up Contribution Requirement. Such missed Employee Contributions may be made by: (A) a trustee-to-trustee transfer of non-Roth funds from: (i) a Code Section 403(b) annuity or custodial account; and/or (ii) an eligible deferred compensation plan described in Code Section 457(b) which is maintained by an eligible employer described in Code Section 457(e)(1)(A); and/or (iii) a Code Section 401(a) qualified plan; and/or (B) a cash payment. 3. Maximum Amount of Military Service to Purchase. If an Employee chooses to purchase Military Service credit, he/she may purchase service credit for all or a portion of his/her Military Service; provided, such Military Service credit does not exceed the maximum amount of Military Service permitted under the Federal law applicable at the time of such Military Service (generally, a five-year cumulative period of service in the uniformed services under the Uniformed Services Employment and Reemployment Rights Act of 1994, as amended ("USERRA"), and the Veterans Reemployment Rights Act) with respect to the City. 4. Make-Up Contribution Amount. The amount of any contributions which are made up may not exceed the amount the Employee would have been required to contribute had the Employee remained continuously employed by the City throughout the period of Military Service, adjusted for any contributions made by the Employee during the period of Military Service. 5. Timeframe to Make Up Contributions. (A) General Rule. For an Employee who elects to purchase Military Service credit, payments of missed contributions for the purchase of Military Service credit shall be paid during reemployment and over a period of time equal to the lesser of three times the period of the Employee's Military Service or five years. Such payment period shall begin by the later of: the date the Employee returns to employment with the City; or any date within five years following the effective date of this Ordinance (October 1, 2006). (B) Special Rule for Retired Participants. A Retired Participant who became a Retired Participant within four years prior to, or within 90 days following, the effective date of this Ordinance (October 1, 2006) may purchase military service credit only by making application to purchase military service credit within 90 days following the effective date of this Ordinance (October 1, 2006) and making payment in full for such military service credit within six months following the effective date of this Ordinance (October 1, 2006). For a Retired Participant who purchases Military Service credit pursuant to the preceding sentence, such Retired Participant's Retirement Benefit shall be recalculated upon payment in full to reflect the additional service credit, and subsequent Retirement Benefits shall be adjusted accordingly. Such Retired Participant may also receive a retroactive payment to the extent he/she receives additional service credit. d. Vesting. Notwithstanding the foregoing, military service as described in Subparagraph (2)a. of this Subsection (c), and military service, shall count toward any service requirement for benefit eligibility; provided, the Employee returns to employment with the City within the time period specified under Federal law related to such military service, as described in Subparagraph (2)a. of this Subsection (c), or military service (generally, within 90 days immediately following his/her discharge or release from Military Service under honorable conditions) whether or not the Employee purchases military service credit. (3) Voluntary Repayment of Employee Contribution Account. If the Employee withdrew his/her Employee Contribution Account, the Employee may choose to purchase military service credit regardless of whether he/she repays his/her previously withdrawn Employee Contributions, in accordance with Section 40-75(b). (4) Compliance with USERRA. Effective December 12, 1994, notwithstanding any provision of this System to the contrary, contributions, benefits and service credit with respect to qualified military service shall be provided in accordance with Code Section 414(u). Effective January 18, 2006, for purposes of USERRA coverage only, service by an Employee as an intermittent disaster response appointee of the National Disaster Medical System, when Federally activated or attending authorized training in support of his/her Federal mission, is deemed "service in the uniformed services," although such appointee is not a member of the "uniformed services" as defined by USERRA. Effective January 1, 2007, notwithstanding any provision of this System to the contrary, if any Participant dies while performing qualified military service (as defined in Code Section 414(u)(5)), the survivors of the Participant are entitled to any additional benefits (other than benefit accruals related to the period of qualified military service) provided under this System had the Participant resumed and then terminated employment on account of death. (5) War and National Emergency. For purposes of this Subsection (c), the term War and National Emergency shall mean: a. a period of war or combat military operation as follows: 1. February 28, 1961, to May 7, 1975, commonly referred to as the Vietnam era, except that for the period from February 28, 1961, to August 4, 1964, military service shall only include service in the Republic of Vietnam during that period; 2. August 1, 1990, to December 31, 1991, commonly referred to as the Gulf War, the Persian Gulf War, or Operation Desert Storm, but excluding any military service for active duty for training only, unless discharged from such active duty for a service-connected disability; or b. a period of war or combat military operation other than a conflict, war or era listed in 1. or 2. above of Subparagraph (5)a. of this Subsection (c), beginning on the date of Congressional authorization, Congressional resolution, or Executive Order of the President of the United States of America, for the use of the Armed Forces of the United States of America in a war or combat military operation, if such war or combat military operation lasted for a period of 90 days or more, for a person who served, and only for the period served, in the area of responsibility of the war or combat military operation, but excluding a person who served on active duty for training only, unless discharged from such active duty for a service-connected disability, and provided that the burden of proof of military service during this period shall be with the Employee, who must present appropriate documentation establishing such service. (6) Documentation. An Employee must provide appropriate documentation, such as discharge papers or separation papers, in such time and manner as required by the System, which may include the veteran's Department of Defense Form 214, Department of Defense Form 215, WD Form 53-55 (for World War II veterans), or Statement of Service from the Department of Veterans Affairs, to establish such Military Service prior to April 6, 1971 and such Military Service on or after April 6, 1971 as prescribed in this Subsection (c). (d) Vested rights. Any vested right acquired by the Employee under Section 40-70 by reason of his/her prior employment will remain unimpaired and unaffected by his/her re-employment. (Ord. No. 21916, § 2, 2-12-02; Ord. No. 22103, § 2, 12-17-02; Ord. No. 22486, § 1, 7-7-04; Ord. No. 23079, § 2, 8-15-06; Ord. No. 24002, § 2, 1-5-10; Ord No. 25292, § 1, 12-22-15; Ord. No. 25792, § 1, 11-21-17; Ord. No. 26063, § 4, 12-18-18)

Oklahoma City Municipal Code § 40-76 Lump sum death benefit to surviving spouse.

§ 40-76. - Lump sum death benefit to surviving spouse. The surviving spouse entitled to receive benefits under Sections 40-70(g), 40-73 or 40-74 may elect to receive in lieu of those benefits the Participant's Employee Contribution Account as of the date benefits commence to the Participant. The election shall be made not later than 30 days or as soon as administratively feasible, after the death of the Employee. The election shall be in writing upon forms provided by the System. (Ord. No. 21916, § 2, 2-12-02; Ord. No. 23463, § 2, 10-9-07)

Oklahoma City Municipal Code § 40-77 Payment of death benefits to named beneficiary.

§ 40-77. - Payment of death benefits to named beneficiary. On a form which shall be provided by the System, each Participant shall name a beneficiary to receive death benefits not otherwise payable under the System as provided in Sections 40-70 through 40-74, and may change his/her beneficiary from time to time in the same manner. The Participant may designate his/her estate as beneficiary. Such death benefits are payable as follows: (1) if a Participant dies and no benefits are payable under Sections 40-70 through 40-74, there will be payable to his/her beneficiary the amount of the Participant's Employee Contribution Account as of the date benefits commence to the Participant less the total payments already made to the Participant. (2) if a Participant dies on or after his/her normal or early retirement date and the joint and survivor annuity option has become effective, there will be payable to the beneficiary at the Participant's death, or at the death of the Joint Annuitant, whichever occurs later, the Participant's Employee Contribution Account as of the date benefits commence to the Participant less the total payments made under Sections 40-70 and 40-72. (3) in the event a Participant dies after a divorce from the person designated as the beneficiary by the Participant, all provisions in the beneficiary designation in favor of the Participant's former spouse are revoked unless the decree of divorce or annulment contains a provision expressing an intention contrary or the Participant makes the beneficiary designation subsequent to the divorce or annulment. Unless either of the exceptions applies, the Participant's former spouse is treated for all purposes as having predeceased the Participant. (4) if there is no designated beneficiary surviving at the death of the Participant, payment of any death benefit shall be made to the estate of the deceased Participant. (Ord. No. 21916, § 2, 2-12-02; Ord. No. 23463, § 2, 10-9-07)

Oklahoma City Municipal Code § 40-78 Post-retirement death benefit.

§ 40-78. - Post-retirement death benefit. (a) Provided, prompt notice is provided to the Administrator of the Employee Retirement System concerning the death of a retired participant, and in addition to any benefits provided in this division, a $5,000.00 lump-sum payment shall be paid to the beneficiary designated by a retired participant on a form provided by the system. Prompt notice under this Section 40-78 shall be considered 20 days or less from the date of death of the retired participant. Said retired participant may change his/her beneficiary from time to time in the same manner. The retired participant may designate his/her estate as beneficiary. (b) If the retired participant's estate, family, or designated death-benefit beneficiary fails to provide prompt notice of the retired participant's death to the system and an overpayment of retirement benefits is therefore made to the retired participant, then the system shall have the right to withhold payment of the lump-sum death benefit until such time as the overpayment is returned to the system, or an agreement is made with the retired participant's estate or designated death benefit beneficiary to reduce the lump-sum death benefit by the amount of overpayment made to the retired participant. (c) If there is no designated beneficiary surviving at the death of the retired participant, payment of any death benefit shall be made to the estate of the deceased retired participant. (Ord. No. 21916, § 2, 2-12-02; Ord. No. 23758, § 2, 12-9-08, eff. 1-1-09)

Oklahoma City Municipal Code § 40-79 Cost of living adjustments.

§ 40-79. - Cost of living adjustments. (a) Subject to the limitations set forth in this section, all persons receiving benefits pursuant to the provisions of this division may have their benefits adjusted by the amount of the change in the Consumer Price Index over the previous year ended December 31, provided such adjustment shall not exceed two percent of the current benefits. Eligibility for cost-of-living adjustments shall not begin until the first day of the month following the month in which four years of benefits have been received from the effective date of benefit commencement, unless the Participant has attained his/her Normal Retirement Age as defined in Section 40-51 at his/her retirement date or is granted a Disability allowance. In the case of the latter, one year of benefits must have been received from the effective date of benefit commencement before the cost-of-living adjustments begin. The application of this section shall be prospective for the date of enactment and will be paid beginning the first day of the month following the month of enactment. (b) The Board can authorize a stipend be paid to all pension benefit recipients currently receiving a cost-of-living adjustment. Prior to payment of a stipend, an actuary must evaluate the impact of the stipend on the ability of the fund to meet its financial obligations to retirees. A stipend can be granted once per calendar year. (c) Nothing in this section shall be construed as requiring a cost-of-living adjustments or stipend be granted. (Ord. No. 21916, § 2, 2-12-02; Ord. No. 23463, § 2, 10-9-07; Ord. No. 24652, § 1, 4-23-13; Ord. No. 27216, § 1, 11-22-22)

Oklahoma City Municipal Code § 40-80 Exemption of System funds from legal process.

§ 40-80. - Exemption of System funds from legal process. Except for indebtedness owing to the System, benefits payable from the System shall not be subject in any manner to anticipation, alienation, sale, transfer, assignment, pledge, encumbrance, charge, garnishment, execution or levy of any kind, either voluntary or involuntary, until such payment has been actually received by the person entitled to it. Any attempt to anticipate, alienate, sell, transfer, assign, pledge, encumber, charge or otherwise dispose of any right to benefits payable hereunder shall be void. Neither this System nor the Board of Trustees shall in any manner be liable for or be subject to the debts, contracts, liabilities, engagements or torts of any person entitled to benefits hereunder. If the terms of this section are contrary to the law governing in a particular circumstance, then, as to that circumstance, any such payment shall be so exempt to the maximum extent permitted by such law. This section shall not apply to any benefit payable with respect to a Participant pursuant to a qualified domestic order as defined in the Code or 11 O.S. § 48-103. (Ord. No. 21916, § 2, 2-12-02)

Oklahoma City Municipal Code § 40-81 Partial lump-sum payment at retirement.

§ 40-81. - Partial lump-sum payment at retirement. (a) A Participant who elects to receive benefits as provided in Section 40-68, on or after March 1, 2001, is eligible to elect a partial lump-sum payment in an amount not to exceed $30,000.00. The lump sum will be paid at the same time as the first monthly annuity payment. (b) The reduced benefits payable under Section 40-68 shall be the Actuarial Equivalent of the Retirement Benefit, adjusted for the value of the lump-sum benefit elected under (a) above. The reduced benefit payable shall be paid as a joint and survivor annuity or a single life annuity, as selected by the Participant. (Ord. No. 21916, § 2, 2-12-02)

Oklahoma City Municipal Code § 40-82 Rollover provisions.

§ 40-82. - Rollover provisions. (a) Notwithstanding any provision of the System to the contrary that would otherwise limit a Distributee's election under this subsection and provided that the Eligible Rollover Distribution is at least $200.00, a Distributee, may elect, at the time and in the manner prescribed by the System, to have any portion of a payment that is an Eligible Rollover Distribution paid directly to an Eligible Retirement Plan, specified by the Distributee in a direct rollover. If the Eligible Rollover Distribution is at least $500.00, the Distributee, may elect to have a portion of the Eligible Rollover Distribution paid directly to an Eligible Retirement Plan and receive a portion of the Eligible Rollover Distribution provided that the amount of the Direct Rollover is at least $500.00. Notwithstanding any provision of the System to the contrary that would otherwise limit a Distributee's election under this subsection, a Distributee, including a nonspouse designated beneficiary, to the extent permitted under Subsection (b)(2) of this section, may elect, at the time and in the manner prescribed by the System, to have any portion of an Eligible Rollover Distribution paid directly to an Eligible Retirement Plan, specified by the Distributee in a Direct Rollover. (b) For purposes of this Section 40-82, the following terms shall have the following meanings: (1) Direct rollover: A payment by the System to the Eligible Retirement Plan specified by the Distributee. (2) Distributee: An employee or former employee. In addition, the employee's or former employee's surviving spouse and the employee's or former employee's spouse or former spouse who is the alternate payee under a qualified domestic order, are Distributees with regard to the interest of the spouse or former spouse. A Distributee also includes the participant's nonspouse designated beneficiary pursuant to Code Section 401(a)(9)(E) (which includes certain trusts described in Code Section 402(c)(11)(B)), who may elect any portion of a payment to be made in a direct rollover to an individual retirement account or annuity (other than an endowment contract) described in Code Section 408(a) or (b) ("IRA") (including, effective for distributions after December 18, 2015, a SIMPLE IRA but only if such contribution occurs after the two-year period described in Code Section 72(t)(6) and is made in accordance with the Protecting Americans from Tax Hikes Act of 2015), or to a Roth IRA that is established on behalf of such designated beneficiary, that will be treated as an inherited IRA pursuant to the provisions of Code Section 402(c)(11), and that must be titled in the name of the deceased participant, for the benefit of the beneficiary. Also, in this case, the determination of any required minimum distribution under Code Section 401(a)(9) that is ineligible for rollover shall be made in accordance with Notice 2007-7, Q&A 17 and 18, 2007-5 I.R.B. 395, as clarified by the Special Edition dated February 13, 2007, of Employee Plans News of the Internal Revenue Service Tax Exempt and Government Entity Division. (3) Eligible Retirement Plan: An individual retirement account described in Code Section 408(a), an individual retirement annuity described in Code Section 408(b), an annuity plan described in Code Section 403(a), or a qualified trust described in Code Section 401(a), that accepts the Distributee's eligible rollover distribution. Effective January 1, 2002, an eligible retirement plan shall also mean an annuity contract described in Code Section 403(b) and an eligible plan under Code Section 457(b) which is maintained by a state, political subdivision of a state, or any agency or instrumentality of a state or political subdivision of a state and which agrees to separately account for amounts transferred into such plan from the system. Effective for distributions after December 31, 2007, an eligible retirement plan includes a Roth individual retirement account or annuity described in Code Section 408A ("Roth IRA"), subject to any limitations described in Code Section 408A(c). The definition of eligible retirement plan shall also apply in the case of a distribution to a surviving spouse, or to a spouse or former spouse who is an "alternate payee" pursuant to Code Section 414(p). Effective for distributions after December 18, 2015, an Eligible Retirement Plan includes a SIMPLE IRA in accordance with Code Section 408(p)(1)(B) for purposes of a rollover contribution to such SIMPLE IRA, but only if such rollover contribution is made after December 18, 2015, and only if such rollover contribution occurs after the two-year period described in Code Section 72(t)(6). (4) Eligible rollover distribution: A distribution of all or any portion of the balance to the credit of the Distributee, except that an eligible rollover distribution does not include: a. any distribution that is one of a series of substantially equal periodic payments (not less frequently than annually) made for the life (or life expectancy) of the Distributee or the joint lives (or joint life expectancies) of the Distributee and the Distributee's designated beneficiary; or for a specified period of ten years or more; b. any distribution to the extent such distribution is required under Code Section 401(a)(9); and c. the portion of any distribution that is not includable in gross income; provided, however, effective January 1, 2002, that a portion of a distribution shall not fail to be an eligible rollover distribution merely because the portion consists of after-tax employee contributions which are not includable in gross income. However, such portion may only be transferred: 1. in regard to the time period from January 1, 2002 through December 31, 2006, (A) to an individual retirement account or annuity described in Code Section 408(a) or (b), or (B) in a direct trustee-to-trustee transfer, to a qualified trust which is part of a defined contribution plan that agrees to separately account for amounts so transferred, including separately accounting for the portion of such distribution which is includable in gross income and the portion of such distribution which is not so includable; and 2. on or after January 1, 2007, (A) to an individual retirement account or annuity described in Code Section 408(a) or (b), or (B) in a direct trustee-to-trustee transfer, to a qualified trust or an annuity contract described in Code Section 403(b), and such trust or annuity contract provides for separate accounting for amounts so transferred (and earnings thereon), including separately accounting for the portion of such distribution which is includable in gross income and the portion of such distribution which is not so includable. Effective for distributions after December 31, 2007, such after-tax portion may also be directly transferred to a Roth IRA, subject to any limitations described in Code Section 408A(c). (c) At least 30 days before and, effective January 1, 2007, not more than 180 days before the date of distribution, the Distributee (other than a nonspouse designated beneficiary prior to January 1, 2010) must be provided with a notice of rights which satisfies Code Section 402(f) as to rollover options and tax effects. Such distribution may commence less than 30 days after the notice is given, provided that: (1) the Board of Trustees clearly informs the Distributee that the Distributee has a right to a period of at least 30 days after receiving the notice to consider the decision of whether or not to elect a distribution; and (2) the Distributee, after receiving the notice, affirmatively elects a distribution. (d) Prior to January 1, 2010, a distribution with respect to a nonspouse designated beneficiary shall be made in accordance with Notice 2007-7, Q&A 15, 2007-5 I.R.B. 395. Effective January 1, 2010, a distribution with respect to a nonspouse designated beneficiary shall be subject to Code Sections 401(a)(31), 402(f) and 3405(c). (e) Effective for distributions on or after January 1, 2015, for purposes of determining the portion of a disbursement of benefits from the Plan to a Distributee that is not includible in gross income under Code Section 72, the guidance under I.R.S. Notice 2014-54 shall be followed. (Ord. No. 21916, § 2, 2-12-02; Ord. No. 22103, § 2, 12-17-02; Ord. No. 23463, § 2, 10-9-07; Ord. No. 23758, § 2, 12-9-08, eff. 1-1-09; Ord. No. 24002, § 2, 1-5-10; Ord. No. 24056, § 2, 4-27-10; Ord. No. 24375, § 1, 11-22-11, eff. 12-31-11; Ord No. 25292, § 2, 12-22-15; Ord. No. 25482, § 1, 10-25-16)

Oklahoma City Municipal Code § 40-83 Reemployment of a Retired Participant.

§ 40-83. - Reemployment of a Retired Participant. (a) Rehired within 90 Days of Termination of Employment. If a retired Participant is rehired as an employee in any capacity of the City within 90 days of his/her Termination of Employment, he/she shall repay any benefit payments (including any partial lump sum) he/she received upon Termination of Employment, plus interest, computed at the interest rate set forth in Section 40-51(1). The Retirement Benefit payable from the System to any retired Participant shall cease as of the first date of reemployment, if such Retired Participant is rehired as an employee of the City in any capacity. Such Participant shall not be treated as having incurred a Termination of Employment for purposes of consecutive years of service or Consecutive Years of Vesting Service, but no service or compensation should be earned for such period of absence. (b) Rehired After 90 Days of Termination of Employment. If a retired Participant is rehired as an Employee of the City after 90 days of his/her Termination of Employment, the Retirement Benefits payable from the System to such retired Participant shall be suspended as of the first date of reemployment, Such rehired retired Participant shall be entitled to a prorata portion of the monthly benefit for the month of re-employment which shall reflect the portion of such month that the Participant was retired. The suspended Retirement Benefit shall be subject to the cost of living adjustments under Section 40-79 during the period of reemployment and the suspended Retirement Benefit shall resume as of the first day following the Participant's subsequent Termination of Employment subject to the provisions of Subsection (e) hereof. (c) Contributions Resume. Upon the reemployment of a retired Participant as an Employee, he/she shall be required to make Employee Contributions. (d) Benefit Accrued During Reemployment. If the rehired retired Participant is either (1) employed by the City beyond his/her Normal Retirement Age or (2) earns five (5) or more Consecutive Years of Vesting Service during the period of reemployment, the Participant shall accrue an additional Retirement Benefit to be paid on the Participant's subsequent Termination of Employment, subject to the provisions of Subsection (e) hereof. The additional Retirement Benefit shall be determined on the Credited Service and Compensation earned during the period of reemployment and the System's formula for computing the Retirement Benefit in effect at the time of the Participant's subsequent Termination of Employment. If the rehired retired Participant does not meet the requirements for benefit accrual described above, upon the Participant's subsequent Termination of Employment, such Participant shall only be entitled to receive a refund of his/her Employee Contribution Account attributable to the period of re-employment. (e) Application. A retired Participant who is reemployed as an Employee must file a completed application to retire in accordance with Section 40-51(29), before payment of Retirement Benefits may recommence. The retired Participant's first application shall govern the payment of his/her suspended Retirement Benefit and the second application shall govern payment of his/her additional Retirement Benefit accrued during reemployment or for a refund of his/her Employee Contribution Account attributable to the period of reemployment. (f) Death. In the event a reemployed retired Participant dies while reemployed: (1) the portion of the Participant's Retirement Benefits attributable to the Participant's preceding Termination of Employment shall be payable in accordance with any form of benefit in effect at such time, or if none, in accordance with Section 40-71; and (2) the portion of the Participant's Retirement Benefits attributable to the Participant's subsequent period of employment shall be payable in accordance with Section 40-73. (Ord. No. 21916, § 2, 2-12-02; Ord. No. 23463, § 2, 10-9-07; Ord. No. 26063, § 5, 12-18-18; Ord. No. 27732, § 2, 11-19-24)

Oklahoma City Municipal Code § 40-84 Benefit Restrictions—Maximum Benefits.

§ 40-84. - Benefit Restrictions—Maximum Benefits. For Limitation Years prior to July 1, 2007, the limitations of Code Section 415 shall be computed in accordance with the previous provisions in § 40-84 of the System in effect at that time and to the extent applicable, Revenue Ruling 98-1 and Revenue Ruling 2001-51, except as provided below. Notwithstanding any other provisions herein, the retirement benefits payable to a participant in the System shall be subject to the limitations of Code Section 415 in accordance with the provisions of this section. The limitations of this article shall apply in limitation years beginning on or after July 1, 2007, except as otherwise provided herein. The limitation year is the calendar year. (a) Effective for limitation years ending after December 31, 2001, when expressed as an annual retirement benefit, the amount shall not exceed the lesser of: (1) $160,000.00, automatically adjusted under Code Section 415(d) for increases in the cost of living, as prescribed by the Secretary of the Treasury or his/her delegate, effective January 1 of each calendar year and applicable to the limitation year ending with or within such calendar year. The automatic annual adjustment of the dollar limitation in this Section 40-84(a)(1) shall apply to a participant who has had a severance from employment. The annual retirement benefit otherwise payable to a participant under the system at any time shall not exceed the maximum permissible benefit. If the benefit the participant would otherwise accrue in a limitation year would produce an annual retirement benefit in excess of the maximum permissible benefit, the benefit shall be limited (or the rate of accrual reduced) to a benefit that does not exceed the maximum permissible benefit. Effective for limitation years ending after December 31, 2011, the preceding sentence shall not apply, or (2) for limitation years beginning prior to January 1, 1995, 100 percent of the participant's average earnings during the three consecutive calendar years during which the participant was an active participant in the system and had the highest earnings paid to him. For purposes of this paragraph, earnings for any limitation year shall be the participant's earned income, wages, salaries and fees for professional services and other amounts received for personal services actually rendered in the course of employment with the City, provided such amounts are actually paid or includable in gross income during such year. Earnings shall not include: a. contributions by the City to a plan of deferred compensation which are not included in the gross income of the participant for the taxable year in which contributed or any distributions from a funded deferred compensation plan, and b. other amounts which received special tax benefits or contributions made by the City (whether or not under a salary reduction agreement) towards the purchase of an annuity described in Code Section 403(b) of the Internal Revenue Code of 1986 (whether or not the amounts are actually excludable from the gross income of the participant). (3) notwithstanding the preceding provisions of the subsection, the retirement benefits payable with respect to a participant under any defined benefit plan of the City shall be deemed not to exceed the limitation of this subsection if the retirement benefits payable with respect to such participant under such plan and under all other defined benefit plans of the City do not exceed $10,000.00 for the plan year, or for any prior plan year, and the City has not at any time maintained a defined contribution plan in which the participant participated. (4) if a participant has less than ten years of participation in the system, the dollar limitation otherwise applicable under Paragraph (1) of this Subsection (a) shall be reduced by multiplying such limitation by a fraction, the numerator of which is the participant's number of years of participation in the system, but never less than one and the denominator of which is ten. This paragraph, to the extent required by the Secretary of the Treasury, shall be applied separately to each change in benefit structure hereunder. (5) effective for years beginning on and after January 1, 1995, the retirement benefit allowable under Paragraph (3) of this Subsection (a) above shall be reduced by multiplying such retirement benefit by a fraction, the numerator of which is the number of such participant's years of credited service, but never less than one, and the denominator of which is ten, if the following two conditions are met: a. the City (or a predecessor employer) has not at any time maintained a defined contribution plan in which the participant participated (for this purpose, mandatory employee contributions under a defined benefit plan, individual medical accounts under Code Section 401(h), and accounts for postretirement medical benefits established under Code Section 419A(d)(1) are not considered a separate defined contribution plan); and b. a participant has been credited with less than ten years of credited service. (6) a. the limitations specified in this Section 40-84 shall apply to a straight life annuity with no ancillary benefits and to an annuity that constitutes a qualified joint and survivor annuity, provided payment begins between ages 62 and 65. If payment is in a different form, the amount thereof shall be adjusted to be the actuarial equivalent of a single-life annuity that begins at the same time as such other form of benefit and that is payable on the first day of each month before the limitations of this Section 40-84 are applied to such adjusted amount. For a participant who has or will have distributions commencing at more than one annuity starting date, the annual retirement benefit shall be determined as of each such annuity starting date (and shall satisfy the limitations of this Section 40-84 as of each such date), actuarially adjusting for past and future distributions of benefits commencing at the other annuity starting dates. For this purpose, the determination of whether a new starting date has occurred shall be made without regard to Section 1.401(a)-20, Q&A 10(d), and with regard to Section 1.415(b)-1(b)(1)(iii)(B) and (C) of the Income Tax Regulations. No actuarial adjustment to the retirement benefit shall be made for other benefits not directly related to retirement benefits (such as preretirement incidental death benefits, and postretirement medical benefits) and for the inclusion in the form of benefit of an automatic benefit increase feature, provided the form of benefit is not subject to Code Section 417(e)(3) and would otherwise satisfy the limitations of this Section 40-84, and the System provides that the amount payable under the form of benefit in any limitation year shall not exceed the limits of this Section 40-84 applicable at the annuity starting date, as increased in subsequent years pursuant to Code Section 415(d). For this purpose, an automatic benefit increase feature is included in a form of benefit if the form of benefit provides for automatic, periodic increases to the benefits paid in that form. The determination of the annual retirement benefit shall take into account social security supplements described in Code Section 411(a)(9) and benefits transferred from another defined benefit plan, other than transfers of distributable benefits pursuant Section 1.411(d)-4, Q&A-3(c), of the Income Tax Regulations, but shall disregard benefits attributable to employee contributions or rollover contributions. Effective for distributions in plan years beginning after December 31, 2003, the determination of actuarial equivalence of forms of benefit other than a straight life annuity shall be made in accordance with 1. or 2. of this Subparagraph a. 1. Benefit forms not subject to Code Section 417(e)(3): The straight life annuity that is actuarially equivalent to the participant's form of benefit shall be determined under this 1. of Paragraph (6) of Subsection (a) if the form of the participant's benefit is either: (A) a nondecreasing annuity (other than a straight life annuity) payable for a period of not less than the life of the participant (or, in the case of a qualified pre-retirement survivor annuity, the life of the surviving spouse), or (B) an annuity that decreases during the life of the participant merely because of: (i) the death of the survivor annuitant (but only if the reduction is not below 50 percent of the benefit payable before the death of the survivor annuitant), or (ii) the cessation or reduction of Social Security supplements or qualified disability payments (as defined in Code Section 411(a)(9)). (C) limitation years beginning before July 1, 2007. For limitation years beginning before July 1, 2007, the actuarially equivalent straight life annuity is equal to the annual amount of the straight life annuity commencing at the same annuity starting date that has the same actuarial present value as the Participant's form of benefit computed using whichever of the following produces the greater annual amount: (i) the interest rate specified in Section 40-51(1) of the System and the mortality table (or other tabular factor) specified in Section 40-51(1) of the System for adjusting benefits in the same form; and (ii) a five percent interest rate assumption and the applicable mortality table described in Revenue Ruling 2001-62 for that annuity starting date. (D) limitation Years beginning on or after July 1, 2007. For limitation years beginning on or after July 1, 2007, the actuarially equivalent straight life annuity is equal to the greater of: (i) the annual amount of the straight life annuity (if any) payable to the Participant under the System commencing at the same annuity starting date as the Participant's form of benefit; and (ii) the annual amount of the straight life annuity commencing at the same annuity starting date that has the same actuarial present value as the Participant's form of benefit, computed using a five point five percent interest rate assumption and the applicable mortality table within the meaning of Code Section 417(e)(3)(B), as described in Revenue Ruling 2007-67 (and subsequent guidance) for that annuity starting date; and 2. Benefit forms subject to Code Section 417(e)(3): The straight life annuity that is actuarially equivalent to the Participant's form of benefit shall be determined under this 2. of Subparagraph a. of Paragraph (6) of Subsection (a) if the form of the Participant's benefit is other than a benefit form described in 1. of Subparagraph a. of Paragraph (6) of Subsection (a). In this case, the actuarially equivalent straight life annuity shall be determined as follows: (A) annuity Starting Date in a Plan Year Beginning After December 31, 2007 (Plan Years Beginning on or after January 1, 2008). If the annuity starting date of the Participant's form of benefit is in a Plan Year beginning after December 31, 2007, the actuarially equivalent straight life annuity is equal to the greatest of (i), (ii) and (iii) below: (i) the annual amount of the straight life annuity commencing at the same annuity starting date that has the same actuarial present value as the Participant's form of benefit, computed using the interest rate specified in Section 40-51(1) a. of the System and the mortality table (or other tabular factor) specified in Section 40-51(1) b. of the System for adjusting benefits in the same form; (ii) the annual amount of the straight life annuity commencing at the same annuity starting date that has the same actuarial present value as the Participant's form of benefit, computed using a 5.5 percent interest rate assumption and the applicable mortality table within the meaning of Code Section 417(e)(3)(B), as described in Revenue Ruling 2007-67 (and subsequent guidance) for that annuity starting date; and (iii) the annual amount of the straight life annuity commencing at the same annuity starting date that has the same actuarial present value as the Participant's form of benefit, computed using: A. the Code Section 417(e)(3) applicable interest rate which means the adjusted first, second and third segment rates applied under rules similar to the rules of Code Section 430(h)(2)(C) for the fourth calendar month preceding the Plan Year in which falls the annuity starting date for the distribution and the stability period is the successive period of one Plan Year which contains the annuity starting date for the distribution and for which the applicable interest rate remains constant, or as otherwise provided in applicable IRS guidance if the first day of the first plan year beginning after December 31, 2007, does not coincide with the first day of the applicable stability period; and B. the applicable mortality table within the meaning of Code Section 417(e)(3)(B), as described in Revenue Ruling 2007-67 (and subsequent guidance) for that annuity starting date, divided by 1.05. (B) annuity Starting Date in Plan Years Beginning in the January 1, 2006 or the January 1, 2007 Plan Years. If the annuity starting date of the Participant's form of benefit is in a plan year beginning in the January 1, 2006 or the January 1, 2007 Plan Years, the actuarially equivalent straight life annuity is equal to the greatest of: (i) the annual amount of the straight life annuity commencing at the same annuity starting date that has the same actuarial present value as the Participant's form of benefit, computed using the interest rate specified in Section 40-51(1) of the System and the mortality table (or other tabular factor) specified in Section 40-51(1) of the System for adjusting benefits in the same form; (ii) the annual amount of the straight life annuity commencing at the same annuity starting date that has the same actuarial present value as the Participant's form of benefit, computed using a 5.5 percent interest rate assumption and the applicable mortality table defined in Revenue Ruling 2001-62 (or its successor for these purposes, if applicable); and (iii) the annual amount of the straight life annuity commencing at the same annuity starting date that has the same actuarial present value as the Participant's form of benefit, computed using: A. the rate of interest on 30-year Treasury securities as specified by the Commissioner for the lookback month for the stability period specified in the System. The lookback month applicable to the stability period is the fourth calendar month preceding the first day of the stability period. The stability period is the successive period of one calendar year which contains the annuity starting date for the distribution and for which the applicable interest rate remains constant; and B. the applicable mortality table described in Revenue Ruling 2001-62 (or its successor for these purposes, if applicable), divided by 1.05. (C) annuity Starting Date in Plan Years Beginning in 2004 or 2005. (i) If the annuity starting date of the Participant's form of benefit is in a plan year beginning in 2004 or 2005, the actuarially equivalent straight life annuity is equal to the annual amount of the straight life annuity commencing at the same annuity starting date that has the same actuarial present value as the Participant's form of benefit, computed using whichever of the following produces the greater annual amount: A. the interest rate specified in Section 40-51(1) of the System and the mortality table (or other tabular factor) specified in Section 40-51(1) of the System for adjusting benefits in the same form; and B. a 5.5 percent interest rate assumption and the applicable mortality table defined in Revenue Ruling 2001-62 (or its successor for these purposes, if applicable). (ii) If the annuity starting date of the Participant's benefit is on or after the first day of the first plan year beginning in 2004 and before December 31, 2004, the application of this 2.(C) of Paragraph (6) of this Subsection (a) shall not cause the amount payable under the Participant's form of benefit to be less than the benefit calculated under the System, taking into account the limitations of this subsection, except that the actuarially equivalent straight life annuity is equal to the annual amount of the straight life annuity commencing at the same annuity starting date that has the same actuarial present value as the Participant's form of benefit, computed using whichever of the following produces the greatest annual amount: A. the interest rate and mortality table (or other tabular factor) specified in Section 40-51(1) of the System for adjusting benefits in the same form; B. (I) ;hg;the rate of interest on 30-year Treasury securities as specified by the Commissioner for the lookback month for the stability period specified in the System. The lookback month applicable to the stability period is the fourth calendar month preceding the first day of the stability period. The stability period is the successive period of one calendar year which contains the annuity starting date for the distribution and for which the applicable interest rate remains constant; and (II) the applicable mortality table is set forth in Revenue Ruling 2001-62 (or its successor for these purposes, if applicable); and C. (I) ;hg;the rate of interest on 30-year Treasury securities as specified by the Commissioner for the lookback month for the stability period specified in the System. The lookback month applicable to the stability period is the fourth calendar month preceding the first day of the stability period. The stability period is the successive period of one calendar year which contains the annuity starting date for the distribution and for which the applicable interest rate remains constant (as in effect on the last day of the last plan year beginning before January 1, 2004, under provisions of the System then adopted and in effect); and (II) the applicable mortality table is set forth in Revenue Ruling 2001-62 (or its successor for these purposes, if applicable). b. Adjustment of Defined Benefit Dollar Limitation for Benefit Commencement Before Age 62. Effective for benefits commencing in limitation years ending after December 31, 2001, the dollar limitation under Paragraph (1) of this Subsection (a) shall be adjusted if the annuity starting date of the Participant's benefit is before age 62. If payment begins before the Participant attains 62 years of age, the limitation in Paragraph (1) of this Subsection (a) shall be adjusted as follows (as modified by Subparagraph d.1. of Paragraph (6) of this Subsection (a) but subject to Subparagraph d.2. of Paragraph (6) of this Subsection (a)): 1. Limitation Years Beginning Before July 1, 2007. If the annuity starting date for the Participant's benefit is prior to age 62 and occurs in a limitation year beginning before July 1, 2007, the dollar limitation for the Participant's annuity starting date is the annual amount of a benefit payable in the form of a straight life annuity commencing at the Participant's annuity starting date that is the actuarial equivalent of the dollar limitation (adjusted under Paragraph (4) of this Subsection (a) for years of participation less than 10, if required) with actuarial equivalence computed using whichever of the following produces the smaller annual amount: (A) the interest rate specified in Section 40-51(1) of the System and the mortality table (or other tabular factor) specified in Section 40-51(1) and Section 40-69 of the System; or (B) a five-percent interest rate assumption and the applicable mortality table as described in Revenue Ruling 2001-62 (or its successor for these purposes, if applicable). 2. Limitation Years Beginning on or After July 1, 2007. (A) System does not have immediately commencing straight life annuity payable at both age 62 and the age of benefit commencement. If the annuity starting date for the participant's benefit is prior to age 62 and occurs in a limitation year beginning on or after July 1, 2007, and the System does not have an immediately commencing straight life annuity payable at both age 62 and the age of benefit commencement, the dollar limitation for the participant's annuity starting date is the annual amount of a benefit payable in the form of a straight life annuity commencing at the Participant's annuity starting date that is the actuarial equivalent of the dollar limitation (adjusted under Paragraph (4) of this Subsection (a) for years of participation less than ten, if required) with actuarial equivalence computed using a five percent interest rate assumption and the applicable mortality table within the meaning of Code Section 417(e)(3)(B), as described in Revenue Ruling 2007-67 (and subsequent guidance) (and expressing the Participant's age based on completed calendar months as of the annuity starting date). (B) System has immediately commencing straight life annuity payable at both age 62 and the age of benefit commencement. If the annuity starting date for the participant's benefit is prior to age 62 and occurs in a limitation year beginning on or after July 1, 2007, and the System has an immediately commencing straight life annuity payable at both age 62 and the age of benefit commencement, the dollar limitation for the Participant's annuity starting date is the lesser of the limitation determined under the immediately preceding Subsection (A) and the dollar limitation (adjusted under Paragraph (4) of this Subsection (a) for years of participation less than 10, if required) multiplied by the ratio of the annual amount of the immediately commencing straight life annuity under the System at the participant's annuity starting date to the annual amount of the immediately commencing straight life annuity under the System at age 62, both determined without applying the limitations of this Subsection (B). (C) Notwithstanding any other provision of this Subparagraph b. of Paragraph (6) of Subsection (a), the age-adjusted dollar limit applicable to a Participant shall not decrease on account of an increase in age or the performance of additional services. c. Adjustment for defined benefit dollar limitation for benefit commencement after age 65. Effective for benefits commencing in limitation years ending after December 31, 2001, the dollar limitation under Paragraph (1) of this Subsection (a) shall be adjusted if the annuity starting date of the participant's benefit is after age 65. If payment begins after the participant reaches 65 years of age, the limitation in Paragraph (1) of this Subsection (a) shall be adjusted as follows (as modified by Subparagraph d.1. of Paragraph (6) of this Subsection (a)): 1. Limitation years beginning before July 1, 2007. If the annuity starting date for the participant's benefit is after age 65 and occurs in a limitation year beginning before July 1, 2007, the dollar limitation for the participant's annuity starting date is the annual amount of a benefit payable in the form of a straight life annuity commencing at the participant's annuity starting date that is the actuarial equivalent of the dollar limitation (adjusted under Paragraph (4) of this Subsection (a) for years of participation less than ten, if required) with actuarial equivalence computed using whichever of the following produces the smaller annual amount: (A) the interest rate specified in Section 40-51(1) of the System and the mortality table (or other tabular factor) specified in Section 40-51(1) of the System; or (B) a 5-percent interest rate assumption and the applicable mortality table as described in Revenue Ruling 2001-62 (or its successor for these purposes, if applicable). 2. Limitation years beginning on or after July 1, 2007. (A) The System does not have immediately commencing straight life annuity payable at both age 65 and the age of benefit commencement. If the annuity starting date for the Participant's benefit is after age 65 and occurs in a limitation year beginning on or after July 1, 2007, and the System does not have an immediately commencing straight life annuity payable at both age 65 and the age of benefit commencement, the dollar limitation at the participant's annuity starting date is the annual amount of a benefit payable in the form of a straight life annuity commencing at the Participant's annuity starting date that is the actuarial equivalent of the dollar limitation (adjusted under Paragraph (4) of this Subsection (a) for years of participation less than ten, if required), with actuarial equivalence computed using a five percent interest rate assumption and the applicable mortality table within the meaning of Code Section 417(e)(3)(B), as described in Revenue Ruling 2007-67 (and subsequent guidance) (and expressing the participant's age based on completed calendar months as of the annuity starting date). (B) The System has immediately commencing straight life annuity payable at both age 65 and the age of benefit commencement. If the annuity starting date for the participant's benefit is after age 65 and occurs in a limitation year beginning on or after July 1, 2007, and the System has an immediately commencing straight life annuity payable at both age 65 and the age of benefit commencement, the dollar limitation at the participant's annuity starting date is the lesser of the limitation determined under the immediately preceding paragraph above and the dollar limitation (adjusted under Paragraph (4) of this Subsection (a) for years of participation less than ten, if required) multiplied by the ratio of the annual amount of the adjusted immediately commencing straight life annuity under the System at the participant's annuity starting date to the annual amount of the adjusted immediately commencing straight life annuity under the System at age 65, both determined without applying the limitations of this subsection. For this purpose, the adjusted immediately commencing straight life annuity under the System at the participant's annuity starting date is the annual amount of such annuity payable to the participant, computed disregarding the participant's accruals after age 65 but including actuarial adjustments even if those actuarial adjustments are used to offset accruals; and the adjusted immediately commencing straight life annuity under the System at age 65 is the annual amount of such annuity that would be payable under the System to a hypothetical participant who is age 65 and has the same accrued benefit as the participant. d. 1. Notwithstanding the other requirements of Subparagraphs b. and c. of Paragraph (6) of this Subsection (a), no adjustment shall be made to the dollar limitation to reflect the probability of a Participant's death between the annuity starting date and age 62, or between age 65 and the annuity starting date, as applicable, if benefits are not forfeited upon the death of the Participant prior to the annuity starting date. To the extent benefits are forfeited upon death before the annuity starting date, such an adjustment shall be made. For this purpose, no forfeiture shall be treated as occurring upon the participant's death if the System does not charge Participants for providing a qualified preretirement survivor annuity, as defined in Code Section 417(c), upon the Participant's death. 2. Notwithstanding any other provision to the contrary, for limitation years beginning on or after January 1, 1997, if payment begins before the participant reaches age 62, the reductions in the limitations in Subparagraph b. of Paragraph (6) of this Subsection (a) shall not apply to a participant who is a qualified participant as defined in Code Section 415(b)(2)(H). (7) in no event shall the maximum annual accrued retirement benefit of a participant allowable under this Section 40-84 be less than the annual amount of such accrued retirement benefit, including early pension and qualified joint and survivor annuity amounts, duly accrued by the participant as of the last day of the limitation year beginning in 1982, or the last day of the limitation year beginning in 1986, whichever is greater, disregarding any plan changes or cost-of-living adjustments occurring after July 1, 1982, as to the 1982 accrued amount, and May 5, 1986, as to the 1986 accrued amount. (8) for limitation years beginning on or after January 1, 1995, Paragraphs (4), (5) and (6) of this Subsection (a), shall not apply to the benefit paid under the System as a result of the Participant becoming disabled or amounts received by the surviving spouse under a qualified joint and survivor annuity to the extent such benefits would not be payable if the Participant's benefit were paid in another form, beneficiaries, or estate of the Participant as a result of his/her death. (b) Defined benefit and defined contribution plans. This Subsection (b) shall not apply to limitation years beginning on or after January 1, 2000. For limitation years beginning prior to January 1, 2000, the combined limit rules of Code Section 415(e) shall apply. (c) In applying all limitations contained in this section, all defined contribution plans of the City, whether or not terminated, will be considered a single plan, and all defined benefit plans of the City whether or not terminated, will be considered a single plan. (d) In the case of any repayment of the total amount withdrawn pursuant to Section 40-75(b), to the System for the establishment of prior service credits, any such repayments shall not be taken into account for the purposes of this section. (e) Effective January 1, 1998, if a participant purchases service credit under Section 40-75 which qualifies as "permissive service credit" pursuant to Code Section 415(n), the limitations of Code Section 415 may be met by either: (1) treating the accrued benefit derived from such contributions as an annual benefit under Section 40.84 below, or (2) treating all such contributions as annual additions for purposes of Code Section 415(c). (Ord. No. 21916, § 2, 2-12-02; Ord. No. 22103, § 2, 12-17-02; Ord. No. 22890, § 1, 12-13-05; Ord. No. 23758, § 2, 12-9-08, eff. 1-1-09; Ord. No. 24002, § 2, 1-5-10; Ord. No. 24056, § 2, 4-27-10; Ord. No. 24375, § 1, 11-22-11, eff. 12-31-11; Ord. No. 24801, § 1, 12-31-13)

Oklahoma City Municipal Code § 40-85 Benefit Restrictions—Effective Date of Section 40-85.

§ 40-85. - Benefit Restrictions—Effective Date of Section 40-85. The provisions of Code Section 401(a)(4), which include restrictions on the 25 highest paid employees were deemed to be satisfied for this System prior to January 1, 1998. Effective January 1, 1998, this System is not subject to Code Section 401(a)(4). (Ord. No. 21916, § 2, 2-12-02)

Oklahoma City Municipal Code § 40-86 Latest date for commencement of payment of benefits.

§ 40-86. - Latest date for commencement of payment of benefits. Distribution of a Participant's Retirement Benefit must be made or must commence no later than April 1 of the calendar year following the later of the calendar year in which the Participant (a) attains age 70½ for a Participant who attains age 70½ before January 1, 2020, or effective for distributions required to be made after December 31, 2019, but before January 1, 2023, the calendar year in which the Participant reaches 72 years of age for a Participant who attains age 70½ after December 31, 2019, or effective for distributions required to be made after December 31, 2022, the calendar year in which the Participant reaches 73 years of age for an individual who attains age 72 after December 31, 2022, or "the applicable age", as defined in Code Section 401(a)(9)(C)(v), if later; or (b) retires. With respect to distributions from the System made for calendar years beginning on or after January 1, 2002 through December 31, 2004, the System shall apply the minimum distribution requirements and incidental benefit requirements of Code Section 401(a)(9) in accordance with the regulations under Code Section 401(a)(9) that were proposed on January 17, 2001, notwithstanding any provision in this Division to the contrary. With respect to distributions made for calendar years beginning on or after January 1, 2005, the System shall apply the minimum distribution incidental benefit requirements, incidental benefit requirements, and minimum distribution requirements of Code Section 401(a)(9) in accordance with the final regulations under Code Section 401(a)(9), including Treasury Regulations Sections 1.401(a)(9)-1 through 1.401(a)(9)-9; provided, however, that for distributions required to be made after December 31, 2019, for individuals who attain 70½ years of age after December 31, 2019, but before January 1, 2023, such distributions shall take into account that age 70½ was stricken and age 72 was inserted in Code Section 401(a)(9)(B)(iv)(I), Code Section 401(a)(9)(C)(i)(I) and Code Section 401(a)(9)(C)(ii)(I), and, provided further, that for individuals who attain 72 years of age after December 31, 2022, such distributions shall take into account that "age 72" was stricken and "the applicable age", as defined in Code Section 401(a)(9)(C)(v), was inserted in Code Section 401(a)(9)(B)(iv)(I) (applicable to calendar year 2023), Code Section 401(a)(9)(C)(i)(I) and Code Section 401(a)(9)(C)(ii)(I) and that the further revision of Code Section 401(a)(9)(B)(iv) effective for calendar years after 2023 with respect to certain distributions shall be taken into account, in all cases notwithstanding any provision in this Division to the contrary. All required distributions on or after January 1, 2005, shall be determined and made in accordance with the final regulations under Code Section 401(a)(9), including the minimum distribution incidental benefit requirements of the final regulations; provided, however, that for distributions required to be made after December 31, 2019, for individuals who attain 70½ years of age after December 31, 2019, but before January 1, 2023, such distributions shall take into account that age 70½ was stricken and age 72 was inserted in Code Section 401(a)(9)(B)(iv)(I), Code Section 401(a)(9)(C)(i)(I) and Code Section 401(a)(9)(C)(ii)(I) and, provided further, that for individuals who attain 72 years of age after December 31, 2022, such distributions shall take into account that "age 72" was stricken and "the applicable age", as defined in Code Section 401(a)(9)(C)(v), was inserted in Code Section 401(a)(9)(B)(iv)(I) (applicable to calendar year 2023), Code Section 401(a)(9)(C)(i)(I) and Code Section 401(a)(9)(C)(ii)(I) and that the further revision of Code Section 401(a)(9)(B)(iv) effective for calendar years after 2023 with respect to certain distributions shall be taken into account, in all cases notwithstanding any provision in this Division to the contrary. Effective September 8, 2009, notwithstanding anything herein to the contrary, the System, which is a governmental plan (within the meaning of Code Section 414(d)) is treated as having complied with Code Section 401(a)(9) for all years to which Code Section 401(a)(9) applies to the System if the System complies with a reasonable and good faith interpretation of Code Section 401(a)(9). (Ord. No. 22103, § 3, 12-17-02; Ord. No. 22890, § 1, 12-13-05; Ord. No. 24145, § 2, 10-12-10; Ord. No. 27206, § 1, 10-25-22; Ord. No. 27456, § 3, 11-7-23)

Oklahoma City Municipal Code § 40-87 Direct trustee-to-trustee transfer by nonspouse beneficiary.

§ 40-87. - Direct trustee-to-trustee transfer by nonspouse beneficiary. (a) An individual who has been designated, pursuant to Code Section 401(a)(9)(E), as the beneficiary of a deceased Participant and who is not the surviving spouse of the Participant, may elect, in accordance with Code Section 402(c)(11), to have a direct trustee-to-trustee transfer of any portion of such beneficiary's distribution from the System after December 31, 2006, made to an individual retirement account or individual retirement annuity (other than an endowment contract) described in Code Section 408(a) or (b) ("IRA") (including, effective for distributions after December 18, 2015, a SIMPLE IRA but only if such contribution occurs after the two-year period described in Code Section 72(t)(6) and is made in accordance with the Protecting Americans from Tax Hikes Act of 2015) that is established on behalf of such designated individual. If such transfer is made, then: (1) For distributions made after December 31, 2006, but prior to January 1, 2010, the transfer is treated as an eligible rollover distribution for purposes of Code Section 402(c)(11). Effective January 1, 2010, the transfer is treated as an eligible rollover distribution; and (2) the transferee IRA is treated as an inherited individual retirement account or an inherited individual retirement annuity (within the meaning of Code Section 408(d)(3)(c)) and that must be titled in the name of the deceased Participant, for the benefit of the beneficiary; and (3) the required minimum distribution rules of Code Section 401(a)(9)(B) (other than clause iv thereof) apply to the transferee IRA. Furthermore, for distributions after December 31, 2007, a nonspouse designated beneficiary (as described in and in accordance with Code Section 402(c)(11)) may directly roll over a distribution to a Roth IRA, subject to any limitations described in Code Section 408A(c). (b) A trust maintained for the benefit of one or more designated beneficiaries shall be treated in the same manner as a trust designated beneficiary. (c) The Board of Trustees shall have authority to promulgate such rules as are necessary to implement the provisions of this section. (Ord. No. 23463, § 3, 10-9-07; Ord. No. 23758, § 2, 12-9-08, eff. 1-1-09; Ord. No. 24375, § 1, 11-22-11, eff. 12-31-11; Ord. No. 25482, § 2, 10-25-16)

Oklahoma City Municipal Code § 40-88 Payment of qualified health insurance premiums.

§ 40-88. - Payment of qualified health insurance premiums. (a) A Participant who is an eligible retired public safety officer and who wishes to have direct payments made toward the Participant's qualified health insurance premiums from the Participant's monthly Disability allowance or monthly Retirement Benefits must make a written election in accordance with Code Section 402(l), on the form provided by the System, as follows: (1) the election must be made after the Participant separates from service as a public safety officer with the City; (2) the election shall only apply to distributions from the System after December 31, 2006, and to amounts not yet distributed to the eligible retired public safety officer; (3) direct payments for an eligible retired public safety officer's qualified health insurance premiums can only be made from the Participant's monthly Disability allowance or monthly Retirement Benefits from the System and cannot be made from a partial lump-sum payment pursuant to Section 40-81; and (4) the aggregate amount of the exclusion from an eligible retired public safety officer's gross income is $3,000.00 per calendar year. (b) For purposes of this section, the following definitions shall apply: (1) a "public safety officer" is a Participant serving a public agency in an official capacity, with or without compensation, as a law enforcement officer, firefighter, chaplain, or as a member of a rescue squad or ambulance crew. (2) an "eligible retired public safety officer" is a Participant who, by reason of Disability, or attainment of his or her Normal Retirement Date or Age, is separated from service as a public safety officer with the City. (3) "qualified health insurance premiums" effective for distributions in taxable years beginning after December 31, 2006, are for coverage for the eligible retired public safety officer, the eligible retired public safety officer's spouse, and dependents (as defined in Code Section 152) by an accident or health plan or a qualified long-term care insurance contract (as defined in Code Section 7702B(b)). The health plan does not have to be sponsored by the City. (c) For distributions made after December 29, 2022, the election provided for under Code Section 402(l) for an eligible retired public safety officer, may be made whether payment of the premiums is made directly to the provider of the accident or health plan or qualified long-term care insurance contract by deduction from a distribution from the System or is made to the Participant. (d) The Board of Trustees may promulgate such rules or procedures as are necessary to implement the provisions of this section or to facilitate a Participant's election under Code Section 402(l). (Ord. No. 23463, § 3, 10-9-07; Ord. No. 24604, § 1, 1-29-13; Ord. No. 27456, § 4, 11-7-23)

Oklahoma City Municipal Code § 40-89 Electronic media.

§ 40-89. - Electronic media. Effective for applicable notices provided and to Participant elections made on or after January 1, 2011, the use of electronic media to provide applicable notices and to make Participant elections and/or consents as more fully described in Section 1.401(a)-21 of the Income Tax Regulations is permitted. (Ord. No. 24375, § 2, 11-22-11, eff. 12-31-11)

Oklahoma City Municipal Code § 40-90 Reserved.

Source: City of Oklahoma City, Municipal Code and City Charter (Municode Library, library.municode.com)URL: https://library.municode.com/ok/oklahoma_city/codes/code_of_ordinances?nodeId=OKMUCO2020_CH40PERESY_ARTIIIPERE_DIV1EMREPR_PTBGEPRFetched: 10/28/2026