Early Retirement Benefits for Employees incurring a Termination of Employment on or after March 1, 2001.
Oklahoma City Municipal Code § 40-69
in effect§ 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)
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_PTBGEPR_S40-69EAREBEEMINTEEMAFMA12001Fetched: 10/28/2026