SECTION 590:30-1-5. Payment to alternate payee

(a)   Payments to an alternate payee from the Retirement Systems will be made in a like manner and at the same time payment is made to the member. Payment will be either a lump sum distribution of the contributions due the member upon termination of service, or monthly benefit payments under the retirement options available to the member at the time he or she applies for retirement benefits. The alternate Payee shall not be allowed to choose a method of payment that is different from the method chosen by the member. The alternate payee may not receive payment of any kind prior to the member making application and becoming eligible for payment of benefits.

(b)   Federal and Oklahoma state income taxes will be withheld from the payment to an alternate payee in accordance with applicable federal and state statutes.

(c)   It is the responsibility of the alternate payee to notify the System of any change in the alternate payee's address.

[Source: Added at 12 Ok Reg 3255, eff 7-27-95; Amended at 16 Ok Reg 616, eff 12-2-98 (emergency); Amended at 16 Ok Reg 2017, eff 6-11-99; Amended at 20 Ok Reg 1758, eff 6-12-03]