SECTION 590:40-5-17. Normal retirement age - applicable to the 401(a) plan and the 457(b) plan

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(a) Normal retirement age for the 401(a) plan. The normal retirement age for participants under the 401(a) plan is age 65. Upon attaining age 65, the Participant is vested in the Employer contributions as set forth in 590:40-5-15 and no change can be made in that vesting schedule for the Participant.
(b) Normal retirement age for the 457(b) plan. A Participant in the 457(b) plan is allowed to designate a normal retirement age under the 457(b) plan for purposes of the special section 457 catch-up under Code Section 457(b)(3) that is no earlier than age 65 and no later than age 70 ½.

[Source: Added at 32 Ok Reg 2179, eff 9-11-15]

                    
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