Oklahoma Administrative Code (Last Updated: March 11, 2021)

SECTION 715:1-1-18. Retirement benefit reduction to pay a judgment or settlement as an offset

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The Board of Trustees may approve an offset of a member's benefit to pay a judgment or settlement against the member for a crime involving the System, for a breach of the member's fiduciary duty to the System, or for funds or monies incorrectly paid to a member or a beneficiary by mistake. Such offsets will be made in accordance with any applicable state statutes and requirements of Section 401(a)(13) of the Internal Revenue Code of 1986.

[Source: Added at 17 Ok Reg 202, eff 9-8-99 (emergency); Added at 17 Ok Reg 3068, eff 7-13-00]

                    
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