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53	53	STATE OF OKLAHOMA
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55	55	1st Session of the 58th Legislature (2021)
56	56
57	57	SENATE BILL 741 By: Weaver
58	58
59	59
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61	61
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63	63	AS INTRODUCED
64	64
65	65	An Act relating to the Law Enforcement Retire ment
66	66	System; amending 47 O.S. 2011, Secti on 2-307.2, as
67	67	amended by Section 3, Chapter 8, O.S .L. 2016 (47 O.S.
68	68	Supp. 2020, Section 2-307.2), which relates to
69	69	service credit for unused sick leave; increasing cap
70	70	on unused sick leave to be included in service credit
71	71	for certain members; and conforming language.
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77	77	BE IT ENACTED BY THE PEOPLE OF THE STATE OF OKLAHOMA:
78	78	SECTION 1. AMENDATORY 47 O.S. 2011, Section 2 -307.2, as
79	79	amended by Section 3, Chapter 8, O.S.L. 2016 (47 O.S. Supp. 2020,
80	80	Section 2-307.2), is amended to read as follows:
81	81	Section 2-307.2. A. The 1. From July 1, 1985 to June 30,
82	82	2008, the total service credit of a member who reti res, elects a
83	83	Deferred Option Plan or terminates emplo yment and elects a vested
84	84	benefit shall include not to exceed one hund red thirty (130) days of
85	85	unused sick leave accumula ted while a member of the System. This
86	86	section shall apply to members retiring or vesting on or after July
87	87	1, 1985, and shall not be retroactive.
88	88	RBS No. 401
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139	139	Effective 2. From July 1, 2008, through the effective date of
140	140	this act, a member who retires, elects a Defer red Option Plan or
141	141	terminates employment and elects a vested benefit shall include not
142	142	to exceed two hundred forty (240) days of unused sick leave
143	143	accumulated while a member of the System.
144	144	3. On or after the effective date of this act, a member who
145	145	retires, elects a Deferred Option Plan or terminates employment and
146	146	elects a vested benefit shall include not to exceed three hundred
147	147	sixty (360) days of unused sick leave accumulated while a member of
148	148	the System.
149	149	Such credit shall be added in terms of whole mon ths. Twenty (20)
150	150	days of unused sick leave shall equal on e (1) month for purposes of
151	151	service credit. If unused sick leave entitles a member to an
152	152	additional year or fraction thereof of service credit, th e member’s
153	153	employer shall reimburse the System for the cost of funding the
154	154	additional reserve by paying the a mount determined by the Board
155	155	pursuant to Section 25 of this act. Each employer shall provide the
156	156	System with adequate and timely information nece ssary to determine
157	157	additional benefits and its cost under this section. This section
158	158	shall apply to members retiring or vesting on or after July 1, 1985,
159	159	and shall not be retroactive. The amount of accrued sick leave
160	160	available for determination of a mem ber’s monthly benefit for
161	161	purposes of the deferred o ption election shall be limited to the
162	162	accrued sick leave available as of the effective date of the
163	163	RBS No. 401
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214	214	deferred option election , but not to exceed two hundred forty (240)
215	215	days. The member’s monthly benefit determined as of the effective
216	216	date of the deferred option election shall not be adjusted for
217	217	additional accrued sick leave earned by the member after the
218	218	deferred option election.
219	219	B. Whenever any member is unable to perform the member ’s duties
220	220	because of sickness or temporary disability caused or sustaine d
221	221	while in the discharge of the member ’s duty as a member, is
222	222	receiving a temporary total disability benefit u nder Section 1 et
223	223	seq. of Title 85A of the Oklahoma Statutes, and does not purchase
224	224	service credit as described below, such member shall only rece ive
225	225	prorated service credit based on the contributions mad e by the
226	226	member and the member ’s employer while the member is receiving a
227	227	temporary total disability benefit under Section 1 et seq. of Title
228	228	85A of the Oklahoma Statutes. Whenever any member is un able to
229	229	perform the member’s duties because of sickness or temporary
230	230	disability caused or sustained while in the discharge of the
231	231	member’s duty as a member and is receiving a temporary disability
232	232	benefit under Section 1 et seq. of Title 85A of the Oklahoma
233	233	Statutes, such member shall have the option to purchase s ervice
234	234	credit for the time related to such leave of absence for such
235	235	sickness or temporary disability.
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287	287	1. The payment for such purchase must be c ompleted no later
288	288	than three (3) years from the date the member commenced receipt of a
289	289	temporary total disabil ity benefit.
290	290	2. The purchase price shall be:
291	291	a. the actual paid base salary that the member was
292	292	entitled to immediately prior to the member ’s sickness
293	293	or temporary disability minus any vacation or sick
294	294	leave payments received by the member during such
295	295	sickness or temporary disability, multiplied by,
296	296	b. the following percent:
297	297	(1) eighteen percent (18%) for members who are
298	298	suspended without pay, or
299	299	(2) eight percent (8%) for members who are not
300	300	suspended without pay.
301	301	If such member has not been suspended wi thout pay, the employer
302	302	shall contribute, within three (3) months of the completion of the
303	303	member’s purchase of service credit, ten percent (10%) o f the actual
304	304	paid base salary that the member was en titled to immediately prior
305	305	to the member’s sickness or temporary disability minus any vacation
306	306	or sick leave payments received by the member during such sickness
307	307	or temporary disability.
308	308	3. The member may purchase such service credit through:
309	309	a. a cash lump-sum payment,
310	310	RBS No. 401
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361	361	b. a trustee-to-trustee transfer of non -Roth funds from a
362	362	Code Section 403(b) annuity or custodial account, an
363	363	eligible deferred compensation plan described in Code
364	364	Section 457(b) which i s maintained by an eligible
365	365	employer described in Co de Section 457(e)(1)(A),
366	366	and/or a Code Section 401(a) qua lified plan,
367	367	c. a direct rollover of tax -deferred funds from a Code
368	368	Section 403(b) annuity or custodial account, an
369	369	eligible deferred compensation plan described in Code
370	370	Section 457(b) which is maint ained by an eligible
371	371	employer described in Code Section 4 57(e)(1)(A), a
372	372	Code Section 401(a) qualified plan, and/or a Code
373	373	Section 408(a) or 408(b) traditional or conduit
374	374	Individual Retirement Account or A nnuity (IRA). Roth
375	375	accounts, Coverdell Education Sa vings Accounts and
376	376	after-tax contributions shall not be u sed to purchase
377	377	such service credit, or
378	378	d. any combination of the above methods of payment.
379	379
380	380	58-1-401 CB 1/21/2021 1:36:34 PM

Oklahoma 2022 Regular Session

Oklahoma Senate Bill SB741 Compare Versions