Oklahoma § 20-1103 - Contributions - Oklahoma Judicial Retirement Fund Returns

§ 20-1103. Contributions - Oklahoma Judicial Retirement Fund Returns

A. Effective September 1, 2005, each Justice or judge who is a

member of The Uniform Retirement System for Justices and Judges

shall have eight percent (8%) of his or her current monthly salary

withheld by the State of Oklahoma and deposited in a fund in the

State Treasury which is hereby created and shall be known as the

Oklahoma Judicial Retirement Fund. If a Justice or judge shall

cease to be a Justice or judge of the above-mentioned courts, for

any reason, before he or she has accumulated eight (8) years of

accredited service, or dies after he or she has accumulated eight

(8) years’ service and having no survivor benefit, then all the

contributions retained from his or her salary shall be paid to him

or her or his or her named beneficiary, or his or her estate in case

of no named beneficiary, and he or she shall have no further claim

against the State of Oklahoma for retirement pay for his or her

services to date.

B. Notwithstanding any provision to the contrary, the

compensation taken into account for any judge or Justice in

determining contributions or benefit accruals for any plan year is

limited to the annual compensation limit under Section 401(a)(17) of

the federal Internal Revenue Code.

C. Upon death of a retired judge who has no survivor benefits,

there shall be paid to his or her named beneficiary, or his or her

estate in case of no named beneficiary, an amount equal to the

Oklahoma Statutes - Title 20. Courts

excess, if any, of his or her accumulated contributions over the sum

of all retirement benefit payments made.

D. Upon the death of a retired member, the benefit payment for

the month in which the retired member died, if not previously paid,

shall be made to the estate of the member or to the member’s

beneficiary if there is no estate. Such benefit payment shall be

made in an amount equal to a full monthly benefit payment regardless

of the day of the month in which the retired member died.

Added by Laws 1968, c. 128, § 3, emerg. eff. April 8, 1968. Amended

by Laws 1969, c. 328, § 2, emerg. eff. May 7, 1969; Laws 1974, c.

247, § 2, emerg. eff. May 23, 1974; Laws 1976, c. 271, § 13, emerg.

eff. June 15, 1976; Laws 1979, c. 255, § 2, eff. July 1, 1979; Laws

1998, c. 419, § 5, eff. July 1, 1998; Laws 1999, c. 257, § 11, eff.

July 1, 1999; Laws 2004, c. 539, § 1, eff. July 1, 2004; Laws 2005,

c. 464, § 4, eff. Sept. 1, 2005.