Oklahoma § 74-920B - Remittance of retirement contributions

§ 74-920B. Remittance of retirement contributions

A. All participating employers shall remit to the Oklahoma

Public Employees Retirement System all required retirement

contributions due on a monthly basis. All employee contributions

withheld shall be considered trust funds held by the employer on

behalf of the employee and shall be promptly remitted to the System

pursuant to subsection B of this section.

B. For non-state agency employers, all required employer and

employee contributions and supporting documentation are due and must

be received by the System on or before the fifteenth day of the

month following the month for which the contributions are due. For

state agency employers, all required employer and employee

contributions and supporting documentation are due and must be

received by the System on or before the fifteenth day following the

last day of the payroll period for which said contributions are due.

C. Employer and employee contributions remitted to the System

after thirty (30) days from the due dates set forth in subsection B

Oklahoma Statutes - Title 74. State Government

of this section shall be subject to a monthly late charge of three

percent (3%) of the unpaid balance to be paid by the employer to the

System.

Added by Laws 2004, c. 536, § 28, eff. July 1, 2004. Amended by

Laws 2011, c. 75, § 2.