Opinion No. Ag, (1984)
Court: Oklahoma Attorney General Reports
Number:
Visitors: 6
Judges: MICHAEL C. TURPEN, ATTORNEY GENERAL OF OKLAHOMA
Filed: May 29, 1984
Latest Update: Mar. 03, 2020
Summary: ** STATE EMPLOYEES — RETIREMENT SYSTEM ** IN CALCULATING THE RETIREMENT BENEFITS DUE TO INDIVIDUALS WHO RETIRE FROM OKLAHOMA PUBLIC EMPLOYEES RETIREMENT SYSTEM PRIOR TO JULY 1, 1981, THE PROVISIONS OF 74 Ohio St. 930 .1 [ 74-930.1 ](B) DOES 'NOT' AUTHORIZE TAKING INTO CONSIDERATION PAST COSTS OF LIVING INCREASES AWARDED BY LEGISLATURE. IN THIS REGARD, HOWEVER, SECTION 74 Ohio St. 930 .1 [ 74-930.1 ](B) DOES REQUIRE THE BENEFITS FIGURES ARRIVED AT BY USING THE NEW BENEFIT CALCULATION FORMULA SET
Summary: ** STATE EMPLOYEES — RETIREMENT SYSTEM ** IN CALCULATING THE RETIREMENT BENEFITS DUE TO INDIVIDUALS WHO RETIRE FROM OKLAHOMA PUBLIC EMPLOYEES RETIREMENT SYSTEM PRIOR TO JULY 1, 1981, THE PROVISIONS OF 74 Ohio St. 930 .1 [ 74-930.1 ](B) DOES 'NOT' AUTHORIZE TAKING INTO CONSIDERATION PAST COSTS OF LIVING INCREASES AWARDED BY LEGISLATURE. IN THIS REGARD, HOWEVER, SECTION 74 Ohio St. 930 .1 [ 74-930.1 ](B) DOES REQUIRE THE BENEFITS FIGURES ARRIVED AT BY USING THE NEW BENEFIT CALCULATION FORMULA SET F..
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** STATE EMPLOYEES — RETIREMENT SYSTEM ** IN CALCULATING THE RETIREMENT BENEFITS DUE TO INDIVIDUALS WHO RETIRE FROM OKLAHOMA PUBLIC EMPLOYEES RETIREMENT SYSTEM PRIOR TO JULY 1, 1981, THE PROVISIONS OF 74 Ohio St. 930.1 [74-930.1](B) DOES 'NOT' AUTHORIZE TAKING INTO CONSIDERATION PAST COSTS OF LIVING INCREASES AWARDED BY LEGISLATURE. IN THIS REGARD, HOWEVER, SECTION 74 Ohio St. 930.1 [74-930.1](B) DOES REQUIRE THE BENEFITS FIGURES ARRIVED AT BY USING THE NEW BENEFIT CALCULATION FORMULA SET FORTH THEREIN MUST BE COMPARED WITH THE THEN CURRENT BENEFIT LEVELS, INCREASED BY TEN PERCENT(10%) BY THE LANGUAGE OF 74 Ohio St. 930.1 [74-930.1](A) WHICH FIGURES DO NOT INCLUDE PAST COST OF LIVING INCREASES AWARDED BY THE LEGISLATURE. NO INDIVIDUAL COMING WITHIN THE AMBIT OF 74 Ohio St. 930.1 [74-930.1](B) MAY HAVE HIS RETIREMENT BENEFITS DECREASED BELOW THE LEVEL GUARANTEED BY THE LANGUAGE OF 74 Ohio St. 930.1 [74-930.1](A) CITE: OPINION NO. 83-059, 74 Ohio St. 902 [74-902](18), 74 Ohio St. 930.1 [74-930.1], 74 Ohio St. 901 [74-901] (MICHAEL SCOTT FERN)
Source: CourtListener
