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§47-2-303.3.
§47-2-303.3.
A. Except as otherwise provided by this section, any annuity,
benefits, fund, property, or rights created by or accruing to any
person pursuant to the provisions of Sections 2-300 through 2-313 of
this title shall not be subject to execution, garnishment or
attachment, and shall be unassignable, except as specifically provided
by Sections 2-300 through 2-313 of this title. Notwithstanding the
foregoing, the Board may approve any offset of a member's benefit to
pay a judgment or settlement against the member for a crime involving
the System or for a breach of the member's fiduciary duty to the
System, provided such offset is in accordance with the requirements of
Section 401(a)(13) of the Internal Revenue Code of 1986, as amended.
B. 1. The provisions of subsection A of this section shall not apply
to a qualified domestic order as provided pursuant to this subsection.
2. The term "qualified domestic order" means an order issued by a
district court of this state pursuant to the domestic relation laws of
the State of Oklahoma which relates to the provision of marital
property rights to a spouse or former spouse of a member or provision
of support for a minor child or children and which creates or
recognizes the existence of the right of an alternate payee, or
assigns to an alternate payee the right, to receive a portion of the
benefits payable with respect to a member of the System.
3. For purposes of the payment of marital property, to qualify as an
alternate payee, a spouse or former spouse must have been married to
the related member for a period of not less than thirty (30)
continuous months immediately preceding the commencement of the
proceedings from which the qualified domestic order issues.
4. A qualified domestic order is valid and binding on the Board and
the related member only if it meets the requirements of this
subsection.
5. A qualified domestic order shall clearly specify:
a. the name and last-known mailing address (if any) of the member and
the name and mailing address of the alternate payee covered by the
order,
b. the amount or percentage of the member's benefits to be paid by the
System to the alternate payee,
c. the number of payments or period to which such order applies,
d. the characterization of the benefit as to marital property rights
or child support, and
e. each plan to which such order applies.
6. A qualified domestic order meets the requirements of this
subsection only if such order:
a. does not require the System to provide any type or form of benefit,
or any option not otherwise provided under state law as relates to the
System,
b. does not require the System to provide increased benefits, and
c. does not require the payment of benefits to an alternate payee
which are required to be paid to another alternate payee pursuant to
another order previously determined to be a qualified domestic order
or an order recognized by the System as a valid order prior to the
effective date of this act.
7. A qualified domestic order shall not require payment of benefits to
an alternate payee prior to the actual retirement date of the related
member.
8. The obligation of the System to pay an alternate payee pursuant to
a qualified domestic order shall cease upon the death of the related
member.
9. This subsection shall not be subject to the provisions of the
Employee Retirement Income Security Act of 1974 (ERISA), 29 U.S.C.A.
Section 1001, et seq., as amended from time to time, or rules and
regulations promulgated thereunder, and court cases interpreting said
act.
10. The Oklahoma Law Enforcement Retirement Board shall promulgate
such rules as are necessary to implement the provisions of this
subsection.
11. An alternate payee who has acquired beneficiary rights pursuant to
a valid qualified domestic order must fully comply with all provisions
of the rules promulgated by the Board pursuant to this subsection in
order to continue receiving his or her benefit.
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