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Full-time-equivalent employment - a term which refers to a member's (1) actual employment (2) with a participating employer of the Oklahoma Public Employees Retirement System. A member obtains full-time-equivalent employment in two ways. The first way is obvious: working for a participating employer. Each hour for which retirement contributions are paid credits the member with 1 hour of full-time-equivalent employment. Therefore, if retirement contributions are paid for 173 hours, the member would accrue one month of full-time-equivalent employment. The second way a member can receive full-time-equivalent employment is by making certain types of purchases of OPERS service credit. However, the only types of purchases which constitute full-time-equivalent employment are those which represent (1) actual employment (2) with a participating employer of the Oklahoma Public Employees Retirement System.
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