Okla. Stat. tit. 70, § 70-17-204
This is the official text of Okla. Stat. tit. 70, § 70-17-204, part of Oklahoma’s Stat. tit. 70, — part of the compiled statutory law of Oklahoma, published by the state as "Stat. tit. 70,." Browse the sections below, each linked to its official government source.
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Board of regents – Establishment and administration of
Official statutory text
alternative retirement plan.
A. On or before June 30, 2005, the Board of Regents of a
participating institution may establish an alternate retirement plan
pursuant to the provisions of this act, for the entities under the
jurisdiction of such Board of Regents, for eligible employees in
lieu of membership in the Teachers' Retirement System of Oklahoma.
The Board of Regents of the applicable participating institution
shall determine the terms and conditions of the alternate retirement
plan including, by example, terms for eligibility, contributions,
vesting and the amount of benefits, and provide for the
administration of such an alternate retirement plan and perform or
authorize the performance of such functions as may be necessary for
such purpose in accordance with this act.
B. The Board of Regents shall select the company or companies
that shall administer the qualified retirement trust, custodial
accounts or from which annuity contracts are to be purchased under
the alternate retirement plan and shall approve the form and content
of all agreements governing such trusts, accounts or contracts.
C. The Board of Regents of the participating institutions may
delegate certain responsibilities for administering the alternate
retirement plan with respect to each institution's own employees.
A. On or before June 30, 2005, the Board of Regents of a
participating institution may establish an alternate retirement plan
pursuant to the provisions of this act, for the entities under the
jurisdiction of such Board of Regents, for eligible employees in
lieu of membership in the Teachers' Retirement System of Oklahoma.
The Board of Regents of the applicable participating institution
shall determine the terms and conditions of the alternate retirement
plan including, by example, terms for eligibility, contributions,
vesting and the amount of benefits, and provide for the
administration of such an alternate retirement plan and perform or
authorize the performance of such functions as may be necessary for
such purpose in accordance with this act.
B. The Board of Regents shall select the company or companies
that shall administer the qualified retirement trust, custodial
accounts or from which annuity contracts are to be purchased under
the alternate retirement plan and shall approve the form and content
of all agreements governing such trusts, accounts or contracts.
C. The Board of Regents of the participating institutions may
delegate certain responsibilities for administering the alternate
retirement plan with respect to each institution's own employees.
Status: in_force · Read it on the official government site
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