Okla. Stat. tit. 74, § 74-901
This is the official text of Okla. Stat. tit. 74, § 74-901, part of Oklahoma’s Stat. tit. 74, — part of the compiled statutory law of Oklahoma, published by the state as "Stat. tit. 74,." Browse the sections below, each linked to its official government source.
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Purpose – Establishment as qualified governmental
Official statutory text
retirement plan under federal law.
Oklahoma Statutes - Title 74. State Government Page 591
A. The purpose of this act is to provide an orderly means
whereby employees of the participating employers who qualify by
reason of age, or condition, and service, as herein set forth, may
be transferred to inactive service without prejudice and without
inflicting undue hardship upon the employees transferred, and to
enable such employees to accumulate deferred income reserves for
themselves and their dependents to provide for old age, death, and
inactive service, and for the purpose of effecting economy and
efficiency in the administration of governmental affairs.
B. The System is established as a qualified governmental
retirement plan under Sections 401(a) and 414(d) of the federal
Internal Revenue Code. The Board shall administer the System in
order to comply with the applicable provisions of the federal
Internal Revenue Code.
Oklahoma Statutes - Title 74. State Government Page 591
A. The purpose of this act is to provide an orderly means
whereby employees of the participating employers who qualify by
reason of age, or condition, and service, as herein set forth, may
be transferred to inactive service without prejudice and without
inflicting undue hardship upon the employees transferred, and to
enable such employees to accumulate deferred income reserves for
themselves and their dependents to provide for old age, death, and
inactive service, and for the purpose of effecting economy and
efficiency in the administration of governmental affairs.
B. The System is established as a qualified governmental
retirement plan under Sections 401(a) and 414(d) of the federal
Internal Revenue Code. The Board shall administer the System in
order to comply with the applicable provisions of the federal
Internal Revenue Code.
Status: in_force · Read it on the official government site
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