§70-17-106.3. Deposit of contributions and dedicated revenues -
194 words·~1 min read·
/ok/title-70-schools/70-17-106-3·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
Warrants and vouchers.
A. All employee and employer contributions and dedicated revenues shall be deposited in the Oklahoma Teachers’ Retirement Fund in the State Treasury. The Board of Trustees of the Teachers’ Retirement System of Oklahoma shall have the responsibility for the management of the Oklahoma Teachers’ Retirement Fund, and may transfer monies used for investment purposes by the Teachers’ Retirement System of Oklahoma from the Oklahoma Teachers’ Retirement Fund in the State Treasury to the custodian bank or trust company of the System.
B. All benefits payable pursuant to the provisions of the Teachers’ Retirement System of Oklahoma, refunds of contribution and overpayments, and all administrative expenses in connection with the System shall be paid from the Oklahoma Teachers’ Retirement Fund upon warrants or vouchers signed by two persons designated by the Board of Trustees. The Board of Trustees may transfer monies from the custodian bank or trust company of the System to the Oklahoma Teachers’ Retirement Fund in the State Treasury for the purposes specified in this subsection. Added by Laws 1988, c. 321, § 29, operative July 1, 1988. Amended by Laws 2024, c. 300, § 6, eff. July 1, 2024.