Alternate retirement plans for eligible employees are hereby authorized at participating institutions in lieu of the retirement plan offered by the Teachers' Retirement System of Oklahoma. Alternate retirement plans shall, for eligible employees, provide retirement and death benefits to such employees through the purchase of annuity contracts, qualified retirement trusts or custodial accounts, fixed or variable in nature, or a combination thereof, at the option of the participating institution.
Added by Laws 2004, c. 385, § 3, eff. July 1, 2004. Amended by Laws 2017, c. 285, § 2, eff. Nov. 1, 2017.