Oklahoma § 65-560 - Retirement system

§ 65-560. Retirement system

If, pursuant to the provisions of Chapter 37 of Title 11 of the

Oklahoma Statutes, or of any statute supplemental thereto or of any

charter provision of the city, a retirement system is established

for the employees of the city, the employees of the city-county

library system may be included in that retirement system on the same

basis applicable to employees of the city, if the commission so

recommends and the governing body of the city approves. Nothing

otherwise provided by law shall operate to prohibit the

appropriation of county funds for the payment of the county's pro

rata share of the contribution to be made to the retirement fund on

behalf of the employees of the city-county library system. In the

event funds become available for library purposes pursuant to the

provisions of Article X, Section 10A, of the Oklahoma Constitution,

the entire contribution on behalf of the employees of the citycounty library system may be paid from such funds. The commission

may act so as to cause its employees to be included in the state

retirement system and from its funds make the contributions

necessary therefor. The commission may, in lieu of participation in

the above-mentioned retirement systems, provide for the retirement

of the employees of the city-county library system by the

establishment of a self-insured trust, or by the purchase of annuity

contracts or pension contracts from any insurance company authorized

to do business in the State of Oklahoma.

Added by Laws 1965, c. 192, § 10, emerg. eff. June 8, 1965. Amended

by Laws 1968, c. 196, § 1, emerg. eff. April 15, 1968.