Oklahoma § 74-910 - Eligible employers - Procedure for joining System Withdrawal

§ 74-910. Eligible employers - Procedure for joining System Withdrawal

(1) An eligible employer may join the System in January of any

year. Application for affiliation shall be in the form of a

resolution approved by the governing or legislative body of the

eligible employer or by any other body or officer authorized by the

Oklahoma Statutes - Title 74. State Government

law or recognized by the Board to approve such resolution or action;

provided, that no county hospital, city or town, circuit engineering

district or any public or private trust in which a county, city or

town participates and is the primary beneficiary shall become a

participating employer except by the adoption of a resolution

therefor, unless otherwise provided in this act. Upon the filing of

a certified copy of such resolution with the Board, the employer

shall become a participating employer on January 1 of the year

immediately following the filing of such election with the Board.

Such election shall be final and irrevocable and any employer now or

hereafter participating in the System shall not be permitted to

withdraw from the System under any circumstances, including a change

in legal identity of such employer, where the purpose and functions

of such employer remain essentially the same as at the time of

filing of entry into the System. Provided, however, any hospital

joining the System during the period commencing December 1, 1989,

and ending January 31, 1990, or during the period commencing

December 1, 1971, and ending January 31, 1972, shall be permitted to

withdraw from the System by the adoption of resolution therefor by

the hospital board of control. However, no member hospital of the

System shall be allowed to withdraw from the System until such

hospital has satisfied all current obligations to the System. Upon

the filing of a certified copy of such resolution with the Board and

upon the Board's determining that arrangements have been made for

the payment of all financial obligations, if any, due the System by

such withdrawing hospital, such hospital shall cease to be a

participating employer on the first day of the month immediately

following such determination and the filing of such resolution with

the Board. The employees of any such hospital withdrawing from the

System shall have such rights as are provided by Section 912.1 of

this title. Any hospital that withdraws under the provisions of

this act shall be responsible for the payment of any actuarial cost

required as a result of such withdrawal. Provided, however, any

county having a population of less than four hundred thousand

(400,000), according to the latest Federal Decennial Census, shall

become a participating employer on January 1, 1974, notwithstanding

any other provision of statute.

(2) The State of Oklahoma, in its capacity as an eligible

employer shall become a participating employer on the first entry

date and thereafter on the entry date immediately following the

creation of any state agency not now in existence.

(3) From and after the passage of this act no county hospital,

or county or state governmental agency, shall institute a retirement

system other than as provided for in this act, except as to any

other supplemental retirement plans otherwise expressly provided for

by law.

Oklahoma Statutes - Title 74. State Government

Added by Laws 1963, c. 50, § 10, emerg. eff. May 6, 1963. Amended

by Laws 1967, c. 394, § 1, emerg. eff. May 23, 1967; Laws 1968, c.

219, § 1, emerg. eff. April 23, 1968; Laws 1968, c. 400, § 5, emerg.

eff. May 17, 1968; Laws 1970, c. 296, § 2, emerg. eff. April 28,

1970; Laws 1973, c. 279, § 3, emerg. eff. May 30, 1973; Laws 1976,

c. 207, § 2, emerg. eff. June 7, 1976; Laws 1979, c. 285, § 4, eff.

July 1, 1979; Laws 1980, c. 317, § 3, eff. July 1, 1980; Laws 1982,

c. 319, § 2, operative July 1, 1982; Laws 1985, c. 300, § 3, emerg.

eff. July 24, 1985; Laws 1986, c. 238, § 4, operative July 1, 1986;

Laws 1988, c. 284, § 8, operative July 1, 1988; Laws 1989, c. 199, §

1, eff. July 1, 1989; Laws 1990, c. 340, § 33, eff. July 1, 1990;

Laws 1992, c. 376, § 14, eff. July 1, 1992; Laws 1996, c. 96, § 1,

eff. July 1, 1996; Laws 1997, c. 315, § 1, eff. July 1, 1997; Laws

2004, c. 325, § 2, eff. July 1, 2004.