Okla. Stat. tit. 70, § 70-17-121: Oklahoma Teachers' Deferred Savings Incentive Plan

A. Effective July 1, 1999, for each active contributing member

of the Teachers' Retirement System of Oklahoma, who is making

contributions of at least Twenty-five Dollars ($25.00) per month to

a plan account maintained by the Teachers' Retirement System of

Oklahoma pursuant to Section 403(b) of Title 26 of the United States

Code, 26 U.S.C. Section 403(b), the Teachers' Retirement System

shall pay each month from funds appropriated to the Oklahoma

Teachers' Deferred Savings Incentive Plan Fund created pursuant to

this section the sum of Twenty-five Dollars ($25.00) to a plan

established pursuant to the Internal Revenue Code, Section 401(a),

for the benefit of the participant.

B. If monies in the Oklahoma Teachers' Deferred Savings

Incentive Plan Fund are insufficient to fully fund the contributions

in any month, payments shall be suspended until such time as

sufficient monies are available.

C. The Teachers' Retirement System shall be responsible for

establishing rules and plan documents for administration of the

contributions authorized by this section. Funds so credited shall

be held and invested in the same manner as funds managed in accounts

of members contributing to an account established pursuant to

Section 403(b) of the Internal Revenue Code of 1986, as amended.

D. There is hereby created in the State Treasury a revolving

fund to be designated the "Oklahoma Teachers' Deferred Savings

Incentive Plan Fund". The fund shall be a continuing fund, not

subject to fiscal year limitations, and shall consist of any monies

the Legislature may appropriate or transfer to the fund and any

monies contributed for the fund from any other sources, public or

private. All monies accruing to the credit of said fund are hereby

appropriated and may be budgeted and expended by the Teachers'

Retirement System of Oklahoma for the matching of deferred

compensation contributions pursuant to this section and in

accordance with rules promulgated by the Teachers' Retirement System

of Oklahoma. Expenditures from the fund shall be made by warrants

issued by the State Treasurer against claims filed as prescribed by

law with the Director of the Office of Management and Enterprise

Services for approval and payment.