Okla. Stat. tit. 74, § 74-909: Policies and rules for general administration

(1) The Board of Trustees shall be responsible for the policies

and rules for the general administration of the system, subject to

the provisions of this act.

(2) The Board shall establish rules and regulations for the

administration of the system and for the transaction of its business

consistent with law, which rules and regulations shall be filed in

the office of the Secretary of State.

(3) The Board shall be responsible for the installation or

provision of a complete and adequate system of accounts and records.

(4) All meetings of the Board shall be open to the public. The

Board shall keep a record of its proceedings.

(5) The Board shall prescribe rules for the determination of

the value of maintenance, board, lodging, laundry, and other

allowances to employees in lieu of money and shall determine which

forms or types of compensation shall be included for retirement

purposes.

(6) The Board may adopt all necessary actuarial tables to be

used in the operation of the system as recommended by the actuary

and may compile such additional data as may be necessary for

required actuarial valuation calculations.

(7) The Board, as soon after the close of the fiscal year as

practical, shall publish for distribution among members a financial

statement showing the financial status of the system.

(8) All decisions of the Board as to questions of fact shall be

final and conclusive on all persons except for the right of review

as provided by law and except for fraud or such gross mistake of

fact as to have effect equivalent to fraud.