Okla. Stat. tit. 74, § 74-935.9: Investment options – Service providers

The Board of Trustees shall contract with one or more business

entities in order to create a range of choices regarding investment

of funds deposited into defined contribution system accounts. The

investment options shall be substantially similar to the options

provided to members of the Oklahoma Public Employees Retirement

System that maintain a Deferred Savings Incentive Plan account as

offered by the System pursuant to the provisions of the Deferred

Savings Incentive Plan. In selecting investment options for

participants in the plan, the Board shall give due consideration to

offering investment options provided by business entities that

provide guaranteed lifetime income in retirement such as annuities,

guaranteed investment contracts, or similar products. The Board may

amend any of its existing contracts with its current service

providers to perform substantially the same type of service the

provider is currently performing for the Board, in order to

facilitate the timely introduction of the new defined contribution

system created by this act. Thereafter, the contracting process for

the selection of service providers carrying out duties related to

the administration of the plan shall be the same as the selection

process for other providers selected by the Board under subsection D

of Section 909.1 of Title 74 of the Oklahoma Statutes.