{"data":{"id":"us-ok/okla.-stat.-tit.-70-70-17-116.7","jurisdiction":"us-ok","citation":"Okla. Stat. tit. 70, § 70-17-116.7","heading":"Supplemental pension benefits - Audits - Reports","body":"A. After the effective date of this act, before entering into\n\nany type of contract that creates an unfunded liability and is for\n\nthe purpose of enhancing pension benefits for employees beyond the\n\nprovisions of the Teachers' Retirement System of Oklahoma, a state\n\ninstitution of higher education, technology center school district,\n\nor public school district, unless otherwise provided by law, shall\n\nforward to the Office of the Attorney General a copy of the contract\n\nand a copy of an actuarial report indicating the amount of unfunded\n\nliability that would be created pursuant to the contract. The\n\nAttorney General shall review the contract to ensure that the\n\ncontract conforms to state law. No such contract shall be signed by\n\nthe education entity until the Attorney General approves the\n\ncontract. Any such contract entered into without complying with the\n\nrequirements of this section shall be void.\n\nB. In order to make the Legislature and Governor more aware of\n\nthe effect of unfunded pension benefits and other post-employment\n\nbenefits on state finances, annual audits conducted pursuant to law\n\non state institutions of higher education, technology center school\n\ndistricts, and school districts shall be prepared in accordance with\n\nappropriate accounting standards pertaining to unfunded pension\n\nbenefits and other post-employment benefits. The State Regents for\n\nHigher Education, the State Board of Career and Technology Education\n\nand the State Board of Education, jointly, shall have the\n\ninformation pertaining to benefits compiled into an annual report\n\nthat shall be distributed to the Governor, the Speaker of the House\n\nof Representatives, and the President Pro Tempore of the Senate.","path":["OK Code","Title 70"],"source_url":"https://www.oklegislature.gov/OK_Statutes/CompleteTitles/os70.pdf","current_through":"2026-08-14","vintage":"open-us-law v2026.08, retrieved 2026-09-14","retrieved_at":"2026-09-14T18:32:36Z","sha256":"35adcd303962a0a8fd778f39c158cdb24067b5331f9db8d133324595ad080463","source_id":"us-ok","stale":false,"prev":"us-ok/okla.-stat.-tit.-70-70-17-116.6","next":"us-ok/okla.-stat.-tit.-70-70-17-116.8"},"notice":"GroundRules: Original legal text. Not legal advice."}