{"data":{"id":"us-ok/okla.-stat.-tit.-70-70-17-121","jurisdiction":"us-ok","citation":"Okla. Stat. tit. 70, § 70-17-121","heading":"Oklahoma Teachers' Deferred Savings Incentive Plan","body":"A. Effective July 1, 1999, for each active contributing member\n\nof the Teachers' Retirement System of Oklahoma, who is making\n\ncontributions of at least Twenty-five Dollars ($25.00) per month to\n\na plan account maintained by the Teachers' Retirement System of\n\nOklahoma pursuant to Section 403(b) of Title 26 of the United States\n\nCode, 26 U.S.C. Section 403(b), the Teachers' Retirement System\n\nshall pay each month from funds appropriated to the Oklahoma\n\nTeachers' Deferred Savings Incentive Plan Fund created pursuant to\n\nthis section the sum of Twenty-five Dollars ($25.00) to a plan\n\nestablished pursuant to the Internal Revenue Code, Section 401(a),\n\nfor the benefit of the participant.\n\nB. If monies in the Oklahoma Teachers' Deferred Savings\n\nIncentive Plan Fund are insufficient to fully fund the contributions\n\nin any month, payments shall be suspended until such time as\n\nsufficient monies are available.\n\nC. The Teachers' Retirement System shall be responsible for\n\nestablishing rules and plan documents for administration of the\n\ncontributions authorized by this section. Funds so credited shall\n\nbe held and invested in the same manner as funds managed in accounts\n\nof members contributing to an account established pursuant to\n\nSection 403(b) of the Internal Revenue Code of 1986, as amended.\n\nD. There is hereby created in the State Treasury a revolving\n\nfund to be designated the \"Oklahoma Teachers' Deferred Savings\n\nIncentive Plan Fund\". The fund shall be a continuing fund, not\n\nsubject to fiscal year limitations, and shall consist of any monies\n\nthe Legislature may appropriate or transfer to the fund and any\n\nmonies contributed for the fund from any other sources, public or\n\nprivate. All monies accruing to the credit of said fund are hereby\n\nappropriated and may be budgeted and expended by the Teachers'\n\nRetirement System of Oklahoma for the matching of deferred\n\ncompensation contributions pursuant to this section and in\n\naccordance with rules promulgated by the Teachers' Retirement System\n\nof Oklahoma. Expenditures from the fund shall be made by warrants\n\nissued by the State Treasurer against claims filed as prescribed by\n\nlaw with the Director of the Office of Management and Enterprise\n\nServices for approval and payment.","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":"dc8dd1401adbddec48a1267fd5322bfd38c50411d83aa97b254af951b4b39554","source_id":"us-ok","stale":false,"prev":"us-ok/okla.-stat.-tit.-70-70-17-120","next":"us-ok/okla.-stat.-tit.-70-70-17-122"},"notice":"GroundRules: Original legal text. Not legal advice."}