Okla. Admin. Code § 590:35-1-3
The following words, terms, or phrases, when used in this Chapter, shall have the following meaning, unless the context clearly indicates otherwise:
"Account" means any of the accounts established for a Participant under the Plan, as described in Section 590:35-5-1.
"Allocation Date" means each business day of the calendar year.
"Beneficiary" means beneficiary or beneficiaries designated in writing by the Participant. If more than one designated beneficiary survives the Participant, payments shall be made equally to the surviving beneficiaries unless otherwise provided in the form provided by the Plan Administrator. Nothing herein shall prevent the Participant from designating primary and contingent beneficiaries.
"Board of Trustees" means the Oklahoma Public Employees Retirement System Board of Trustees, acting by and through the Plan Administrator.
"Code" means the Internal Revenue Code of 1986, as amended.
"Compensation" with respect to a Participant means taxable gross income from the Employer. Notwithstanding the prior sentence, Compensation shall include amounts deferred pursuant to Code Sections 125, 402(h), 402(a)(8), 457, 414(h), and 403(b). For purposes of the Plan, only compensation from the Employer that is attributable to services performed for the Employer may be includable in gross income. The Compensation taken into account under the Plan shall not exceed the "OBRA '93 annual compensation limit." The "OBRA '93 annual compensation limit" is $150,000, as adjusted by the Commissioner of Internal Revenue for increases in the cost of living in accordance with Code Section 401(a)(17)(B). The cost-of-living adjustment in effect for a calendar year applies to any period, not exceeding 12 months, over which Compensation is determined ("Determination Period") beginning in such calendar year. If a Determination Period consists of fewer than 12 months, the OBRA '93 annual compensation limit will be multiplied by a fraction, the numerator of which is the number of months in the Determination Period, and the denominator of which is 12. Compensation of each Participant taken into account in determining allocations for any Plan Year beginning after December 31, 2001, shall not exceed Two Hundred Thousand Dollars ($200,000), as adjusted for cost-of-living increases in accordance with Code Section 401(a)(17)(B). Compensation means Compensation during the Plan Year or other consecutive twelve (12) month period over which Compensation is otherwise determined under the Plan (the Determination Period). The cost-of-living adjustment in effect for a calendar year applies to Compensation for the Determination Period that begins with or within such calendar year.
"Deferred Compensation Plan" means the Oklahoma State Employees Deferred Compensation Plan and as it may be amended from time to time, which is governed by Code Section 457.
"Disability" means an actual and continuous physical or mental incapacity which causes the Participant to be retired with a retirement under the Participant's State retirement plan.
"Early Retirement" means the first date upon which each of the following shall have occurred: separation from service and attainment of Early Retirement Age.
"Early Retirement Age" means age 55.
"Effective Date" means January 1, 1998.
"Employer" means The State of Oklahoma, its agencies and any duly constituted authority or instrumentality of the State of Oklahoma.
"Employer Contribution" means the amount contributed to the Plan by the Employer on behalf of Participants under Section 590:35-7-1.
"Fiscal Year" means the fiscal year of the State of Oklahoma, which is July 1 to June 30.
"Limited Participant" means a Participant who is not a State Employee or who is not otherwise a Qualified Participant and who has amounts in the Plan as a result of the transfer of excess contributions from the Oklahoma Public Employees Retirement System pursuant to Section 910.5 of Title 74 of the Oklahoma Statutes.
"Normal Retirement" means the first date upon which each of the following shall have occurred: separation from service and attainment of Normal Retirement Age.
"Normal Retirement Age" means age 62.
"Participant" means a State Employee who is participating in the Plan or who has funds invested in accordance with its provisions or any former State Employee who is retired or who has had a Termination of Service, but who has not received a distribution of his entire interest under the Plan or a person who has funds invested in the Plan as a result of the transfer of excess contributions from the Oklahoma Public Employees Retirement System.
"Plan" means the Oklahoma State Employees Deferred Savings Incentive Plan and as it may be amended from time to time.
"Plan Administrator" means the person designated by the Board of Trustees to administer the Plan.
"Plan Year" means the twelve month period ending on June 30.
"Qualified Participant" means a State Employee who is an active participant in the Oklahoma State Employees Deferred Compensation Plan making deferrals of at least twenty-five dollars ($25.00) per month.
"Recordkeeper" means the company designated by the Board of Trustees to perform recordkeeping, administrative, and/or investment services to the Plan.
"State Employee" means any officer or employee of the executive, legislative or judicial branches of the government of the State of Oklahoma who is an active member of a public retirement system of the State of Oklahoma, but does not include:
(A) Employees of the public elementary, secondary, or area vocational school districts;
(B) Employees of The Oklahoma State System of Higher Education except employees of the Oklahoma State Regents of Higher Education and employees of the governing boards;
(C) Persons on temporary, student, internship, or other limited-term appointments except for Executive Fellows in the Carl Albert Public Internship Program created in Section 840-3.4 of Title 74 of Oklahoma Statutes;
(D) Persons employed pursuant to Section 1.6a of Title 53 of the Oklahoma Statutes or Section 1806.1 of Title 74 of the Oklahoma Statutes; or
"Termination of Service" means the severance of the Participant's employment relationship with the Employer prior to his Early Retirement, Normal Retirement, death or Disability, including Limited Participants severing the employment relations with an OPERS participating employer.
"Trust" means the provisions of this document that comprise the trust established hereunder.
"Trust Fund" means the fund established under the Trust, with the Board of Trustees as trustee, and held by said trustee in accordance with this Plan and Trust, to which deposits and contributions under this Plan and Trust will be made and out of which benefits under this Plan and Trust will be provided.
"Trustee" means the individuals appointed to the Board of Trustees to administer the Trust Fund in accordance with this Plan and Trust.
"Valuation Date" means each business day of the calendar year. On each Valuation Date, the Recordkeeper shall determine the value of the Trust Fund.
Okla. Admin. Code § 590:35-1-3