Okla. Admin. Code § 590:40-7-50
Current through Vol. 42, No. 8, January 2, 2025
There shall be created a Trust under this Subchapter 7 for all contributions paid into the 401(a) plan. The Board of Trustees shall act as trustee of the Trust. The Board shall take, hold, invest, administer, and distribute in accordance with this Plan and Trust, all contributions and assets paid or delivered to the Board pursuant to the Plan for the uses and purposes herein expressed. The Board shall be accountable for all contributions received, but shall have no duty to require any contributions to be made or to determine that the amounts received comply with the Plan, or to determine that the Trust Fund is adequate to provide the benefits payable under the Plan.
Okla. Admin. Code § 590:40-7-50