Okla. Admin. Code § 590:40-9-23

Current through Vol. 42, No. 8, January 2, 2025

Section 590:40-9-23 - Default options

(a)Failure to select. In the event a Participant fails to select any investment option upon enrollment in the Plan, the Board shall, by resolution, establish a default investment option for contributions received from the Participant. Contributions invested in the default option shall remain in such option until the Participant directs the contributions to be invested in another investment option offered by the Plan.

(b)Termination or elimination of options. In the event of termination or elimination of any investment option from continued offering under the Plan, the Board may select default investment options for placement of affected funds. The Board may also designate periods where Participants may have no access to select investment options.

Okla. Admin. Code § 590:40-9-23

Adopted by Oklahoma Register, Volume 32, Issue 24, September 1, 2015, eff. 9/11/2015

Amended by Oklahoma Register, Volume 33, Issue 24, September 1, 2016, eff. 9/11/2016