Section 17-107 - Disposition of interest The interest earned on the investments in the Teachers' Retirement System of Oklahoma shall be credited in the following manner:
1. There shall be deducted from the annual interest on investments an amount necessary for the amortization of bonds purchased and owned by the Teachers' Retirement System of Oklahoma;
2. There shall be deducted from the annual interest on investments an amount of money necessary for the operation of the Teachers' Retirement System of Oklahoma; and3. Any residue remaining in the Interest Fund after the requirements of paragraphs 1 and 2 of this section have been fully met shall be used for the purpose of paying retirement benefits to the retirees of the Teachers' Retirement System of Oklahoma and transferred to the Retirement Benefit Fund; the interest income shall be distributed to the various funds on June 30 each year.Okla. Stat. tit. 70, § 17-107
Amended by Laws 2024, c. 300,s. 7, eff. 7/1/2024.Laws 1969, HB 1136, c. 157, § 7; Amended by Laws 1970, HB 1586, c. 176, § 4, emerg. eff. 8/2/1970; Amended by Laws 1971, HB 1155, c. 281, § 24-122, emerg. eff. 7/2/1971; Amended by Laws 1974, SB 112, c. 246, § 2, emerg. eff. 7/1/1974; Amended by Laws 1975, HB 1320, c. 353, § 2, emerg. eff. 7/1/1975; Amended by Laws 1980, HB 1079, c. 270, § 1, emerg. eff. 7/1/1980; Amended by Laws 1982, SB 398, c. 227, § 5, emerg. eff. 5/4/1982; Amended by Laws 1983, SB 85, c. 6, § 3, emerg. eff. 2/24/1983; Amended by Laws 1986, HB 1559, c. 131, § 19, emerg. eff. 7/1/1986; Amended by Laws 1988, HB 1582, c. 321, § 30, emerg. eff. 7/1/1988.