SECTION 590:1-1-4. Executive Director

(a)   The Executive Director is appointed by the Board of Trustees and is the administrative officer for the Board. He is responsible for the general administration of the Retirement System.

(b)   The Executive Director shall have the following powers and duties:

(1)   Responsibility for maintaining records of the individual Members, records of all types of funds, reserves, and equipment necessary for the operation of the accounting procedures.

(2)   Under his direction, coordination of investments with the Investment Managers; establishing and monitoring acceptable methods for receipt, recording and depositing of all funds of the System; and directing the implementation of investment policies of the Board by coordination with the Investment Managers.

(3)   Under his direction, approval of Enrollment Applications, responsibility for the proper enrollment of members, and providing information to Retirement Coordinators and participants as to the benefits.

(4)   Withholding income tax from benefits paid by the Oklahoma Public Employees Retirement System, unless election is made to make an estimated payment directly to the IRS. Alternatives are available to retirants for withholding purposes.

(c)   The Executive Director and Deputy Director are authorized to sign all vouchers for the State Retirement System. Persons authorized by the Executive Director shall sign the vouchers in the event of the absence of the Executive Director or the Deputy Director.

[Source: Amended at 12 Ok Reg 3235, eff 7-27-95; Amended at 13 Ok Reg 3325, eff 7-25-96]