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Oklahoma Administrative Code (Last Updated: March 11, 2021) |
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TITLE 590. Oklahoma Public Employees Retirement System |
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Chapter 35. Deferred Savings Incentive Plan |
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Subchapter 21. Administration Functions of the Plan |
SECTION 590:35-21-2. Duties of Plan Administrator
Latest version.
- Subject to the provisions of Section 1707 of Title 74 of the Oklahoma Statutes, the following provisions shall be applicable to the Plan Administrator:(1) The Plan Administrator will operate and administer the Plan and shall have all powers necessary to accomplish that purpose, and will determine all questions arising under or in connection with the Plan. Whenever directions, designations, applications, requests, or other notices are to be given by a Participant under the Plan, they shall be on forms prescribed by the Plan Administrator and shall be filed when and in such manner as shall be specified by the Plan Administrator. Determinations on all questions arising out of or in conjunction with the provisions of the Plan, not herein required to be determined by the Board of Trustees shall be made by the Plan Administrator, and any such determination shall be conclusive and binding upon all persons having an interest in or under this Plan, subject to the administrative hearing procedures set forth in 590:1-1-6.(2) Without limiting the powers set forth in paragraph (1) of this Section, the Plan Administrator shall have the power (i) to meet special circumstances not anticipated or covered in the Plan; (ii) to employ such agents and assistants, administrative service providers, such counsel and such clerical, actuarial and other services as the Plan Administrator may require in carrying out the provisions of the Plan; and (iii) to authorize one or more of their number or any agent to execute or deliver any instrument on behalf of the Plan Administrator.