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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 40. Defined Contribution System |
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Subchapter 3. Administration of Defined Contribution System - Applicable to The 401(A) Plan and the 457(B) Plan |
SECTION 590:40-3-2. Defined contribution system coordinator
Latest version.
- (a) Appointment. Coordinators shall be appointed by each Employer to serve as a liaison among the Participant, OPERS, and the Employer.(b) Responsibilities. Coordinators shall be responsible for the enrollment, assistance in completion of forms, and instructions to the Participants on behalf of the Employer relating to the Defined Contribution System and the Plans.(c) Notice to Participants; Plan information. The coordinator shall be responsible for ensuring each Participant is provided basic information about the Plans, including publications and official notices from OPERS or the Recordkeeper. The coordinator shall also direct the Participant to the website of OPERS or the Recordkeeper for more specific information about the Plans. Each coordinator shall establish and maintain sufficient documentation to verify compliance with this section, and shall furnish the verification upon request by OPERS.(d) Employment; training; liability. The coordinator shall be employed by and under the authority of each Employer and shall not be an employee of OPERS. OPERS will make available information and training opportunities. However, it shall be the responsibility of the coordinator to become familiar with the Plans' provisions and keep abreast of all changes and amendments. Neither OPERS nor the Board shall be liable for or bound by any mistakes, errors, or misrepresentations of the coordinators.