1-9A-4: CONTRIBUTIONS:

Employer contributions shall be paid from amounts appropriated for these purposes from available funds to the designated state or federal agency in accordance with applicable state or federal laws or regulations. (1989 Code § 2-604)

1-9A-5: RECORDS AND REPORTS:

The city shall keep such records and submit such reports as may be required by applicable state or federal laws or regulations. (1989 Code § 2-607)

1-9A-6: EXCLUSIONS:

Excluded from this article authorizing the extension of social security benefits to city officers and employees are the following:

   A.   Any authority to make any agreement with respect to any position, employee or official now covered or authorized to be covered by any other ordinance creating any retirement system for any employee or official of the city, including specifically the city's firefighters' pension and retirement system and fund established in article B of this chapter; or

   B.   Any authority to make any agreement with respect to any position, employee or official for which compensation is on a fee basis, or any position, employee or official not authorized to be covered by applicable state or federal laws or regulations. (1989 Code § 2-606; amd. 2002 Code)

ARTICLE B. FIREFIGHTERS' PENSION AND RETIREMENT FUND

SECTION:

1-9B-1: Firefighters' Pension And Retirement Board

1-9B-2: Operation Of Fund

1-9B-3: Contributions

1-9B-1: FIREFIGHTERS' PENSION AND RETIREMENT BOARD:

There is hereby created a local firefighters' pension and retirement board, composed of the mayor, the city clerk, the city treasurer and three (3) members from the fire department. The board shall have the membership, organization, powers, duties and functions as prescribed by 11 Oklahoma Statutes section 49-103 et seq. (1989 Code § 2-701)

1-9B-2: OPERATION OF FUND:

The firefighters' pension and retirement system and fund shall be operated in accordance with state law relating to the fund and system. (1989 Code § 2-702)

1-9B-3: CONTRIBUTIONS:

   A.   Deductions: The city clerk shall deduct from the salaries or wages of each paid member of the fire department the amounts which are required by applicable state law. If the members of the fire department, by a majority vote of its paid members, vote to increase the amount of the deductions, the amounts authorized by this subsection shall be increased to reflect the amounts approved by the majority vote. The city treasurer shall deposit monthly in the Oklahoma firefighters' pension and retirement fund the amounts deducted pursuant to this subsection. Any amounts deducted from the salary or wages of a fire department member shall be made at the time of each payroll. The deductions shall be set forth in the payroll so that each member may be able to ascertain the exact amount which he is contributing. (1989 Code § 2-703; amd. 2002 Code)

   B.   Deposits: The city treasurer shall deposit monthly with the Oklahoma firefighters' pension and retirement board the amounts of money which are required by applicable state law for each paid member of the fire department.

   C.   Volunteer Members: For each volunteer member of the fire department, the city treasurer shall deposit yearly with the Oklahoma firefighters' pension and retirement board the amounts of money which are required by applicable state law. These amounts may be revised according to actuarial studies and amounts as set by the Oklahoma firefighters' pension and retirement board.

   D.   Transfer Of Assets: All assets of the firefighters' pension and retirement fund shall be transferred to the Oklahoma firefighters' pension and retirement board. Assets shall be transferred in the form of cash, negotiable securities and such other specific assets as permitted by the state board. (1989 Code § 2-703)