OK HB1007

Enacts the "Pension Funding Accountability Act of 2011" in Oklahoma

Designates the State Department of Education as administrator of the Teachers' Retirement System Dedicated Revenue Revolving Fund

Requires the State Department of Education to transfer monies from the Teachers' Retirement System Dedicated Revenue Revolving Fund to the Teachers' Retirement System of Oklahoma each month

Restricts fund usage exclusively to paying down the unfunded liability of the Teachers' Retirement System, with any other appropriation or expenditure declared null and void

Requires the Office of State Finance to provide an annual accounting of fund revenues to the Governor, President Pro Tempore of the Senate, and Speaker of the House within 30 days after each fiscal year ends