SB 1691 Summary

• Amends statutes governing the Teachers' Retirement System of Oklahoma (70 O.S. Section 17-106) and Oklahoma Public Employees Retirement System (74 O.S. Section 905) to add qualifications for designees appointed by ex officio board members.

• Requires designees of the State Superintendent, Director of Office of Management and Enterprise Services, State Insurance Commissioner, and Director of Career and Technology Education to be full-time employees of their respective agencies.

• Updates language throughout both retirement system statutes, including changing references from "this act" to specific statutory sections and modernizing terminology (e.g., "Chairman" to "Chair," "his or her" to "or she").

• Maintains existing professional qualification requirements for appointed board members in areas such as investment management, banking, law, or accounting.

• Effective July 1, 2014, with emergency clause enabling immediate enforcement upon passage and approval.