OK SB396

Amends the Teachers' Retirement System of Oklahoma (TRSO) Board of Trustees to require designees of ex officio members be full-time employees of their respective state agencies.

Adds professional qualifications for Governor-appointed TRSO Board members in paragraphs (d), (f), (g), and (h), requiring experience in investment management, banking, law, or accounting with consideration given to balancing appointments among these criteria.

Amends the Oklahoma Public Employees Retirement System (OPERS) Board of Trustees to require designees of ex officio members be full-time employees of their respective state agencies.

Adds the same professional qualification requirements for OPERS Board members appointed by the Governor and the Speaker of the House, requiring experience in investment management, banking, law, or accounting.

Changes terminology from "Chairman" to "Chair" in OPERS Board provisions; becomes effective July 1, 2015, with emergency declaration for immediate effect.