Get email alerts on the Pension Policy topic
No spam. Unsubscribe anytime.
Board approves in-kind and in‑service distribution changes to employee-only retirement plan
Summary
The board approved amendments to the employee-only retirement plan allowing in-kind distributions and permitting active participants age 70.5 to take in-service distributions, citing employee requests and audit clarity.
The Oklahoma County Retirement Board approved a change to the employee-only retirement plan to allow in-kind distributions and to permit active participants who reach age 70.5 to take an in-service distribution. Staff said the amendment responds to employee requests and clarifies that distributions would move directly from security to security rather than requiring sale of funds.
Explaining the change, a staff member said, "This allows participants that reach the age of 70.5 to take an in service distribution," and emphasized, "It's their money. It's not county money." The board moved, seconded and approved the amendment by voice vote during the meeting.
AI generated
The text on this page is AI generated. Summaries, highlights, analysis, and video transcripts are all produced from the original source material.
AI can make mistakes, so if you spot one, and we will fix it for everyone.
Note: the source content is unaltered by us. Any content source we link to, be it a video, an audio recording, or a document, is presented exactly as its publisher released it. That publisher is usually a government body, sometimes an individual official or another organisation.
