§ 65-560. Retirement system.

If, pursuant to the provisions of Chapter 37 of Title 11 of the Oklahoma Statutes, or of any statute supplemental thereto or of any charter provision of the city, a retirement system is established for the employees of the city, the employees of the city-county library system may be included in that retirement system on the same basis applicable to employees of the city, if the commission so recommends and the governing body of the city approves.  Nothing otherwise provided by law shall operate to prohibit the appropriation of county funds for the payment of the county's pro rata share of the contribution to be made to the retirement fund on behalf of the employees of the city-county library system.  In the event funds become available for library purposes pursuant to the provisions of Article X, Section 10A, of the Oklahoma Constitution, the entire contribution on behalf of the employees of the city-county library system may be paid from such funds.  The commission may act so as to cause its employees to be included in the state retirement system and from its funds make the contributions necessary therefor.  The commission may, in lieu of participation in the above-mentioned retirement systems, provide for the retirement of the employees of the city-county library system by the establishment of a self-insured trust, or by the purchase of annuity contracts or pension contracts from any insurance company authorized to do business in the State of Oklahoma.

Added by Laws 1965, c. 192, § 10, emerg. eff. June 8, 1965.  Amended by Laws 1968, c. 196, § 1, emerg. eff. April 15, 1968.