OkMRF Resources

Plan Design and Alternatives

OkMRF offers several plan designs and program alternatives so member municipalities can select the program that best meets their employment needs. To learn more, click on the program options below.

VIEW OUR BROCHURE

For a holistic view of all OkMRF plans and their unique features and benefits.

 

OkMRF Plans and Programs

Defined Benefit Program (DB)
A plan which provides a monthly income for the retiree’s lifetime.
Brochure   |   View Forms

Defined Contribution Program (DC)
A plan which helps participants accumulate a portable account balance in their name.
Brochure   |   View Forms

Customized Manager Option Program (CMO)
OkMRF Customized Manager Option Plan was expressly designed for city managers and administrators, providing a defined contribution program structure with immediate vesting and portability between member cities.
Brochure   |   View Forms

Retiree Medical Program (RM)
OkMRF created a plan design that provides an ancillary benefit to assist retirees with the ever-growing insurance premium expenses.
Brochure   |   View Forms

How to Join OkMRF

We are pleased to know of your interest in joining OkMRF!  Members must be a municipality, public trust having municipal beneficiaries, an interlocal cooperative between a municipality and their public trust or any legal entity comprising legal authority as defined in Chapter 48 of Title 11 Oklahoma Statutes. We will help you design the retirement program that is just right for your Municipal Agency and employees.

OkMRF Staff prepares all plan documents including resolutions, ordinances and joining documents for your governing body’s approval.

We make it as easy as 1  2  3 ! Here’s how:

Steps to design a DB/RM Program

Together we will:

  1. Prepare your employee census data such as: name, gender, date of birth, full time hire date and W‑2 gross annual wages and submit to the OkMRF offices
  2. Help you design the new program
  3. OkMRF’s actuary issues an actuarial report to determine costs for you to provide the benefits

Your governing body needs to:

  1. Approve a resolution to adopt OkMRF Trust Indenture
  2. Approve an ordinance to adopt the Joinder Agreement and Master Defined Benefit Plan
  3. Appoint an Authorized Agent (OkMRF’s primary contact)

Steps to design a DC/CMO Program

Together we will:

  1. Help you design the new program

Your governing body needs to:

  1. Approve a resolution to adopt OkMRF Trust Indenture
  2. Approve an ordinance to adopt the Joinder Agreement and Master Defined Contribution Plan
  3. Appoint an Authorized Agent (OkMRF’s primary contact)

Resource Material Library

OkMRF planning tools and resources are designed to help enroll, educate and support both Member and Participant needs.

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