Okla. Admin. Code § 590:20-1-5 - Self-directed brokerage investments

The Board may offer to participants in the Deferred Compensation Plan, the Savings Incentive Plan, and the Defined Contribution System a self-directed brokerage investment option for the selection of additional mutual funds. The Board may establish the program structure,limits and maximums on investments in this option, as may be set forth in the investment policy or by the recordkeeper. The Board has no responsibility to review the mutual funds available in this option or to determine the appropriate investment choices for participants selecting this option. The Board further has no responsibility to determine if the selection of the self-directed brokerage option is appropriate for any particular participant. The self-directed brokerage option is designed for knowledgeable investors and any participant selecting this option will be required to sign an election form containing at least the following:

(1) That the participant understands and accepts any and all risks associated with this selection;
(2) That the participant understands and accepts that none of the mutual funds available in the self-directed brokerage option have been reviewed for suitability or endorsed by the Board;
(3) That the participant is solely responsible for determining the suitability or appropriateness of any selected mutual fund; and
(4) That the participant agrees to hold the Plan and the Board harmless against any claims, damages or other causes of actions which may arise as a result of any negative consequences resulting from use of the self-directed brokerage option.

Notes

Okla. Admin. Code § 590:20-1-5
Added at 18 Ok Reg 551, eff 12-28-00 through 7-14-01 (emergency); Added at 18 Ok Reg 3265, eff 7-26-01
Amended by Oklahoma Register, Volume 32, Issue 24, September 1, 2015, eff. 9/11/2015

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