§ 40-132 — Employee participation
Oklahoma City Municipal Code (Supp. No. 5, Update 1: codified through Ordinance No. 28070, adopted April 21, 2026) · Oklahoma City Municipal Code § 40-132
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§ 40-132. - Employee participation.
To the extent allowed by the Internal Revenue Code, but without an employer contribution by the City or the Central Oklahoma Transportation & Parking Authority (COTPA), all full-time employees of the City, and effective January 1, 2025, all full-time employees of COTPA, may voluntarily participate in the § 457 deferred compensation plan(s) sponsored by the City including, Elected Officials of the City as defined in Section 40-51(12), "regular policing personnel" as defined in Section 40-26, and full-time, uniformed fire department employees. However, only those employees eligible under Section 40-61 may participate in the § 401(a) Money Purchase Plan(s) sponsored by the City except that effective January 1, 2025, full-time employees of COTPA who are: (i) age 18 and older and (ii) not represented by a union, are also eligible to participate in the Money Purchase Plan and Trust - Open Plan solely for purposes of matching elective deferrals (up to $1,000 per plan year) made to the City's 457(b) deferred compensation plan.
(Ord. No. 21916, § 2, 2-12-02; Ord. No. 22196, § 1, 4-22-03; Ord. No. 27206, § 2, 10-25-22; Ord. No. 27732, § 3, 11-19-24)