Board of Regents of Oklahoma Colleges to Board of Regents of the University of Oklahoma, Cameron University and Rogers State University - Assumption of obligations for tenure or retirement of employees. A. The governance, supervision, management and control of Rogers State University is hereby transferred from the Board of Regents of Oklahoma Colleges to the Board of Regents of the University of Oklahoma, Cameron University and Rogers State University. All property, assets, and obligations of Rogers State University and any and all obligations of the Board of Regents of Oklahoma Colleges for and on behalf of Rogers State University are hereby transferred to the Board of Regents of the University of Oklahoma, Cameron University and Rogers State University. B. Obligations for tenure or retirement of employees of Rogers State University, either through Rogers State University or the Board of Regents of Oklahoma Colleges, shall be assumed by the Board of Regents of the University of Oklahoma, Cameron University, and Rogers State University. For the employees of Rogers State University who were employed by Rogers State University on or after January 1, 1999, and who were participants in the Supplemental Retirement Plan for the Board of Regents of Oklahoma Colleges at the time of their employment by Rogers State University, the Board of Regents of the University of Oklahoma, Cameron University, and Rogers State University shall assume or provide a reasonable substitute for the Supplemental Retirement Plan for the Board of Regents of Oklahoma Colleges in accordance with applicable rules and regulations of the Internal Revenue Service or other governmental agencies. These employees shall receive credit for compensation, vesting, and service years in the calculation of benefits under the plan assumed or provided as required in this section to the same extent as though they had not left the employ of the regional university that was participating in the Supplemental Retirement Plan for the Board of Regents of Oklahoma Colleges.
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