§47-2-301.

§47-2-301.
   
   There is hereby established a System for the payment of retirement
   benefits and certain medical and hospital expenses of members of the
   Oklahoma Law Enforcement Retirement System. Such System shall
   constitute an amendment and continuation of the Retirement and Pension
   Plan of the Department of Public Safety and members in the Retirement
   and Pension Plan on June 30, 1980, shall continue as members of the
   Oklahoma Law Enforcement Retirement System. There is established in
   the State Treasury a special fund designated as the "Oklahoma Law
   Enforcement Retirement Fund" for the benefit of members of the System
   and certain dependents of deceased members of the System. Such fund
   shall be a continuation, under a new name, of the Retirement and
   Pension Fund of the Department of Public Safety.
   
   There is hereby created the Retirement Medical Benefit Fund. The fund
   shall be maintained as a subaccount of the Oklahoma Law Enforcement
   Retirement Fund. The Retirement Medical Benefit Fund is composed of
   all assets which may be contributed to this subaccount to pay the
   retirement system's portion of the monthly retiree health insurance
   premium benefit described by Section 1316.2 of Title 74 of the
   Oklahoma Statutes. All such allocated assets and any earnings thereon
   in the Retirement Medical Benefit Fund shall be held for the exclusive
   purpose of providing retiree medical benefits. The Retirement Medical
   Benefit Fund is to be administered in accordance with the requirements
   of Section 401(h) of the Internal Revenue Code of 1986, as amended
   from time to time. The Board of Trustees may promulgate such rules as
   are necessary to implement the funding and administration of the fund
   pursuant to the provisions of this subsection.
   
   Appointment to any position within a covered agency which comes under
   this System shall not jeopardize the rights of any person who has
   previously qualified for membership under this System, provided, that
   the individual contributions are continued, and such person remains a
   member of this System.