- Oklahoma Public Employees Retirement System
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Oklahoma Public Employees Retirement System 
Great Seal of Oklahoma Agency overview Formed 1964 Headquarters 5801 N. Broadway Extension
Oklahoma CityAnnual budget $400 million in retirement payments each year Ministers responsible Scott Meacham, Secretary of Finance and Revenue
Scott MeachamAgency executive Tom Spencer, Executve Director Website [4] The Oklahoma Public Employees Retirement System (OPERS) is an agency of the government of Oklahoma that manages the public pension system for majority of Oklahoma state employees.[1][2] The System provides pension benefits such as normal retirement, disability retirement, surviving spouse benefits and a death benefit.
The System receives its funding from employer and member contributions, and returns on investments. OPERS is the largest state employment pension for Oklahoma State Employees covering 27,000 retired and 45,000 active state employees. There is approximately 5.1 billion dollars in pension assets.[3]
Contents
Investment Losses in 2008 and 2009
The stock market decline in 2008, during the financial crisis of 2007-2010, has created large losses in the OPERS investment portfolio. There was a 271 million dollar investment loss in 2008 and 962 million in 2009; for a combined loss of 1.2 billion dollars for this two year period.[4] This is a 20 percent decrease in the 5.1 billion investment portfolio.
These losses are not unique to OPERS. Similar losses occurred in CalPERS, the largest public empolyees retirement system in the United States.
Board of trustees
The Board of Trustees are Chairman Don Kilpatrick, Vice Chairman Steve Paris, and members Dawn Cash, Michael Clingman, Jeff Cloud, Michael D. Evans, Jonathan Barry Forman, Richard Haugland, Oscar B. Jackson, Jr., Jerry Johnson, Brian Maddy, DeWayne McAnally, Frank Stone.[5] The Oklahoma State Pension Commission is responsible for overseeing financial status and conditions of OPERS.
References
- ^ "Some state retirement funds hurt by bank fall". TMC. 4 October 2008. http://4g-wirelessevolution.tmcnet.com/news/2008/10/09/3695382.htm. Retrieved 28 March 2010.
- ^ Massey, Nick. "Government pension plans face large unfunded liabilities". CNHI News Service. http://cnhinews.com/node/2079. Retrieved 28 March 2010.[dead link]
- ^ [1]
- ^ [2]
- ^ [3]
External links
State finance agencies of OklahomaGovernor of Oklahoma
State Treasurer • State Auditor and Inspector • Insurance Commissioner
Secretary of Finance and Revenue
Board of Equalization • Capitol Improvement Authority • Commissioners of the Land Office • Department of Consumer Credit • Department of Insurance • Department of Securities • Office of State Finance • Pension Commission • Tax Commission • State Banking Department • State Bond Advisor
Public Pension Funds
Firefighters Pension and Retirement System • Law Enforcement Retirement System • Public Employees Retirement System • Police Pension and Retirement System • Teachers' Retirement System
Categories:- Retirement in the United States
- Government and pension funds
- State agencies of Oklahoma
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