| Oklahoma Public Employees Retirement System | |
|---|---|
| Great Seal of Oklahoma | |
| Agency overview | |
| Formed | 1964 |
| Headquarters | 5801 N. Broadway Extension Oklahoma City |
| Annual budget | $400 million in retirement payments each year |
| Ministers responsible | Scott Meacham, Secretary of Finance and Revenue Scott Meacham |
| Agency executive | Tom Spencer, Executve Director |
| Website | |
| [3] | |
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. 74 Okla.Statutes §§901 et seq. 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 second largest state-sponsored pension system in Oklahoma with the participation of most state officers and employees, as well as a large number of county officers and employees. OPERS covers nearly 30,000 retired and about 41,000 active state employees. The OPERS portfolio contains approximately 6.5 billion dollars in assets.[1]
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After the stock market declines in 2008 and 2009, the OPERS portfolio bounced back dramatically. The portfolio returned 13.81% in Fiscal Year 2010 and 21.3% in FY 2011. See,http://www.opers.ok.gov/publications for FY 2011 and http://www.opers.ok.gov/archived-publications for FY 2010.
The Board of Trustees are Chairman Don Kilpatrick, Vice Chairman Steve Paris, and members Jill Geiger, Dana Murphy, Michael D. Evans, Michael Moradi, Rusty Hale, Lucinda Meltabarger, Tom Kemp, Brian Maddy, DeWayne McAnally and Frank Stone.[2] The Oklahoma State Pension Commission is responsible for overseeing financial status and conditions of OPERS.
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