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Oklahoma Firefighters Pension and Retirement System

From Wikipedia, the free encyclopedia

Oklahoma Firefighters Pension and Retirement System
Seal of Oklahoma.svg
Great Seal of Oklahoma
Agency overview
Formed1980
Preceding agency
  • Fireman’s Pension Benefit Program
Headquarters4545 N Lincoln Boulevard
Oklahoma City, Oklahoma
Employees11 unclassified
Annual budget$260 million
Ministers responsible
Agency executive
  • Robert Jones, Executive Director
Parent agencyBoard of Trustees
WebsiteOklahoma Firefighters Pension and Retirement System

The Oklahoma Firefighters Pension and Retirement System (OFPRS) is an agency of the government of Oklahoma that manages the public pension system for firefighters in Oklahoma. 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, a portion of the state insurance premium tax and returns on investments. The System is overseen by a 13-member Board of Trustees, which is responsible for governing the System and appointing the Executive Director to run the System.

The System was created in 1980 during the term of Governor of Oklahoma George Nigh.

History

Governor of Oklahoma Charles N. Haskell signed into law the first fireman’s pension benefit law May 14, 1908. The new law contained a 1 percent tax on insurance premiums to fund the pension benefits for both paid and volunteer firefighters. Oklahoma cities and towns administered the program until the Oklahoma Legislature created the current System in 1980.

Leadership

The System is overseen by the Secretary of Finance and Revenue. Under Governor of Oklahoma Brad Henry, Scott Meacham is currently serving as Secretary.

Board of trustees

The System is governed by a thirteen-member Board of Trustees. The Board members are appointed as follows:

  • Oklahoma State Firefighters Association Executive Board (5 members)
  • President of the Professional Firefighters of Oklahoma or a designee (1 member)
  • President of the Oklahoma Retired Firefighters Association or a designee (1 member)
  • Speaker of the House of Representatives Appointee (1 member)
  • President Pro Tempore of the Senate Appointee (1 member)
  • Oklahoma Municipal League Appointees (2 members)
  • State Insurance Commissioner or a designee (1 member)
  • Director of the Office of State Finance or a designee (1 member)

References

External links



This page was last edited on 19 March 2020, at 01:00
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