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Oklahoma State Pension Commission

From Wikipedia, the free encyclopedia

Oklahoma State Pension Commission
Seal of Oklahoma.svg
Great Seal of Oklahoma
Agency overview
FormedJuly 1, 1988
Headquarters2401 NW 23 Street
Oklahoma City
Employees1
Ministers responsible
Agency executive
  • Ruth Ann Chicoine, Administrator
WebsiteOklahoma State Pension Commission

The Oklahoma State Pension Commission is an Oklahoma state agency responsible for analyzing the performance of the State's public pension systems. The Commission also advises the Governor of Oklahoma and the Oklahoma Legislature on necessary action to improve the pension systems. The Commission is provided administrative support by the Office of the State Auditor and Inspector.

Members

The Commission is composed of seven members: the Oklahoma State Auditor and Inspector, the Oklahoma State Treasurer, the Director of the Oklahoma Office of Management and Enterprise Services, a sitting State Senator appointed by the President pro tempore of the Oklahoma Senate, a sitting State Representative appointed by the Speaker of the Oklahoma House of Representatives, and two members appointed by the Governor of Oklahoma.

Office Current Officer Leadership
State Auditor and Inspector Gary Jones
Director, Office of Management and Enterprise Services Preston Doerflinger
State Treasurer Ken A. Miller Chairman
House Speaker Appointee Vacant
Senate President Pro Tempore Appointee Senator Cliff Aldridge
Gubernatorial Appointee Louis F. Trost
Gubernatorial Appointee Doug Lawrence Vice-Chairman

Duties

The State Pension Commission provides guidance to the Governor of Oklahoma and the Oklahoma Legislature concerning the state's public retirement systems, including identifying problems and areas of abuse, projecting costs of existing systems and modifications to those systems, and recommending pension reform programs. Funding for the Commission is apportioned among the public pension systems in proportion to the percentage that each system's assets to the combined total of the assets of all systems.

The chief duty of the Commission is to publish on a quarterly basis a performance report analyzing the performance of each of the above state pension systems. The report includes rates of return on each systems' investments and details the solvency of each custodian bank or trust companies holding system funds. The Commission also analyses the investment plans developed by each system. Upon review, the Commission makes recommendations on administrative and legislative changes which are necessary to improve the performance of the retirement systems.

The Commission has no responsibility for or power over the actual day-to-day management or policy decisions of the various systems.

Entities Overseen

The Pension Commission is responsible for overseeing financial status and conditions of the following:

External links



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