February 2015 Update

System Update News:

The OPPRS board met on 02-18-15. All of the updated reports are on the pension web site, including the monthly and quarterly financial reports. Please take time to review them if you are interested in how the system investments are structured and currently performing.

The system’s fund balance as of 01-31-15 was $2.196 Billion. The balance has remained relatively stable even with the current market fluctuations. The boards overall investment strategy is for stable growth with lower involved risk.

In reports distributed by ACG (the system investment managers) Our fund investment risk is lower than 94% of all other public pension funds in the US. January resulted in a slight decrease, -0.35% due to a market downturn sparked by instability in the European markets. However, net of fees,  the 1 year was 6.02%, 3 year was 9.50%, and the 5 year was 8.77%. The long term pension growth target is 7.5% which our actuarial reports have shown we are consistently exceeding over the long haul.

Legislative Update News:

The two duplicate bills from both the house and senate dealing with County Sheriff Deputiesbeing allowed to enter OPPRS are dead this session.

Additionally, there are also two proposed bills for retiree cost of living increases, one for a 2% increase and the other for a one-time $500 stipend, but it would only apply to those over 70 years of age. Given the recent announcement of a budget shortfall, more than twice what was originally anticipated, these bills are expected to have a difficult time in getting out of committee. However, the State FOP and Lodge 123 continue to work diligently on this issue to provide some retiree financial relief.

Please contact me if your have any questions. 

Jeff Pierce
State Trustee, 
District 6
Oklahoma Police Pension & Retirement System