Harman Patil (Editor)

Oklahoma Police Pension and Retirement System

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Formed
  
1980

Annual budget
  
$175 million

Employees
  
12 unclassified

Oklahoma Police Pension and Retirement System

Preceding agency
  
Policemen's Pension Benefit Program

Headquarters
  
1001 NW 63 Street Oklahoma City, Oklahoma

Ministers responsible
  
Scott Meacham, Secretary of Finance and Revenue Craig Akard, Chair of the Board

The Oklahoma Police Pension and Retirement System (OPPRS) is an agency of the government of Oklahoma that manages the public pension system for municipal police officers in Oklahoma. The System provides pension benefits such as normal retirement, disability retirement, surviving spouse benefits and a death benefit.

Contents

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.

Leadership

The System is oversee by the Oklahoma 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:

  • 6 members elected by the active members of the System (elected by District) who are active members of the System
  • 1 member elected by the inactive members of the System (elected Statewide) who is an inactive member of the System
  • 1 member appointed by the Speaker of the Oklahoma House of Representatives
  • 1 member appointed by the President pro tempore of the Oklahoma Senate
  • 1 member appointed by the Governor of Oklahoma
  • 1 member appointed by the Oklahoma Municipal League
  • 1 member is the Oklahoma Insurance Commissioner (or designee)
  • 1 member is the Director of State Finance (or designee)

    • References

    Oklahoma Police Pension and Retirement System Wikipedia
    (Text) CC BY-SA