Oklahoma Firefighters Pension and Retirement System
Encyclopedia
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
.
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.
. Under Governor of Oklahoma
Brad Henry
, Scott Meacham
is currently serving as Secretary.
Government agency
A government or state agency is a permanent or semi-permanent organization in the machinery of government that is responsible for the oversight and administration of specific functions, such as an intelligence agency. There is a notable variety of agency types...
of the government of Oklahoma
Government of Oklahoma
The government of the US State of Oklahoma, established by the Oklahoma Constitution, is a republican democracy modeled after the Federal government of the United States. The state government has three branches: the executive, legislative, and judicial...
that manages the public pension system for firefighters in Oklahoma
Oklahoma
Oklahoma is a state located in the South Central region of the United States of America. With an estimated 3,751,351 residents as of the 2010 census and a land area of 68,667 square miles , Oklahoma is the 28th most populous and 20th-largest state...
. 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
Governor of Oklahoma
The governor of the state of Oklahoma is the head of state for the state of Oklahoma, United States. Under the Oklahoma Constitution, the governor is also the head of government, serving as the chief executive of the Oklahoma executive branch, of the government of Oklahoma...
George Nigh
George Nigh
George Patterson Nigh , is a popular civic leader in the U.S. state of Oklahoma. Nigh served as the 17th and the 22nd Governor of Oklahoma. He was the first Oklahoma Governor to be re-elected and the first to win all 77 counties in the state...
.
History
Governor of OklahomaGovernor of Oklahoma
The governor of the state of Oklahoma is the head of state for the state of Oklahoma, United States. Under the Oklahoma Constitution, the governor is also the head of government, serving as the chief executive of the Oklahoma executive branch, of the government of Oklahoma...
Charles N. Haskell
Charles N. Haskell
Charles Nathaniel Haskell was an American lawyer, oilman, and statesman who served as the first Governor of Oklahoma. Haskell played a crucial role in drafting the Oklahoma Constitution as well as Oklahoma's statehood and admission into the United States as the 46th state in 1907...
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
Oklahoma Legislature
The Legislature of the State of Oklahoma is the biennial meeting of the legislative branch of the government of Oklahoma. It is bicameral, comprising the Oklahoma House of Representatives and the Oklahoma Senate, with all members elected directly by the people. The House of Representatives has 101...
created the current System in 1980.
Leadership
The System is oversee by the Secretary of Finance and RevenueOklahoma State Cabinet
The Cabinet of the Governor of Oklahoma is a body of the most senior appointed officials of the executive branch of the government of Oklahoma. Originally an informal meeting between the Governor of Oklahoma and various government officials, the Governor's Cabinet has evolved into a major part of...
. Under Governor of Oklahoma
Governor of Oklahoma
The governor of the state of Oklahoma is the head of state for the state of Oklahoma, United States. Under the Oklahoma Constitution, the governor is also the head of government, serving as the chief executive of the Oklahoma executive branch, of the government of Oklahoma...
Brad Henry
Brad Henry
Charles Bradford "Brad" Henry was the 26th Governor of the U.S. state of Oklahoma. A member of the Democratic Party, he was elected governor in 2002...
, Scott Meacham
Scott Meacham
Scott Meacham was the 17th State Treasurer of Oklahoma, having served from June, 2005 to January, 2011, having been appointed to that post by then-Governor Brad Henry following the resignation of then-State Treasurer Robert Butkin...
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)