Oklahoma Police Pension and Retirement System
Encyclopedia
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.
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
.
. 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 municipal police officers 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...
.
Leadership
The System is oversee by the Oklahoma Secretary of Finance and RevenueOklahoma Secretary of Finance and Revenue
The Oklahoma Secretary of Finance and Revenue is a member of the Oklahoma Governor's Cabinet. The Secretary is appointed by the Governor, with the consent of the Oklahoma Senate, to serve at the pleasure of the Governor...
. 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:- 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 RepresentativesSpeaker of the Oklahoma House of RepresentativesThe Speaker of the Oklahoma House of Representatives is the presiding officer of the lower house of the Oklahoma Legislature, the Oklahoma House of Representatives. The Speaker exercises administrative and procedural functions in the House, but most importantly remains a representative of his...
- 1 member appointed by the President pro tempore of the Oklahoma SenatePresident pro tempore of the Oklahoma SenateThe President pro tempore of the Oklahoma Senate is the second-highest-ranking official of the Oklahoma Senate and the highest-ranking State Senator. The Oklahoma Constitution states the Lieutenant Governor of Oklahoma serves ex officio as President of the Senate, and is the highest-ranking...
- 1 member appointed by the Governor of OklahomaGovernor of OklahomaThe 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...
- 1 member appointed by the Oklahoma Municipal LeagueOklahoma Municipal LeagueThe Oklahoma Municipal League is an association of the incorporated cities and towns of Oklahoma, organized for mutual assistance and improvement.OML's functions include:...
- 1 member is the Oklahoma Insurance CommissionerOklahoma Insurance CommissionerThe Oklahoma Insurance Commissioner is an elected executive officer of the state of Oklahoma. The Insurance Commissioner serves as the head of the Oklahoma Department of Insurance. The Insurance Department is charged with executing of all laws relating to insurance and insurance companies doing...
(or designee) - 1 member is the Director of State FinanceOklahoma Office of State FinanceThe Oklahoma Office of State Finance is the Oklahoma state government agency that prepares the Governor of Oklahoma’s annual budget, analyzes the effectiveness of state management, manages the state’s budget system and makes appropriate allotments and transfers throughout the state government...
(or designee)