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The Oklahoma Public Employees Retirement System (OPERS) is an agency of the government of Oklahoma that manages the public pension system for majority of Oklahoma state employees. 74 Okla.Statutes §§901 et seq. The System provides pension benefits such as normal retirement, disability retirement, surviving spouse benefits and a death benefit.
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 ...
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)
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.
And unlike many states, that extends to the state’s largest city as well: $1 million will last you 24 and a half years in retirement in Oklahoma City, making it one of the most affordable U.S ...
Oklahoma Average retirement age: 62 Annual cost of a comfortable retirement: $48,716 ... Methodology: GOBankingRates looked at the average retirement age in every state, as reported by Money Talk ...
Alabama. Total expenditures: $50,980 20% comfort buffer: $10,196 Cost of a comfortable retirement annually: $61,176 Read More: Retirement Savings — 4 Expenses Retirees Regret Keeping in Their ...
The retirement system received a boost in 2006 when the Oklahoma State Legislature increased the employer's contribution to OTRS from 7% to 9% over a three-year period. [12] From 2009 to 2011, the administration of OTRS, with guidance from its board of directors, has renegotiated investment contracts that will save the agency $2.3 million annually.