Panel reports Oklahoma pension systems’ earnings decline
Ponca City Now - August 20, 2015 8:36 am
OKLAHOMA CITY (AP) – A panel overseeing the state’s seven pension systems reports each experienced a major drop in investment earnings over the last fiscal year compared to both the previous year and the average 10-year rate of return.
The Oklahoma Pension Commission reported Wednesday the $28.8 billion invested across its pension systems gained an average of 3.6 percent during the fiscal year that ended June 30. That compares to an average gain of 19.9 percent during the previous fiscal year.
The largest drop in earnings was the Oklahoma Teachers Retirement System, which fell from 22.4 percent in fiscal year 2014 to 3.5 percent in 2015.
The smallest decline was experienced by the Firefighters Pension System, which declined from 17.8 percent in 2014 to 5.9 percent in 2015.