http://www.rssboard.org/rss-specificationHome Blogwww.opers.ok.govStephanie Whitehttp://www.opers.ok.govMon, 20 May 2013 14:53:20 GMTHome BlogTue, 14 May 2013 15:28:11 GMTAmendments to Permanent Rules Effective May 11, 2013http://www.opers.ok.gov/amendments-to-permanent-rules-effective-may-11-2013Tue, 14 May 2013 05:00:00 GMTStephanie WhiteStephanie WhiteAmendments to the administrative rules of OPERS have been published in the Oklahoma Register, Volume 30, Number 16, Pages 550 – 555, and are now considered promulgated and effective May 11, 2013.  To review the amendments, click here.  To review all of OPERS Administrative Rules, click here.

]]>http://www.opers.ok.gov/amendments-to-permanent-rules-effective-may-11-2013Woodward Pre-Retirement Seminar Rescheduledhttp://www.opers.ok.gov/woodward-pre-retirement-seminar-rescheduledThu, 28 Feb 2013 06:00:00 GMTStephanie WhiteStephanie WhiteIt was necessary for OPERS to reschedule the Pre-Retirement seminar in Woodward on February 28th due to hazardous weather and road conditions in the Northwestern part of Oklahoma. The seminar has been rescheduled for April 12th. Members who were scheduled for the Woodward seminar will be contacted in the next few days about the new date.

Fortunately, the new date has allowed OPERS to reserve a larger room. If you are interested in attending the seminar in Woodward on April 12th, please contact OPERS at (800) 733-9008 to register.

Click here for more information about our seminar opportunities.

]]>http://www.opers.ok.gov/woodward-pre-retirement-seminar-rescheduledQ & A document for OPERS International Growth Equity Investment Management Serviceshttp://www.opers.ok.gov/q-a-document-for-opers-international-growth-equity-investment-management-servicesFri, 15 Feb 2013 06:00:00 GMTPatrick LanePatrick LaneThe OPERS International Growth Equity Investment Management Services Q & A Document is now available. Click here to download this document.

]]>http://www.opers.ok.gov/q-a-document-for-opers-international-growth-equity-investment-management-servicesMESSAGE ABOUT INCOME TAX WITHHOLDING FOR RETIREES IN JANUARYhttp://www.opers.ok.gov/message-about-income-tax-withholding-for-retirees-in-januaryFri, 01 Feb 2013 06:00:00 GMTStephanie WhiteStephanie WhiteMany OPERS retirees have contacted OPERS regarding an increase in their income tax withholding on their January benefit payments. The increase in income tax withholding is the result of confusion over income tax withholding tables published by the IRS.  The IRS published the 2013 income tax withholding tables at the end of December 2012. Because Congress had not yet voted on a “fiscal cliff” plan, the 2013 tables were issued under the assumption that no federal tax legislation passed. These tables, which we were furnished less than a month ago, assumed the Bush-era income tax reductions would expire and income tax rates would increase January 1, 2013. As we know now a compromise was reached by Congress and President Obama leading to legislation signed on January 3, 2013. This legislation kept 2012 income tax rates the same with some limited exceptions for higher income taxpayers.

The IRS published notice 1036 soon after the federal legislation was signed. This notice provided information about the correct withholding rates for use in 2013. The message from the IRS instructed employers to begin using the corrected withholding tables as soon as possible, but no later than February 15, 2013. If OPERS had the information about the new tables earlier in January, OPERS could have used the corrected withholding amounts for the January 2013 benefit payments. Unfortunately, the tables published by the IRS at the end of December were used. 

OPERS management and staff apologize to all of our retirees and beneficiaries for this confusion. To ensure that all of our retirees and beneficiaries withhold the correct amount in 2013 as reflected in the most recently-issued IRS tables, OPERS will adjust the February federal tax withholding so that the total taxes withheld for both months, is based on the revised 2013 tax tables. As a result, your February withholding will reflect a smaller amount to offset the incorrect larger amount withheld in January.  In March the withholding will be the correct amount which presumably will be the same for the remainder of 2013.

NOTE: Retirees who have designated a fixed amount of withholding rather than using the tax tables, will not see a change. Only those using the tables will be affected.

]]>http://www.opers.ok.gov/message-about-income-tax-withholding-for-retirees-in-januaryBoard Adopts Permanent Ruleshttp://www.opers.ok.gov/2012-notice-of-proposed-permanent-rulemakingThu, 31 Jan 2013 06:00:00 GMTStephanie WhiteStephanie WhiteFor more information, click on the links below.

Chapter 10                       Rule Impact Statement 
Chapter 15  Rule Impact Statement 
Chapter 25 Rule Impact Statement 
Chapter 35  Rule Impact Statement 
]]>http://www.opers.ok.gov/2012-notice-of-proposed-permanent-rulemakingRFP for International Growth Equity Investment Management Serviceshttp://www.opers.ok.gov/rfp-for-international-growth-equity-investment-management-servicesFri, 18 Jan 2013 06:00:00 GMTPatrick LanePatrick LaneOPERS has issued an RFP for international growth equity investment management services. Proposals are due February 22, 2013. To download the RFP, click here for PDF or click here for Word.

Investment Policy

]]>http://www.opers.ok.gov/rfp-for-international-growth-equity-investment-management-servicesAscent - 2012 Comprehensive Annual Financial Reports Publishedhttp://www.opers.ok.gov/ascent-2012-comprehensive-annual-financial-reports-publishedMon, 03 Dec 2012 06:00:00 GMTStephanie WhiteStephanie WhiteWe are pleased to announce the most recent Comprehensive Annual Financial Reports (CAFRs) for the Oklahoma Public Employees Retirement System and Uniform Retirement System for Justices and Judges, entitled Ascent, have been published and are available on the publications page.

This edition of the Comprehensive Annual Financial Reports for OPERS and the URSJJ reflects upon the ascent our members make in pursuing their dreams of a secure, rewarding retirement.

Preparing for a secure retirement involves successfully navigating a series of important financial decisions throughout life. Much like a climber securing a foothold, we are faced with difficult financial decisions in an ever-changing environment. How we approach and negotiate those challenges will ultimately determine our retirement readiness.

Once again this year, OPERS members will receive a copy of the Popular Financial Annual Report (PAFR) as a part of the Retiring Right newsletter mailed in January. The PAFR is a four-page summary of the CAFR and includes basic information regarding the plan’s current status.

 

2012 OPERS CAFR                        2012 URSJJ Cover

]]>http://www.opers.ok.gov/ascent-2012-comprehensive-annual-financial-reports-publishedPublic Pension Coordinatinating Council recognizes OPERShttp://www.opers.ok.gov/2012-public-pension-coordinatinating-council-recognizes-opersFri, 30 Nov 2012 06:00:00 GMTStephanie WhiteStephanie WhiteThe Oklahoma Public Employees Retirement System (OPERS) was awarded the Public Pension Standards Award by the Public Pension Coordinating Council, a confederation of the National Association of State Retirement Administrators, the National Conference on Public Employee Retirement Systems, and the National Council on Teacher Retirement.

Established in 2002, the Public Pension Standards are a benchmark to measure public defined benefit plans, like OPERS, in the areas of management, administration, and funding. Pension systems are evaluated on whether they meet the requirements in the areas of comprehensiveness, audits, investments, communications, actuarial valuations, and contribution rates.

This is the second consecutive year OPERS has received the public pension standards award.

]]>http://www.opers.ok.gov/2012-public-pension-coordinatinating-council-recognizes-opersOPERS Awarded for Excellence in Financial Reportinghttp://www.opers.ok.gov/2012-opers-awarded-for-excellence-in-financial-reportingThu, 15 Nov 2012 06:00:00 GMTStephanie WhiteStephanie WhiteThe Government Finance Officers Association of the United States and Canada (GFOA) awarded a Certificate of Achievement for Excellence in Financial Reporting to the Oklahoma Public Employees Retirement System for its comprehensive annual financial report for the fiscal year ended June 30, 2011. This was the fifteenth consecutive year that OPERS has received this prestigious award. To receive a Certificate of Achievement, a government must publish an easily readable and efficiently organized comprehensive annual financial report.

In addition to the Certificate of Achievement, GFOA has also given the Award for Outstanding Achievement in Popular Annual Financial Reporting to OPERS for the Popular Annual Financial Report for the fiscal year ended June 30, 2011. A government unit must publish a popular annual financial report whose contents conform to program standards of creativity, presentation, understandability and reader appeal. This was the fifth consecutive year OPERS received this award.

The Certificate of Achievement and Award for Outstanding Achievement in Popular Annual Financial Reporting are valid for a period of one year only. We believe our current reports continue to meet award requirements and are submitting them to GFOA to determine their eligibility.

]]>http://www.opers.ok.gov/2012-opers-awarded-for-excellence-in-financial-reportingOPERS on the Roadhttp://www.opers.ok.gov/opers-on-the-roadThu, 04 Oct 2012 05:00:00 GMTPatrick LanePatrick LaneThe 2012 Retirement Coordinator Training "Road Show" came to a close in Lawton. Six cities and nearly 1,000 miles logged, we made our way across the state communicating recent legislative updates and plan changes to our nearly 300 participating employers.

"We enjoy this time each year, having the opportunity to meet with employers face-to-face," said Patrick Lane, Communications Director. "The feedback we receive is invaluable in helping us better serve our members and improve our internal processes."

The Coordinator Training took place across Oklahoma over the last three weeks with visits to Oklahoma City, Woodward, Ponca City, Tulsa, McAlester, and Lawton in a travel-intensive effort to reach the greatest number of employers possible.

The Coordinator Manual, which has been updated for 2012-13, and the training presentation are available online. Click here for more information.

]]>http://www.opers.ok.gov/opers-on-the-roadOPERS Recognized for Quality in Member Educationhttp://www.opers.ok.gov/opers-recognized-for-quality-in-member-educationMon, 03 Sep 2012 05:00:00 GMTJohn HugginsJohn HugginsWe are pleased to announce OPERS was recently awarded a Governor’s Commendation at the 2012 Quality Oklahoma Team Day in recognition of our two new member education seminars – Controlling Your Financial Future and Managing Your Retirement Income.

“For the past few years OPERS has been working to expand our member education to engage and benefit our members throughout their careers in public service,” said executive director Tom Spencer. “We are honored to receive this recognition for providing quality financial planning resources to our members.”

Over the past year, OPERS has provided more than 100 of the new seminars to nearly 2,000 members and the reviews have been overwhelmingly positive, with 95% of attendees indicating they would recommend the seminars to others.

As your retirement agency, it is our goal to offer timely and informative member education to help you become more informed, prepared and confident in your financial planning.

Please visit our website www.opers.ok.gov/confidence for more information regarding our various seminars.

]]>http://www.opers.ok.gov/opers-recognized-for-quality-in-member-educationPermanent Rules Publishedhttp://www.opers.ok.gov/permanent-rules-publishedFri, 04 May 2012 05:00:00 GMTStephanie WhiteStephanie WhiteNotice is being provided that permanent administrative rules have been adopted and published pursuant to the Oklahoma Administrative Procedures Act. The new rules are effective May 11, 2012. The official permanent final adoption can be found in the Oklahoma Register, Volume 29, Pages 497 – 510. Click here to view the newly published amendments.

]]>http://www.opers.ok.gov/permanent-rules-publishedCORRECTED: Q & A document for OPERS HP3000 Hardware & Software Maintenance Serviceshttp://www.opers.ok.gov/q-a-document-for-opers-hp3000-hardware-software-maintenance-servicesThu, 29 Mar 2012 05:00:00 GMTStephanie WhiteStephanie WhiteThe OPERS HP3000 Hardware & Software Maintenance Services Q & A Document is now available.  Click here to download this document.

]]>http://www.opers.ok.gov/q-a-document-for-opers-hp3000-hardware-software-maintenance-servicesCORRECTED: Q & A document for OPERS External Auditing Serviceshttp://www.opers.ok.gov/q-a-document-for-opers-external-auditing-servicesThu, 23 Feb 2012 06:00:00 GMTStephanie WhiteStephanie WhiteThe corrected OPERS External Auditing Services Q & A Document is now available. Click here to download this document.

]]>http://www.opers.ok.gov/q-a-document-for-opers-external-auditing-servicesOPERS Issues Notice of Rulemaking Intent and Proposed Permanent Ruleshttp://www.opers.ok.gov/opers-issues-notice-of-rulemaking-intent-and-proposed-permanent-rulesFri, 23 Dec 2011 06:00:00 GMTStephanie WhiteStephanie WhiteNotice is being provided to all interested parties pursuant to the Oklahoma Administrative Procedures Act that proposed rules are available for public review and comment. Click on the links below for specific information regarding each amendment by Chapter.

Chapter 1  Notice of Rulemaking Intent  Rule Impact Statement 
Chapter 10  Notice of Rulemaking Intent  Rule Impact Statement 
Chapter 15  Notice of Rulemaking Intent  Rule Impact Statement
Chapter 25  Notice of Rulemaking Intent  Rule Impact Statement 
Chapter 35                  Notice of Rulemaking Intent              Rule Impact Statement

]]>http://www.opers.ok.gov/opers-issues-notice-of-rulemaking-intent-and-proposed-permanent-rulesQ & A document for OPERS Investment Consulting Serviceshttp://www.opers.ok.gov/q-a-document-for-opers-investment-consulting-servicesTue, 06 Dec 2011 06:00:00 GMTJohn HugginsJohn HugginsThe OPERS Investment Consulting Services Q & A Document is now available. Click here to download this document.

]]>http://www.opers.ok.gov/q-a-document-for-opers-investment-consulting-servicesConnections: 2011 Comprehensive Annual Financial Reports Publishedhttp://www.opers.ok.gov/connections-opers-releases-fy-2011-cafrFri, 02 Dec 2011 06:00:00 GMTStephanie WhiteStephanie WhiteWe are pleased to announce the most recent Comprehensive Annual Financial Reports (CAFRs) for the Oklahoma Public Employees Retirement System and Uniform Retirement System for Justices and Judges, entitled Connections, have been published and are available on our publications page.

As a retirement system, we enjoy a long relationship with our members beginning when a person chooses a career in public service and culminating in a secure retirement honoring that service. This edition of the Comprehensive Annual Financial Report highlights the connections between OPERS and our members throughout their working lives.

Members will be receiving a copy of the Popular Financial Annual Report (PAFR) as a part of the Retiring Right newsletter mailed in January. The PAFR is a four page summary of the CAFR and includes basic information about the plan’s current status.

 

2011 OPERS CAFR                   2011 URSJJ CAFR

]]>http://www.opers.ok.gov/connections-opers-releases-fy-2011-cafrRFP for Investment Consulting Serviceshttp://www.opers.ok.gov/rfp-for-investment-consulting-servicesFri, 18 Nov 2011 06:00:00 GMTJohn HugginsJohn HugginsOPERS has issued an RFP for Investment Consulting services. Proposals are due December 16, 2011. To download the RFP, click here for PDF or click here for Word.

]]>http://www.opers.ok.gov/rfp-for-investment-consulting-servicesQ & A document for SoonerSave Stable Value Fund Investment Serviceshttp://www.opers.ok.gov/q-a-document-for-soonersave-stable-value-fund-investment-servicesWed, 05 Oct 2011 05:00:00 GMTJohn HugginsJohn HugginsThe SoonerSave Stable Value Fund Investment Services Q & A Document is now available. Click here to download this document.

]]>http://www.opers.ok.gov/q-a-document-for-soonersave-stable-value-fund-investment-servicesQ & A document for SoonerSave Recordkeeper Serviceshttp://www.opers.ok.gov/q-a-document-for-soonersave-recordkeeper-servicesTue, 04 Oct 2011 05:00:00 GMTJohn HugginsJohn HugginsThe SoonerSave Recordkeeper Services Q & A Document is now available. Click here to download this document. OPERS staff is currently working on the Question & Answer document for the SoonerSave Stable Value Manager RFP,we anticipate the Q & A document to be posted on the website during the week of October 3rd - October 7th.

]]>http://www.opers.ok.gov/q-a-document-for-soonersave-recordkeeper-servicesEmergency Rules Approved by Governorhttp://www.opers.ok.gov/emergency-rules-approved-by-governorMon, 03 Oct 2011 05:00:00 GMTStephanie WhiteStephanie WhiteEmergency rules have been signed by the Governor and are effective September 28, 2011. Click on the links below for more information.

Administrative Rules
Approved Emergency Rules

]]>http://www.opers.ok.gov/emergency-rules-approved-by-governorQ & A Document for Recordkeeper and Stable Value Fund Managerhttp://www.opers.ok.gov/q-a-document-for-recordkeeper-and-stable-value-fund-managerFri, 30 Sep 2011 05:00:00 GMTStephanie WhiteStephanie WhiteOPERS staff is currently working on the Question & Answer document for the SoonerSave Recordkeeper RFPand SoonerSave Stable Value Fund Manager RFP. We anticipate the Q&A document to be posted on the website during the week of October 3rd - October 7th.

]]>http://www.opers.ok.gov/q-a-document-for-recordkeeper-and-stable-value-fund-managerRFP for Recordkeeping Serviceshttp://www.opers.ok.gov/rfp-for-recordkeeping-servicesFri, 19 Aug 2011 05:00:00 GMTStephanie WhiteStephanie WhiteOPERS has issued an RFP for Recordkeeping services for the defined contribution plans. Proposals are due October 18, 2011. To download the RFP, click here for PDF or click here for Word.

]]>http://www.opers.ok.gov/rfp-for-recordkeeping-servicesRFP for Stable Value Fund Managerhttp://www.opers.ok.gov/rfp-for-stable-value-fund-managerFri, 19 Aug 2011 05:00:00 GMTStephanie WhiteStephanie WhiteOPERS has issued an RFP for a Stable Value Fund Manager for the defined contribution plans. Proposals are due October 18, 2011. To download the RFP, click here for PDF or click here for Word.

]]>http://www.opers.ok.gov/rfp-for-stable-value-fund-manager2011 Legislation Updatehttp://www.opers.ok.gov/legislationMon, 16 May 2011 05:00:00 GMTStephanie WhiteStephanie WhiteWith the topic of “pension reform” appearing in the state and local media frequently, the OPERS staff has prepared this summary of pending pension legislation for its members.

]]>http://www.opers.ok.gov/legislationProposed Permanent Rules Become Effectivehttp://www.opers.ok.gov/proposed-permanent-rulesThu, 12 May 2011 05:00:00 GMTStephanie WhiteStephanie WhiteThe following links contain changes to the permanent rules for OPERS, URSJJ and SoonerSave as well as rule impact statements for each chapter, which became effective on May 12, 2011. For detailed information, click on the links below. You may view the current administrative rules by clicking here.

Chapter 10         Rule Impact Statement - Chapter 10
Chapter 15 Rule Impact Statement - Chapter 15
Chapter 25  Rule Impact Statement - Chapter 25
Chapter 35  Rule Impact Statement - Chapter 35

 

]]>http://www.opers.ok.gov/proposed-permanent-rulesForm 1099Rs and January Benefit Notices hitting your mailboxhttp://www.opers.ok.gov/form-1099rs-and-january-benefit-notices-hitting-your-mailboxMon, 31 Jan 2011 06:00:00 GMTStephanie WhiteStephanie White

Each January, OPERS sends a Benefit Notice to those members who receive monthly benefits in January. We also mail a 1099-R to all members who received benefits in the previous calendar year, or any active members who took a distribution of their employee contributions after they left employment with a participating employer.

IRS Form 1099-R

All 1099-Rs for the 2010 tax year have been mailed in advance of the January 31 IRS deadline. Please allow for normal delivery time of 10-15 days. If you have not received your 1099 by February 16, 2011, please contact OPERS. The process of replacing 1099s will not begin until after this point to allow the post office reasonable time to deliver a huge volume of mail that occurs at this time each year. We appreciate your patience.

Some members may receive (or expect to receive) more than one 1099 from OPERS. If you are a member who received multiple 1099s, it means you also received a distribution as a beneficiary of someone else’s account. You should be able to determine from the amounts which 1099 is for which distribution. If you are expecting an additional 1099, please give it time to get to you. The 1099s were not all mailed at the same time.

January Benefit Notice - Changes in Tax Tables and Retiree Insurance Rates

As an OPERS retiree, you may have federal and state taxes withheld from your OPERS retirement benefits. The 2011 tax tables became effective in January and may impact your net benefit amount if you elected to use the tax tables. You may change your withholding preference at any time by completing a new Withholding Preference Certificate. Both the Withholding Preference Certificate and the new tax tables are available here.

If you have OSEEGIB premiums deducted from your retirement benefit, OSEEGIB has adopted an increase in 2010 health insurance premium rates. For more information on the 2011 rate changes, visit the OSEEGIB website here. OPERS cannot answer questions related to 2011 rate changes or coverage. If you have specific questions about your coverage, please call Oklahoma State and Education Employees Group Insurance Board at 1-800-752-9475.

]]>http://www.opers.ok.gov/form-1099rs-and-january-benefit-notices-hitting-your-mailboxRetirement by Design - 2010 Comprehensive Annual Financial Reports Publishedhttp://www.opers.ok.gov/2010-cafrs-publishedThu, 09 Dec 2010 06:00:00 GMTStephanie WhiteStephanie WhiteWe are pleased to announce the most recent Comprehensive Annual Financial Reports (CAFRs) for the Oklahoma Public Employees Retirement System and Uniform Retirement System for Justices and Judges, entitled Retirement by Design, have been published and are available on our publications page.

This edition of the CAFRs pays tribute to several of Oklahoma’s architectural masterpieces, including Price Tower (Bartlesville), Philbrook Museum of Art (Tulsa), First National Center (Oklahoma City), Adams Hotel (Tulsa), Boston Avenue United Methodist Church (Tulsa), Skirvin Hotel (Oklahoma City) and the Mayo Hotel (Tulsa).

Members will be receiving a copy of the Popular Financial Annual Report (PAFR) as a part of the Retiring Right newsletter mailed in December. The PAFR is a four page summary of the CAFR and includes basic information about the plan’s current status. You can view the PAFR and newsletter on the publications page of our website.

2010 OPERS CAFR    2010 URSJJ CAFR

]]>http://www.opers.ok.gov/2010-cafrs-publishedBarney Kaminsky named Director of Information Technology at OPERShttp://www.opers.ok.gov/2010-barney-kaminsky-it-directorMon, 15 Nov 2010 18:48:53 GMTStephanie WhiteStephanie WhiteBarney Kaminsky is OPERS’ new Director of Information Technology. He will be taking over for retiring I.T. Director Garry McCoy who has been at OPERS nearly 6 years. Mr. Kaminsky has been an I.T. professional for many years serving as a software engineer, developer and manager for companies such as LexisNexis and TRW. He is joining the OPERS staff right away and will be able to work with Mr. McCoy before his retirement.

“OPERS was looking for a new I.T. Director who was a talented programmer with management experience,” said OPERS Executive Director, Tom Spencer. "Barney Kaminsky has what we need and has enormous experience in the private sector and as a federal contractor. We are quite happy to welcome him to our team here at OPERS.”

Kaminsky has a computer science degree from the University of Central Oklahoma and lives in Oklahoma City.

]]>http://www.opers.ok.gov/2010-barney-kaminsky-it-directorOPERS and URSJJ Actuarial Valuations are now availablehttp://www.opers.ok.gov/2010-actuarial-valuationsFri, 29 Oct 2010 14:40:34 GMTStephanie WhiteStephanie WhiteActuarial valuation reports for the Oklahoma Public Employees Retirement System (OPERS) and the Uniform Retirement System for Justices and Judges (URSJJ) were presented to the board of trustees at their monthly meeting on October 28. The valuations were conducted by Cavanaugh Macdonald Consulting, the firm recently engaged to provide actuarial services for the two retirement systems. Click here to view the OPERS and URSJJ actuarial valuation reports as of July 1, 2010.

]]>http://www.opers.ok.gov/2010-actuarial-valuations