Oklahoma Public Employees Retirement System, Oklahoma City, hired Northern Trust to provide comprehensive commission recapture services, subject to final contract negotiations, said Tom Spencer, executive director. He said officials of the $5.5 billion pension fund wanted to have "one point of contact" for the system's commission recapture brokerages. An RFP was issued in October. Strategic Investment Solutions assisted.
Separately, actuary Mellon's Human Resources & Investor Solutions will begin a review of the fund's actuarial and rate-of-return assumptions for the past three years, Mr. Spencer said. The fund currently assumes a 7.5% rate of return on investments. Mr. Spencer said the review will be completed before June 30, when the system's fiscal year ends.
