Oklahoma Public Employees Retirement System, Oklahoma City, will begin a review of the $5.5 billion fund's actuarial and rate-of-return assumptions for the past three years, said Tom Spencer, executive director. Actuary Mellon's Human Resources & Investor Solutions will conduct the review. 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.
Separately, Northern Trust was hired to provide comprehensive commission recapture services, subject to final contract negotiations, said Mr. Spencer. Pension fund officials wanted to have "one point of contact" for the system's commission recapture brokerages, he said. An RFP was issued in October. Strategic Investment Solutions assisted.
