Oklahoma Law Enforcement Retirement System, Oklahoma City, posted a preliminary net return of 4.5% for the fiscal year ended June 30, according to an investment report on the pension fund's website.
That's below the 6.5% one-year benchmark return.
The $993 million pension fund also missed its benchmark on a three-, five- and 10-year basis. For the three, five and 10 years ended June 30, the pension fund returned an annualized net of 8.92%, 5.8% and 9.3%, respectively, below the respective benchmark returns of 8.93%. 6.4% and 9.7%.
In 2018, the pension fund earned a net 9.1% return, according to last year's investment report.
Duane Michael, the executive director of the pension fund, did not respond to voice and email messages regarding the fund's assumed rate of return for 2019.