[{"_1":2,"_88":-5,"_89":-5},"loaderData",{"_3":4,"_26":27},"root",{"_5":6,"_17":10,"_18":19,"_20":21,"_22":10,"_23":-5,"_24":-5,"_25":10},"user",{"_7":8,"_9":10,"_11":10,"_12":-5,"_13":-5,"_14":15,"_16":-5},"roles",[],"isAuthenticated",false,"isPremium","planName","subscriptionStatus","featureFlags",{},"insightsBudget","isDevelopmentHost","userPreferences",{},"recaptchaSiteKey","6LcvOJcUAAAAAHsB-gPGfGktcRlKpH7OTIU_dMTD","isImpersonating","impersonation","affiliateStatus","isFreedomPortal","routes/v2/article/layout",{"_28":29,"_30":31},"notFound",true,"relatedArticles",[32,76],{"_33":34,"_35":36,"_37":38,"_39":40,"_41":42,"_43":44,"_45":46,"_47":48,"_49":50,"_51":52,"_53":54,"_55":56,"_57":58,"_59":60,"_61":62,"_63":64,"_65":66,"_67":68,"_69":70,"_71":72,"_73":74,"_75":74},"mediaId",6538940,"mediaKeyId","3794751-a46f568629526fa80ca00315ce6a9265","parentId",3794751,"title","Trustees approve retirement resolution and a package of contracts, budgets and administrative agreements","audioSeconds",646,"startMs",1623000,"endMs",2269000,"viewUrl","/Search/View?dp=1&key=3794751-a46f568629526fa80ca00315ce6a9265&start=1623&end=2269","thumbnailUrl","https://assets.pipeline.soar.com/3794751-a46f568629526fa80ca00315ce6a9265/thumbnail_1623000.jpg","articleUrl","/articles/6538940/Oklahoma/Trustees-approve-retirement-resolution-and-a-package-of-contracts-budgets-and-administrative-agreements","mediaUrl","https://secure.pipeline.soar.com/6538940-297b8b87f2c74178b46dd48fcf1ecbc4/orig.mp4?Expires=1770582206&Signature=ZNZ-v3Zuk98zmSrY1x6bNJwvv0A~T23MnhUVO36oqDeasjvM2B0qEBwy2dZoF4SHXj7L1boAVGsx3rYbMqMJB04zCuNfHmzO6shqTL5mVLqG2El1TR8ymmc7wn7gYNQw5wueqZLhe5lRyoHV9Er-cboj97XLtCZnWNYX3MdYiNCs8E1mCTgNdAKbCSOq-JA-BdrNOyrDAXwQ0ouIjXEaL9FjAJBPnOu74RP5PecBxqeUDmVZagESQpkUqFEtfR8jj6ZkGod5kmKJXwxlF7mu4s9uyEjKbih0RUnlLJI~wc3otTqwX0tjJjUA78-dApW~pe4ssExHCnrqvmQnSpl~HQ__&Key-Pair-Id=KUT5TJCACFTXG","author","Public Employees Retirement System","date","2025-06-13T06:23:53Z","article","The trustees of the Oklahoma City Employee Retirement System unanimously approved a resolution honoring outgoing trustee JC Reese and approved a package of routine items, administrative service agreements, the FY2025-26 budget for the retirement system and an audit contract.

Paula (the retirement system secretary) read the resolution recognizing JC Reese's service. The resolution notes the board was established by ordinance number 8169 in January 1958 and records that Reese began working for the city in 1985, served as a trustee since July 2019 and is a systems analyst 3 in the public works department. Reese and multiple trustees spoke in appreciation; the resolution \"passed unanimously,\" the board reported.

The board took the following formal actions (all outcomes noted as recorded in the meeting transcript):

- Resolution of appreciation for JC Reese (Item 2): Read by the secretary; trustees praised Reese's service; the board voted and the resolution passed unanimously.

- Approve meeting minutes of 05/08/2025 (Item 3): Motion approved unanimously.

- Consent docket (Item 4): Three consent-docket items were approved unanimously (transcript does not list individual consent items by name).

- Ratify approvals (Item 5): Ratification approved unanimously.

- Claims docket (Item 6): Approved unanimously.

- Applications for service retirement (Item 7): Approved unanimously.

- Reported death and $5,000 death benefit authorization (Item 8): Board authorized payment of the $5,000 death benefit and directed the secretary to make necessary changes; passed unanimously.

- Report of death and administrative updates (Item 9): Received and approved; secretary authorized to make necessary changes; passed unanimously.

- Terminate vested rights and commence retirement benefits (Item 10): Approved unanimously.

- Individual consideration (Item 11, multiple subitems): The board approved a series of administrative-service agreements and operating items for 2025–2026:
• Item 11a: Amendment No. 1 to the administrative services agreement to administer the 457 deferred compensation and money purchase plans (effective 05/01/2025); approved unanimously.
• Item 11b: Administrative-service agreement with the Oklahoma City Deferred Compensation Board to provide administration of the 457 deferred compensation plan and money purchase plan and trust (fee reported as $175,500 for July 1 through 06/30/2026); approved unanimously.
• Item 11c: Agreement between the City of Oklahoma City and the retirement system for certain professional and nonprofessional services and office rental, with a fee reported in the transcript as $230,000.898 for 07/01/2025–06/30/2026 (amount in transcript appears garbled); approved unanimously.
• Item 11d: Administrative services agreement with the Central Oklahoma Transportation and Parking Authority for administration of the 457 deferred compensation plan and related money purchase plan for a fee reported as $12,200 for 07/01/2025–06/30/2026; approved unanimously.
• Item 11e: Fiscal year 2025–26 employee retirement system budget; approved unanimously.
• Item 11f: Amendment No. 3 to the audit contract with Allen Gibbs Hulick LLC for fiscal year 2025 audit services, not to exceed $28,385; approved unanimously.

- Receive the investment consultant report from ACG (Item 12): The board recorded receipt of the ACG/George Tarlos report; acceptance was entered unanimously.

Following the votes, trustees offered brief comments, staff recorded the approvals, and the meeting adjourned.","mediaType","Video","parentTitle","Oklahoma City Employee Retirement System - June 12, 2025","oneSentenceSummary","At a regularly scheduled meeting, the Oklahoma City Employee Retirement System board unanimously approved a resolution of appreciation for trustee JC Reese and passed a series of consent items, administrative-service agreements, the FY2025-26 retirement system budget and an audit contract.","taxTitle","Public Employees Retirement System, Executive, Oklahoma","taxId",72880,"location","Oklahoma","headline","","shortSummary",{"_33":77,"_35":36,"_37":38,"_39":78,"_41":79,"_43":80,"_45":81,"_47":82,"_49":83,"_51":84,"_53":85,"_55":56,"_57":58,"_59":86,"_61":62,"_63":64,"_65":87,"_67":68,"_69":70,"_71":72,"_73":74,"_75":74},6538945,"Investment consultant: Oklahoma City pension fund posts modest gains; consultant highlights debt, deficit and uncertainty",904,634000,1538000,"/Search/View?dp=1&key=3794751-a46f568629526fa80ca00315ce6a9265&start=634&end=1538","https://assets.pipeline.soar.com/3794751-a46f568629526fa80ca00315ce6a9265/thumbnail_634000.jpg","/articles/6538945/Oklahoma/Investment-consultant-Oklahoma-City-pension-fund-posts-modest-gains-consultant-highlights-debt-deficit-and-uncertainty","https://secure.pipeline.soar.com/6538945-da14af0ac563c326cbd9469ad759713b/orig.mp4?Expires=1770582206&Signature=HbfJ1IhkUpI22-OanXIkl~R6qSRNl2oGd8uIB~XxTG-fVVeApnxjT-xQohqXOOzFAed17VPoDQlgOBOyz-CpMhFKmv6hfxaPHE7x3YbWYE9lpngTFAsXxYeVKXC~DsCdC8M2A2phLrjAuLvdV5INgZzTI~zzkm-s70qSm0yOGrQwWNeWGxyGeZDXIo4g6lkbkn3TKNK~hhFWdvhkHGMpIEB5kVJZdz7vQlW-ikHbtmveahdUbqT0zb5X~pjbAJcP~ZFm0u8lGoKJydccHdT2um7kd6TeKuIx1~b73kb5d8arRuiwnKkOowCPPxVb4NirQQtfpyGoqdDgvtJkx1opVQ__&Key-Pair-Id=KUT5TJCACFTXG","George Tarlos, an investment consultant with ACG, told trustees of the Oklahoma City Employee Retirement System that the pension fund had positive returns so far this calendar year and over the last 12 months.

\"Little less than 3% on the whole. And then over the last 12 months, 7 and a half percent total return for your portfolio,\" Tarlos said, summarizing recent performance.

Tarlos said headline risks — trade disputes, budget debates, and questions about interest rates — have produced a lot of daily noise for investors but have not prevented the plan's positive results. \"What investors don't like though, and my buzzword for today is uncertainty,\" he said.

Why this matters: The board manages benefits for current and future retirees and uses long-term return expectations to set asset allocation and contribution assumptions. Modest positive returns reduce short-term pressure on plan funding but trustees and staff continue to monitor risks that could affect long-term obligations.

Tarlos reviewed the plan's allocations and recent contributors to performance. He said the portfolio was ‘‘modestly over allocated equity, a little bit under in fixed income and real assets’’ through May and noted international developed equities have been particularly strong this year. \"International developed markets equity, year to date is up 14 and a half percent,\" he said, while adding that currency moves affect returns when converted back to dollars.

The consultant identified two relative performance drivers for the plan: weak small-cap equity returns, which he said reflect smaller companies' sensitivity to floating-rate debt and trade uncertainty, and stronger international returns, helped this year by weaker U.S. dollar exchange rates.

Tarlos also flagged longer-term macro risks. He said national debt and deficit levels are a concern and noted recent rating-agency actions affecting investor confidence in U.S. government debt. \"The cost, the interest cost to service that debt is now over a trillion dollars a year,\" he said, adding that rising interest costs can crowd out other government spending.

On monetary policy, Tarlos summarized recent data and market expectations: unemployment remains low, inflation has come down from recent peaks, and market forecasts include the possibility of two or three Federal Reserve rate cuts this year, though he emphasized the Fed's decisions are data dependent.

On portfolio management, he told trustees the plan's target allocations are designed to deliver the pension fund's long-term, risk-adjusted returns and cautioned against reacting to short-term market noise. \"We don't want to react to that. We want to be thoughtful about do we want to make any modifications,\" he said.

Trustees accepted the report; the board planned to formally receive the consultant's written report when a full quorum was present.

The board chair thanked Tarlos for the presentation and noted Jason (an investment staffer referenced by Tarlos) would return for a deeper review of the international portfolio at a future meeting.","At a meeting of the Oklahoma City Employee Retirement System trustees, investment consultant George Tarlos reported the pension fund was up about 2.7% year-to-date and about 7.5% over the past 12 months, and said the firm is watching national debt, deficit and ongoing economic uncertainty.","actionData","errors"]

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Trustees approve retirement resolution and a package of contracts, budgets and administrative agreements

Investment consultant: Oklahoma City pension fund posts modest gains; consultant highlights debt, deficit and uncertainty