Oklahoma County pension board accepts actuarial valuation, approves $731,000 contribution and vendor payments

The Oklahoma County Pension Board on a voice vote received its July 1, 2025 actuarial valuation from SageView, approved payment for the valuation and related audit invoices, and authorized a $731,000 contribution to the pension plan to be funded from the county's forfeiture account.

Dan Homan, an actuary with SageView, presented the valuation and related statistics. He told the board the closed retirement plan ("this plan was closed back in, I think it was 02/2006") had 84 lives as of July 1, 2025 — one active employee, seven terminated-vested members, 47 retirees and 29 beneficiaries — and that the plan’s raw future cash flows totaled about $19,000,000. "We expect to pay out, when that last person dies off, about $19,000,000," Homan said. He reported assets of $6,470,000, liabilities (discounted at 2.75%) of about $14,200,000, and an resulting unfunded liability of roughly $7,690,000. The plan’s funded percentage was reported at 45.7%.

The valuation uses an expected return (discount) rate of 2.75% for liabilities…