Board approves routine contracts, budget and administrative agreements; budget up ~2.7% for FY27

At its June meeting the Oklahoma City Employee Retirement System board approved several routine contracts and the fiscal‑year 2026–27 budget.

The board voted to amend the audit contract with Allen Gibbs and Holic LLC for fiscal‑year 2026 audit services (transcript shows an ambiguous amount recorded as '29,84' — amount not specified in the record). It approved administrative services agreements to administer deferred compensation and money‑purchase plans: an agreement with the Central Oklahoma Transportation and Parking Authority and the Deferred Compensation Board (amount in packet: $10,000), with McGee Creek Authority to administer a 457 plan (amount: $5,000), and with the City of Oklahoma City to provide administration for 457(b) and money purchase plans (amount: $165,000).

The board also approved an agreement tied to the city’s obligation for certain professional/non‑professional services and office rent (fee figure in the packet appears as '49 49,544' in the transcript record; the number is ambiguous in the transcript), adopted the FY27 retirement system budget (about a 2.7% year‑over‑year increase driven primarily by personnel costs and an IT chargeback to integrate PensionPro with the city's Oracle system), and updated procedure 17.1 to clarify which types of employee compensation qualify for pension calculations. Each item was moved, seconded and passed by voice vote.

The board also received the investment consultant report from ACG (Jason Pulis), who said plan assets were "comfortably over a billion" (reported as just under $1.07 billion) and highlighted strong trailing returns (10‑year net-of-fees return ~8.67%). The board voted to receive that report.

(Reporting: actions recorded in the meeting packet and voice votes taken during the meeting.)