The public pension plan for retired Sooner State employees has made slight tweaks to its asset allocation, the system’s lead executive told IMMP.
In a Friday morning email, Tom Spencer, executive director at the roughly $7.8 billion Oklahoma Public Employees’ Retirement System (OPERS), confirmed the changes.
“In the current low-yield environment, and with the outlook for fixed-income total returns being depressed over the next few years, the Board decreased the fixed-income allocation to 32% and increased domestic equities to 44%,” Spencer said.
The system’s new asset mix is 44% domestic equity, with sub-targets of 38% large-cap and 6% small-cap, 24% international equity, and 32% domestic fixed-income.
Spencer said the new targets will apply to both OPERS and the Oklahoma Uniform Retirement System for Justices and Judges (URSJJ). He also noted that because of recent market news, the portfolios will require little or no rebalancing to fulfill the tweaked allocations.
The previous carve-outs were 40% domestic equity, 24% international equity and 36% domestic fixed-income.
