OK SB959

Creates a 13-member Task Force on Investment Practices of the Oklahoma Statewide Pension Systems, composed of gubernatorial appointees, legislative appointees, pension board representatives, State Treasurer, and Director of Office of State Finance.

Task force shall conduct a comprehensive review of investment practices of six statewide pension systems (OPERS, Teachers' Retirement System, Law Enforcement Retirement System, Police Pension and Retirement System, Firefighters Pension and Retirement System, and Uniform Retirement System for Justices and Judges).

Task force shall also review investment practices of statewide pension systems in other states and make recommendations to improve Oklahoma's pension investment practices, with a final report due by December 1, 2009.

Members receive no compensation for service but may receive travel reimbursement according to state law; task force must achieve simple majority quorum to take official action; task force dissolved December 31, 2009.

Effective date is July 1, 2009, with emergency clause declaring immediate necessity for public peace, health, and safety.