Oklahoma State Treasurer Todd Russ
State Treasurer, Todd Russ
OKLAHOMA CITY (February 12, 2026) – The Oklahoma Pension Commission has approved the creation of a formal proxy voting report as part of ongoing efforts to strengthen oversight and protect the financial interests of Oklahoma’s public retirement systems. At the same time, related legislation addressing proxy voting standards and proxy advisory transparency has advanced through the Banking, Financial Services and Pensions Committee in the Oklahoma House of Representatives.
This week, the Commission voted to establish a reporting mechanism detailing how shareholder proxy votes are cast on behalf of Oklahoma’s public pension funds. The report will provide greater visibility into proxy voting activity and help ensure that those votes are aligned with fiduciary obligations and focused on financial outcomes for beneficiaries not political agendas.
Proxy voting rights are attached shares of stock owned by pension investments and can influence corporate decisions that affect long-term returns. By increasing transparency and oversight, the Commission’s action is intended to reinforce responsible stewardship and protect the retirement security of Oklahoma’s retirees.
“The responsibility to manage retirement dollars carries with it a duty to protect those funds,” said State Treasurer Todd Russ. “Transparency in proxy voting allows oversight and helps ensure that decisions affecting our pension systems are made with one priority in mind, the financial security of the pensions of Oklahoma retirees.”
Separately, House Bill 4428 and House Bill 4429, authored by Speaker of the House Kyle Hilbert, have advanced through committee in the Oklahoma House of Representatives. Both measures remain part of the legislative process to ensure transparency in proxy voting.
House Bill 4428 relates to public finance and would require that the exercise of shareholder votes or the introduction of proxy proposals be based on pecuniary (financial) factors, while also directing the production and publication of a proxy voting report.
House Bill 4429, known as the Proxy Advisor Transparency Act, would establish disclosure requirements and standards for proxy advisory firms operating on behalf of the state.
About the Oklahoma Pension Commission
The Oklahoma Pension Commission provides oversight and coordination for the state’s public retirement systems, including:
- Oklahoma Firefighters Pension and Retirement System (OFPRS)
- Oklahoma Law Enforcement Retirement System (OLERS)
- Oklahoma Public Employees Retirement System (OPERS)
- Oklahoma Police Pension and Retirement System (OPPRS)
- Oklahoma Wildlife Conservation Retirement System (OWCRS)
- Teachers Retirement System (TRS)
- Uniform Retirement System for Justices and Judges (URSJJ)
Get Local News!
