# Oklahoma City Employee Retirement System - November 12, 2026

The Oklahoma City Employee Retirement System meeting was held November 12, 2026. The board received the FY2025 financial statements, which had a clean audit opinion. Fiduciary net position increased by nearly $54 million, the funded ratio rose from 91.34% to 92.25%, and a prior audit finding was no longer reported. The board also handled routine approvals related to retirements and benefits. It passed a resolution authorizing the chair and the municipal counselor’s office to negotiate and execute a retention agreement with securities law firm Libation Keller and Suturro to pursue claims related to the system’s investments in Coastal Financial Corporation. A request to send two staff members to a 2027 pension communications summit in New Orleans was presented, but the transcript does not capture its disposition.

The investment consultant reviewed portfolio performance and discussed personnel changes and other qualitative concerns at international equity manager Lazard. No manager termination or replacement decision was made; staff planned to invite alternative managers to a future meeting for board consideration. No contract amount or fee for the securities law firm agreement was stated.

**Jurisdictions:** sled
**Industries:** Professional Services
**Published:** November 12, 2026

### Sources
- [Oklahoma City Employee Retirement System - November 12, 2026](https://www.youtube.com/watch?v=qjWughlsgLs) - cityofokc