Oklahoma Public Finance Protection Act establishes fiduciary duties for pension benefit plans, prohibiting nonpecuniary factors in investment.

The Oklahoma Public Finance Protection Act codifies fiduciary duties for pension benefit plans, emphasizing that fiduciaries must act solely in the pecuniary interest of participants and beneficiaries. The act prohibits fiduciaries from considering nonpecuniary factors, such as environmental, social, or political goals, when evaluating investments or voting shares. It mandates that fiduciary decisions focus on financial risks and returns. The Attorney General is authorized to enforce the act, including examining persons and records related to violations.

Oklahoma Public Finance Protection Act establishes fiduciary duties for pension benefit plans, prohibiting nonpecuniary factors in investment.

The Oklahoma Public Finance Protection Act codifies fiduciary duties for pension benefit plans, emphasizing that fiduciaries must act solely in the pecuniary interest of participants and beneficiaries. The act prohibits fiduciaries from considering nonpecuniary factors, such as environmental, social, or political goals, when evaluating investments or voting shares. It mandates that fiduciary decisions focus on financial risks and returns. The Attorney General is authorized to enforce the act, including examining persons and records related to violations.