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TSET Certifies Additional $17.3 Million (Nov 16, 2011)

OKLAHOMA CITY - State Treasurer Ken Miller announced Wednesday the Oklahoma Tobacco Settlement Endowment Trust Fund has certified an additional $17.3 million in earnings to use in the coming year.

That puts the total certified earnings from investment during this fiscal year at $36 million.

A release from the treasurer’s office says an attorney general’s opinion earlier this year that declared a state law limiting the calculation of earning unconstitutional facilitated the change.

Also at today’s meting, the TSET board of directors approved a policy to limit annual spending to no more than 5 percent of the value of the fund.

The Oklahoma Tobacco Settlement Endowment contains approximately $662 million.

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