It’s a question I hear a lot—how do Oregon’s investments stack up against other pension plans? At the most recent Oregon Investment Council (OIC) meeting, we found out.

According to Meketa, the Oregon Public Employees Retirement Fund (OPERF) was recognized as the top performing fund among pension plan peers whose portfolios are larger than $5 billion since current performance tracking went into effect (1997). From July 1997 to March 31, 2026, OPERF returned 7.7%.

Treasury is focused on delivering long-term growth for Oregon’s public employees and all the state residents who depend on the services hard-working OPERF members provide. This recognition underscores how Treasury has stayed true to that strategy to the benefit of our state.

I appreciate the work of previous treasurers and Treasury’s investment team in building this high-performing track record. I’m committed to sustaining our record of excellence, even through these economically uncertain times.

In September, the OIC will chart Oregon’s investment strategy for the next four years. I’ll share the OIC’s roadmap with you and keep you informed about our investment performance as we navigate these uncertain economic times. If you’re interested, you can find my investment principles here.

Oregon State Treasury 2025 Annual Report

Last week, we shared the Oregon State Treasury’s 2025 annual report with legislators. The report summarizes my first year as Treasurer. I’m proud of all the work we accomplished through Treasury’s talented and hard-working staff in collaboration with partners across Oregon and the nation. I hope you get a chance to take a look.

 - Elizabeth Steiner, MD, Oregon State Treasurer