Michael Smith, Executive Director to Retire
Michael Smith announced his intention to retire as Executive Director of the Omaha School Employees’ Retirement System (OSERS) effective December 31, 2015. Mike has devoted 26 years of service to OSERS the last 23 as its Executive Director. In November 1989, Mike was hired as the first employee of OSERS and is retiring as its only Executive Director.
OSERS has experienced significant growth during Mike’s tenure. The investment portfolio was only $179 million in 1989 and today the investments stand at $1.24 billion. When Mike arrived OSERS was responsible for 4,440 active/vested members. That number has now almost doubled to where there are 8,352 active members. Our retirees were 1,444 and today their ranks have grown to 4,125. It’s interesting to note that Mike has assisted in the retirement of 95% of all of the current retirees in the system. A major accomplishment and one for which he can be very proud.
On behalf of all the members of the retirement system and OSERS staff, the Board of Trustees would like to sincerely thank Mike for his hard work and years of dedicated service to the members of OSERS and the Omaha Public School District. The significant growth in the assets, the number of members served and the lifetime benefits that provide a secure foundation for each member are a testament to that dedication. Thank you Mike and best of luck in a well-deserved retirement.