Latest news with #Oklahoma529
Yahoo
04-06-2025
- Business
- Yahoo
Todd Russ formally announces campaign for re-election as Oklahoma's state treasurer
Oklahoma State Treasurer Todd Russ has formally announced he's running for a second term in 2026. Russ, a Republican who's from Cordell, made the announcement on Wednesday, June 4, becoming the first person to enter the race for treasurer. He first won election to the office in 2022, capturing 64.8% of the vote to succeed Randy McDaniel, who chose not to run for re-election. Russ, a former banker, registered with the Oklahoma Ethics Commission last September to begin raising money for his 2026 reelection effort. His most recent campaign finance report, for the first quarter of 2025, indicated he had $14,429 in that account. Before being elected as treasurer, Russ represented District 55 in the Oklahoma House of Representatives from 2009 to 2022. During his tenure, he served as chairman of the House Transportation Appropriations and Budget subcommittee and was a member of former House Speaker Charles McCall's leadership team. 'As Treasurer, I use my extensive background in banking and business, along with more than a decade of mastering the inner workings of state government, to help conservatively manage Oklahoma's money and financial resources, significantly improving the state's financial position,' Russ said in a statement. The state treasurer serves on ten boards: the State Board of Equalization, the Council of Bond Oversight, the Teacher's Retirement System, the Public Employees Retirement System, the State Pension Oversight Commission, the Oklahoma College Savings Plan, the Tobacco Settlement Endowment Trust, the Capitol Improvement Authority, the Industrial Finance Authority and the Oklahoma Broadband Governing Board. Russ has more than 30 years of banking and business experience. He once served as president and chief executive officer of the Washita State Bank in Burns Flat and he also has worked in management consulting. He has served on the Oklahoma Bankers Association Board of Directors and as chairman of that organization's Small Bank Council. During Russ' first 2½ years as treasurer, the state's bond rating has twice been upgraded by Standard & Poor's and Moody's, the nation's two largest credit rating agencies and Oklahoma's investment portfolio has posted the highest earnings in the state's history. The state's education savings program, known as Oklahoma 529, is administered by Russ' office and has grown by 21.6%, passing the $1 billion mark in account withdrawals in October 2023. Russ' tenure has not been completely smooth sailing, though. Russ and another statewide elected official, Attorney General Gentner Drummond, have gotten crossways over multiple issues, including legal representation in a case involving a controversial law that blocks Oklahoma from contracting with financial firms that limit oil and gas investments. More recently, a board led by Russ, the Tobacco Settlement Endowment Trust Board of Investors, sued Drummond over who has the final say when the state enters into contracts or other legal agreements with investment managers. The Oklahoma Supreme Court dismissed the lawsuit on Monday, with Russ and Drummond exchanging sharply worded statements criticizing the other. This article originally appeared on Oklahoman: Todd Russ, Oklahoma's state treasurer, announces re-election bid
Yahoo
25-04-2025
- Business
- Yahoo
Oklahoma's 529 College Savings Plan celebrates 25th anniversary
For 25 years, Oklahoma families have been using Oklahoma 529 to save for their children's education. As we celebrate this milestone in April — designated as Oklahoma 529 Awareness Month by a proclamation from the governor — there has never been a better time to start saving for your loved one's future. A quality education can open doors to opportunity, and Oklahoma 529 helps make saving for education simple, affordable and effective. Whether planning for college, technical school or even K-12 tuition, Oklahoma 529 offers tax advantages and low costs, potentially helping families maximize their savings. One of the most exciting developments in recent years has been Oklahoma 529's commitment to reducing fees. In 2021, we announced a 20% reduction in management fees, saving families more than $500,000 annually. In 2024, we took it even further by cutting fees in half — putting over $1 million back into the pockets of Oklahoma families. Additionally, Oklahoma 529 has no administrative fees, making it one of the most cost-effective ways to save for education. It's no surprise that Morningstar™ analysts have consistently rated Oklahoma 529 as a top-tier plan for the past five years. Oklahoma 529 also has evolved to meet the changing needs of families. In 2021, with the passage of HB 1962, Oklahoma 529 conformed with new federal guidelines, expanding the list of eligible education expenses beyond just college tuition. Then, in 2022, we updated our name from the Oklahoma 529 College Savings Plan to simply Oklahoma 529, reflecting the broader range of educational opportunities the plan can support. To mark our 25th anniversary, we are excited to launch the Oklahoma 529 25-Year Celebration Sweepstakes. Each month in April, May and June, one lucky winner will receive $529 to help jump-start their education savings. Parents, grandparents, aunts, uncles — anyone looking to give a child the gift of education — should take advantage of this opportunity. The message is clear: Saving for education is within reach. With Oklahoma 529, even small, regular contributions can add up significantly over time, helping to provide a strong foundation for a student's education. If you haven't yet started an Oklahoma 529 account, now may be the perfect time. Join thousands of Oklahoma families who have already discovered how easy and rewarding it is to save for education. Go to to learn more and enter the 25-Year Celebration Sweepstakes today. Todd Russ is Oklahoma's state treasurer This article originally appeared on Oklahoman: State college savings plan is easy and cost-effective | Opinion
