Skip to main content

Oregon Investment Council

Oregon Investment Council

The Oregon Investment Council oversees the investment and allocation of all State of Oregon trust funds, including the Oregon Public Employees Retirement Fund, the Common School Fund, and the State Accident Insurance Fund.

Council members are fiduciaries. Four members are appointed by the governor, and two are ex officio members: The State Treasurer and the director of the separate agency that administers the Public Employees Retirement System.

The council meets eight times annually. All of the meetings are open to the public. 

Investment and Management Beliefs

Statement of Funds Governance

Statement of Investment Objectives and Policy Framework

Jump to:

Council Members

Upcoming OIC Meetings Calendar with Agendas

OIC Meeting Announcements, Minutes and Audio

Council members

Appointed Members

Rukaiyah Adams, Chair
Meyer Memorial Trust

Rukaiyah Adams is the Chief Investment Officer at Meyer Memorial Trust (MMT). In that position, she is responsible for leading all investment activities to ensure the long-term financial strength of the organization including investment policy, asset allocation, performance measurement, manager selection and risk management. Under her leadership, MMT invests in a diversified portfolio of global equities, fixed income, private equities (including venture, buyout and distressed securities), real estate, commodities and hedge funds. Before joining Meyer, she was the Director, Investment Management at The Standard. Ms. Adams serves on the Board of Directors of Oregon Public Broadcasting. Ms. Adams holds a BA with distinction from Carleton College, a JD from Stanford Law School and an MBA from Stanford Graduate School of Business.

Ms. Adams's appointment by Gov. John Kitzhaber was confirmed by the Senate on April 30, 2013. Her current term ends in January 2022.


John Russell, Vice Chair
Russell Development Company, Inc.

John Russell founded Russell Development Company in 1979, where he presently serves as President. The company's downtown projects include 200 Market Street and Pacwest Center. The former project is known as one of the city's more sustainably built structures. Russell is a former member of the Oregon Transportation Commission, former chair of the Portland Development Commission, former vice president of the Portland City Planning Commission and former member of Portland Historic Landmark Commission. Mr. Russell holds BS degrees in Naval Architecture and Marine Engineering from Webb Institute of Naval Architecture, and an MBA from Harvard Business School.

Mr. Russell’s appointment by Gov. Kate Brown was confirmed by the Senate on April 1, 2015. His current term ends in March 2023.


Rex Kim
Multnomah Group

Rex Kim is a Retirement Consultant at Multnomah Group, an independent retirement plan consulting firm headquartered in Portland. In his role as consultant, he works alongside plan sponsors to assist them in making sound decisions related to their organization's employee retirement accounts. Prior to Multnomah Group, he was a Managing Director at Tallwoods Partners, involved with investment research on behalf of the firm's clients and advising clients on how to properly manage their investment portfolios. Before Tallwoods, Mr. Kim worked as a portfolio manager with Common Sense Investment Management, a fund of hedge funds. Prior to CSIM, he was the Director of Hedge Fund Research at CTC Consulting. Mr. Kim has taught graduate level courses as an adjunct instructor at the University of Portland. He is a graduate of Carleton College.

Mr. Kim was appointed by Gov. Kate Brown on January 12, 2016 and confirmed by the Oregon Senate in February 2016. His current term ends in February 2020.


Patricia Moss

Patricia Moss served as CEO of Cascade Bancorp and Bank of the Cascades from 1998 to 2012, and prior to that time served as the company’s Chief Financial Officer and Chief Operating Officer. She has served on several public boards and one private company board, ranging from banks, mutual funds, natural resources, health care, utilities and construction as well as multiple non-profit boards. She is a previous chair of the Oregon Growth Fund Board. She has served as a board member or chairman for Central Oregon Community College, St. Charles Medical Center, Bend Chamber of Commerce, Oregon State University Advisory Board, and several other community roles and fund raising campaigns. She earned a Bachelor of Science in Business from Linfield College in McMinnville.

Ms. Moss was appointed by Gov. Kate Brown on Nov. 20, 2018. She was confirmed by the Oregon Senate in December 2018. Her term expires in December 2020.

Members by Position

Tobias Read
State Treasurer (Serves by Position)

Tobias Read took office on Jan. 2, 2017 as Oregon's 29th State Treasurer. He previously worked in the U.S. Treasury and as a liaison between designers, engineers and manufacturing units for Nike Inc. Prior to being elected Treasurer, he served a decade in the Oregon House of Representatives and championed legislation to invest in public education, improve state financial management, finance critical infrastructure improvements, and to help Oregonians save for more secure futures. As Treasurer, he oversees Oregon's financial services agency.

The State Treasurer is a voting member of the OIC per ORS 293.706(4).


Kevin Olineck
Director, Public Employees Retirement System (Serves by Position)

Mr. Olineck was appointed the Director of the Public Employees Retirement System (PERS) effective July 16, 2018. He is responsible for administration of the statewide retirement system serving more than 347,000 members, retirees and beneficiaries. Prior to joining PERS, Olineck was a senior executive with British Columbia Pension Corporation as well as Alberta Pension Services, two of the largest public sector pension administrators in Canada. Olineck has a degree in Public Administration from the University of Saskatchewan, his Certified Employees Benefits Specialist (CEBS) designation as well as his Institute of Corporate Governance, Directors (ICD.D) designation.

The Director of the Public Employees Retirement System is an ex-officio member of the OIC with no voting power, per ORS 293.706(5).

OIC Meetings, Agenda, and Details

OIC Meeting Books, Minutes, and Audio


Public Meeting Materials Minutes Audio
Regular Meeting: September 18, 2019 Audio
Cancelled Meeting: August 7, 2019 -- --
Regular Meeting: June 5, 2019 Minutes Audio
Regular Meeting: April 24, 2019 Minutes Audio
Regular Meeting: March 13, 2019 Minutes Audio
Regular Meeting: January 31, 2019 Minutes Audio


Public Meeting Materials Minutes Audio
Regular Meeting: December 12, 2018 Minutes Audio
Regular Meeting: October 31, 2018 Minutes Audio
Regular Meeting: September 19, 2018 Minutes Audio
Regular Meeting: August 8, 2018 Minutes Audio
Regular Meeting: June 6, 2018 Minutes Audio
Special Meeting: April 27, 2018 Minutes Audio
Regular Meeting: April 25, 2018 Minutes Audio
Regular Meeting: March 14, 2018 Minutes Audio
Regular Meeting: Febuary 1, 2018 Minutes Audio

For earlier meeting materials, please visit the OIC Meetings Archive page.

Still not finding what you are looking for? Fill out a Public Records Request.

Your browser is out-of-date! It has known security flaws and may not display all features of this and other websites. Learn how