The state will have about $26.3 million next year to help reduce tobacco use and address other health issues thanks to the Oklahoma Tobacco Settlement Endowment Trust (TSET) Board of Investors preliminary certification of earnings.
While down from previous years, Treasurer Ken Miller said the fund actually outperformed most other public endowments.
“Despite suppressed markets and lower earnings, I’m pleased we were able to outperform the majority of our peers and generate this additional funding for the good work of TSET,” Miller said. “This certification brings to $316.3 million the total earnings made available from investment of Oklahoma’s share of the tobacco settlement since 2000.”
Oklahoma is the only state which has a constitutionally protected endowment funded by the national Master Settlement Agreement. It has tobacco companies paying the states as long as cigarettes are sold in the U.S.
Miller serves as the chairman of the TSET board that oversees investment of the money from the settlement.
After an annual audit is completed, the Board of Investors will certify the final earnings.
