House OKs cost-of-living increase for public pensioners

Oklahoma

FILE – In this Feb. 3, 2020, file photo, Oklahoma Senate President Pro Tempore Greg Treat reacts to the governor’s State of the State address at a news conference following his speech in Oklahoma City. Most retired school teachers, firefighters and other public workers would receive their first pension increase in 12 years under a bill that sailed through the Oklahoma House on Tuesday, March 10, 2020. Treat said this week he personally supports the new payment approach, but there’s not a consensus among Senate Republicans. (AP Photo/Alonzo Adams, File)

OKLAHOMA CITY (AP) — Most retired school teachers, firefighters and other public workers would see their first pension increase in 12 years under a bill that sailed through the Oklahoma House.

The bill approved on a 99-0 vote on Tuesday would give a 4% pay hike to most public pensioners.

Those who retired less than five years ago would see a 2% boost, while those retired for less than two years wouldn’t get an increase.

The bill now heads to the Senate, where lawmakers have been more cautious about the impact the cost-of-living allowance will have on the solvency of the pension systems.

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