OKLAHOMA CITY (AP) — Oklahoma Gov. Kevin Stitt has signed into law a bill giving most retired school teachers, firefighters and other public workers their first pension increase in 12 years.
Stitt signed the bill Thursday, following through on a promise he made on the campaign trail to get pensioners a cost-of-living increase.
The bill takes effect immediately. Under the bill’s tiered approach, most retirees will see an increase of 4%.
Those who retired between two and five years ago would see a 2% boost, while those retired for less than two years would get no increase.