Plan to give Oklahoma pensioners pay boost stalls in Senate


A House-backed plan to give Oklahoma’s public pensioners a 4% cost-of-living increase has been delayed in the Senate, which is opting to have a study conducted over the interim.

The Senate Committee on Retirement and Insurance voted 7-1 on Thursday to have an actuary study the impact of a 2% raise on the state’s six pension systems.

The Senate author of the bill , Republican Dewayne Pemberton, says the actuarial report should be completed by December. Lawmakers would then be able to consider whether to approve a cost-of-living increase next session.

Over the last 10 years, Oklahoma has dramatically improved the financial position of its pension systems. But retirees also haven’t had a cost-of-living adjustment since 2008 and had been pushing lawmakers to approve one this year.

Copyright 2020 Nexstar Broadcasting, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.

Video Forecast

More Forecast

Don't Miss