NewsLocal News

Actions

Plan to give Oklahoma pensioners pay boost stalls in Senate

Posted: 1:55 PM, Apr 11, 2019
Updated: 2019-04-11 14:55:01-04
Oklahoma Capitol building

OKLAHOMA CITY (AP) -- 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.

Stay in touch with us anytime, anywhere.

Download our free app for Apple and Android and Kindle devices.

Sign up for newsletters emailed to your inbox. Select from these options: Breaking News, Severe Weather, School Closings, Daily Headlines and Daily Forecasts.

Follow us on Twitter

Like us on Facebook