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Plan to give Oklahoma pensioners pay boost stalls in Senate

Oklahoma Capitol building
Posted at 1:55 PM, Apr 11, 2019
and last updated 2019-04-11 14:55:01-04

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.

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