Oklahoma

TexasTowelie

(116,973 posts) Mon Apr 15, 2019, 12:48 PM Apr 2019

Push to give Oklahoma state retirees raise dies

Retired state employees in six state pension systems will not see a boost in their pensions this year.

A Senate committee punted on moving forward with a 2% cost-of-living adjustment for retirees, including teachers, firefighters and police, in specific Oklahoma state pension systems.

Instead, the Senate Retirement and Insurance Committee opted to pursue an actuarial study to get more information on the issue. The committee voted 7-1 Thursday to pursue the study.

The move means HB 2304 by Rep. Avery Frix, R-Muskogee, is dead for the legislative session. But the actuarial analysis will be complete before Dec. 1, meaning the Legislature may consider a cost of living adjustment again next year.

Read more: https://newsok.com/article/5628466/push-to-give-oklahoma-state-retirees-raise-dies

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Push to give Oklahoma state retirees raise dies (Original Post) TexasTowelie Apr 2019 OP

While that's something of a shame, PoindexterOglethorpe Apr 2019 #1

PoindexterOglethorpe

(26,730 posts)

1. While that's something of a shame,

Reply to TexasTowelie (Original post)

Mon Apr 15, 2019, 01:55 PM

Apr 2019

most pensions, certainly all private ones, don't provide for cost of living raises. For a very long time neither did Social Security.

And I don't know about Oklahoma, maybe that state has adequately funded its pension obligations, but many states, counties, and cities have not. A lot of retired public employees are in for a huge shock in a few years.

Companies and governments should absolutely be required to fund their pensions properly.

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