Unfunded retirement bill wins House approval

Legislation that increases state payments to retired government workers, but does not include a direct funding source, has passed the Oklahoma House of Representatives without opposition on a 99-0 vote. The measure is expected to boost the state’s unfunded liability by $800 million to $900 million.


The legislation was passed amidst a background of stock market volatility that has reduced state pension earnings and falling oil prices that could significantly hamper lawmakers’ ability to cover associated pension costs.

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from Oklahoma Council of Public Affairs Unfunded retirement bill wins House approval