State To Address Pension
Ponca City Now - October 6, 2013 9:39 am
Okla. GOP leaders look to change state pensions
OKLAHOMA CITY (AP) – Republican leaders in Oklahoma who have made major changes in recent years to the state’s pension systems say they aren’t finished and plan to push next year to put an end to the traditional pension for new state workers.
Switching to a 401k-style retirement account for newly hired state employees has long been a top goal of many fiscal conservatives. The governor and legislative leaders in the House and Senate have endorsed such a move, although a battle undoubtedly will ensue with resistance from rank-and-file state workers.
Oklahoma Public Employees Association head Sterling Zearley says he’s open to discussing pension change, but not without a commitment from the Legislature to increase pay for state workers.
The proposed switch would not apply to pension systems for police and firefighters.