Oklahoma Lawmakers Look to Shore-up Pension Systems

Oct 4, 2012

OKLAHOMA CITY (AP) — Oklahoma lawmakers are planning to take an in-depth look at the state's pension systems and seek new ways to reduce the unfunded liability of the major systems.

The House Pension Oversight Committee will meet Thursday at the state Capitol for a pair of interim studies on the state's pension systems. Both were requested by state Rep. Randy McDaniel, the chairman of the committee.

McDaniel spearheaded a host of changes two years ago to shore up the unfunded liability of the state's pensions by increasing the retirement age for new hires and changing how the state provides cost of living adjustments for retirees.

But a number of changes McDaniel sought last year for the state's pension systems for firefighters and law enforcement personnel were unsuccessful.

Copyright 2012 The Associated Press.