Local & Regional
Tue February 18, 2014
Oklahoma Public Workers Oppose Pension Proposals
OKLAHOMA CITY (AP) — Hundreds of teachers, firefighters and state employees are rallying at the state Capitol to protest proposed changes to the retirement system for public workers.
Public employees from across the state visited with legislators on Monday and urged them to stop their plan to shift newly hired state workers from the current defined-benefit pension system to a 401(k)-style retirement plan.
Although the current bills only apply to state workers, and not teachers or firefighters, opponents says it's likely teachers are likely to be targeted by lawmakers next.
Supporters of the change say it will help shore up the estimated $11.6 billion in unfunded liability of the state's retirement systems, but opponents say recent changes already have stabilized the systems.