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Oklahoma Capitol update: House Bill 2078

House Bill 2078 would increase employee contributions to the Oklahoma Firefighters Pension and Retirement System from 8 to 9 percent, city contributions from 13 to 14 percent and state contribution from 34 to 36 percent.
Modified: February 20, 2013 at 8:55 pm •  Published: February 21, 2013
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Capitol update

Firefighters

At stake: House Bill 2078 would increase employee contributions to the Oklahoma Firefighters Pension and Retirement System from 8 to 9 percent, city contributions from 13 to 14 percent and state contribution from 34 to 36 percent. It deals with the firefighter pension system's deferred retirement option. Participating firefighters are eligible to receive either a 7.5 percent return on their investment or the system's annual investment returns minus 2 percent, whichever is greater. It calls for firefighters to receive the annual investment returns minus 1 percent.

What happened: Passed the House 90-6.

What's next: Goes to the Senate.

MICHAEL MCNUTT, CAPITOL BUREAU


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