Oklahoma House of Representatives passes pension bill

by Randy Ellis Published: February 14, 2014

The state House of Representative on Thursday passed a bill that would require the Legislature to annually pay the actuarially required contribution amount needed to keep the state pension system on track to become fully funded.

The requirement would not apply in years when the amount would exceed 15 percent of the state general revenue fund budget.

Randy McDaniel, House author of the bill, said the exception is designed to give the state needed flexibility in financially tough years.

The state currently is paying about 20 percent of the budget into pension systems because it has more than $11 billion in unfunded pension liabilities and is committed to shoring up the system, said McDaniel, R-Edmond.

The bill passed the House 69-24 and will now go to the Senate.

by Randy Ellis
Capitol Bureau Reporter
For the past 30 years, staff writer Randy Ellis has exposed public corruption and government mismanagement in news articles. Ellis has investigated problems in Oklahoma's higher education institutions and wrote stories that ultimately led to two...
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