Rally planned to oppose Oklahoma pension plan

BY THE ASSOCIATED PRESS Published: February 17, 2014

Groups that oppose pension reform plans proposed in the Oklahoma Legislature are planning a rally at the state Capitol.

Officials say firefighters, nurses, social workers, teachers, corrections officers, public employees, and others will gather at the Capitol on Monday to protest plans they say will “gut” public employee pensions.

The proposals include moving newly hired state workers from the current defined-benefit pension into a 401(k)-style retirement system now widely used in the private sector that supporters of the bill say will help reduce the state’s roughly $11.6 billion unfunded pension liability.

It is opposed by the Oklahoma Public Employees Association.