House of Representatives

ADVISORY: Frix to Study Cost of Living Adjustment for State Pensioners


11/14/2019 9:41:00 AM

Contact: State Rep. Avery Frix

Office: (405) 557-7302

 

OKLAHOMA CITY – State Rep. Avery Frix (R-Muskogee) will hold an interim study examining Cost of Living Adjustments (COLAs) for retirees in Oklahoma’s seven state pension plans.

The study will take place before the House Banking, Financial Services and Pensions Committee at 1 p.m. Friday in Room 432A at the State Capitol, 2300 N Lincoln Blvd.

The heads of all of the state’s pension and retirements systems – state firefighters, police, justices and judges, law enforcement, teachers and public employees’ – have been invited to take part in the study.

Presenters are expected to give a financial status report of the retirement systems, a history of how they are funded and the impact a 4% COLA would have on the systems’ funding ratios. Tyler Bond, research manager with the National Institute on Retirement Security, is scheduled to speak on the economic impact of retirees across Oklahoma. Tom Spencer, executive director of the Oklahoma Teachers Retirement System, will speak on the Oklahoma Pension Legislation Actuarial Analysis.