By Associated Press and Kurt Gwartney
Gov. Mary Fallin has vetoed a bill that would have given state workers the option of enrolling in a defined contribution retirement plan similar to a 401(k).
The bill by Oklahoma City Republican Rep. Randy McDaniel that Fallin vetoed Friday would have allowed state employees hired after July 2014 to choose between a defined contribution option and the current defined benefit system. The bill was approved earlier this week by the House on a 72-20 vote.
Democrats in the House argued the bill would increase the risk involved in state workers' retirement years.
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