Lawmakers Delay Pension Board Reform
OKLAHOMA CITY (AP) - Late timing and skepticism among legislators have pushed into next year an effort by Oklahoma Gov. Mary Fallin and Treasurer Ken Miller to consolidate the state's pension boards.
The plan would combine the administration boards of Oklahoma's seven pension systems, which cover more than 200,000 teachers, judges, police and other employees and retirees. The pensions' funds would be kept separate. The governor says the change would save millions of dollars.
Legislators on both sides of the aisle have balked at bringing up such a large issue in the session's final weeks. Republican Finance Committee chairman Sen. Mike Mazzei says the plan's savings also have been overblown. The treasurer says an interim study in pension reform could come this summer and the proposal could resurface next year.