Oklahoma's public retirement systems will reviewed during a legislative study that's planned at the state Capitol.
The House Economic Development and Financial Services Committee will hold the study Wednesday morning as lawmakers conduct their annual review of the financial health of the retirement systems.
Overhauling Oklahoma's pension systems has been a top priority of the state's Republican-controlled Legislature. Lawmakers have taken steps to eliminate the pensions' unfunded liability — which is the amount owed to pensioners beyond what the systems can afford to pay.
Earlier this year, the Legislature created a system in which all newly hired state employees are shifted from the current pension system to a 401(k)-style retirement plan. The bill affects employees hired after Nov. 1, 2015, who are part of the Oklahoma Public Employees Retirement System.
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