State Capitol Hearing Again Considering Oklahoma Public Pension Overhaul

Oct 29, 2013

A House member who is working to overhaul the state's pension systems is holding another legislative hearing this week to further discuss proposed changes to the retirement plans for various public workers.

State Rep. Randy McDaniel (R-Oklahoma City)
Credit Oklahoma House of Representatives

Oklahoma City Republican state Rep. Randy McDaniel will convene a meeting Tuesday of the House Economic Development and Financial Services Committee to review an analysis of the state's retirement systems.

Among the retirement proposals McDaniel is pushing this year is a plan to move state workers from a traditional pension, or defined benefit plan, to a more 401k-style retirement account, or defined contribution plan. Such a move already has been endorsed by Gov. Mary Fallin and other Republican leaders.

McDaniel also is looking to make some changes to reduce the unfunded liability of the state troopers' pension system.