Oklahoma governor has plan for pension system changes

Oklahoma Treasurer Ken Miller defends Gov. Mary Fallin’s veto this year of a pension bill that the governor says was merely window dressing.

By Michael McNutt     Published: June 10, 2013

Most new state employees would no longer be included in Oklahoma’s traditional pension retirement plan under a proposal to be pushed next year by the governor.

Gov. Mary Fallin vetoed a bill this year that would have given new employees the choice of opting out of the traditional pension program in favor of a defined contributions plan.

She felt the voluntary opt-out did not go far enough to improve the fiscal condition of the state’s pensions.

“I didn’t think it would have an impact on the system because it’s voluntary,” Fallin said. “I thought they were making political statements more than being serious about pension reform. If we’re going to do pension reform we need to do truly pension reform and not make it voluntary and make it kind of window dressing.”

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