Okla. House panel talks pension changes
Tue, 29 Oct 2013 14:52:28 GMT —
OKLAHOMA CITY (AP) - A House member who is working to overhaul the state's pension systems is holding another legislative hearing this week to further discusse proposed changes to the retirement plans for various public workers.
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.
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