Retired public pensioners to get first pay raise in 12 years
May 22, 2020
OKLAHOMA CITY (AP) — Oklahoma Gov. Kevin Stitt on Thursday signed into law a bill giving most retired school teachers, firefighters and other public workers their first pension increase in 12 years.
The bill gives a 4% cost-of-living allowance, or COLA, to about 85% of public retirees. Under the bill's tiered approach, those who retired between two and five years ago would see a 2% boost, while those retired for less than two years receive no increase.
"I told Oklahomans on the campaign trail that I would work to get this across the finish line, and I am delivering on my promise," Stitt s...