(The Center Square) – Oklahoma state Rep. Sean Roberts is drafting a bill that would give retirees collecting state pensions a cost-of-living adjustment.
The raises would apply to the Oklahoma Firefighters Pension and Retirement System, the Oklahoma Police Pension and Retirement System, the Uniform Retirement System for Justices and Judges, the Teachers' Retirement System of Oklahoma, the Oklahoma Public Employees Retirement System and the Oklahoma Law Enforcement Retirement System, according to a news release.
Oklahoma’s general fund revenues are up, which should provide funding for the raises, according to Taylor Woodrum, legislative assistant for the Oklahoma House.
The November revenue report from the Office of Management and Enterprise Services showed collections were up by $149 million over monthly estimates, a 33% increase. Total collections for the first five months of fiscal year 2022 were 17.3% above estimates, according to the report.
The amount of the adjustment is still being decided, Woodrum said.
The raise is needed because of policies enacted by the Biden administration, Roberts, R-Hominy, said in the news release.
"We are seeing the result of these un-American policies at the gas pump, at the grocery store, in our supply chain issues and in basically every facet of our daily life,” Roberts said. "Since the federal government is failing to protect our citizens from Biden-flation, it is incumbent on the legislature to do what we can to protect Oklahomans from the harmful effects of these policies."
Lawmakers have until Jan. 20 to file bills and resolutions for consideration before the next legislative session begins Feb. 7.