Friday, March 11, 2011

McDaniel Cheers Truth In Funding Act, Says Structural Pension Problems Remain

By Patrick B. McGuigan/CapitolBeatOK ~ State Rep. Randy McDaniel, an Oklahoma City Republican, has pressed for several major pension reform measures in the current legislative session.

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Rep. Randy McDaniel
In wake of news reports that several measures have been withdrawn from the legislative calendar -- and that a task force will study pension policy issues for the next several months – CapitolBeatOK resubmitted a series of questions to McDaniel and other state leaders who have expressed concern with pension reform.

McDaniel responded via email this evening (Thursday, March 10), telling CapitolBeatOK, “The Truth in Funding Act [House Bill 2132] is one of the most significant pension reform acts in the country. Oklahoma’s unfunded liability is over $16 billion. If this act is passed this session, Oklahoma’s unfunded liability will decrease by roughly $5 billion."

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