State Chamber Welcomes Good News on State's Pension System

Smaller unfunded liability shows reforms are working

Oklahoma City (November 12, 2014) – State Chamber of Oklahoma Senior Vice President of Government Affairs Jonathan Buxton released the following statement following news that the state’s unfunded pension liability is under $10-billion for the first time in a decade:

“While it’s good news to see the state’s unfunded liability far below the $16-billion dollar level it once reached, it’s important to remember that the current liability still exceeds the amount the legislature appropriates every year. We have only just started down the path to solvency and work must continue on reforms that ensure the state is never in the same predicament again. State Representative Randy McDaniel deserves praise for his tenacity in finding solutions that provide structural improvements. Senator Rick Brinkley helped shepherd the bill through the Senate and Senate President Pro Tem Brian Bingman, House Speaker Jeff Hickman and Governor Mary Fallin deserve credit for making the issue central to their legislative agendas.”

###