The Oklahoma state Senate has advanced a series of bills that could provide the state’s retired public employees with cost of living adjustments (COLAs) between 3% and 6%.
As Oklahoma Voice recently reported, those slated to receive increases include teachers, police officers, firefighters, judges and other public employees. Those who have been retired between 10 years and 20 years stand to receive a 3% COLA, with those retired more than 20 years due to receive a 6% adjustment.
The adjustments were included in a recent $12.8 billion budget deal agreed upon by the Oklahoma state legislature, which last approved COLAs for the state’s public employees in 2020. The adjustments are paid out of the pension systems, not state appropriations, according to Oklahoma Voice.
As the publication’s Emma Murphy noted in a recent piece, the measures that figure to impact COLAs for retired Oklahoma public sector workers include:
- Senate Bill 1145, under which retirees who participate in the Oklahoma Public Employees Retirement System would receive the 3% to 6% COLA The adjustment is expected to cost the pension system about $132 million.
- Senate Bill 1146 would offer the COLA to participants of the Police Pension and Retirement System. This is expected to cost the pension system $56 million.
- Senate Bill 1147 would give the Firefighters Pension and Retirement System the 3% to 6% COLA adjustment and provide a monthly pension to retired volunteer firefighters who retired before Nov. 1. The total cost is estimated to be more than $72 million to the pension system.
These and other bills that would affect Oklahoma public employees’ cost of living adjustments must be approved by the state’s House before being sent to Oklahoma Gov. Kevin Stitt for consideration.
27 April 2026
Category
HR News Article
