Stillwater News Press

Breaking News

Letters to the Editor

February 22, 2014

LETTER: Hands off those pension funds

STILLWATER, Okla. — Daisy Lawler


To the editor:

Oklahoma politicians are taking a page out of Rhode Island’s playbook to “reform” the Oklahoma public pensions.

Rhode Island’s state treasurer’s reforms led to small returns on investments while tens of millions of fees were paid to Wall Street.

The state treasurer has control of all the pension funds. Is that where Oklahoma is headed?

Oklahoma Policy Institute said the pension crisis is over.

The reforms have worked for Oklahoma’s public pension systems.

Oklahoma Teacher Retirement system was honored a top public fund nationwide 16.3 percent return on investments of the $11.6 billion out-paces all other state funds and on track to be fully funded in 17 years if there is no change.

Oklahoma Public Employees Retirement is 87 percent funded.

Diverting funds from OPERS as in HB2630 and SB2120 will weaken the system.

Politicians will tell you that it only affects new hires.

You do the math. Public employees retire yearly, yet very little new money will be funding the system if these bills pass.

State Auditor and Inspector Gary Jones said, “A small change in the return on investments and we could increase the unfunded liabilities.”

Forbes about defined the benefit system: “They beat the pants off the 401(K) plans when it comes to performance.”


Text Only | Photo Reprints
Letters to the Editor
Buy & Share Photos
NewsPress e-Edition
NewsPress Specials
AP Video
Rodents Rampant in Gardens Around Louvre House to Vote on Slimmed-down Bill for Border Looming Demand Could Undercut Flight Safety Raw: 2 Shells Hit Fuel Tank at Gaza Power Plant Raw: Massive Explosions From Airstrikes in Gaza Giant Ketchup Bottle Water Tower Up for Sale Easier Nuclear Construction Promises Fall Short Kerry: Humanitarian Cease-fire Efforts Continue Raw: Corruption Trial Begins for Former Va Gov. The Carbon Trap: US Exports Global Warming UN Security Council Calls for Gaza Cease-fire Traditional African Dishes Teach Healthy Eating 13 Struck by Lightning on Calif. Beach Baseball Hall of Famers Inducted Israel, Hamas Trade Fire Despite Truce in Gaza Italy's Nibali Set to Win First Tour De France Raw: Shipwrecked Concordia Completes Last Voyage Raw: Sea Turtle Hatchlings Emerge From Nest Raw: Massive Dust Storm Covers Phoenix 12-hour Cease-fire in Gaza Fighting Begins
NDN Video
'Hunger Games: Mockingjay Part 1' Sneak Peek NOW TRENDING: Peyton Manning dancing at practice Golden Sisters on '50 Shades' trailer: 'Look At That Chest!' Chapter Two: Designing for Naomi Watts "The Bachelorette" Makes Her Decision Thieves pick the wrong gas station to rob Staten Island Man's Emotional Dunk Over NYPD Car - @TheBuzzeronFOX GMA: Dog passes out from excitment to see owner Baseball Hall of Famers Inducted Florida Keys Webcam Captures Turtles Hatching Morgan Freeman Sucks Down Helium on 'Tonight Show' Robin Wright Can Dance! (WATCH) She's Back! See Paris Hilton's New Carl's Jr. Ad Big Weekend For Atlanta Braves In Cooperstown - @TheBuzzeronFox Chapter Two: Becoming a first-time director What's Got Jack Black Freaking Out at Comic-Con? Doctors Remove 232 Teeth From Teen's Mouth Bradley Cooper Explains His Voice in 'Guardians of the Galaxy' Deja vu: Another NYPD officer choke-holding a suspect 'Fifty Shades of Grey': Watch the Super Sexy First Trailer Now!
Must Read