MuskogeePhoenix.com, Muskogee, OK

Oklahoma News

February 12, 2014

State House committee passes pension changes

OKLAHOMA CITY — An Oklahoma House committee has approved a bill to move newly hired state workers from the current defined-benefit pension into a 401(k)-style retirement system.

The House Economic Development and Financial Services Committee passed the measure Wednesday.

The bill moves new state employees from a defined benefit plan to the 401k style, defined contribution plan being widely used in the private sector.

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