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Stitt Signs Cost Of Living Adjustment For State Retirees

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Stitt Signs Cost Of Living Adjustment For State Retirees

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For the first time in 12 years, state retirees are set to receive their first cost of living adjustment.

For 15 years, Larry Claypool served the community as a member of the Midwest City Fire Department.

“Firefighters and police officers, we’re people of the community,” Claypool said. “And then getting treated this way, it’s just not proper.”

After hearing about how other first responders were struggling, Claypool decided to join other firefighters and the retirement association to push lawmakers to pass a cost of living adjustment.

“I figured I was fighting a losing battle,” he told KFOR.

Even though he wasn’t sure his efforts would be rewarded, Claypool called his friends, lawmakers, and even went to the Capitol.

Officials say it had been more than a decade since their retirement checks were given a cost of living adjustment. During that same time frame, inflation has jumped by at least 26 percent.

George Fina spent 24 years with the Oklahoma City Fire Department. Over the years, he says he has heard about some of the hardships that the lack of a cost of living adjustment has caused.

After a firefighter was killed in a blaze in 1985, Fina says the man’s widow worked to raise their daughter on her own. In 2018, he learned that her pension check wouldn’t cover their health insurance.

“When somebody gives their life, we ought to hold them here. All these people that are retired, we ought to hold them here because they’ve given their lives to the state,” Fina said.

However, the lack of a cost of living adjustment hasn’t just affected first responders. In fact, it’s a problem that all retired state employees have faced.

Nine years ago, Dixie Jackson retired from the Department of Mental Health and Substance Abuse Services after spending 40 years working for the state.

“Many state employees have had to go find additional jobs to pay for the essentials. That really is not retirement,” Jackson said.

In early March, the Oklahoma House of Representatives unanimously passed House Bill 3350 with a 99-0 vote.

“This day is about our state retirees,” said House Majority Leader Charles McCall.

The bill gives state employees who have been retired two to four years a 2% cost of living adjustment. Those who have been retired five years or longer are entitled to a 4% cost of living adjustment.

“We want to do the best that we can for our state retirees and we don’t want to see our pensions be eroded, go in a negative trajectory. We looked very closely, and my analysis of what was in the actuarial reports, even after this COLA is granted, and it has been too long, but we will still be able to grow our pensions,” McCall said.

Two months later, the Oklahoma Senate finally brought the measure to a vote. The measure passed 41-5.

“Law enforcement retirees have waited more than 12 years for a small increase in the pensions they earned, and it’s fitting for the Legislature to approve this needed measure during national Police Week.” Nelson said. “The strong support in both the House and Senate clearly demonstrates this is a bipartisan, reasonable step which will benefit deserving public servants and protect the funds’ long-term health.”

On Thursday, Gov. Kevin Stitt signed House Bill 3350.

Officials say the cost of living adjustment increase applies to members of the Oklahoma Firefighters Pension and Retirement System, Oklahoma Police Pension and Retirement System, Uniform Retirement System for Justices and Judges, Teachers’ Retirement System of Oklahoma and the Oklahoma Public Employees Retirement System.

“I am proud to support our first responders, teachers and state employees with this needed increase,” said Gov. Stitt. “I told Oklahomans on the campaign trail that I would work to get this across the finish line, and I am delivering on my promise.”

The measure goes into effect immediately.

“We are grateful the governor signed this important, bipartisan measure to improve the lives of retirees while protecting pension funds’ future health,” Sgt. Mark Nelson, vice president of the Oklahoma State Fraternal Order of Police said. “This long-overdue increase demonstrates Oklahomans and their elected officials truly support Oklahoma’s civil servants.”