This morning, the Oklahoma House of Representatives unanimously passed House Bill 3350, a cost-of-living adjustment for public sector retirees.
OEA President Alicia Priest responds
“We are thankful for the House unanimously passing HB 3350 today, which will give education retirees their first cost-of-living adjustment in 12 years. We are especially thankful for Rep. Avery Frix, who has led the charge for this COLA and provided tireless leadership to help our retirees. The OEA has pushed for a COLA for several years, and we’re happy it’s finally becoming a reality. When we keep our promises to retirees, we strengthen our teacher pipeline and educators know they can count on Oklahoma after giving a lifetime to educating our children. Now we encourage the Senate to work quickly to pass this bill and send it on to the governor for his signature.”
Key things to know about this bill
- The raise will be 2% for those retired two to five years, and 4% for anyone retired longer. The length of retirement is calculated as of July 1, 2020.
- What, if anything, will be given to folks who have retired within the past year two years is still being ironed out.
- This is an increase in pension payments. It’s not a one-time stipend, like two years ago.