Oklahoma Pension Debate Heats Up: Will State Retirees Finally Get Cost-of-Living Raises?

Oklahoma’s public employees retirement system is one of the strongest in the region. OPERS held roughly $15 billion in total assets as of June 30 and sits above 100% funding, a milestone that took years of reforms to reach. But there’s a catch for the people actually drawing checks: while groceries, fuel, and everyday goods have climbed, pension payments have stayed flat. That gap has pushed cost-of-living adjustments, or COLAs, into the middle of the governor’s race.

Republican candidate Mike Mazzei, a former state senator and budget secretary, told The Constitution that regular COLAs are overdue. His plan pairs them with a funding goal, saying adjustments should happen every other year and that getting pension systems to 90% funded makes it possible. He also pledged not to touch the defined benefit system that pays out guaranteed monthly amounts. Meanwhile, House Bill 4050 lowered state agency employer contribution rates from 16.5% to 9.5% through July 2031. The bill leaves employee contributions and retiree benefits unchanged, but it does mean less money flowing in from agencies in the near term.

For Lawton, this isn’t abstract. Fort Sill and the surrounding community are full of retired state workers, teachers, and military families whose household budgets live or die by what shows up on payday. Stay with us as the campaign unfolds, and weigh in on how you think the state should handle it.

What matters more to you: regular cost-of-living increases for retirees, or keeping contribution rates low for agencies?