OKLAHOMA CITY (AP) — A bill designed to shore up the unfunded liability of the Oklahoma's pension system for firefighters has sailed through the state Senate.
The full Senate voted 43-0 Tuesday for the bill that makes several major changes to the Oklahoma Firefighters Pension and Retirement system. It now heads to the House.
Among the key changes for newly hired firefighters is that to become eligible for retirement benefits, they must be at least 50 years old and have worked for 22 years, instead of the current 20 years. New firefighters also would not become vested until they've worked for 11 years, instead of the current 10 years.
The bill also increases the amount that firefighters, municipalities and the state pay into the system each year.
House Bill 2078: http://bit.ly/Z9w0gN