Tuesday, May 08, 2007

Governor Signs Funding Bill for Teacher Retirement

Retired and active teachers had the pleasure of watching Governor Brad Henry sign Senate Bill 357 by Senator Johnnie Crutchfield (D-Ardomore) and representative Chris Benge (R-Tulsa). The bill will increase the employer contribution rates resulting in the retirement system being 80% funded by 2026.

SB 357 will provide income for the OTRS without taking money from the school lands trust.

On behalf of all those in the system, I want to say "Thank You" to our legislators and Governor Henry for addressing the needs of the system.

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