Senate Democratic Leader speaks on Republicans delaying COLA adjustment

Senate Democratic Leader Kay Floyd (D-Oklahoma City) released the following statement after Senate Republicans voted to delay a cost of living adjustment for retirees:

“It is very disappointing that the majority voted to delay a cost of living adjustment for our retirees.  Legislation to provide a much-deserved 4 percent cost of living adjustment (COLA) to retired public employees, including teachers, firefighters, police officers, and state workers, passed in the House of Representatives with overwhelming bipartisan support. These Oklahomans have dedicated their lives to serving the public and it has been too long since they have had a cost of living increase.

Instead of allowing the Senate to vote on this legislation, the majority decided to appoint a partisan pension working group, which recommended cutting the COLA to 2 percent. Now the majority has delayed a vote on the COLA until at least next year. Our retirees have waited long enough. The Senate Democrats believe we should be working together to pass legislation that will fund a COLA while protecting the long-term fiscal health of our pension systems.”