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Fallin Signs Okla. Teacher's Pension Bill (May 09, 2011)

OKLAHOMA CITY (AP) — Legislation to prohibit the officers of education associations from participating in the Oklahoma Teacher's Retirement System has been signed into law by Gov. Mary Fallin.

The bill by Rep. Tom Newell of Seminole was signed on Monday. It will prevent the officers of local, state and national education associations appointed after Jan. 1 from participating in the state's public pension system for teachers.

Critics of the practice say the retirement system was created to provide benefits to public school teachers, administrators and support personnel. They say it is not fair for teachers to accrue benefits after they join private associations that offer their own benefits.

Only seven of the teacher's retirement system's estimated 90,000 members fall into the category. The pension has an estimated unfunded liability of about $10.4 billion.



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