The Shortfalls of Oklahoma’s Defined Benefit Public Pension Plans

November 19, 2014

Tulsa Pension System Is Underestimating Its Debt and Investment Risk by Millions

Substantive, structural reform to the way Tulsa offers retirement benefits to its city employees is necessary in the immediate future in order to prevent these fiscal challenges from overwhelming the city budget and weighing down heavily on Tulsa taxpayers.

Tulsa_Actuarial_Analysis.pdf
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August 13, 2014

Expectations of future policy changes, including tax increases and reduced government services, can affect the business climate and labor market within a state. Unfunded public pension liabilities represent a significant source of concern, especially given the guaranteed nature of pension benefits to retirees. Current government statistics obfuscate the underfunding of public pensions. A proper accounting of public pension liabilities shows an increased risk of tax increases and reduced government services. Unfunded public pension obligations are not the only source of such policy changes, but they remain a significant threat to the states’ fiscal health and therefore to the business climate and labor markets within the states. Due to ongoing changes in state pension programs, a slow but continuing economic recovery, and the advent of new accounting rules, this underscores the need for wide-ranging pension reform that assures proper funding of pensions well into the future.

Robert Sarvis - Understanding Public Pen[...]
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March 20, 2014

Across the country, unfunded public pension liabilities are the single largest threat to the stability and solvency of state and municipal governments. According to 2013 valuations, Oklahoma’s six active defined benefit plans, plus the Wildlife Conservation Retirement Plan, which was recently closed to new members, carry an $11.4 billion unfunded liability. They have a combined funded ratio of 66.5 percent. This unfunded liability exceeds the state-appropriated budget by 52 percent. A more accurate accounting suggests that the problem is actually more serious—Oklahoma’s public pension systems have a $43.7 billion unfunded liability. Fortunately, there is a solution that allows Oklahoma to keep its promises to current employees and retirees, protect taxpayers and communities, and ensure long-term fiscal health. The state should close its defined benefit pension systems to new members and instead institute a defined contribution (DC) alternative. A DC plan would give new employees a secure retirement.

Oklahoma's Unfunded Pension Liability.pd[...]
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Get in Touch With Me.

Call me at 405 810-8119 with any questions or to schedule an appointment.

 

Greg Karnes CPA

4301 NW 63rd St, Suite 200

Oklahoma City, OK 73116-1504

 

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Regretfully, I am unable to accept new clients who have unfiled prior-year’s tax returns,  who are not current with all prior tax obligations, are involved in any marijuana-related business ventures, have any income from gambling, are personal-injury attorneys or copyright or patent trolls.

 

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??? Not sure I’d take their approach but not to sure I understand any of the nonsense the Democrats have come up with lately.

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Just one miss ?. Using the @volquartsen_firearms 22 LR Scorpion ?

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ODELL BECKHAM JR.

NOVEMBER 23, 2014

GREATEST CATCH EVER ??

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OU SOONER - SAMAJE PERINE

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Top 10

Taxpayer Enemies

 

Those Individuals Or Groups Most Intent On Penalizing Success & Achievement & Desiring A Return To The Low Growth Jimmy Carter/Barry Obama Era

 

(in order, as of today)

The Caracas Caucus

 

(the Top 10 “Americans” who seem most hell-bent on destroying our jobs & economy in order to advance the cause of centralized government control over our lives and private businesses)

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??

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The Terrorist Caucus

 

Those Individuals Or Groups Who

Come Across As Ambivalent Towards Islamic

Terror Activities

LOWER TAXES

=

HIGHER GOVERNMENT REVENUE

Why does the OKC Mayor refuse to answer this simple question? Is she hiding something?