In Oklahoma, retirees are expressing their frustration with the lack of pension raises granted by the state legislature. According to a letter written by Gary Rudick, a former Tulsa police officer and former Tulsa Public Schools chief of police, the last pension increase was in 2020, which was a 4% raise. However, this increase has been eroded by an average annual inflation rate of over 5% each year for the past three years. As a result, retirees have seen their pensions decrease by over 15%. Meanwhile, in 2020, legislators gave themselves a 35% increase, further exacerbating the disparity between retirees and lawmakers. Rudick criticizes state leaders for neglecting retirees and urges the public to support different candidates who prioritize pension issues [fe8d91f9].
This perspective sheds light on the challenges faced by retirees in Oklahoma and the impact of stagnant pension raises. It underscores the need for legislative action to address the erosion of retirees' purchasing power and ensure their financial security in retirement.