Teacher pension funds liability grew slightly in past year
BY MICHAEL MCNUTT NewsOK.com
Thursday, November 29, 2012
11/29/12 at 4:52 AM
OKLAHOMA CITY - The unfunded liability of the retirement fund for Oklahoma public school teachers, which just two years ago was one of the most underfunded plans of its type in the nation, increased slightly in the past year.
But the Oklahoma Teachers Retirement System still is on target to eliminate its unfunded liability in 22 years, according to a report presented Wednesday to the system's board of trustees.
"We're still on the path towards 100 percent funded," said James Wilbanks, executive director of the state agency. "We are on the right path. We're moving towards a fully-funded status."
The increase in the system's unfunded status from $7.6 billion to $8.4 billion, as of June 30, is based on investment losses incurred during the stock market downturn in 2008, he said.
Original Print Headline: Retirement fund for teachers still far short of target
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