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OK: Institute finds state’s debt large but pension reforms will help

By   /   June 15, 2012  /   No Comments

By Patrick B. McGuigan | CapitolBeatOK

OKLAHOMA CITY — A new and intensely detailed review of the financial “state of the states” places Oklahoma in the lower-middle tier of U.S. states as of fiscal 2010.

Assessment of the state by the Institute for Truth in Accounting is expected to improve in forthcoming assessments, due to significant pension reforms enacted in 2011.

The institute contends that as of fiscal 2010, Oklahoma had retirement liabilities of $16.2 billion that were “not clearly disclosed.”

In the latest analysis, Oklahoma was 32nd among the 50 states, with a burden of $12,600 in debt per taxpayer.

Read the complete story at CapitolBeatOK

 

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