Senator Urges Retirement Funding

By  | 

01-26-07 A Durant Senator wants to give the underfunded teachers' retirement system a 70 million dollar boost. Democrat Jay Paul Gumm wants to direct the unused money from the 2006 legislative session into the retirement system.

About 140 million dollars in spillover money was left over after last year's budget, Gumm said.

Estimates show the teachers' retirement system has an unfunded liability of more than seven billion dollars.