Fugate emphasized that his vote was not against helping retirees, but against undermining the long‑term stability of the pension system they rely on.
“Retired teachers have received only two COLAs in seventeen years,” Fugate said. “They deserve reliable increases, not a short‑term boost that puts their pensions at risk.”
A Faustian Bargain
Fugate warned that pairing a COLA with reduced TRS contributions is a dangerous trade‑off.
“This is a Faustian bargain,” Fugate said. “It offers short‑term gain and guarantees long‑term pain. It is easy to cut appropriations and nearly impossible to restore them. These cuts will give future lawmakers an excuse to say, ‘We can’t afford another COLA.’ This isn’t a raise. It’s a ‘never again’ plan.”
He added that this approach mirrors the basic Senate plan: defund the Teachers’ Retirement System to pay today’s bills. “We should not balance the budget on the backs of Oklahoma’s retired teachers,” Fugate said. “TRS is doing better because we funded it responsibly. Cutting contributions now puts retirees at risk and breaks faith with the educators who served this state.”
A Call for Sustainable Solutions
Fugate reiterated his support for COLAs when paired with responsible funding.
“I want retired teachers to get COLAs, and I want their pensions to remain secure,” Fugate said. “We can do both, but only if we continue to fund both. Oklahomans deserve honest budgeting.”
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