Welcome to the latest edition of This Week in Pensions. This week, Oklahoma’s governor’s race put a familiar pension opponent back in the spotlight, California public workers stood up for fair treatment, and Washington workers called for greater accountability over their retirement investments. Here are the stories we’re following in the fight for retirement security.
NPPC Highlight
Alaska’s fight for retirement security continues. Public workers and pension advocates remain committed to restoring defined benefit pensions that support secure retirements and keep experienced employees in their communities.
Read more about their continued fight in our latest blog.
State News
Oklahoma: Mazzei’s Campaign Promises Deserve Scrutiny Against His Pension Record
Republican gubernatorial nominee Mike Mazzei outlined his plans for Oklahoma in a News 9 interview published this week. His priorities include eliminating the state income tax, changing education policy, and reducing government spending.
For public workers, those promises must be considered alongside his pension record. Mazzei was the principal Senate author of legislation raising the normal retirement age for new teachers from 62 to 65. He also supported moving many eligible new state employees out of the traditional pension system and into the 401(k)-style Pathfinder plan, and helped advance restrictions that created another hurdle for retiree cost-of-living adjustments. These changes made workers wait longer or shoulder more responsibility for their retirement security.
His campaign now pledges to support regular COLAs and protect defined benefit plans, specifically naming police, firefighters, and law enforcement. Those commitments warrant close scrutiny, including what protections he would extend to teachers and other public employees.
NPPC has worked to inform Oklahoma public workers about Mazzei’s record, and we will continue to do so into the coming year. As the election approaches and the 2027 legislative session takes shape, we will monitor his proposals, challenge efforts to weaken pensions, and work with our Oklahoma partners to defend the retirement security public employees have earned.
California Workers Stand Up for Fair Pay and Working Conditions
California state workers held a one-day strike Wednesday after months of contentious negotiations with Gov. Gavin Newsom’s administration. SEIU Local 1000, which represents about 100,000 workers, is seeking better pay, affordable healthcare, and more flexibility to work from home after its contract expired on June 30.
Reports say frustration extends beyond the current negotiations. Newsom demanded wage cuts to balance California’s budget in three of his eight years as governor, effectively wiping out workers’ last 3% salary increase. His return-to-office mandate has added another point of contention.
The state labor board found that the administration’s bargaining agency refused to negotiate in good faith and rejected its attempt to block the strike. Mediation is scheduled for October 30.
Public workers keep essential services running. Repeated sacrifices to balance budgets undermine those employees’ financial security and the state’s ability to sustain its workforce.
Washington Workers Question Pension Investments in Palantir
More than 100 protesters marched to Palantir’s Seattle office Monday, calling on Washington to divest pension investments from the technology company over its ties to the Israeli military, according to The Seattle Times.
Washington State Investment Board holdings in Palantir totaled approximately $158 million as of March 30, more than double the amount reported for December 2024. The board said it holds almost all of its Palantir investments through passive equity strategies that track broader stock indexes. Participants included pension beneficiaries and members of an American Federation of Teachers local that approved a resolution supporting divestment.
The protest highlights workers’ interest in how their retirement funds are invested and whether those investments reflect their concerns. Transparent pension governance allows beneficiaries to raise those questions while trustees evaluate investment risks and fulfill their responsibility to protect retirement benefits.
Be sure to check back next Friday for the latest news in the fight for a secure retirement! For now, sign up for NPPC News Clips to receive daily pension news from across the country directly to your inbox.