Executive director booted by Trustees of retirement system.
The executive director of the Oklahoma Teachers Retirement System was fired after trustees found out he granted severance packages to a dozen employees without obtaining the required approval.
Trustees of the retirement system voted to fire James Wilbanks recently.
The Oklahoman reported Monday (http://bit.ly/GNNoq7 ) that decision comes after trustees found out Wilbanks granted severance packages to a dozen employees without obtaining required approval from the director of the state Office of Management and Enterprise Services.
Wilbanks told The Oklahoman that he was unaware of the legal requirement for approval when he signed off on the severance agreements.
Twelve unclassified employees of the state Teachers Retirement System have been granted severance packages totaling more than $300,000 since Wilbanks became executive director in January 2009.