COLUMBUS, Ohio (AP) — A package of bills that shore up
Ohio’s five public pension funds with increased premiums, higher
retirement ages and other changes has cleared the state Legislature.
The
House and Senate passed the bills Wednesday with bipartisan approval.
Gov. John Kasich is expected to sign them into law.
The
bills affect almost 1.8 million Ohioans covered by the five funds.
Those pension funds are the Ohio Public Employee Retirement System,
State Teachers Retirement System, School Employees Retirement System,
Ohio Highway Patrol Retirement System and the Ohio Police and Fire
Pension Fund.
Policymakers, retiree groups, government employers
and others have wrestled over the fixes for four years. Without
adjustments, some of the funds risk insolvency.
Copyright 2012 The Associated Press.
COLUMBUS, Ohio (AP) — A package of bills that shore up
Ohio’s five public pension funds with increased premiums, higher
retirement ages and other changes has cleared the state Legislature.
The
House and Senate passed the bills Wednesday with bipartisan approval.
Gov. John Kasich is expected to sign them into law.
The
bills affect almost 1.8 million Ohioans covered by the five funds.
Those pension funds are the Ohio Public Employee Retirement System,
State Teachers Retirement System, School Employees Retirement System,
Ohio Highway Patrol Retirement System and the Ohio Police and Fire
Pension Fund.
Policymakers, retiree groups, government employers
and others have wrestled over the fixes for four years. Without
adjustments, some of the funds risk insolvency.
Copyright 2012 The Associated Press.