Headlines 17 May 2012

Ohio Senate passes reform measures on public pensions

By
-

The Ohio Senate has approved a number of reform measures for four of the five state public pension systems.

According to a report in The Plain Dealer, www.cleveland.com, The bills would increase contribution amounts for members of the State Teachers Retirement System, from 10 percent of members’ salary to 14 percent, and for members of the Ohio Police and Fire Pension Fund, from 10 percent to 12.25 percent. Increases would be phased in gradually over the next several years.

Contributions would not increase for members of the Public Employees Retirement System or the School Employees Retirement System, the newspaper said.

“We know the changes are not popular, but they are necessary,” said Senate President Tom Niehaus, R-New Richmond, told the newspaper.

Niehaus said legislation to address the Ohio Highway Patrol Retirement System, is expected to be considered next week. 

The bill nows moves to the House of Representatives.

[[In-content Ad]]

Add new comment

This is not for publication.
This is not for publication.
About text formats

Plain text

  • No HTML tags allowed.
  • Lines and paragraphs break automatically.
  • Web page addresses and email addresses turn into links automatically.
Article comments are not posted immediately to the Web site. Each submission must be approved by the Web site editor, who may edit content for appropriateness. There may be a delay of 24-48 hours for any submission while the web site editor reviews and approves it. Note: All information on this form is required. Your telephone number and email address is for our use only, and will not be attached to your comment.
CAPTCHA This question is for testing whether or not you are a human visitor and to prevent automated spam submissions. Image CAPTCHA
Enter the characters shown in the image.