Senate President Tom Niehaus and Senate Minority Leader Eric Kearney announce the bipartisan introduction of four landmark reform bills designed to stabilize Ohio's public employee pension systems. Ohio's five pension systems have conducted mandatory accounting and performance audits that reveal the need for reform.
Four bills reflect the board-approved plans for the Ohio Police and Fire Pension Fund (SB 340), School Employees Retirement System (SB 341), State Teachers Retirement System (SB 342) and Ohio Public Employees Retirement System (SB 343). The bipartisan agreement between Senators Niehaus and Kearney requires introduction of only the plans approved by the pension boards and supported by their respective stakeholders, including the labor unions that represent public employees.
May 8, 2012