Analysis describes Ohio's public pensions as solid
Photographer: AP Graphics Bank
Posted: 07/10/2012
COLUMBUS, Ohio - An independent study on the fiscal health of Ohio's five public retirement funds says they are structurally solid but could be improved by legislative action.
The report conducted for the Ohio Retirement Study Commission was released Tuesday. The panel was to review it Wednesday.
The Ohio Senate has passed a package of bills aimed at shoring up the funds. Ohio House leaders delayed action on the measures while waiting for Tuesday's report. The pending bills include requests by the funds to raise premiums, lower payouts and tighten eligibility requirements for affected teachers, police and other public workers in order to keep funds serving 1.7 million Ohioans solvent.
The study said additional adjustments might be needed.
Analysts supported the continuation of the defined benefit plans for public employees.
Copyright 2012 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.
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