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Showing posts from July, 2011

CONTRIBUTION CHANGE REMAINS OUT OF FINAL BUDGET BILL; ORSC GOING AHEAD WITH STUDY

(The text below is reprinted from the news release by STRS on 6/30/11.)
The legislative conference committee dealing with the state budget did not include a shift in employer/employee contributions for the five statewide pension systems in its final report issued on Monday, June 27.  The Ohio Senate then passed the budget bill on June 28, followed by passage in the Ohio House of Representatives on June 29. The bill then went to the governor for his signature.

During the budget discussions, STRS Ohio voiced its concern about the change, advocating that any discussion of contributions should be held within the context of the pension reform legislation proposed by the five Ohio statewide public pension systems.  STRS Ohio is grateful for the many STRS Ohio members and constituency groups who also shared this message with members of the Legislature.

Discussions about future pension reform now shift to the Ohio Retirement Study Council (ORSC), the legislative oversight committee…