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Showing posts from March, 2010

STRS March Board News Details

(The text below is reprinted from the news release by STRS on 3/22/2010.) PENSION COMMUNITY CONTINUES IN HOLDING PATTERN Though recommendations relative to maintaining long-term solvency were submitted to the Ohio Retirement Study Council (ORSC) from the state's five public plans in September 2009, legislation has yet to be introduced. ORSC staff, however, anticipates having a bill before the council members in April, at which time staff will review the bill and provide its recommendation. A vote by ORSC members regarding their recommendation for passage and/or changes to the bill would then likely take place in May. While formal introduction of a bill and committee hearings in the Ohio House of Representatives could occur this spring, it is more likely that serious discussion on the bill will occur after the November election. IMPACT OF HPA'S PROPOSED PENSION PLAN CHANGES REPORTED AT MARCH MEETING At the February 2010 board meeting, the Healthcare & Pension Advocat

STRS February Board News Details

(The text below is reprinted from the news release by STRS on 2/22/2010.) PENSION LEGISLATION SPONSORSHIP WILL BE BIPARTISAN The five Ohio retirement systems, including STRS Ohio, are still waiting for the Legislative Service Commission to finish its work in drafting the legislation designed to keep the systems financially strong and sustainable for all current and future public employees. During the February meeting of the State Teachers Retirement Board, Executive Director Michael Nehf reported that STRS Ohio has learned that the bill sponsorship will be bipartisan. House Assistant Minority Leader Louis Blessing (R-Cincinnati) has agreed to co-sponsor the legislation with Ohio Retirement Study Council Chair Rep. Todd Book (D-Portsmouth). It is anticipated that once a bill is introduced, hearings may occur this spring; however, voting on a bill is not expected until after the November election. On Capitol Hill in Washington, D.C., the focus of legislators and the president appea