Kevin Kroskey's Ohio Faculty Advisor

(The text below is reprinted from the news release by STRS on 4/15/11.) STATUS OF PENSION LEGISLATION - STILL AWAITING SUBSTITUTE BILLS; REEMPLOYED RETIREES ADDRESSED IN NEW SEPARATE BILL On Feb. 1, House Bill 69, sponsored by Rep. Lynn Wachtmann, and Senate Bill 3, sponsored by Sen. Keith Faber, were introduced as the vehicles to carry the changes being proposed by the five statewide public pension plans (including STRS Ohio) to strengthen the solvency of their respective pension funds. H.B. 69 was assigned to the Health and Aging Subcommittee on Retirement and Pensions, which is chaired by Rep. Kirk Schuring. The committee held a number of hearings; however, the last four scheduled meetings were cancelled in late March and early April. Schuring, Rep. Lynn Wachtmann and Sen. Keith Faber are working on language for a substitute pension reform bill. STRS Ohio will let members know when this revised bill is presented. Other recent events at the Statehouse include the following: -