Legislation will have an affect on public workers

Mar. 9, 2011, Bucyrus Telegraph-Forum

BY JESSICA ALAIMO

CentralOhio.com

Overshadowed by the furor over proposed changes in collective bargaining laws, a small group of legislators is working on a measure that also could have a profound impact on Ohio’s public employees.

A House subcommittee is considering major changes to Ohio’s five public pension systems. Among the ideas:

❚ Increasing employee contributions.

❚ Increasing the minimum years of service and age required for a full pension.

❚ Adjusting computations for final average salary, using five highest years instead of three.

Three of Ohio’s five public pension funds lack the assets to cover 30 years of liabilities, as required by state law. If they don’t fix that, the systems must present a plan to the Legislature to bring funding back in line.