Originally posted June 29, 2009

Retirement Systems Respond to Governor’s Funding Proposal

On June 19, Gov. Ted Strickland proposed that the state’s contribution to public employee pensions be reduced from 14 percent to 8 percent for two years, with a payback to the Ohio Public Employees Retirement System of Ohio (OPERS) to occur over the subsequent 10 years. This proposal was made as a way to help balance the state’s budget. While this proposal does NOT apply to STRS Ohio or the other public pension systems in the state, the executive directors of STRS Ohio, School Employees Retirement System of Ohio (SERS) and the Highway Patrol Retirement System sent a joint letter to the governor and the members of the Ohio General Assembly on June 26, voicing their opposition to such an action. Click here to view a PDF of the letter.