On Capitol Hill
Next round of COVID-19 relief legislation not expected soon
In Washington, D.C., publications that cover the politics and action taking place in and around Congress and the administration are reporting that any potential next round of coronavirus-related relief legislation likely won’t happen until after July 4. As noted in a previous report, to date, Congress has passed four bills and appropriated trillions of dollars to aid various sectors of the economy hit hard financially due to the virus.
Speculation has been for some time that a bill focused on helping state and local governments would be next, but some in Congress have been hesitant to proceed until they see that funds in some of the early relief measures had been allocated by governors and state legislatures. Much of the early funding directed at the states was targeted at health care and directly fighting the spread of the virus. The next phase reportedly will be aimed at helping state and local governments shore up their hard-hit budgets. Thus far, the bills that have passed have not impacted STRS Ohio. Staff will continue to monitor and report on any forthcoming legislation for any effects on public retirement systems.
At the Statehouse
Ohio Retirement Study Council reschedules June meeting
The June meeting of the Ohio Retirement Study Council (ORSC) is now scheduled for June 18 at 10 a.m. There are a few items on the Council’s agenda that pertain to STRS Ohio, including the system’s proposed fiscal 2021 budgets, administrative rules the Retirement Board approved in February and the system’s response to questions posed by Council member, Rep. Jack Cera (D–Bellaire) following the Feb.13, 2020, ORSC meeting. We will provide a full update on the June meeting in our August report.
View a report from the National Association of State Retirement Administrators (NASRA) on reforms to public pension plans in progress around the country. We will include this report monthly as part of the Legislative News.