Sponsors propose actuarial funding, phased employer increases for Ohio Police and Fire Pension Fund

Representative Hall and Representative Abrams urged the Public Insurance and Pensions Committee to support House Bill 280, which they said would return the Ohio Police and Fire Pension Fund to actuarial funding and phase employer contribution increases to shore up long-term solvency.

“It is our legal obligation to fund our pension programs. It is a promise made to public employees and, in this case, first responders,” Representative Hall said in sponsor testimony, arguing that the legislature must act to secure benefits for police and firefighters.

The bill would replace the fund’s current fixed-rate funding with an actuarially determined employer contribution (ADEC) model, sponsors said, and would equalize police employer contributions from 19.5% to 24% within five years. Under the proposal, the board would review actuarial findings every three years and could adjust contribution and cost-of-living…