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OPERS tells committee pension fund is 83% funded; health fund tops $13 billion
Summary
Karen Caraher, executive director of the Ohio Public Employees Retirement System, told the House Public Insurance and Pensions Committee OPERS’ pension fund is 83% funded with a 16‑year amortization period and said the system’s health‑care trust balances about $13 billion, while emphasizing health benefits remain discretionary.
Karen Caraher, executive director of the Ohio Public Employees Retirement System, told the House Public Insurance and Pensions Committee that OPERS’ pension fund is 83% funded and has a 16‑year amortization period, under the 30‑year statutory threshold. "We're 83% funded," Caraher said as she summarized OPERS’ funding position and how the pension and health‑care trusts are managed.
Caraher explained OPERS operates two separate trusts: a pension trust (where member money is fully refundable and funds retirement benefits) and a health‑care trust that she described as "one of the largest in the United States. It sits at $13,000,000,000." She told…
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