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OPERS supports portability reforms in House Bill 424 to ease transfers among Ohio retirement systems
Summary
House Bill 424 would remove obstacles to fair intersystem transfers of service credit; OPERS’ executive director told the committee the bill would restore equity among Ohio’s retirement systems by removing an active-service restriction and improving portability for members who change systems.
At the committee’s next item, Karen Caraher returned to provide OPERS’ support for House Bill 424, which would amend intersystem-transfer rules to improve portability among Ohio’s retirement systems and the Cincinnati Retirement System.
Caraher described the background of transfer rules dating to the 1950s and changes made in 2014 that created asymmetries among systems; she said the active-service restriction in Ohio Police and Fire (OPNF) law…
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