Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Committee hears broad support for bill to shore up Ohio Police & Fire pension fund
Summary
Witnesses including the OP&F director, police and fire union leaders, retirees and taxpayer advocates told the House Public Insurance and Pensions Committee that House Bill 280 would equalize employer contribution rates, impose a 30-year amortization cap and add actuarial guardrails to protect the fund's solvency and preserve retirement promises.
Ohio's House Public Insurance and Pensions Committee heard hours of proponent testimony on House Bill 280 on April 9, as police, firefighters, retirees and pension officials urged lawmakers to equalize employer contribution rates and impose automatic, actuarially based adjustments to keep the Ohio Police & Fire Pension Fund solvent.
Marybeth Foley, director of the Ohio Police and Fire Pension Fund, told the committee the fund has been structurally underfunded since its 1967 start and that active and retired members have already absorbed roughly $3.2 billion in benefit reductions. She said HB 280 is designed to "balance all the interests" by equalizing employer contribution rates for police and fire, preserving a 30-year amortization cap and giving the board limited authority to make…
Already have an account? Log in
Subscribe to keep reading
Unlock the rest of this article — and every article on Citizen Portal.
- Unlimited articles
- AI-powered breakdowns of topics, speakers, decisions, and budgets
- Instant alerts when your location has a new meeting
- Follow topics and more locations
- 1,000 AI Insights / month, plus AI Chat
