[Emeritiassoc] STRS pension reform

[Edward Baum]

A little over two years ago STRS and the other four public service 
pension systems proposed changes that would shore up the finances of the 
systems.

The Ohio Senate is now taking the lead on addressing this much delayed 
legislative business.According to the Healthcare and Pension Advocates 
(HPA), the STRS system's bill is being drafted in the LSC (Legislative 
Services Commission).Language for the OPERS and the other three systems' 
bills is also being generated.The STRS bill could be introduced in the 
as soon as May 7-11, with hearings May 14-18. A Senate vote on the bills 
of all five systems could take place at the close of that same interval 
(May 14-18).Co-sponsors will be Sen. Niehaus and Sen. Kearney.As noted 
by The /Akron Beacon Journal/ (April 25, 2012), "The pension systems 
want to manage better their financial positions.They have proposed as 
much.Now lawmakers must get out of the way by giving their approval, 
allowing the systems to get busy on the task."

Now is the time to contact your state senator, urging both support and 
rapid action.

(The above information was provided by Dick Hill, a member of the Ohio 
Council of Higher Education Retirees [OCHER]).

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