Over the summer, members of the House worked diligently to enact needed reforms to the state’s five public pension systems. Nearly 1.7 million Ohioans depend on these pension plans for their retirement benefits and services, and the system as it was currently constructed was insolvent, leading down a path that was unsustainable and would not have supported the state’s public employees.
Dozens of committee hearings were held to give every person affected by or interested in reforming the system to voice their ideas. Each of the five bills received nine committee hearings by the House Retirement and Pensions Subcommittee, followed by two hearings in the House Health and Aging Committee.
The issue of pensions impacts a large number of states across the country, including Ohio. But I believe the reforms passed by the House and Senate effectively addressed the problem.
It was a clear example of bipartisanship. Both sides of the aisle worked together, offering their unique suggestions and concerns. That cooperation was demonstrated by the overwhelming support the bills received on the House floor. In fact, all but one of the five pieces of legislation passed unanimously.
Among other things, the bills ask public employees to contribute more to their retirement. Additionally, they institute cautious oversight from the bipartisan Ohio Retirement Study Committee, as opposed to allowing the individual elections boards the authority to change pension requirement and benefits immediately. The ORSC was extremely helpful to the members of the House in crafting these five bills, and I fully support their involvement moving forward.
After hearing testimony from more than 25 stakeholders from all over the state, we agreed on a plan that earned the support and thanks from all five of the public pension systems. Not all of the decisions were easy, but they were necessary in order to save Ohio’s public pension systems.
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