Big changes are ahead for nearly 1.8 million workers, retirees and family members covered by Ohio's five public pension funds.
State lawmakers cleared a package of bills this week aimed at shoring up the systems' finances and keeping them solvent. The result is adjustments to benefits, premiums and eligibility requirements, including in some cases the age and service levels at which participants will be eligible to retire.
A package of bills that shore up Ohio's five public pension funds with increased premiums, higher retirement ages and other changes is set to clear the Ohio Legislature.
The Ohio House and Senate plan floor votes on the proposals Wednesday.
Changes will affect some 1.7 million retirees and future retirees and their families who are covered by the five funds. Those are the Ohio Public Employee Retirement System, State Teachers Retirement System, School Employees Retirement System, Ohio Highway Patrol Retirement System and the Ohio Police and Fire Pension Fund.