COLUMBUS, Ohio (AP) - A package of bills that shore up Ohio's five public pension funds with increased premiums, higher retirement ages and other changes has cleared the state Legislature.
The House and Senate passed the bills yesterday with bipartisan support. Governor John Kasich (KAY'-sik) is expected to sign them into law.
The bills affect almost 1.8 million Ohioans covered by the five funds. Those pension funds 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.
Policymakers, retiree groups, government employers and others have wrestled over the fixes for four years. Without adjustments, some of the funds risk insolvency.