Both parties vote to back Ohio pension changes
COLUMBUS (AP) — Bills aimed at shoring up Ohio’s five public pension systems cleared their last significant legislative hurdle today and are headed to final votes Wednesday.
After four years of debate and revision, the five bills tweaking eligibility requirements and the amount and timing of benefits for each system unanimously cleared the House Health & Aging Committee. A House subcommittee and a monitoring council cleared the bills earlier in the day.
House Health Chairman Lynn Wachtmann noted the orderly crowd and lack of witnesses as bill after bill cleared without discussion. “After three years of challenging times, four years anyway,” he said, “what a crowd.”
Ohio’s pension funds — including two that are among the nation’s largest — are in danger of becoming insolvent without adjustments.