OP&F News

ORSC defers action on HB 512 analysis

The Ohio Retirement Study Council (ORSC) today deferred action on the staff recommendation for House Bill 512 due to “too many unanswered questions.” Suggestions from ORSC staff include that wage contributions by police officers and firefighters to fund their retirements be increased, that they be required to work longer or be older in order to retire.

OP&F applauds the council for seeking additional information on this important legislation. The purpose of House Bill 512 is to ask the General Assembly to place both OP&F fire and police employer contribution rates in parity with the Highway Patrol Retirement System rates, the only comparable law enforcement public pension system in Ohio. By so doing, the General Assembly would be addressing funding shortfalls predicted by financial and actuarial experts and also avoid the burden being carried by the state’s police officers and firefighters. Since the 2012 pension reforms, OP&F members have sacrificed $3.2 billion in benefits. Employers have not seen a change in contribution rates since 1986.

ORSC Chair Phil Plummer explained his motion to defer the decision by stating “We do not want to cut your benefits.” Chair Plummer, a former Sheriff and 30-year law enforcement veteran, also acknowledged that “we all got into these professions knowing we took less pay, we worked hard, but at the end of the day we’d have good retirements and benefits.”

During the presentation of the staff recommendation, several statements were made that require correction.

  • ORSC staff gave the impression that OP&F is out of compliance with the 30-year funding requirement. Since 2015, OP&F has been in compliance with the 30-year requirement.
  • Ohio law requires OP&F to deliver a plan to the ORSC if it exceeds the 30-year funding requirement. Because it is anticipated that an actuarial report due November 1 of this year will find that OP&F will exceed the 30 year requirement, OP&F sounded the alarm and Sponsors Brian Baldridge and Cindy Abrams sponsored this legislation to avoid additional cuts for public safety. We look forward to continuing to work with our employer partners on solutions to address their concerns.

Posted 6/09/2022

Other News

ORSC defers action on HB 512 analysis
- Posted June 09, 2022
OP&F letter to ORSC regarding HB 512 analysis
- Posted June 09, 2022
Aon rebranding to Alight Retiree Health Solutions
- Posted May 16, 2022
ORSC: OP&F outperformed own benchmarks and peers in 2021
- Posted May 13, 2022
Members Report Spring Newsletter Now Available
- Posted May 06, 2022
OP&F Investment notes, April 2022
- Posted April 28, 2022
OP&F Investment notes, March 2022
- Posted March 31, 2022
Russian divestment update
- Posted April 28, 2022
OP&F Investment notes, January 2022
- Posted January 27, 2022
Testimony provided for HB 512
- Posted April 04, 2022
Members Report Winter Newsletter Now Available
- Posted January 24, 2022
Helpful tips for printing your 1099-R
- Posted January 21, 2022
2022 Direct deposit dates for benefit payments
- Posted January 03, 2022
OP&F recommends five-year pilot program to help first responders with posttraumatic stress
- Posted December 16, 2021
Aon to host webinars on Health Reimbursement Arrangement
- Posted December 07, 2021
OP&F pre-Medicare retirees county listings
- Posted December 02, 2021
OP&F helps introduce Public Safety Pension Modernization Act - House Bill 512
- Posted December 02, 2021
OP&F investment notes, December 2021
- Posted December 02, 2021
Pre-65 Members in the OPEN HRA: Solidarity Health providing ACA approved plans for this open enrollment
- Posted November 19, 2021
IRS Delays New Form W-4P until 2023
- Posted November 17, 2021
Member’s Report Fall Newsletter now available
- Posted November 03, 2021
Funding status improves according to independent actuarial report
- Posted November 01, 2021
OP&F Investment notes, October 2021
- Posted October 28, 2021
OP&F’s continued efforts for members on HELPS Act exclusion
- Posted October 22, 2021
OP&F investment notes, September 2021
- Posted October 04, 2021
OP&F Pre-Retirement Webinars 2021
- Posted October 08, 2021
Health care webinars Sept. 15-24
- Posted September 13, 2021
OP&F hosts flag raising ceremony on 9/11 anniversary
- Posted September 07, 2021
OP&F investment notes, August 2021
- Posted August 26, 2021
Danish named General Counsel for OP&F
- Posted August 18, 2021
Member’s Report Summer Newsletter now available
- Posted July 29, 2021
2020 financial reports now available
- Posted July 01, 2021
OP&F investment notes, June 2021
- Posted July 01, 2021
OP&F Names Foley Executive Director
- Posted June 30, 2021