Senate President Niehaus and Minority Leader Kearney Joint Statement On Pension System Actuarial Report

 COLUMBUS--Senate President Tom Niehaus (R-New Richmond) and Minority Leader Eric H. Kearney (D-Cincinnati) issued the following statement today in response to a study commissioned by the Ohio Retirement Study Council. The independent analysis of Ohio's public pension system was conducted by Pension Trustee Advisors and KMS Actuaries: 

"We are please the independent actuarial study agrees with the Senate's unprecedented bipartisan effort to stabilize and strengthen Ohio's pension systems. The study recognizes that the reforms proposed by the pension systems and contained in the Senate sponsored legislation are "appropriate" and "significant".

"In reference to passing pension reform legislation, the report states 'We see no valid reason for delay.' This study confirms the legislation passed by the Senate '...will put each of the five retirement system in a much more solid financial position.' It is important to note, the Senate reforms do not require additional taxpayer dollars. 

"We appreciate our colleagues in the Senate for taking a bold stand to ensure all the state pension plans are on solid financial footing to protect the retirement benefits of millions of Ohioans. We encourage our colleagues in the House of Representatives to join us in passing this pension legislation without any further delay."