Ohio gov signs 5 bills shoring up public pensions - 21 News Now, More Local News for Youngstown, Ohio -

Ohio gov signs 5 bills shoring up public pensions

Updated:

COLUMBUS, Ohio (AP) - Gov. John Kasich has signed a package of bills shoring up Ohio's five public pension funds.

At a bill-signing on Wednesday, the Republican governor said the legislation represents serious progress in terms of stabilizing the funds.

The bills make changes to funds covering some 1.8 million retirees, future retirees and their families. They include increases to some premiums, reduced payouts, and tighter retirement eligibility requirements for funds covering teachers, police, troopers, and other public workers.

The package of bills is aimed at keeping the funds solvent. They cleared the state Legislature two weeks ago with bipartisan support.

The affected funds are: 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.

Copyright 2012 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

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